How to Give More Value to Your Sponsors
Sponsorship deals are becoming increasingly harder to secure because businesses must be able to justify all their expenses through the valuation of any deal. Furthermore, most athletes in the motorsport industry will find that holding onto sponsors is just as challenging.
Acquiring a sponsorship deal is just the beginning. In order to make that a success, you need to ensure that there have been tangible benefits for the business during the deal. Creating and presenting the value of sponsorship deals is up to you.
Here we are going to look at three main ways that you can add value for your sponsors so that you continue to gain their support in a mutually beneficial relationship.
If you already have a sponsor and have the aim of keeping them then you need to think of new ways to promote their business effectively. You are the one with expertise in motorsports, so you have the knowledge to provide consultation on innovative marketing strategies.
You need to approach your sponsor as a partner who understands their objectives and offer solutions that will help them to make the deal a success. Thinking about ways to promote their business at motorsport events, on your website and across various platforms of social media will show how much you appreciate their support and are willing to do all that it takes to keep them involved.
Activate the Sponsorship
Acquiring a sponsorship is obviously a success but it will be worth very little if you don’t help to activate it.
Activation is all about promoting your sponsors. Just having their logos on your car and uniform is not enough. You need to be promoting them through your social media feeds and creating press releases that incorporate them in a way which will help them to reach their selling goals.
Many companies no longer have in-house resources at their disposal to promote their business at your motorsport events so it’s up to you to create this platform. By providing creative marketing and advertising support for your sponsor, you are showing them how your value goes far beyond your performance on the track.
Provide Market Research
Providing your sponsor with real statistics about the demographics of your spectators and fans will help them to value the sponsorship deal.
By creating surveys on social media, your followers will be able to voice their opinions. After all, there is no more valuable market research than the opinions of potential customers. Businesses will realize that sponsoring you not only gives them exposure to the right types of customers but also provides them with market research that didn’t cost them anything.
As a professional athlete, fans are a lot more likely to dedicate their time to answering your questions than filling out a survey for a company they feel a less or no affinity towards.