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07 Feb 07
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Should I accept product instead of cash?
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buying habits of participants, number of participants in previous events -
2) Return all sponsor banners. They'll need them for other events. 3) Write a short report to the sponsor, providing highlights of the event -- number of participants, notable achievements, etc. -- and include samples of sponsor promotions and pictures of sponsor name/logo displays. 4) If you haven't already done so, send race t-shirts to all of the key people in sponsor companies. 5) Invite sponsors to a post-race party or some other event to thank them for their participation and keep them connected to the event. 6) Ask them to sponsor the event again next year. -
1) Call the sponsors to personally thank them for their involvement. -
Stay in touch with the sponsor!
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What should I do when the event is over?
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FULLFILLMENT. -- You must fulfill your agreement to provide entitlements to the sponsor. You cannot leave a logo off a race application or forget to put banners on the course. -
What is the most important part of sponsorship?
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It's the most important sponsor you can have. Most races are not worth sponsor dollars, since they only reach a small audience. -
Contact agents' former clients for references. -
Look at an agent's track record -- it doesn't have to be limited to races -- and find out how successful it has been. -
How important is a media sponsor?
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Be sure you have a written agreement that specifies fees, responsibilities, reporting systems, and restrictions (if any) on who can be solicited. Most sponsorship agents charge 15% commission for cash sponsorship. Sometimes your agent will also want a flat fee, since s/he spends time on the effort regardless of the outcome. -
I can't do this. Should I hire someone else to solicit sponsors?
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For example, a grocer pays your race a sponsorship fee and signs a yogurt company as an additional sponsor. The yogurt company pays the grocer a fee (sometimes more than the grocer paid you) for the right to become a sponsor and provides your race with yogurt. -
Should I give one sponsor the right to sign another sponsor?
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Almost always. A sponsor expects a guarantee that its competitors will not be involved in the race. So you should have only one shoe company, one running store, one fluid replacement, etc. -
Do I have to guarantee a sponsor exclusivity?
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Of course. Some sponsors ask for more benefits than you may think they are worth
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Can I turn down a sponsor?
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previous sponsors; mentions of your race in sponsor materials -
demographics -- age, gender, geography of participants
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examples of sponsor entitlements
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press coverage
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A proposal could include pictures of previous events;
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Keep in mind the company's corporate goals when crafting your proposal. -
proposal should be tailored to that company's specific needs -
Whatever will convince the company to become a sponsor
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What should be in my proposal?
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If you are making a "cold call" (57% of all initial sponsor contacts), try to reach a person by telephone. If you send a letter, keep it brief and to the point,and state that you'll follow up with a telephone call. Be sure to call when you said you would. If the sponsor wants more information, you will probably be asked for a more complete proposal -
Personal contact is always best. If someone from your race knows the key person in a company, or works for a company that may sponsor your event, work through that person, or at least have that person guide you to the proper contact in the company. -
How should I contact prospective sponsors?
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If it's something you would have paid for then it's as good as cash. If it's something you wouldn't pay for but you need, like water, then accept it. Some sponsors only give product. Be sure to include a level of sponsorship for product. Sponsors expect something in return for hundreds or thousands of dollars worth of product and the cost of delivering it to you. -
It's best to approach a sponsor with one, customized proposal. But be prepared to offer an alternative level of sponsorship, in case the sponsor doesn't want to spend as much as you ask for. Have in mind different sponsorship levels with the largest number of entitlements going to the category requiring the largest payment. Be prepared to negotiate. Sponsors often want to pay the lowest level fee but receive the highest level sponsorship. -
What should I ask for? How much money?
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You can simultaneously contact sponsors in the same category, but you may be put in the position of having to turn one down. Instead, you may want to target your first priorities in each category and still leave enough time to contact competitors, if the first sponsor turns you down. A sponsor planning to say "no" to you will wait as long as possible to prevent you from signing its competitor. -
Large, national companies often set their budgets in spring or summer of the previous year, so contact them early. They sometimes have discretionary funds that are saved for late- breaking opportunities or money left over at the end of the year. -
When should I start contacting sponsors?
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Don't contact a company that is already sponsoring a lot of events in your community. It may have already saturated the market. Solicit its competitors. -
Which companies should I contact?
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The companies that have shown an interest in your audience(s) or you think would be interested in your audience(s) if they knew how to reach them. -
Announcer mentions
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Event premiums
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Signage -- logo in event signage; on-site inflatables; banners on-site
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Event collateral -- inclusion in pre- and post-event media coverage; i
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Public relation
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On-Site promotion -- s
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Event-related promotion -- event included in sponsor advertising; special in-store promotions tied to event; co-promotion, with two or more sponsors; ad and hotline referral to sponsor stores or web sites; save on entry with purchase offer. -
Sponsor hospitality -- VIP tents; employee volunteer opportunities
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Sponsor Designation -- title sponsorship or name on a facet of the event
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What does my race have to offer a sponsor?
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Is it the runners? Spectators (if there are any)? The general public? Some sponsors see the runners as an important niche audience and pitch their message to participants in the race. But most races don't have enough runners to attract sponsorship, so the sponsor may want to use the race as a springboard to a wider audience. -
Who is the sponsor's audience?
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How will the sponsor benefit from my race?
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Large sponsors usually aren't interested in "exposure". They are already well-known. They must be able to prove that sponsoring your event will result in greater sales of their product or services. -
Remember, the sponsor is concerned about increasing sales of its product or services. It is not concerned about the quality of your race operations or the worthiness of your cause.
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