Fundraising

Raising funds for Racing?

Thomas Serwin Racer, Nascar

April 2nd, 2016

I am trying to raise fundings for racing where network and exposure are massive.

Any ideas how to approach and get people attracted to this? Not that many know the power behind this.
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Leo PhD Product development executive, serial entrepreneur and Angel Investor

April 2nd, 2016

Just like any other business looking for sponsorship, you need to:

1) Define your demographics - What is "massive"? You will have to clearly define the level of exposure, and how the exposure fits with certain brands' image and their advertising goals.

2) Financials - Make sure your value proposition has a good potential for great ROI for the brands and figure out the fees accordingly. Pricing in sponsorship can be difficult to figure out, and you will have to justify your ROI with good data.

3) Demographics - Figure out which brands/companies are good fit to the demographics that racing would expose them to. Reach out to them.

For reaching out, you should use personal connections, cold calls and with tools like a Media kit.

Hope this helps.

Bill Lennan Red Rope Social - everyone is an influencer.

April 2nd, 2016

How can you make compelling "the power behind this"?

That's the key piece. 

I've driven race cars - totally get the rush. 
How can you convert that to something a marketer salivates over?

Fred Schechter Designer TGiF Design & DS4 Design

April 3rd, 2016

Tailor your pitch to the companies you specifically target. Build a platform that shows how they benefit with their sponsorship of you and your team. Make it very specific to them. Demonstrate an understanding of their business and business actions (local, national, events, in office meet & greets, industrial alignment etc.). 
Alignment with their goals will get you the funding you're looking for. Otherwise it'll be dumb luck when someone with far too much money just wants their logo splashed on the side and hasn't been approached by others. 

Myles Fuchs Sales Marketing Business Development

April 7th, 2016

Hi Thomas - Dana shares good advice. Differentiation + meeting/addressing sponsor's goals & objectives are the basic keys I've found most helpful in my 25 years of sponsorship sales. Also, need to speak directly to the decision maker be they CEO/founder or heads of marketing and/or sales. Most of the time, these are your "champions" within the enterprise you are attempting to secure funds from. Hope this helps. Happy Selling! 

Stephen G. Barr Inimitable Advisor with Wide experience.

April 2nd, 2016

I'd speak with Akif Malik of Sports CoLab. He understands sports at the level you are at.

Stephen G. Barr Inimitable Advisor with Wide experience.

April 2nd, 2016

Excellent Bill! I'd say video would be the way.

Daniel Turner Interaction Designer, Xerox PARC

April 2nd, 2016

Thomas, I was a long-time bike racer, co-manager of a team, and dealt with recruiting and keeping sponsors. It'll depend on what sponsors want out of it (exposure and if so to whom and can you prove it, equipment testing and feedback, regular updates, branding in your press releases, name checks on podia, etc.). If you haven't already, research what sponsors of other teams get out of their participation and see if you can deliver. They really want to see updates and delivery of anything you promise -- and you can't control for everything; we lost one major sponsor because even though we produced a nice newsletter with updates for all sponsors every month, this one never saw them because of spam filters, and even after we pointed out we had delivered, that was the end of that.

Sidney Sclar SID the SECURITY PRO at sidthesecuritypro.com

April 2nd, 2016

Find a Non Profit Sponsor.

Check out the cvc-mc.org


Andrew Lockley

April 3rd, 2016

John at tribe first has already raised funding for a racing team. I know him well. Andrew

Dana Potts President B2B Motorsports

April 4th, 2016

Find a unique hook or leverage element.  Everybody in racing has a massive audience with exposure.  How are you going to differentiate from others.