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Bob Walker explains everything about agents & agencies

Bob Walker — the "Leigh Steinberg of racing," agent for the Deegan family — on everything agents and agencies: what they do, what they cost, how deals get negotiated, and when you actually need one.

Questions answered in this video

10 questions
Q
How has COVID changed the motorsports sponsorship landscape and funding models?

COVID fundamentally shifted sponsorship from being race-focused to social media-focused. During the pandemic, with no racing happening, the only pipeline available was social media. Athletes who doubled down on social media content saw their numbers grow significantly because people were home looking for entertainment beyond Netflix. This led to brands finding athletes through social channels, and agencies started putting together deals solely through social media. The funding model has now flipped - the majority of funding can come through social media deals first, with actual race sponsorships second. Sponsors are still fans of racing, but being on the vehicle isn't as important as engaging with fans around the sport through digital channels.

Q
What should athletes do to build their social media following for sponsorship opportunities?

Athletes must be personally committed to social media - it has to become part of their culture and daily life, not seen as burdensome. You must invest in yourself because sponsors are looking at the numbers. When two athletes with similar results apply, sponsors will choose the one with 30,000 followers over 3,000. Sponsors also review the quality and type of content you post - they check if you're posting inappropriate content, getting political, or if you're cool, funny, and fit their brand. Your social media is essentially your job interview now. You cannot have someone else do your social media for you - your personality must come through authentically. If you're going to get in the game, you need to be dedicated seven days a week and not be afraid to put your face out there.

How can athletes effectively reach out to potential sponsors through direct messaging?

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What analytics and data should athletes track and provide to sponsors?

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How do agents and agencies typically get compensated for sponsorship deals?

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What services does a full-service sports agent or manager provide beyond finding sponsors?

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How should athletes approach landing major sponsors like Ford or Monster Energy?

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How can athletes provide value to sponsors when they can't race due to circumstances like COVID or off-season?

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What is the difference between revenue opportunities from racing versus being a brand ambassador on social media?

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How important is it to have a sizzle reel for attracting sponsors?

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