This week in the Business of Being a Race Driver, I bring you more fantastic resources to help you in your sponsorship acquisition efforts. Racing Mentor has completely updated their Big Guide to Motorsport Sponsorship, Megan Lingner brings you some important social media tips and I discuss some important considerations you should keep in mind when evaluating how a sponsorship could impact a business from their point of view. Let’s dig in!
- Racing Mentor has updated their Big Guide to Motorsport Sponsorship and it is packed with useful and more importantly, actionable advice on sponsorship acquisition. You can access the Big Guide here. These are the questions that this resources will answer:
- How do I get motorsport sponsors?
- How do I find companies to sponsor my race car?
- How do I approach a racing sponsor?
- Where can I find sponsorship opportunities?
- How can I get sponsorship easily?
- What companies sponsor racers?
- Megan Lingner has some excellent advice on 3 Ways to Show your Value to Sponsorships on Social Media. She looks at product testimonials, personality and activations to help you maximize your impact online.
- When approaching companies about sponsoring your racing, too many drivers focus on how their sponsorship will impact them without spending enough time explaining how this sponsorship will enhance their business. I have mentioned before that, in addition to understanding the business of the potential sponsorship partner, you need to understand what a motorsport partnership can and cannot do and anticipate as best you can any objections you may face. One of the things you must do is put yourself in the potential sponsor’s place and look at the big picture of where your sponsorship will fit in with their marketing and business needs. Here are two resources that will help you with this.
- Rich Wharton answers the obvious question every business will ask, and that is Can Motorsport Partnerships help your business grow?
- Now that you understand the advantages of whether your sponsorship can help your partner’s business grow, you need to anticipate the 5 Common Pitfalls of Sponsorship Programs according to Sport Dimensions.
That’s it for this week. Don’t forget to check back next week for more Business of Being a Race Driver. Good luck!