In this article we will discuss how to find potential sponsors, and how to interact with them. We will also discuss why you should try to get sponsors, and how to use software to more easily attract them.
Why Are Sponsorships Useful?
Sponsorships are beneficial for each party involved. A race typically earns additional money to support the race, and can use the sponsorship as a way to have more credibility in a community. Sometimes registration revenue doesn’t cover all of the expenses so sponsorship revenue can give the race what they need. Additional revenue can also mean directors can host more extravagant events.
What Sponsors Want for Their Money or Traded Product and Service?
All sponsors are different, and are looking for something different. A sponsor may be re-branding and would like to use your event as an opportunity to showcase their new brand to the community. A sponsor may be looking for immediate sales. A sponsor may just want to help give back to the community and may like one of the charities that you support. All sponsors are looking for something and it is important to ask questions to identify what is most important to a potential or existing sponsor, so that you can put together the right sponsorship package for their business.
It is important that the partnership with your sponsors is a win-win. If you help them win what they need, they are likely to return, and continue to help your event succeed. There are many promotion things you can do for them, and here are some ideas:
- Logo or offer placement in emails to your participants
- Logo or offer placement on your website and/or registration path
- Banner in finish area
- Banner placement in starting area
- Logo on race shirts
- Expo booth in finish area
- Expo booth in pre-race fitness expo
- Social media post about sponsor
- Flier or sample insert in race bag
- Advertisement in race magazine
- Logo on race advertisements
- Sponsor promo announcements in finish
- Logo on volunteer shirts
- Branding on the starting line
- Branding on the photo backdrop
- And more.
Often it is wise to ask what the sponsors need specifically. You can sometimes come up with a promotion idea that makes particular sense for their specific industry. For example if you wanted to get a car wash to be a sponsor, you could have them sponsor a mist station that your runners go through since they are related to washing. Runners would love your cooling mist station along the route or finish and your sponsor would love the specialized touch you did for their sponsorship. Think outside the box, and you will be amazed how loyal your sponsors will be for making them memorable to your participants.
Selling Sponsorships
Since sponsors are so important for any race, Race Entry has tools to assist in selling sponsorships including, customizable categories. Sponsor Categories allow a race director to set up the name, inclusions, price, and a limit. Often, sponsorships are not a one size fits all opportunity. Customizable categories allow a race director to create what will fit the race needs and help them maximize their selling.
When it comes to naming categories many use terms such as gold, silver, bronze, but a race director might even choose to go with the theme of their race. Using one of a kind terms can set your race apart to sponsors and participants.
Inclusions are what sponsors will be getting when they purchase the category. These inclusions can range from a logo being on a t-shirt to a free expo booth, the possibilities are endless. What you choose to include is important because this will be what entices a sponsor to buy.
Pricing a category depends on a few things; the size of the race, the value of the inclusions, and the wants/needs of a race. Since prices typically change from category to category, it is important to keep all of these things in mind when selecting a price.
Sponsorship Benefits on Race Entry
In addition to all of the great things a sponsor will get from purchasing a sponsorship, Race Entry has included some easy options for a race to use. A sponsor’s logo can be shown on the confirmation page, marketing page, or both. Expo booths can be sold to sponsors in a general purchase or by specific booth selection. Your sponsors can even add promotions online to your participants. Sponsor logos can even be included to show on expo booths sales emails. All of these options are available to each race.
Get started here!
Sponsorship Offers
A business that sponsors an event is looking to earn more business. Sponsor offers are a great way to get more customers and our website makes it simple for businesses to set these up. Offers are completely customizable by a sponsor and can promote their products or services at any discount. This could be a percentage off a product or service or a promo code for an online service. A promo button appears under their logo on the marketing page that a participant can access to get coupon code or print a certificate. These sponsor offers can benefit brick and mortar or online businesses alike.
Expo Booths
Race Expos are a great way to promote your race, sponsors, and other businesses. A lot of participants look forward to these to pick up their packets and get good deals on other products and services from the companies buying the booths. Our website allows a race director to create their own venue to maximize the organization of their event.
Where to Find Race Sponsors
The best place to begin finding race sponsors is your own backyard. People in your own community will be most interested in the race participants at your event. These community sponsors can be located at your local chamber of commerce, or by simply reaching out by phone, email, or in person. It is wise to have a sponsorship packet that shows some race photos, race demographics/numbers, and sponsorship packages (with the pricing and inclusions). People want to know what they get for what they pay. Before you jump right into asking for money and pitching your sponsorship, you will want to build a relationship of trust. People do business with who they know, like, and trust, so be kind and get to know them first.
You may want to expand your search for sponsors to online searches for relevant products and services to your race industry. For example you may want to have a hydration partner, so you might search online for a good sponsor to provide an electrolyte beverage for your runners. Most hydration companies have an online form to fill out for sponsorship.There are many types of companies you can reach out to online for sponsorship, and another place to find sponsorship is in your own participant database. You would be surprised how many business owners and managers can be found right within your own database of race participants. What better place to find a sponsor than a business owner or manager that already likes and participates in your race?
One of the most important things to remember with selling sponsorships is that paying you money should be easy. If you let them pay you online they can pay anytime 24/7. Everyone knows how much easier it is to collect payments from runners online, but most races have not yet realized how much money they leave on the table when they don’t yet sell sponsorships online. Start selling sponsorships online today with Race Entry!
