Sponsorship and Joint Venture Sales
Since forming a partnership with Highlight Sports about a year and a half ago, I’ve learned many important things about Sponsorship and Advertising Sales. Here are a few ideas:
– Instead of talking about price, talk about “return on investment” or what they want out of the sponsorship (some may not care as much about ROI – they just want to show their support and brand their company name)
– When the question is asked about cost over the phone, set up an appointment to meet in person if possible
– Ask questions about what the company does for marketing
– Take notes
– Pick their brain about how what we are doing could benefit them, if not now, later
– Tie their needs back in to the presentation
– KISS: keep it simple stupid
– Listen for buying clues
– Don’t burn bridges: what may not work now could always work later if you leave a good impression.
Additional Notes I took on my learning curve:
– Mention competitors as options for sponsorship
– Use phrase like “We are considering your company as a potential sponsor…”
– Generally better to start a little high with numbers: you can always negotiate down, but not up
– Be willing to negotiate price and tools provided
– If they are hesitant with the pricing, ask something like: “Is there some things I could rearrange to make that package a better fit for you?”
– Show clients past work we’ve done
There are many different approaches that can be taken; these are some of the things that have worked for me. More to come….
What have you all learned?