www.borgerendurance.com
Several people have contacted me lately about sponsorship,
asking me questions such as: “How can I get sponsors?” “Am I a good enough
athlete to get sponsors?” “What is the best strategy?” “What can I expect to
get from sponsors?”.. etc. There are many questions to ask, but one of the best
and most relevant questions to add to the list is this: “What skills and
connections do I have that I can offer to sponsors?” “What value can I add to
their company as a sponsored athlete?” “What ways can I promote them and get
their product or company name out to market?” “How can I think outside the box
in ways to incorporate being connected with a brand that communicates their
mission to their target market?” These are the questions that will get you
thinking the right way about sponsorship if you want to succeed, as companies
want people who understand that it is a partnership, not a one-sided opportunity
to take advantage of someone for personal gains alone.
All parts of this article may not be
relevant for every triathlete, and this article is written primarily for and directed to top
age-group and professional triathletes seeking sponsors, but here I share some
valuable information that can relate to many other things outside of triathlon.It's more of a chapter as opposed to a short article, so get ready to read.
As you will find out, sponsorship may have a lot less to do with how fast you
are than you may think, and more about your community involvement and proving
that adding you to the team can add value to the company.
What does
it mean to be a sponsored triathlete?
Sponsorship is a broad term. Many athletes, amateur and
professional alike, have sponsors. However, this often means totally different
things. Some athletes receive 10% off at a local shop or from a gear-related
company, which they view as a sponsorship, while others (i.e. Ironman World
Champions or Olympic medalists) are earning over $30k a year from a single company
sponsor alone. In triathlon, it’s difficult to obtain financial sponsors,
unless you’re a professional at the very top of the sport. Triathlon is
certainly a fast growing sport, but it’s still a baby in terms of top
professionals securing big corporate contracts and even top dollar prize purses.
Don’t get me wrong, the best triathletes in the world make a great living in
the sport, but that many only be 20-30 athletes in the world, whereas the
lowest minor league single A baseball players are earning a larger salary than 80+% of pro triathletes. There is a HUGE gap from the very top professionals to
the 2nd tier professionals in terms of income earned from the sport.
Most low and mid-level pros have side jobs or other part time or full-time employment. Speaking
of that, when I worked full time at my accounting job in California, I would
listen to online interviews and triathlon podcasts almost all day long, as I
was new to the sport and loved soaking in any info I could about triathlon. I remember
listening to an interview on CompetitorRadio.com with Bob Babbit. He was
interviewing 2008 Olympian Julie Swail-Ertel. Swail stated that although she
had been an Olympian and one of the top female triathletes in the US, she’d
never had a cash sponsor, only sponsors that gave her free product. That puts it
in perspective a bit more. Only if our sport was golf (heck, or even crossfit now...crossfit?!) we would all be set.
Some people love to brag to their friends and
coworkers how they are sponsored. It
feels good to have sponsors, and feels even better to tell people you’re
sponsored. It’s every kids dream growing up. You feel like you’ve made it (at least somewhat) in the
sport. When I tell people I’m a professional triathlete, many assume I am
making a good living in the sport. The truth is, most of my income comes from
coaching and side jobs as opposed to race earnings and sponsor cash, though the
goal is for that to change over the next few seasons.
Some athletes love to list sponsor
logos on their blogs and websites simply to appear professional or like they’re the real deal, and many of these
athletes are not professionals. They’ll list a company that has given them
nothing more than a free T-shirt. I won’t go into whether I think they’re right in doing so or not, because it’s really irrelevant and it’s not my place to say
whether they are truly sponsored or not. You can debate that in your free time,
but it’s somewhat an irrelevant
conversation. Though their motives may be silly, you have to applaud them for
being proactive and taking a great first step in promoting a company and
attempting to start a relationship with them. Anything you can do to form
relationships with companies and promote them is a way to get them to notice
you in a positive way, which can be very valuable down the road.
Let’s be honest. We all like free
stuff; and we all like free money even more, right?! Just because this is true,
doesn’t mean we are selfish and are sponsor-hunting simply for free kickbacks.
Companies clearly understand money and free product is valuable to athletes, especially those in a with a tight budget.
They also often realize that athletes couldn’t often continue what they’re
doing without sponsor help, or at least do it on their given budget, especially
if they are dedicated to the sport and have made a decision to forgo other
full-time employment in order to train full time or near full-time. If most pros would calculate their hourly wage earned through prize money, factoring in training time, race time, and race travel time, among other time spent, they might just get depressed...though triathletes chose this lifestyle, and are hopeful they will keep climbing the ranks and this will change. Like any business starting out, the first few years are a hefty investment. The less
outside income athletes have coming in, obviously sponsors become extremely
valuable, and athletes are very grateful for them. Sponsors usually understand
this. They often know what athletes are seeking and after learning a bit about
you, they know what is most valuable to you.
So, what
is sponsorship?
It can be a variety of things: cash, free nutrition
products, free or discounted services like massage or physical therapy care, a
bike, training and race gear, race travel airline fund donations, cash, and a
slew of other products or services. Sponsorship can come in many ways.
Sometimes it could be exchanging a service for promoting the company as a
sponsored athlete, such as massage. It totally ranges. A top professional usually will have cash
sponsors, a bike company sponsor, gear & nutrition sponsors, and other
sponsors. Their cash sponsors are often triathlon related companies, and are also
sometimes companies like banks or investment firms that have nothing to do with
the sport. The middle level pro’s usually have very few or no cash sponsors,
but often receive free gear & product, and sometimes the chance to earn
money in other ways, such as if their photo appears published in a newspaper or
an online article and a company logo is visible in the photo. This is the case
with one of my sponsors, which provides product as well as this opportunity to
earn cash in this way.
 |
| Pro field athlete (shot put) Adam Nelson used to compete in a "Space For Rent" shirt. I noticed this on TV watching him throw while in college. The shirt got some serious TV air time. A few months later he signed a big contract with Nike...now only if triathlon was on ESPN or ABC! |
There are still
some top nationally-ranked pro triathletes will little or no sponsors. Why?
Mostly because the athletes aren’t really concerned about securing sponsors nor
have tried to do so. Unless you’re a top triathlete in the world, especially in
the Ironman scene which is more popular than Olympic distance draft-legal ITU
racing (in the US), sponsors do not usually approach athletes. The top athletes
in the world, yes, sponsors come ready with an offer on the table; but everyone
else needs to be very proactive in their approach. Sponsors need a reason to partner
with an athlete. They want to see how offering money or product to a single
athlete can directly translate to increased sales. Occasionally you do see
companies willing to and wanting to sponsor athletes simply because they appreciate
athletes’ sacrifices to have a chance to succeed in their sport, or company owners are either a fan or excited participant in the sport, but most often they
are looking for a way to add value to their company.
If you were a company, who would you
sponsor? Athlete A is a middle of the pack amateur who races local races as
well as travels a few times a year to race. They also are a coach of the local
cross-country team, the head Masters swim coach at the local University pool,
and write articles for a top endurance sports nutrition blog. This athlete also
actively uses social media like Facebook and Twitter, and as extremely
connected in many aspects of the community. Athlete B is a very good US pro
triathlete, who is solely focused on racing and has no interest in having a
personal blog or website. Obviously athlete A, although will never be on the
podium on race day, may be able to offer more to a company through their
network and connections tied to the sport and how they’re involved in it. I know an amateur triathlete who has a ton of sponsors. How? She adds value to companies through marketing. She has a following, with over 1000 Twitter followers and thousands of hits a month on her top-ranked endurance sports blog. Companies want to see blogs, websites, and
their athletes to be connected to as many people as possible through online
social media. Social media is powerful. What other way can you instantly
communicate ANYTHING you want to 1000 people, and for free?!!
Also, some companies choose to sponsor teams or clubs rather than individual
athletes, even if the individual is a professional and the club consists of all
recreational athletes. Why is this? Well, they often don’t have to offer the
amateurs as valuable of a sponsorship, but they also understand that 30 people
on a team all wearing their logo may reach more people than a lone individual.
Companies want people who are
involved in the community. They want coaches, teachers, instructors,
businessmen who have friends in the sport, and who buy things. They want leaders of clubs and groups. They want
people who volunteer at local events and races. They want people with a
positive attitude. What is worse than being represented by a pessimistic athlete,
who is constantly complaining, swearing, and simply doesn’t act nor dress
professionally ever? Be professional in every way! Be a true brand ambassador.
Put sponsor logos on your race jersey, and your website. Write blog posts about
their products and do product reviews. Heck, put a logo sticker on your car! Be a
total brand ambassador for the company willing to support you. Commit to
promoting them and none of their competitors. It’s important to understand you
will have a commitment to them, which may mean cutting ties to any possible
competitor brands.
Most importantly, they want people who understand what a
partnership is, and understand business. Sponsoring athletes in any way is an
investment for a company, most often financially, even if they are not offering
cash. Companies must buy their product, so if they offer free product, it’s
still cutting into their income statement. If they offer cash or product, still remember they can deduct some of this as a marketing/advertising expense on their profit & loss statement (...yes, I'm throwing in accounting terms just to feel like I learned something in my past job!). However, they want to support
athletes as they believe in the athlete’s mission, as well as understand the
potential in building a referral program through their athletes. Also, it’s a
PR opportunity for a company, similar to donating to charity. Their media and
marketing team can publish articles explaining how they are involving
themselves in the community and investing in people – things like that. Companies’
reputations are extremely valuable, and when they become known as one that
supports athletes, donates to charity, and runs their business with values and
integrity, naturally their reputation grows strong.
How
should you approach sponsorship?
Whatever
level you are at, understand that sponsors are making a sacrifice. Also understand
you can add value to their company. Both are important. In fact, the latter may
be more important, as ultimately it leads to helping out the sponsor once you
discover your full potential to be of value to them. If you understand this
value and prove it in action, they will see your value and be happy to invest
in you, as they have a return on their investment. Seek out ways you can add
value to a company. Start your sponsor letters or phone calls by introducing
yourself and explaining ways you can do this. Do not start them out by asking
for things, and telling them what you need or want from them! If you introduce yourself as a triathlete
seeking sponsors, asking specifically for X amount of free product, you’re not
going to stand out. You are not in line at the fast food drive through, and this is not your turn to place your order. You’ll likely appear ungrateful and like you feel you’re
entitled to things simply due to your level of competition in the sport. No one
is entitled to anything from sponsors. Earn it! Be valuable! Start your letters out by introducing
yourself, explaining how you align yourself with their company values and why
you believe in their products, and tell them what they want to hear. Tell them
you contribute monthly newsletter articles for the local triathlon club that
reaches 200 people. If you're a coach, tell them you’re a coach and have athletes asking you all the time for product recommendations. Tell them you interact with
hundreds of people each month that may be interested in their product. Tell them ways you can be a vehicle to
deliver their message to their market. If you aren’t a coach or don’t have a lot of
these things on your resume, think outside the box of ways you can get their
product to market or exposure for their brand. There is always a way you can
create value!
It’s important to believe in the
people or companies you’re sponsored by. If you truly believe their products or
services are the best, it’s not difficult to refer people to them, as this
comes naturally. If you refer people to the best quality products and services,
you don’t have to worry about your reputation being damaged, as you know
they’ll be please with their experience.
Sponsor
types
Sponsorship
is like getting a job. It’s often all about who you know. In college business
classes I was told, “your network is your net worth.” I always was a bit
bothered by the quote, as it makes deep and meaningful relationships seem like
they’re always simply established from wrong motivation, through taking
advantage of someone where the goal is selfish benefit from them rather than
honest relationship. However, it can be partially true. Who you know is
valuable. It is the best way to secure a job, though not the only way. Connect
yourself with local shops. Get to know the owners of the local running stores.
Join the local triathlon club; participate in local events, group runs, and
volunteer opportunities. Get connected! Talk to people! Be professional when
doing so, and represent yourself well. The only way I was able to secure a
sponsorship this past season was simply by knowing someone, who knew a company
owner. They were able to put in a good word for me, explain how I was a decent guy
and strong athlete, and I was able to get a foot in the door. Once in the door, you need to prove yourself. The owner didn’t
previously know me, so we would be taking a risk in sponsoring me. Luckily, he was willing to take a risk with me. It’s often
hard to get that foot in the door, but once in, then you have your time to
shine over the next year and prove yourself further. Over time, sponsors will
get to know you and you will have your chance to prove to them you are truly
grateful for their support, and will commit to being a true ambassador for
them. If you owned a company and were looking to hire, would you hire without looking at a resume or doing due diligence, or without an interview? Of course not. If a company doesn't know you, they're taking a risk by sponsoring you. If there's no connection with anyone you know and the company, this is how your blog or website can shed a bit of light about who you are.
There are a variety of relationship types in sponsorship,
though all are valuable. Many large companies who sponsor many athletes simply
give athletes a discount code for discounted or free product. Athletes can log
in online to the order page of their website, and place an order. They may go 2
years without talking to anyone or seeing a face of anyone associated with the
company. Now, there is nothing wrong with this and companies still see value in
this type of relationship (and in fact sometimes it makes it easier for the
athlete), but at the same time the most meaningful and long-term successful
partnerships are those where a personal relationship is created. It is spending time in person with company
representatives where they will get to know you, and thus (hopefully!) want to
support you further, and at the same time you appreciate the growing friendship
and in return are more motivated to create additional value for them. It is through those relationships where you
are introduced to new people, a new network, and additional relationships and
contacts are made.
What is
the process for sponsorship?
As I mentioned, first do some brainstorming and see who
exists in your network that may be a good fit for a partnership, or someone to
approach. This could be contacting friends who own businesses, in and outside
of the triathlon industry. Using your network to get a foot in the door is the
first place to start.
Secondly, explore local sponsors, such as teams run out of
local triathlon and running stores, and local athletic-related companies. Most
teams have a paper or online application you can submit. Always include your
race results, highlighting your best (and omitting your worst), but also always
emphasize your community involvement.
Additionally, many large triathlon-related companies have
online applications. You can often find out this info from their website, and
you can almost always find a website of someone in the marketing department to
send an email to if no sponsorship info is posted. A follow-up phone call is
always a good idea, and when possible stop in in-person, as long as you’re not
interrupting them. Asking them for an opportunity to introduce yourself in
person ahead of time is always a great idea.
There are different ways sponsorships are secured. Some have formal contracts signed by the athlete and company representative. If I was the owner or head of marketing for a company, I certainly would have athletes sign contracts. It is best for everyone, so there is no confusion and expectations are communicated. This can protect relationships down the road as everyone is on the same page. Some companies simply hand out free stuff, with no interest in discussing anything with the athlete about placing their logo anywhere or doing anything in return. In my opinion, they've missed a big opportunity here.
There are different ways sponsorships are secured. Some have formal contracts signed by the athlete and company representative. If I was the owner or head of marketing for a company, I certainly would have athletes sign contracts. It is best for everyone, so there is no confusion and expectations are communicated. This can protect relationships down the road as everyone is on the same page. Some companies simply hand out free stuff, with no interest in discussing anything with the athlete about placing their logo anywhere or doing anything in return. In my opinion, they've missed a big opportunity here.
When do
you need to apply?
Most companies have their next years’ budget set by the middle
of the 4th quarter of the current year. Most triathlon-related
companies have deadlines for sponsorship requests, and many are as early as the
end of October, or mid-November for
sponsorship for the upcoming triathlon. So, get them in early! It often takes
months to hear back, especially from the large companies that receive hundreds
of sponsorship requests.
There is not always one correct way to apply for sponsorships.
You can be as creative as you like. Don’t be afraid to try a new approach and
think outside the box. I have written many letters to companies who don’t
formally have a group of sponsored athletes or a sponsorship request process,
and I was surprised by how many were interested in offering me a few products
for free, such as a few pairs of sunglasses, clothing, or some nutritional
products, even though they typically don’t sponsor many or any athletes.
Is
sponsorship worth my time?
Only you can ask yourself this question. Remember the
opportunity cost principle from business class in college? Approaching sponsors
takes time. If you have the opportunity to make money during the time spent
applying for sponsors, you may consider whether it’s worth it or not. Remember,
even if you don’t secure large sponsorships this year, a foot in the door
starts a relationship, which would prove to be more and more valuable as time
goes on, so it may end up more valuable than you first anticipate.
What can
I expect to receive from companies?
I don’t know any non-professional triathletes receiving cash
sponsorships. I know a few who receive free product, but most sponsorships with
athletes at this level of competition involves a large discount off products or
services. Now, I did mention it’s not all based on results. This is true, but
being a great athlete sure does help, as naturally you have opportunities to be
in the spotlight if you’re frequently on the podium. Sponsors want to total
package. Unless you are a top professional, do not expect to secure a bike
sponsor in the form of a free bike. The markup on bikes in retail shops is not
nearly as large as something like running shoes for example, which you can
usually figure costs a shop about half of what their retail price is. Bikes are
a much larger investment for a shop, and thus shops don’t have the ability to
offer free bikes. Large bike companies sponsor many of the top professionals a
free bike (and sometimes additional cash), but unless you’re one of them, your best
bet on getting a deal on a bike is going through a local dealer shop. You will
have a much better chance through a dealer than contacting a bike company
directly. Is a bike company more likely to respond to an email or phone call
from you, an individual triathlete who’s done nothing for them yet, or a shop
manager who just purchased 20 bikes from them? Applying for a shop sponsorship or a bike
company sponsorship with the help of a shop employee you have a relationship
with is your best bet.
If you’re a mid-level professional,
a more realistic expectation is to be given the chance to buy a bike at pro
pricing, or about 50% off retail. Now, if you get a pro deal on a bike, expect
to be able to sell it at the end of the year for around near what you paid for
it, or possibly slightly above that. Depreciation on new bikes is huge! That
said, you may consider saving some time by buying a 1-3 year old used top of
the line bike on Craigslist or ebay. You may save some time, yet again you may
miss out on the chance to develop a relationship with a bike shop by skipping
out on the attempt.
Some people have told me, “Ryan,
free stuff isn’t money, and therefore it’s not worth much.” Remember,
especially if you already own current gear. If you are able to get new gear for
free, such as a wetsuit and speedsuit, or a cycling trainer or bike parts, for
example, you’re able to sell your old gear for cash. Therefore, I argue, free
product is often equal to cash if you’re able to sell and replace your old gear
with it. It’s something to think about
than many people fail to realize. Triathlon gear isn’t cheap!
There is no one right answer to approaching sponsorship.
Honestly, you have to take each sponsor by a case by case basis – and
truthfully, you never really know what will happen until you have tried. Applying and reaching out can never hurt, if
you have the time. You never know what possible relationships may come from the
process, just be realistic in your expectations, be patient, and understand the
importance that you create value for the company. Most importantly be truly
grateful for companies being willing to support you, and communicate that
gratitude with them.
I came across an interesting article written by Dan Empfield
of Slowtwitch.com titled Earn the Money
about sponsorship relations and athletes earning their money in a variety of
ways as pro athletes, acting truly as professionals
in all sense of the term. You may find it interesting, as did I. The link can
be found here (as if this post wasn't long enough for you!):
Now, who wants to sponsor me?
Ryan Borger
