Why is it important to have sponsors?
Sponsorship is a mutually beneficial relationship between sponsor and recipient. On the one hand, you will get money, goods, or any other material. On the other hand, your sponsor will get exposure that can lead to increased sales or brand awareness.
Many players may not be at a level where sponsorship is a realistic opportunity. However, all players seek to improve their performance and level of play over the course of their career. And with those improvements, greater opportunities may come to work with sponsors. Therefore, keep these ideas and strategies in mind, even if endorsement deals are not currently a part of your career. The truth is, the reputation you build at the early stages of your career will impact how marketable you are when you are playing at higher levels.
Finally, it is worth noting that sponsorship agreements are often undervalued early in an athlete’s career. Do not worry too much about that. Early deals can be invaluable learning experiences for bigger deals in the future. As such, you may want to carefully consider entering any long-term deals early on in your career, instead keep the option open for renegotiating should your value increase quickly.
What do I offer to potential sponsors?
As you begin looking into sponsorship deals, it can be helpful to make a list of what you offer to potential sponsors. What you are looking for is a “competitive advantage” – in other words, what are the skills that you have on-the-court and the qualities that you have off-the-court that can distinguish you from other athletes playing at your level and in your market?
Your on-court reputation for performance
Basketball skills: Are you known for a high shooting percentage, a high number of assists or perhaps intense defensive skills?
Exposure in terms of basketball: Are you well-known in a particular country or regional market? Does your team have international exposure?
Your visibility as an athlete: This can influence which sponsors may be interested in working with you because their sales goals usually have target markets in mind.
Overall behaviour on the court: Are you known for your team spirit and good relationship with teammates, opponents, referees, the media, etc.?
Your off-court reputation
Personal qualities and attributes: Any qualities that could set you apart from other potential endorsers. For example, do you speak several languages? Are you a good public speaker?
Philanthropy and social actions: Being engaged with social actions increases the sponsor’s potential to be associated with that action as well.
Social media presence and followers: Your social media reach is also an important aspect nowadays. Are you using your social media properly?
Overall behaviour off the court: Sponsors generally like to be linked to athletes that are good examples for society off the court.
Identifying potential sponsors
For players in the biggest leagues and in the most visible markets, sponsors may be approaching them to discuss sponsorship. Athletes in smaller markets or playing in smaller clubs or federations may need to be more proactive in how they approach sponsorship. An agent can and should be very useful in this area.
To get the process started, create a long list of possible sponsors. You and your agent can then work through the list and try to initiate discussions with interested companies. Potential sponsors could include companies who are already actively involved in sponsoring the sport of basketball and that are interested in partnering with individual athletes, but also companies that offer products that you enjoy.
Basketball related
Equipment (balls, nets, etc.)
Apparel (shoes, shorts, headbands, etc.)
Training (medical gear, equipment, etc.)
Products/services you enjoy
Clothing (non-basketball)
Personal care products (deodorant, etc.)
Service businesses (restaurants, banks, airlines, etc.)
There is no “magic trick” to ensure that you match the needs of a potential sponsor. However, the best sponsorship agreements are those in which the sponsor firmly believes in and trusts the athlete and the athlete genuinely supports the product he or she is endorsing.
Contacting potential sponsors
While your agent should be the one in charge of looking for your sponsors, you might be in a position where you do not have the required level to have an agent but still want to try and find smaller sponsors that could provide equipment or small quantities of money to support your career. In any case, when approaching any potential sponsor, remember to strive for professionalism and present yourself as worthy of sponsorship. The idea is to approach it as the beginning of a mutually beneficial relationship.
You can just write a letter/email following these steps:
Introduction
Introduce yourself, what you do, where you play, and why you seek sponsorship.
Show your potential
Describe your reach and audience (don’t forget your social media followers!). If you had sponsors in the past, explain what they got from the deal. Use numbers!
Talk about them
You should taylor all your letters to each specific sponsor. Show that you have done your homework and that you have researched about that company. Explain why what they do goes hand in hand with your image and how your audiences overlap.
Deliver the sell
Ask for sponsorship while highlighting the benefits for the company. Put on the table all the possible packages and state that you would be happy to go over the specifics with them.
Call to action
Ask them to get in touch with you. Explain how they can get in contact with you. The best option is to give both, your email, and your phone number. Finally, don’t forget to thank them for their time.
Building good relationships with sponsors
The real work begins after you sign an agreement. In the business of athlete sponsorship, it is always easier to renew an existing contract than to sign a new one. Therefore, it is critical to nurture your existing relationships to promote the chances of a longer-term deal. There will be challenges along the way, but in the process, you can build trust and strengthen the partnership. Take the agreement seriously and commit to do everything you promised.
Hints to keep in mind when building your relationship with your sponsors:
Create a professional partnership
For the relationship between you and your sponsor to be successful, each party must genuinely care about the other. Do not forget to always act professionally with your sponsors. Do what was agreed; but try to go even beyond what was expected.
Make sure you and your sponsor share the same vision
From the beginning of the relationship, sit down with your sponsor and discuss the goals of the relationship from their perspective and yours. Both sides must be realistic and manage the expectations of the other to prevent anyone from being let down or disappointed in the relationship. It can also be helpful to identify the limitations of the relationship.
Regularly evaluate the relationship
Once you have a shared vision in place, you will want to evaluate how the sponsorship is progressing. Set up a mutually-agreeable framework for evaluation – semi-annual or annual reviews, regular conference calls, etc. Ask for feedback from your sponsor about how they see your progress in terms of fulfilling the sponsorship agreement. At the same time, you can provide feedback from your experience, and together you can refine the relationship to make sure both parties are satisfied with its progress.
Find opportunities to add value… always
As long as you are seen by the sponsor as adding value to their products, services and brand image, you have a very strong chance of renewing an agreement and possibly broadening its scope. But, just like personal relationships, the other party must believe that you care and that you bring added value. You can find ways to surprise your sponsors and show them that you are aware of their needs and listening to their goals. For example, learn more about their products, complete a public speaking course or find other ways to bring more than just your name or athletic prowess to the relationship.
Sponsorships should never be the sole focus of your career, but they can be a motivating factor to improving your on-court performance. Working together with your sponsors:
You can achieve greater exposure, develop new skills, and earn more income
Your sponsors can reach new markets, sell more products, and support the game of basketball
It truly can be a “win-win” situation for everyone.