How To Choose Sponsors - Which Company is Better
A guide on how to choose which sponsors to approach and decide when you have options
Are you being offered a sponsorship deal? Or considering approaching a brand? Hot Damn that’s an exciting time. It’s the first step of a dream coming true, and is well worth enjoying. Maybe you already have a suite of sponsors and are being approached by a new category or to replace an existing one. That’s awesome!
However, it’s also worth taking a little pause, and properly thinking through the offer to ensure you’re giving yourself the best opportunity.
Knowing what to look for
The key to good sponsorship partnerships is finding the right fit. You want to be working with people you like, on products you love to ride, for brands whose values match yours.
“There’s no such thing as a free lunch”
It’s always worth considering who is offering the sponsorship and what they gain from having you ride for them. Are they a brand/team manager or owner for this brand? Do they sell this brand in their shop? While you don’t want to be cynical, it’s always worth considering what peoples motivations might be for trying to get you to endorse a certain product, especially when a few options are on the table. Make sure you’re looking out for your own best interests, and follow the path that suits your goals.
”Is it a good fit, will they support and back you”
Using a checklist to make sponsorship decisions
The ESM Framework to help you think through sponsorship decisions.
This framework has been design to help you work through the aspects of a sponsorship partnership that impact how fruitful it can be for your happiness, personal brand, and career development.
“You have to think of the back end. I was going to be making a deal for life. You don’t think about the first cheque; you think about the last.” – LeBron James
Sponsorship Decision Maker 6 Step Checklist:
Your Values - Ensure you know what your own values are before deciding to align yourself with another brand. If you’re unsure how to do this, check out our article on athlete branding and goal setting.
The Brand Values - What is the brand, does it’s values and style match yours? Do you like the product and the way the brand presents itself?
The Team/People you will work with - Who will you be dealing with? Are they a decision maker who can help your career develop with the brand? Do you get on well with them? Who are the other team riders, will you get to meet them and enjoy riding with them?
Current Opportunities - What are your current other opportunities for sponsorship? If you have more than one option then this can be used to increase your worth and get a better deal. What are the trade offs for each opportunity?
Long Term Opportunities - Look at the company you are considering. Have they been around for a long time, do they pay their riders, do they support them and go on trips as a team, does riding for this brand have any implications on how other brands might see you (either positively or negatively). Does this sponsorship limit your opportunities for growth (and a financially successful career) in the long run, and is that what you want. Try to picture yourself 10 years from now, you might be trying to buy a house, start a family, how does this sponsor set you up for your future goals?
Gut Check - Does it feel right, do you feel good and excited about it
If you need it take it - For some people, they’re struggling to afford the keep riding or have boards under their feet. If you’re struggling to get by and a sponsorship opportunity will help you keep going, then take it. No one can ever judge you for accepting free product if you need it, even if that brand isn’t as ‘cool’ as you’d like it to be.
Top tips:
Talk to others - You don’t need to discuss details but chat to other team riders, shops that stock the product, friends. Get a rounder picture of the brand and its future.
Be honest with yourself - Are you a rider who can genuinely offer good value and exposure for the brand, are you unique, do you have an audience? Can you ask for more from them, or offer them more value?
Negotiate. Everything’s up for negotiation, so discuss the terms of the sponsorship, consider if you want to try and get paid and if so how would you deliver them enough value to cover that payment.
Quick Summary
Know your personal values
Know the brands values
Know the team of people you will be working with
Consider Current opportunities
Consider long term opportunities
Trust your gut
Take it if you need it
Next Steps for You
Listen to the audio episode of this article on the ‘Make It Happen’ Podcast for Athletes from ESM.
Additional Resources
Watch
A snippet from the Nine Club Podcast episode with sports management/agent legend Circe Wallace where she gives some great insight into working with big clients and forming partnerships.
Check it out here: https://www.youtube.com/watch?v=kbighGYq5Fw
Read
Le Bron, Inc
I’ve recommended this one before but I’ll say it again. This is great, and the early parts where he is turning down $10mil deals is a huge lesson is partnership decisions.
Check it out here: https://www.booktopia.com.au/lebron-inc--brian-windhorst/book/9781472132444.html
Listen
Episode 172: Danny Davis - Travellin' Dan Looking Sideways Action Sports Podcast
A great episode from Matt Barr at the Looking Sideways podcast with snowboarding legend Danny Davis. Danny is a master in choosing the right brands to work with and his insight is always valuable.
Check it out here: https://podcasts.apple.com/au/podcast/looking-sideways-action-sports-podcast/id1223819766?i=1000547811918