4 Reasons you’re struggling to find sponsors.
Written by Deji Akande
In the world of pro sports, athlete sponsorship is one of the most talked about topics. Some athletes even feel like if you’re not sponsored, you're not a pro athlete (We disagree with this, but that is for another post!!)
However it really isn’t easy to find brand partners in today's ever-evolving world. The reality is the days of winning a global medal and sponsors from every sector just falling on your lap are officially over. It takes a real strategic effort for an athlete to really maximize their commercial potential with brands - especially when you’re not just competing with fellow athletes for brand investment - today athletes are in the same space as influencers, actors, content creators, even celebrity chefs! So we need to be bringing our A-Game.
That being said there could be a few things that you (or your agent) could be doing wrong that is making it a bit harder to find sponsors!
Here’s four reasons you might not be making them deals!
1) You're not speaking to enough brands.
Sponsorship is a numbers game, to some extent. Reaching out to a wide array of potential sponsors increases your chances of striking a deal. If you're only focusing on a handful of brands, you're limiting your opportunities. Cast a wider net and tailor your pitch to suit each brand's values, goals, and target audience. Remember, rejection is a part of the process, so don't get discouraged if you face setbacks. Every 'no' brings you closer to that valuable 'yes'.
2) You're not giving them a niche or unique opportunity for them to honestly consider.
Brands are constantly bombarded with sponsorship and partnerships requests. To stand out, you need to offer them something unique and tailored to their needs. Define your niche and position yourself as a real unique player in your space. Think about what is actually going to make the brand want to work with you? How will working with you support thier aims, objectives, access to new audiences or communities? My it needs to be authentic - people can sense when someone is not being real - so build everything based on true passions & interests. For example this could be a specific demographic you connect with or an unconventional approach that sets you apart from the competition. Brands are more likely to invest when they see how you can provide them with an exclusive angle that aligns with their values and objectives.
3) You're not speaking with someone who is a decision maker.
Sometimes, your efforts might be in vain if you're not engaging with the right people. Decision-makers within a brand are the ones who hold the purse strings and can give the green light for the deal you’re looking. Your well-crafted pitch might be lost in a sea of emails if it doesn't reach the right person. Research and identify the key decision-makers within the brands you're targeting. Connecting directly with them increases the likelihood of your proposal receiving the attention it deserves.
4) Your valuation.
Understanding your worth and value is crucial when negotiating sponsorship deals. If you're undervaluing yourself, you might settle for less than you deserve. On the flip side, overestimating your value can deter potential sponsors. Research industry standards, analyze your reach and impact, and gather data to support your claims - also speak to others, seek advice. A well-founded valuation enhances your credibility and helps you negotiate fair deals that benefit both parties.