Expert Tips on Sponsorship and Strategic Partnerships
Big or small, organizing events is essential to business. Turning your networks into partners and sponsors to your event can be a tricky part though. But it’s tricky no more as seasoned business development, sales, and sponsorship professional, Scott Morrison himself, tells it all.
It all started with his passion for making recommendations on anything. Eventually, it was all about recommending the right partnerships to other businesses. In this remarkable conversation with our host, Scott shares his strategies and success stories in getting organizations to say yes. The first questions to ask yourself is this: What do your clients need that is beyond what you provide? Which businesses can provide such needs?
Certainly, it does not stop in messaging your potential sponsors on Facebook or giving them a call. So Scott also talks about creating packages and the contract that you and your partner are willing to discuss and agree on.
Keep your ears on this episode and learn how to be comfortable with not only connecting but also making the offer and closing the deal.
Scott Morrison is the Founder and CEO of ScoMo, INC. A Business Development agency which specializes in Sponsorship & Strategic Partnership development for brands that support entrepreneurs. They provide education and done for you (or with you) services.
Scott has worked with dozens of companies including Infusionsoft, ClickFunnels, Digital Marketer, Small Business Expo, Network After Work, Guerilla Marketer, Uber, Precision Nutrition, Spartan Race, eWomen Network, Black Card Books and countless more.
You can find Scott on social media at:
Instagram https://www.instagram.com/Mr.ScoMo/(Most active there)
Sign up for Scott’s Sponsor Secrets training at: www.ScottDMorrison.com/sponsorsecrets
Hello and welcome to. Yes you can with Virginia Phillips. I am Virginia Phillips. Your entrepreneurial coach.
If this is your first time listening to yes you can. This is where entrepreneurs get inspired and get insider tips for generating leads creating sales and building healthy profits. I have a gentleman on here this morning for you all. I’m excited to have him on.
I know you’re going to be excited to listen to him because he is really going to be able to help us do some things to bring in some more healthy profits. Welcome Scott Morrison the CEO of SCO Mo SOCOM.
Oh Business Development Agency and that agency goes out and works with clients to develop strategic partnerships and sponsorships. And he has a variety of different clients but he also has this incredible track record of creating these just these strategic partnerships and creating marketing automation and winning sales teams. I know that some of the best in the business have come to him for his expertise and he is with us today. Welcome to the podcast Scott.
Thank you. So happy to be here Virginia I appreciate the intro. Thank you so much.
So give us the story right off the bat as to one of those favorite client success stories you might have serval.
The first one that comes to mind is very top of mind.
I connected to Al about three years ago I conducted two guys together they both were doing their own things in this crazy small business entrepreneurial world. They were awesome guys doing great work.
And I got them together city guys to do something together. And last week they were awarded two Emmys like the real Lebanese trophies for a TV series that they did in fact that was for a second TV series I did. They had won a previous Emmy for the first TV series they did. One of them particular he’s he’s traveled around the country and he’s done all these different things and that not just because of the partnership that I kind of helped orchestrate it makes sure there’s more to it but for me I love seeing the success stories about getting businesses in and getting people and connecting them together and seeing the magic that really happens when they do some awesome stuff. So that’s been a lot of fun to celebrate with them over the last few days.
I can’t imagine how excited that would be to see that that partnership develop into something that not only you think is great and they think is great but the experts in the field. Yes I think it’s great.
Yes absolutely. It’s so fun to watch that other people have success and you know the crazy thing is kind of the ripple effect.
You know you drop the little little you know drop of water and then you see the ripple go out from there.
It’s fun to see you know in a case like this all the other lives and people are being impacted because of one little thing that got started so it’s so cool to watch.
I hope our listeners are listening to his excitement because I can see there’s a lot of hard work that goes beyond this but this feels like play to you. I can’t imagine when you were five that you said I want a girl up to help people make strategic partnerships.
No. In fact I’ve often said hey in high school if there was you know remember they had no career days and there’d be the booth set up for the different types of careers.
Well there was never gonna be one for a create sponsorship or strategic partnership and nobody ever thinks about that. And frankly I never did either I kind of accidentally got into this line of work but as I did I realized it fellow mine with a lot of my passions one of my passions is sounds strange but it’s true. I love recommending things to people I don’t know why. But like if you want to know a good restaurant just please ask me. I’d be happy to share something with you if you need a you know introduction to something like that and perhaps it’s some of my heritage I grew up in Chicago I grew up in a suburb that’s literally run by the Italian mafia. And everybody’s got a guy now some of those guys maybe they’re doing some business. You don’t want to be like my neighbor. They ran and they ran an asphalt company and he was a guy for some other unsavory business practices shall we say. But in me maybe the seed was planted somewhere about I like to to be able to be the connector I’d like to be able to introduce so I’m not the guy for everything for sure but chances are I know somebody who may know something or can get you in the right place. So as crazy as it sounds I like connecting people in this into situations can help them be more successful.
It is one of the favorite stories I’ve ever heard. I’ve never read it. They give Scott Morrison the same way again. I got a guy you got a guy who just got worse. That’s right. So. Let’s back your story up a little bit here.
This Italian world and they clearly love food. Which is why you wrote that Eddie restaurant to everybody. But how do. How do you go from the Italian suburbs of I got a guy to creating Emmys for people.
Well I guess with most stories you kind of get lost for a while.
You know growing up you know you mentioned that a lot of people that that you’re around understand the passion they have the passion but they don’t necessarily understand the business side of it. I’ve always been the opposite. I’ve understood the business side a bit more than I’ve understood the passion and for years I kind of wandered around figure out what’s my thing you know what is my why. What is my what. Whatever cliches that are out there.
And frankly I still don’t know if I quite a handle on that but coming out of you know growing up I went to school they got a degree I went the corporate route worked at corporate jobs resigned from a couple of good corporate jobs when I was twenty three twenty four years old.
I was in a position with this massive global corporation that my peers were all in their 50s but I had been you know seen as a you know an up and comer somebody who could do really well. And I quit that because I hated what I was doing and I looked at the food chain and none of the people above me seemed to have lifestyles that I wanted. I’m not talking about glitz and glamour I’m talking about happy successful marriages and no substance abuse issues and you know just you know success in life. And I didn’t I didn’t I didn’t want that persay. So I left. So I tried different stuff. All the while kind of understanding more what I like and what I’m good at and figured out early on I’m pretty good at sales. But I worked for a software company for infusion software a longtime work there there for four years and I did a bunch of different things but I was at infusion software. They had me on the phones for a longtime selling and I you know want them won awards and broke records and did great work and I hated most of it because I don’t like just the get on the phone and sell somebody something and move on. So somehow through all this I discovered I like relationships and I like matching relationships to business. So if I could have a good relationship with somebody and I can help them excel in business or better yet I can take to other people I have good relationships and get them together so they can excel in the business world. Maybe you’re on to something. So I kind of accidentally got into it and got started and started building partnerships and sponsorship work and trust me it’s still a rollercoaster but it’s a fun ride. That’s it’s a lot of fun.
I think it sounds Bob at all. I think there are a lot of people that might be listening to this question of if they are on a track to develop a lifestyle for those that are doing bigger and better than that they don’t want. I think that’s an incredible lesson for folks as much as I will want to continue to talk about lifestyles and lifestyle choices. That’s not what this my guess is about. We could talk for days. We could. I want to get right into sponsorships. I know there are a number of folks that want to be putting on let’s say a local event.
How do they even begin to approach a business about sponsorships or an individual about sponsorships.
Sure. So there’s a there’s a couple of steps I’d be happy to kind of unfold for you and kind explain how it all works. Let’s use that small event local event as a good example it’s a great example because that’s something that most businesses can do especially if you’re you know if you have a brick and mortar place or even if you know the brick and mortar if you’re still in some sort of brand with a little bit of a local presence it’s it’s I don’t want to say it’s easy to put on event because it’s not but it’s certainly possible and there’s a lot that you can do. So one of the first things you need to identify if you want to have sponsors for anything is what are your assets. You know what I mean by that is what are things that you have that sponsors would be attracted to that they would like to put their name on or be in front of. So if you imagine a sports stadium you know a major stadium there is there is signage everywhere right. And there’s the you know the Cadillac Lounge or the you know all these different places where sponsors are putting stuff everywhere. You can’t do that in the small business world it’s a little bit harder for that sponsor to get a return on investment but start sitting down and brainstorm through.
Well I I can expose people I mean that positively in this way. I can put signage up for them here. If they walk into my facility I can hand out a coupon for them or I could give my my customers a you know a referral to go to another business or something like that. I have an email list that’s an extremely valuable asset that you have that you may want to put sponsors in there. Do you have podcasts like this for example or many other podcasts. Is it appropriate to put a sponsor inside of your podcasts. And frankly this point you ought to be right or wrong and you know what to say I want to put all my sponsor. I want to put sponsors all these different things but list out every single thing you can think of that’s an asset that you may or may not want to put a sponsor in front of. So it’s kind of the first step and that’s a good good brain exercise for you. Brainstorming exercise for you to think through what are ways that I can help a sponsor get some business. The second piece from there then is to identify who would be your ideal sponsor. Now there’s there’s category the sponsor and then the specific company.
So the category is accountants for example in accounting software they would be people who or somebody has an accounting software would be a good sponsor of ours. And here’s all the companies I can think of. They have accounting software. Those are the different individual companies within that.
But as you do this Virginia you have to really think about your your client your customer. What do they need.
That might be the best question to start with. Here is your is your identifying your your potential sponsors is what does my tribe need or at my live event the people showing up there. What do they need. Beyond what I provide for them. So if you’re a consultant let’s take the fitness world for example you own a gym I should say because I own a gym in the fitness world. I am providing health and wellness exercise. I’m during training plans and perhaps I’m even doing meal plans. I know my people need that. I’m pretty mean I’m providing that. But outside of their what else they need.
Well you’re running a local gym. You have local people coming in normal everyday people. Guess what they need insurance. They need a good grocery store. They need recommendations of great restaurants. They they need dry cleaning. They need all these different professional services.
So these are ideas. There are some potential sponsors that you can really start you know bringing into your thing. I know it’s kind of a lot of throughout there at you defining your assets as well as identifying some potential categories and sponsors. But does that all sort of make sense for you.
It does it. It makes a ton of sense for me. But you know I know the person listening to this is saying Scott that’s all great ideas and you’ve done this a long time and you’ve got a guy but I don’t know that I got a guy.
How do they how do I even approach a business when I’ve not done an event to invest in us after I’ve gotten my list of assets together after I’ve identified what my my clients might need. How how do we even begin to that do that call them. Do I tax them. Do I stop. I bring them copy like what do I do all of those answers work.
There’s no one specific way I think for the local. I’ll give you a kind of two things that have worked best for me. The one in the local thing is to go into their facility get if this is a brick and mortar and a local place go in find out who owns it and talk to them and just you know as a peer as a another local business owner you know I also own a business you do too. Nice. Just network with them. Get to know people get to know your local business. Don’t just necessarily walk in with hey I’m putting on event you want to sponsor. Here’s my thing. Come and buy it. That doesn’t work. I’ve tried it actually does not
Work if the event is like tomorrow side up a sponsor. Give me my events tomorrow.
It could. I laugh because I frequently get calls from event hosts and those saying we have a 500 person event. You know Scott can help us raise like fifty thousand for sponsorship and make sure you know when’s the event. It’s next week. No I can’t help you with that I’m sorry I can’t do that miracle. But if you have a local facility you know that’s great online in the online world.
Any networking connecting with people on social media and appropriately socially stalking them helps. And what I mean by that is engaging in their content. You know I don’t know if people realize this and about Facebook and Instagram. You could actually engage with other people instead of just posting your own stuff. You can talk to them. You can create relationships. You can do all this old fashioned stuff that frankly takes a little bit of time but it’s worth the investment.
But the greatest. Like hack if you will the trick that’s worked best for me is I use Facebook Messenger right now. So this would work if you’re going to be going after a company that you don’t know you don’t know anybody there. You don’t have a good relationship but you’d like them to be part of your event or whatever thing you have. I found that if you message a company to there to there. I think that calling a fan page still their business page with the company page whatever they call in Facebook these days if you message that you’re going to Facebook messenger then you say I’m you know I’m so-and-so I’m hosting event coming up with three hundred people we love for fill in the blank company your company to be a part of it. Who’s the right person I can contact to see if there’s a fit. Ninety two percent of the time I get a response. Most of the time it’s within 24 hours. And the reason for that is the Facebook Messenger is being manned by some administrator whose job it is to quickly respond to messages and make me on the other end happy. So most of the time you’ll either get oh this sounds exciting. Contact so-and-so from my company when I you know the person you did go after or they’ll say yes it sounds exciting please send me some information and you can send some information follow them later. That by far has been the greatest trick that I’ve used that really in the last year or two years that’s really grown and I’d say most of the cold contacting I’m doing is through Facebook and through Facebook Messenger to get in touch with people so.
So first of all you are doing code contacting Second of all year your hack is to do it through Facebook Messenger. You find out about them first and then you want to see if it’s a fit before you’re even pitching them.
Yes. You can’t just go page nowadays you have to kind of feel at least for me I haven’t I’ve had no success just pitching in trying to close right away.
Usually and maybe is my style maybe it’s the way I tend to sell it is really more about creating a relationship there so as I think about what you’ve just said Scott I’m thinking about a phone call I got recently and I get these a lot because I am also a certified life coach so I’ll get all of these calls for you know these kid events.
I don’t have kids I’m not relevant to kids you know to be a sponsor for that but their approach is always to call me and leave a voicemail. And if I don’t respond to the voicemail they call again. It doesn’t seem to be working for the receiver for me. Have you found that calling and leaving voicemails for others works. And is it because they’ve done the research and know it’s the right fit for their event.
It could win. It could win work. Excuse me it could work but typically I find at that point you’re just playing a numbers game meaning that the person on the other side the person calling you you’re probably one of dozens hundreds maybe even thousands of people that they’re attempting to contact. Leave a message with and hope that they get something back. And listen there’s certainly a place for that. There’s still a place for cold e-mail. There’s still a place for cold contacting and all that. And for many it works. If you have two great. I haven’t had I haven’t liked that much. Give you another example I have coming up in this coming year towards the end of 2019 a fitness event that will be I’ll be working on sponsors for my jobs go find sponsors for the event and I really need to kind of rekindle who some of my relationships are in the fitness world. I have a good amount already. I have a decent amount of readers should say but I need some new and I need some fresh blood. So what I’m going to do is I live here in Orlando and there is a couple fitness conventions coming up and I’m going to go to the continuous conventions I’m a go to every single booth and I’m going to talk to everybody I can. I mean as many business cards as I can. And now I have new new blood per say but I’m going to start mailing them like physically mailing them like a thank you card is nice to meet you or here’s some information about an event coming up or here’s an article about fitness and really do a.
Again it’s a slower campaign but I’m start really building your relationship before I just start pick up the phone calling like you know I laugh with my kids they feel like their phone the phone app on their phone is the least use app that they have on their phone because their phone doesn’t use the phone anymore. So people don’t answer back while we’ve been on this call on this recording I’ve had two phone messages two phone calls and even for recording I wouldn’t have answered them. So because I don’t know who’s calling. So to me it doesn’t work. I think there’s other methods you could be using instead.
Well let’s talk about that method that that you have been using that you will go to conventions there locally you will go to the local events you will get those cards from folks you will develop those relationships.
And for me it goes back to where you started this whole podcast. I got a guy you’re not necessarily looking for them to feel that particular hole you’re looking for them more to be a guy that you can pull lead what it is the right fit. Yeah.
And it brings to kind of the next step of this whole process and I think this is the most important step. So after you identified the things that you need and identified like what sponsors want to have and different companies as you’re talking to people and as you’re talking to companies the most important thing to do is understand them and understand what they need.
I call it if I have a form I use often that’s a discovery meeting form that I fill in frequently. I’m on the phone with somebody new or I’m trading messages online or whatever help them communicate with the person.
My favorite by the way is doing a face to face and I and the most important thing that I can understand from somebody else is what’s important to them what’s going well in their business where they’re struggling what needs are they have what help they need because then oftentimes my thing that I want them to sponsor is a solution not always in fact. Well you know I didn’t know the statistics of that. Not always. So I can’t go in with the mindset of everybody I talk to needs a sponsor my thing because let’s be honest it’s not a fit for everybody. You’re not going to be a fit for everybody. You can’t be you know even the biggest companies in the world aren’t fits for everybody. But if it for the right people it’s a fit. And then the sale becomes easy because then they say you know I am struggling with I need to generate more leads I need some more help with this I need some more help with that. And then you can sit down and come back from say listen I have this event coming up or I am hosting a podcast or I’m doing this thing I’d love for you to be a sponsor of it here who here’s who shows up to it. I think their ideal customer is for you. And it solves your problem of you need to get some more leads. Well let me help you get some more leads. Here’s how that works. Here’s what the investment looks like. Here’s the guarantees. And then it’s a much easier conversation because you’re not pitching them from the angle of. I need sponsors so bad to fund this thing. Instead you’re saying I’m here to help. I would like to be your solution for you. And if you can get you get to that point where you’re helping then it’s a much easier sale.
I can only imagine how much of an easier sale that is and that explains to me so much why so many people have issues getting sponsors because they feel that I need to have that sponsorship to make this fly and without them I can’t do it. They’re not coming from a place of like a partnership in business. Let me help you find your solutions. My next question to you Scott was going to be you know a lot of these businesses that are looking for sponsors might be one of their first or second events. Maybe it’s that new GM owner who just opened up still isn’t confident in their own shoes and is now going to a more established company to say sponsor me. They lack that confidence. Is this how you bridge the gap for that confidence so that they can go and truly ask for that sale.
I think so. If. Let’s just use a fitness trainer as an example of fitness. I love the fitness examples. I think that’s easier to paint a picture if you’re a trainer and you specialize in weight loss. OK. If somebody walks in and they say I’m going to I’m here I’m in excellent shape already and I want to train to become an Olympian. Can you help me. Most fitness trainers. No. No I can’t. Because that’s not my specialty. You need to go see so-and-so because they do this. Oh I’m here to train for a physique competition. What have you most the time they kind of know Will Well can I help them or can’t I help them. It’s hard to turn away business. I understand that if you can’t really help some because sometimes you think well I could learn enough and I could get there and I can make it happen. But you’re not serving a person best. But to answer your question to you the new person new in business putting on your new event if you understand what you can do to help then you can help sponsors just as much as you can help clients because what the sponsor you’re helping them accomplish whatever it is that their goal is most the time of sponsorship their goal is they want to get a return on their investment by sponsoring a thing by getting new customers.
Well you can do that if you have customers already who are a good fit for your partner your sponsor. So just go back to. Can I really help this person or not. Listen I have more confidence in yourself. You know I’m just the smaller business right. Nobody. You know I don’t have this big massive brand but I’ve worked with some big companies and they’ve come to me because they said we think you can help us. And sure I’m not helping them but the macro issues I’m helping them with a very specific thing that I’m skilled at doing. Well listen folks you’re the same way. You have something you can help people with you can help other brands you can help other people regardless of their size. So don’t sit there and think I can’t do it I don’t have the confidence for it just go out and prove yourself wrong and go make it happen.
I fully agree with that and go get a guy go get a guy go get one. So let’s say they’ve had that initial discovery meeting and there’s some interest with both parties Scott like what is that next step.
I mean how did they even begin to formulate a package for sponsorship. Because I know you look at packages and not just a sign on the wall yes.
So first thing go back to the first step of this all this exercise to finding your assets. What do you have available. So after you don’t your meeting go away. Tell him I’ll get back in touch with you. You don’t set expectations there and all that but then sit down and say OK their problem is this. They want help with this. I have these different things that are available to them. What could I offer them and figure out what makes sense to offer them. I could at that the event I have coming up I’d like them to speak for a few minutes or an hour whatever the event looks like. By the way that is the number one thing sponsors will pay big money for. I’ve signed massive contracts like lots of zeros on it for people to come and speak at events because they because that’s the easiest way to get a true investment. But that’s a whole nother topic. But that is an opportunity that you can give us sponsors that come speak and people will pay money for that. Maybe give them a booth maybe to give an email. Put them on signage whatever it is you can start you know putting together the package.
The next question usually come up as well what do I charge them. And unfortunately there’s no one size fits all answer. The best way to cheat if you will is to go look at other events similar to yours both in your area and outside of your area and see how much they’re charging. Yes. I’ll give an example yesterday. I’ve done a handful of half marathons in five Ks and 10K and stuff like that which is funny because I’m a very slow runner but I enjoy it. So I live here in Orlando as I said and I saw yesterday that Universal Studios is doing their very first five K here and they priced it five dollars less than the one that Disney World charges for their five case. They do it all the time but I was laughing and I looked at a lot of the deliverables are what you get. It’s the same stuff that Disney is already offering. They’re just charging me five bucks less. But you know so these big guys are doing exactly the same thing. So if you want to figure out what should I charge somebody for this sponsorship packet then see what else is out there. But at the end of the day there’s one factor that’s important and that is can the sponsor get a return on their investment.
So if a sponsor spends fifty five hundred five thousand five hundred thousand dollars in sponsoring your event can you guarantee in some way that they’ll get 10 times that money back. That’s the way I always look at it when I’ve signed sponsorship deals when I bought sponsorship deals is a better way to put it. That’s the formula I use. If I invest this much can I get 10 times a return on investment. Now most sponsorship deals frankly you don’t get 10 times the return on it. Occasionally you do. But if you as the person who is the host who is selling the sponsorship package in good conscience can can say yes this person can get a 10 times return on that. Then you’re you’re then it’s a no brainer. Then it’s just such an easy decision for the person who’s going to buy the sponsorship because you’re solving their problem you’re giving them very good visibility or assistance or help in whatever their problem is and you’re charging them a price they can get a 10 times return on their investment. And that’s a good deal.
And it is a really good deal for them. But I know the listeners especially those that might be doing their first events and that’s kind of where we’ve taken this podcast are panicked because they’re like I I don’t know that I can promise them that I don’t know that I can promise that they’re going to get a return on their investment.
So how can I even do this deal so couples tricks you could do maybe. So there are a couple things you can do. One you can do a an affiliate only relationship. So what that means is I see some podcasts a lot for example a lot of the podcast sponsors you hear they’re not paying to be a podcast sponsor.
Instead they’re paying affiliate commission to the podcast host. So how that works is you know if people go through your link or they can prove that they they offered it or they signed up or they bought the sponsors product through you then the sponsor would pay you affiliate commission. My favorite program for that right now is click funnels. They you know they pay 40 percent commission. So if you refer business to them they’ll pay you 40 percent commission now it’s structured for an affiliate relationship. There’s no reason why you can’t use it as a sponsor. So if you’re hosting an event set up some sort of an agreement like listen all these people to come you’re going to get a list of leads. Well you know we’ll both see that list of leads when we’re done. Those people will be earmarked towards me and if down the road they purchase something from you then I get a certain percentage back in return. That is a very safe and fair way of doing it. The disadvantage is that you don’t get any money upfront as for hosting it. That could be a big disadvantage but if this is your first event and you want to prove it it’s a nice way to kind of test the waters.
The other thing you could do that is if you’re doing an event and you expect this to happen more than once you can go to the sponsor and say listen I think this would be a great return investment I want to prove it to you. So this first go round we’re going to do an affiliate relationship and you’re gonna pay me just some commission but if it goes well the second time then there’s gonna be a set rate that you pay upfront to help me pay for the event sponsors get that they get that you have to pay for the event. Those are not cheap. Most of the time they understand they just want to make sure they can get a return on their investment. So if you can structure that in a way that’s safer for them that works. So that’s one option is the affiliate relationship. The second one I like is some sort of guarantee. So if you say to the the company that you want to sponsor listen there’s gonna be three hundred people here.
But if one hundred and fifty show up then yearly you have to pay half price. So let’s say the sponsorship fee is a thousand dollars instead of paying a thousand dollars. You’re willing to pay 500 dollars because I only got 150 people here. If three hundred people get that come you’re gonna pay the full thousand dollars. But if I blow it out of the water and 450 people come then it’s going to cost you fifteen hundred dollars or whatever you know whatever it makes sense to you in that in that way. But what you’re doing there is you’re making some guarantees and you’re you’re sharing the risk you’re sharing the burden you are still always going to do your best to go out and get enough people there but you’re you’re helping the sponsor understand listen if this goes bad I’m not going to you know hold your feet to the fire I’m going to give you some protection in here as well. See back to protection.
Everything goes back to the Italian mafia. It does. The more. I believe you’ve got the more I can learn in and I know our audience is learning.
But what I got from that piece is if it’s your event and you’re putting it on then you should bear the risk your sponsors shouldn’t initially bear the risk until you can prove it. So prove it first. Then go back to them and say Help me put this on your risk is low because of my history. I heard that correctly.
Absolutely. That’s the best way to look at it too. Absolutely. I’ve worked through some major conferences that we all know about that their trajectory was going in the wrong direction and we couldn’t get sponsors to come back because the risk was too high. It was well last year you promised me three thousand people two thousand people showed up. I’m not unless you cut their sponsorship fees significantly down. I’m not coming back and who can blame them. I’ve seen the other side as well where last year we told you two thousand people be there and three thousand people showed up and trust me. That’s a much easier conversation for the following time the event happened because like it was great we love it. How much do we write you the check for this year because they got a good return on their investment.
I think that’s my biggest pet peeve in the sponsorship world too many times the event host or the the whatever it is host only thinks about. I need it pay for this thing on a sponsors pay for this thing for me it doesn’t work that way.
The only way it really works is if whatever the sponsor paid they get that return on their investment and they’re happy with it. They got what they wanted out of it.
If you do that then you win I love winning I don’t know but our listeners. But I hope do. Usually this is the time in the show where I ask for one or two more tips and I’m thinking from you since you’ve given us so much already.
If if we’ve not ventured out into the sponsorship arena before we’ve never asked anybody we’ve never hosted our own event. We’ve never done any of that what can we do to position herself to be somebody that somebody wants to sponsor I think again look at what what you have.
So let’s say you know a lot of the brands I work with. One new one that the negotiations with right now. They’ve never hosted an event before but they have a Facebook community that is large. They have a large e-mail list and they have an excellent reputation in their marketplace. Great. You go. You have the right variables to create an event that could be successful. On top of that they’re bringing in the right people to help them do this. So you know me as a vendor looking at this you know I’m thinking my. Yeah. Of course there’s some risk involved they’ve never done an event before. This could go terrible. You know let’s behind this. This might be awful. I’ve done one or two of those and they are no fun at all. But most times. All right. Well they have enough stuff in place this could be good. Well it’s the same if you’re in that boat. Like what do you have to offer like water again.
What are some of your assets and your attributes in your community. Like what do you have in place already. That would be attractive to a potential sponsor. Almost every business I’ve worked with has had that. My wife used to work out this tiny little gym and I don’t know how many people had coming in but there people were raving lunatic fans about this specific gym. They were so loyal to the specific gym that alone carries tons of weight because when this gym owner said to her customers you guys need to go starting in eating at this restaurant because I have helped them to design a specific menu that will help you. Guess what. Her people start eating there that day like literally that day they started going and eat there.
So whatever you have like that whether it be your reputation whether it be your your number of customers or your your social media size and you know no followers whatever tangibles you have that’s the thing that you have to offer the first time you’re going out there.
I think that’s a great place to leave this right here for and encourage people to go out and look for sponsors for their event.
I think they need to be thinking about even if it’s a first time event even if it’s a small event they need to be going out and searching for those sponsors to partner up because it can strengthen an event.
Yep yeah absolutely. Scott this is where I say to our listeners I hope you’ve enjoyed today’s show. I hope. I hope you will revisit this lyric for this and that you’ve learned you need a guy you can hear at least
Once you’ve learned more than that. You need to be looking at your your assets as Scott has said you need to be building those relationships with other folks so that they really are in a position to partner up with you and sponsor your events are you sponsor their events that you need to talk to them like another business person and not like they’re the last key to get your event off the ground. They could never be that they should never take the burden and the risk for you or event they should be your partner and you should be taking that risk in bringing them along for the ride so that it can be bigger and better the next time. Very well said. Polls show notes links to the episode as well as our social media links and Scott’s links can be found at a o e now dot com slash podcast. As always the best part about the show is our listeners we love them we love them we love them.
Take five minutes to download of course subscribe and review our shows so we can know what you love about it and what you would like changed. Scott I can’t thank you enough for taking the time out of your busy schedule because it is the holiday season that’s when we are taking this. He is gearing up for 2019 for coming to spend some time with him with us. We appreciate it.
Absolutely. Happy to do it anytime. Signed by listeners we’ll see you back next week. Hi everybody.
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