What is our product?

Questions on funding your team

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speedtalk
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What is our product?

Post by speedtalk » Wed Apr 06, 2005 4:18 pm

I got this question via emai.
Do you have any information on what the top ten most asked questions
from speedway sponsors would be. We have a sponsor who became a team
owner but there is some confusion as to what the product should be. Do
we sell the driver in a sponsorship package to potential sponsors. If
we land a sponsor then we would sell their product using the drivers
exposure. Please help.
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Post by David Redszus » Thu Aug 06, 2009 2:04 am

We are often approached by racers who would like us to sponsor their efforts. After listening to their pitch regarding how fast they are and how eager they are to win, we ask a simple question.

"What's in your program for me, the sponsor?" You would be amazed at the resulting silence and lack of prepared response.

All too often racers expect a company to sponsor their hobby because they don't have the money. But there is little in their program that brings value and benefit to the sponsor. Paint jobs, little decals and name exposure are not very high on the list to a potential sponsor.

A potential sponsor wants to be assured that you and your team will represent the sponsor, his company and product properly, professionally, and consistently. The sponsor would like you to be familiar with their product line, their customer base and their company. And that efforts will be made to increase the sale of the sponsors product or service.

The price of exposure of a sponsors product is measured in terms of cost per thousand exposures of qualified prospects. This number is amazingly low and many racers do not even know what it is. But that is the basis on which a legitimate sponsor will consider any expenditures.

Lastly, do not approach a sponsor with a proposal that details what you need to compete successfully. Do not bother with details of your on-track accomplishments.

Instead, bring to a potential sponsor a proposal that details what you will do for him, his company, his products, his customers, his image, his reputation. Tell him what you can do for him, not what he must do for you.

And remember, activities away from the racetrack are even more important than those on the track.

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Post by DCK » Tue Sep 15, 2009 11:30 am

As far as activities away from the track, are you speaking of off track exposure/networking or the quality and conduct of the individual? I'm sure both are of great importance but wondering to what level sponsors considers this. For a proactive and well conducted person, would this be a competitive edge, over others who are lacking, in seeking a sponsor?

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Re: What is our product?

Post by money4speed » Tue Aug 10, 2010 9:01 am

Man, You hit that one right on the head...
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