Do we already tell the fee?
When to show the price is a common question among commercial professionals.
In the first meeting? On the first sales presentation? When they ask for it?
First, you want the potential sponsor to be ready. As much as possible.
“Ready” means knowing enough about the value of the project so the price makes sense.
Telling in the first meeting tends to shift the attention on the price, making it harder to perceive the real value of the project.
The first step is to validate that the company needs your sponsorship. Trying to sell something they don’t need won’t work.
Secondly, it’s about building trust and interest, both from technical elements like past results and from relationship skills.
Thirdly, it’s time to bring your proposal to the table.
Commodities like water bottles don’t require such process. It’s a matter of seconds. Sponsorship is different, we look for maximum return with minimum risk.
Once the brand manager recognises how the partnership will help achieving her business goals and enough trust has been built, it’s the right moment.
The time to present your proposal details like contract length, exclusivity, payment fees and conditions.
Your proposal has two options: to be cheaper or different.
There’s always going to be a cheaper competitor, and it’s a path that leads nowhere.
Pick relevance through a unique project, a proposition to be proud of.
Unveil the dollars when the project makes their eyes shine.
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