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2023 Drag Racing Sponsorship Summit Part 4

Session 4 of the 2023 Drag Racing Sponsorship Summit (March 28, 2023): Networking & Closing Deals — how to find and meet new sponsors, the best ways to work trade shows and events, and how to create decks and write proposals that close. Hosted by Alex Striler with Tony Yorkman, Tom Bogner, and Megan Meyer.

Questions answered in this video

9 questions
Q
What is the difference between a deck, a proposal, and a proof of performance report in sponsorship?

A deck is colorful marketing material (PDF flyer or video) used to get a sponsor's attention and secure an initial meeting. A proposal is a simple business plan created after you understand the company's goals, outlining what you will deliver and what you expect in return. A proof of performance report is documentation showing what you accomplished for the sponsor throughout the partnership, used to secure renewals and as a case study for new sponsors. The key is keeping these three documents separate and using each at the appropriate stage of the relationship.

Q
When is the best time to send a sponsorship deck to a company?

The best time to send a deck is after you've had an initial meeting with someone at the company, not before. Don't hand a deck to someone at a trade show expecting an immediate answer. First, have a meeting (Zoom or in-person) to understand the company's goals, then create a customized deck showing how you can help them reach their target market and meet their specific objectives.

How long does it typically take to build a sponsorship relationship with a major brand like Toyota?

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What should a proof of performance report focus on to help secure sponsorship renewals?

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How can athletes effectively network at trade shows like PRI and SEMA without being intrusive?

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How important is understanding a potential sponsor's business plan before approaching them?

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What role does social media play in getting noticed by major sponsors today?

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How can athletes differentiate themselves when approaching sponsors who receive many proposals?

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What is the key to making sponsorship content that remains valuable over time?

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