Welcome to the notarised quick reference guide for episode twenty one of the Racing Mentor Sponsorship Podcast. This week: should you go after product sponsorship or cash? Jess and Toby discuss the pros and cons of product sponsorship: what it can mean for you as a driver, deciding on the value proposition, and how you can pivot from product deals to monetary investment, further down the line.
Listen at the links below, or search on your favourite platforms.
This week’s episode is 32 minutes: an easy-listen lowdown on the benefits (and avoidable pitfalls) of product sponsorship.
Here are the highlights:
04:44 – Jess teases details about a new RM content series coming up this winter
06:08 – Toby’s experience of product sponsorship with his partner, Purple Tasche
08:15 – The benefits of a ‘time saved’ product or service deal
09:20 – What’s in it for the sponsor?
10:10 – Some product and service sponsorship examples
10:35 – Why you need to ask yourself these two questions:
- Does it save you time?
- Will it save you money?
11:40 – How a ‘needs vs wants for racing’ list can clarify a products’ value to you
12:25 – The activation difference
13:15 – Are you thinking long-term?
14:20 – Product sponsorship has these limitations
15:10 – Why you should set out clear, shared expectations for the future
16:50 – Yes, you can negotiate your way to product and cash
19:01 – Important: Time is a finite resource
20:05 – Toby reminds us all about having a business mindset
20:50 – How money influences an activation-attitude
22:30 – Jess tells the truth about ‘mates rates’ and one-off low cost offers
23:00 – Don’t forget your value (and how to set it out clearly)
23:32 – How to convert your product sponsor into a monetary sponsor (spoiler: it’s about the relationship)
27:39 – Driver of the Week: Sarah Moore
- Purple Tasche
- RM Sponsorship Community
- Racing Mentor Podium Club
- Sign up for the RM newsletter
- Driver of the Week: Sarah Moore on Facebook
- Blogpost on asking for product sponsorship
- Blogpost: Where to look for product sponsors
- Need sponsorship search support? 1:1 coaching with Jess
- Six Weeks to Success
- Buy the Get Paid To Race book
Closing the deal