How long does it take to go from a product sponsorship to getting paid cash?
Answered in: 2023 Drag Racing Sponsorship Summit Part 1The Answer
Typically expect about one year of product sponsorship before potentially moving to cash. During this time, the brand is evaluating whether you're actually using their products, how well you promote them, and whether you're a good fit for their program. The key is to over-deliver during the product phase - if you can demonstrate exceptional value with $5,000 in product, sponsors will wonder what you could accomplish with $25,000 in cash. Some people stay in constant contact during this period, which shows they're in it for the long-term relationship, not just a quick payday.
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Get full access to 2023 Drag Racing Sponsorship Summit Part 1
2023 Drag Racing Sponsorship Summit Part 1
Session 1 of the 2023 Drag Racing Sponsorship Summit, filmed at the John Force Racing Museum (March 28, 2023): Why Brands Sponsor — why companies sponsor drag racing, how they calculate ROI, what they need from sponsorships, and how co-op marketing money works. Hosted by Alex Striler with Jackie Donahue (Group Marketing Manager, NGK Spark Plugs), Steve Williams (Chief Business Development Officer, K&N), Eric Seibold (Innovations Manager, Permatex), and "Woody" Woodruff (Elite Motorsports).
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