Welcome to the notarised quick reference guide for episode twenty six of the Racing Mentor Sponsorship Podcast. This week: How to tell if a sponsor has budget to work with you. Jess and Toby discuss where the budget clues might be and how you might research their current spending. By understanding more about marketing, and asking the right questions during your relationship-building stage, this is an essential subject that you can approach with confidence.
Listen at the links below, or search on your favourite platforms.
This week’s episode is 34 minutes, steering you onto a path for more comfortable conversations about cash.
Here are the highlights:
03:31 – Toby’s take on this weeks subject
04:41 – Finding clues online
05:06 – Why you should pay attention to their new employees and new clients
05:31 – What are they spending now?
07:00 – Does your offer complement what they already do?
08:33 – The specific question you need to ask
09:32 – Why you have to raise the subject of ROI
12:30 – Asking about value matters
12:58 – Pitching appropriately (what you want vs what they’ve got)
14:40 – Why you won’t always get it right (but hang in there)
16:03 – Digging deeper into the lifecycle of their business
17:01 – Toby makes a brilliant point about integrity
19:35 – Open and honest is the way to go
20:57 – How to open budget conversations
23:05 – The soft money mention that works every time
25:56 – Get confident in your offer (it really matters)
28:14 – Why not grow together? Long term sponsorships often start small
31:14 – Driver of the week: Brett Murray
33:30 – Got an idea for a podcast topic? Send Jess a message
- Buy The Side Hustle Road Map eBook
- Companies house
- Learn more about Brett Murray (Facebook)
- RM Sponsorship Community
- RM Side Hustle Community
- Racing Mentor Podium Club
- Sign up for the RM newsletter
- Blogpost: Researching before a meeting
- Do you need a proposal template?
- Blogpost: ROI and value
- Need a pre-meeting pep talk? 1:1 coaching with Jess
- Six Weeks to Success
- Buy the Get Paid To Race book
How to Overcome Imposter Syndrome as a Racing Driver