Motorsport is an expensive sport. Probably one of the most expensive ones and it is tough to practice. You cannot just put on your overall and jump into your car like you would go for a run or play tennis. And very few aspiring race drivers have so much money that they don’t need to ask somebody else.
Most racer are looking for sponsorship – and go about it the completely wrong way.
Why? Because they make it all about themselves. It is the one big mistake that will kill each sponsorship proposal. But it is about me, I hear you say. I drive, I need the money. Sure, but why would anybody give you money (apart from family or very close friends)? Surely not because you want to become an F1 driver.
The only reason somebody gives you money, is that they want something in return. Something that means value to them. It is like buying a service or a product. You don’t buy it because you like the seller, you buy because it solves a problem you have. The same goes for sponsorship.
Let’s start with what not to do
1. We already covered the most important point. Don’t make it about yourself. Think what you can offer to a potential sponsor. A space on your overall or car for their logo won’t cut it anymore these days. That are just the basics.
2. Great if you have a website as it makes it easier for a potential sponsor to get a first impression about you and have all important information in one place. If you decide to include your sponsorship deck on your website, don’t have a bland one-page summary that looks like your CV. Why would a potential sponsor care where you went to school or that you won the regional kart championship? Or that you want to race in IndyCar?
3. It is also a waste of time (yours and the recipient) to send a general email with your sponsorship inquiry to every company you can think of. Your chances that you will get a positive reply are very slim, and most of the time you won’t even get a reply at all. Why? Because you probably sent your proposal to somebody who isn’t in the least interested, maybe because their company doesn’t do sponsorship, because motorsport doesn’t represent their values, because you sent it to a person whose job doesn’t have anything to do with sponsorships… The list is endless.
So, what should you do?
Know your value and how you can bring added value to your sponsor. That is not the same. The first is about knowing who you are and where you want to go (realistically), and the second is about what you can do for the company you are approaching. So, how do you do that?
1. Start by looking closely at what makes you different from your competitors. Do you have a special background or a particular talent? Make sure you position these arguments regularly and on the right channels, so they attract the right people. Once this is done, move on to the next point.
2. Find companies or people who fit in with your personality, background, and target. That can be based on location, their product, or values they represent you feel strongly about.And tell them why you would be good for them. What can you offer them that other can’t?
3. Present yourself impeccably towards the public, as every member of the public is a potential sponsor. Get your website in shape (or get one in the first place), make sure you have social media content that conveys the image that you want for yourself and that attracts followers. This is important for a potential sponsor as they can reach more people through you, but they want to reach the right people who are interested in their product or service, not just anybody. That’s why point 2 above is so important.
4. With all the prerequisites in place, now comes the most important part of any sponsorship proposal. Know what else you can offer a potential sponsor. Most drivers come with motorsport success and social media followers. So, you need to offer something more. Ideally, this is not one shoe that fits all, but a service or product adjusted to each potential sponsor. This could be an event during the race or away from the circuit, an intervention for the sponsor, or a particular PR stunt. Again, the list is endless. Be creative.
I covered some more points how to approach a sponsorship inquiry and make it successful in this article .
And if you would like to know more about how to structure your sponsorship proposals, get in touch.
