Sponsorship Overview

1
Sponsorship Overview
FSAE Workshop 20 October 2007 Society of
Automotive Engineers Detroit Section

• Alba Lynnette Colon
• GM Racing NASCAR Nextel Cup Program Manager

2
REALITY

• They are very few, if any universities that will
  happily hand over cash each year, so sponsorship
  raising and cost efficiency (spending what
  resources you do have wisely) are key skills for
  any team to master.
• Although there is probably a good correlation
  between expenditure and overall points scored at
  the event, the enormous value of FSAE as an
  individual learning exercise is no less for
  students in cash-strapped teams than for those
  with cash to burn, so to speak.

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Sponsorship Overview

• Obtaining any kind of sponsorship requires
• Proper planning and organization
• Teamwork
• Sound marketing
• Good communication
• Persistence
• Customer care and follow up

4
Types of Sponsorship

• In Kind Donations
• Tools, lap timers, cones, equipment
• Raw Materials
• Carbon fiber, fuel, metals
• Parts
• Engines, data acquisition systems
• Machine Time
• Complex welding, machining
• Expertise
• Advice from Professionals
• Use of Facilities
• CASH, etc.

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Types of Sponsorship

• VERY important to plan out and list your teams
  specific needs (parts and materials are probable
  the easiest form of sponsorship to obtain, while
  cash is usually the hardest).

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The Process

• Assign team members several (please start
  early)
• Benchmark your competitors see FSAE website
• http//students.sae.org/competitions/formulaseries
  /fsae/
• Review competitor sponsorship proposals
• Get a feel for the type of sponsorships other
  teams have, and how they promote the
  sponsordecals on car, team apparel, web site
• Create sponsorship proposal
• Develop sales plan
• List of potential sponsors
• Define sales tactics letters, e-mail,
  meetingshow are you going to make contact
• Keep records
• Company name, who spoke with, date, outcome
• This will help you organize

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Key Elements in a Sponsorship Proposal

• Explanation of the team/program
• Type of racing, where, when, why
• Bio of the team
• Past results
• Demonstrate sponsor benefits what do they get?
• On track exposure number of races, attendance,
  logo placement
• Off track exposure website, car displayed at
  events
• Other benefits PR/marketing usage (shows
  sponsor commitment to community/education), tax
  benefits
• Clearly state what you are looking for
• Cash needed how much
• Parts specific list of items
• Other services
• Use lots of visual aids car, team, race photos

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Places to Start Your Search

• Past Sponsors
• Local business
• Look for those that are active in the community
• Check their websites look for
  sponsorship/charity activities. Some even have
  specific departments to contact.
• Alumni
• Companies who recruit at your university
• The university itself
• REMEMBER prospects are all busybe prepared,
  clear and to the point

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What are Sponsors Looking For?

• Each sponsor may have a different objective, here
  are some examples
• Gain general awareness of company
• Promote their products of services
• PR/marketing tool to show support of
  community/education
• Product exposure with future engineers you may
  become their customer some day
• Build relationships with the students and/or
  university
• Recruiting Tool
• Universities also have a stake
• FSAE provides a good PR/marketing tool to attract
  future students, and align with local industry

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Taking Care of Your Sponsor

• Think of your sponsor as valued customers much
  easier to retain sponsors vs. gain new ones
• Always keep them informed of what the team is
  doing
• E-mails, newsletters, pictures
• Keep them up to date and show examples
• If hosting at race events, give them VIP
  treatment
• Treat as one of the team
• Inside the ropes tour of the car and competition
• A Thank You note goes long way
• Be appreciative let them know how they helped

11
Final Thoughts

• THIS is only a guide, there are many ways to
  approach sponsorship
• Use common sense
• Put yourself in the sponsors shoes to understand
  their needs, objectives
• Be thorough, yet concise
• Show your passion and enthusiasm