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By Marketing at Full Speed owner Annamarie Strawhand
I recently made a video advice blog where I explain how to set the levels and amounts of sponsorship (partnership) that you are proposing to a company. I get this question a lot because many racers get confused on how to set the levels and how to figure out how much to ask for in their sponsorship (partnership) packages. These tips should help make you clear on exactly what you need to do.
Here are a few things to remember:
Before you start remember this: It is NOT what you have to offer, but how you PACKAGE and PRESENT it. You must break this down in neat and organized package levels and make it clear what value you will give with each package level – make sure you give them the biggest value option first, and then break it down into other level options, including race by race or entry-level options. When the potential sponsor is confused, they may not sign an agreement with you.
- First figure out your complete racing budget for the full season – include every cost from the insurance on your tow vehicles to the toilet paper you buy for the motor home – itemize the budget and make sure you add in all marketing costs – especially the marketing costs of what you are promising in your proposal (this is for your reference only – DO NOT put your budget in your proposal)
- Next set your levels of sponsorship (partnership) these must be set as “Partnership Package Levels”
- Your first level is “Title Partnership or Presenting Partnership” This is your highest valuepartnership and the amount of investment for the partner should cover your full racing season budget plus the marketing costs. Make sure you itemize in detail the marketing and promotional benefits they will receive in this partnership. Title partner means they are getting FULL BRANDING and colors on all your cars, uniforms and equipment. They also have their company name paired with yours or a “Presented By” Title. Make sure you make this very enticing and have loads of marketing and promotional perks mapped out to go with this! They also get full licensing rights to you and your team to use in their own promos.
Annamarie Strawhand – Founder, Marketing At Full Speed
Creator of the Sponsor Attraction System™