How Race Directors Are Generating Sponsorship Revenue With ZERO Out Of Pocket Costs...

April 11, 2018

How Race Directors Are Generating Sponsorship Revenue With ZERO Out Of Pocket Costs...

Being a race director is not exactly fun and games – things go wrong, employees don’t show up, runners get injured and venues don’t meet expectations. Despite these as well as many other problems, race directors are expected to pump out smooth, flawless events.

One of the most common challenges race directors face is generating sufficient revenue. According to the Race Director Survey 2016, strategies commonly utilised to generate additional revenue include engaging with followers on social media, fine tuning event-related fees such as entries and registration, and, of course, securing sponsorships.

However, it’s hard to ignore the fact that according to the same survey, 60% of race directors believe that securing sponsors is their most significant event challenge.

In theory, it sounds like an easy task – after all, why wouldn’t a nearby chain of grocery stores sponsor your event in exchange for placing a giant banner at the venue? Or perhaps, it wouldn’t be too difficult to get a reputable bank to help whilst promoting their services for potential participants via email? After all, this is the kind of generic advice widely available online – just Google “finding race sponsors”, and you’ll have it all.

The problem, however, is that securing sponsors is not that simple.

In an ongoing effort to make the ends meet, race directors sometimes forget that good investment is at the core of a successful sponsorship agreement. In other words, by investing in an event, sponsors expect to get something in return. Generally, 200% profit (direct or indirect) is what most reputable sporting event sponsors are realistically aiming for.

In this situation, race directors must be able to provide unique opportunities to their sponsors. The question is, what is that magical thing one can offer to reliably increase the sponsor’s business? Things like brochures, posters, ads, banners and t-shirts are getting a bit old – and they also cost quite a bit of money to make and no TRACTION ON ROI. So who takes the loss – the event or the sponsor? And can the entire thing be avoided somehow?

If only there was a solution allowing to attract sponsors with NO out of pocket costs…

Great news: it does exist, and it’s called BibBoards!

 

What are BibBoards?

BibBoards are revolutionary bib number fasteners that have already helped many runners around the world ditch safety pins for a safer option that is also much more fun.

BibBoards consist of two pieces that simply snap together, securing the bib number without damaging the clothes. This patent pending invention has already been named “the world’s best pinless bib number fasteners”, and the trend is growing.

But how is it relevant for helping race directors attract sponsors? You see…

 

BibBoards place logos right in front of everyone’s eyes!

Unlike “normal” merchandise that often gets lost and forgotten, BibBoards are exceptionally attractive for sponsors as they provide an opportunity to place a logo where it simply can’t be ignored: on bibs. Not everyone walks around with brochures and branded tote bags, but every athlete has to wear a bib. And that bib must be attached somehow. And for each bib, four BibBoards are required!

It’s much easier to convince the sponsors if they get exposure on something that gets seen at up to four places on each athlete, by all other athletes in a race, plus the spectators. In addition, if the event is covered on TV, BibBoards inevitably get caught on camera. And best of all…

 

BibBoards help you make money for your event!

Each BibBoard can come with our Custom Event Logo for everyone to see and trade as collectibles.

By offering them to your attendees for $10 and assuming the 10,000 attendees capacity, race directors can make up to $100,000 in revenue.

Now, imagine selling sponsorship on two of the BibBoards for $10k-$20k additional. This is a great deal for potential sponsors, considering the coverage BibBoards get, as well as the fact that they are 100% reusable and will follow the athletes to many other events to come!

 

BibBoards help race directors secure more sponsorships!

Securing sponsorships for racing events can be extremely stressful, as it’s all about how sponsors will benefit and what they will receive, rather than how your race or cause will benefit, or how amazing the concept behind the event is.

Sponsors are there to increase their sales, whilst race directors are trying to create as much revenue as possible, which includes minimising unnecessary costs.

BibBoards present a great solution for both sides, helping sponsors increase their business via unbelievable exposure.

In order to stay a step ahead of the competition, race directors should consider incorporating BibBoards into their next event.