Securing cycling sponsorship is tough! That's why I've created a 6 step process to help you identify potential sponsors, solve specific problems, create a proposal and seal the deal. This sponsor focused approach will give help to create relationships that you can build on year after year.
I touched on teams a few weeks back, and for me, it raised the issue of cycling sponsorship. I personally don’t think sponsorship is all it’s cracked up to be, especially if you can support yourself. The extra pressure it places on riders can be too much.
Saying that though, there is a place for it, and can ease the financial burden of being a semi-pro. So today I have a 6 step plan that I’m calling the Cycling Sponsorship Playbook. To take you through the steps of identifying and approaching potential sponsors.
When I talk about you, I’m also referring to you as a team. If you’re a team member or manager, then feel free to replace ‘you’ with the team.
Start with your why. Be honest with yourself about your abilities and intentions. This is not to say that it’s all about the espoirs of the world. If you’re honest about why a company should sponsor you, there’s probably a company out there for you. Also, it’s not all about winning! So don’t be discouraged.
What do you want? Be specific.
Budget
What can you do for a sponsor if they sign you? Examples:
Now that you know you're why what you want and what you can offer. It’s time to look for targeted sponsors that you can add value to, and can supply you with what you want. Notice the order I put those two things. First look for companies that you can help to solve or fix a problem, then look to address your needs second.
Make a Target List
Keep these 3 rules in mind when looking to add a company: Companies Sponsor to Make money, save money or create a specific image.
Where to Look?
Create a Data Sheet
Rank the companies on your list
About demonstrating value – “what’s in it for the sponsor?”. There is no better way to demonstrate value to a sponsor than by solving a problem!
Examples:
There are also other ways you can add value. Being creative here will help you to standout.
How to get a sponsor? Be an inspirational individual that can sell a brand in a memorable way.
Once you have found where you can add value.
Develop an elevator pitch for your team to be used in social media, e-mail or introductory letter. Focus on why and how cycling sponsorship will help them achieve their goals and objectives. Point out why cycling, you, your team or event is the perfect vehicle to help them.
Use initial contact as a springboard to additional discussions. This is your in to send them more details.
How to Write a Proposal: Start with a value statement.
Company objective and motivation) + your ability to solve a problem and the benefit to them = VALUE
Additionally
Formal Meetings
Interview
Know Your Business
Follow up Phone call
Understand what they liked, what they didn’t, if any modifications or additional information is necessary. If you won – congratulations! If not, consider continuing to nurture the relationship for next year. Or, maybe approach them about a temporary sponsorship arrangement on a smaller scale.
Follow through once the gear or money arrives. Remember this is just the beginning of your cycling sponsorship and professional relationship, and one that if nurtured and treated with respect can repeat year after year.
Make sure to maintain consistent contact:
This takes time. It’s a process. Remember this: Know. Like. Trust.
Companies, or more importantly sports marketers must know you, then like you, and finally trust you before they’re going to commit any sponsorship dollars to you.
