3 Things Athletes Can Do to Win in Sponsorship

IOC (International Olympic Committee) is a nonprofit organization that partners with sponsors to cover the expense of their event and is a platform for showcasing different sports.

Just like concerts, talents get paid an agreed figure by the event organizer. Any activity that generates revenue from the event belongs to the organizer from sponsorship to merchandising revenues, unless another deal is agreed upon.

Every IOC athlete can leverage their talent into landing a sponsorship deal. When athletes secure sponsors outside of IOC and want to bring their sponsors inside of IOC, their sponsorship deal will be frown upon because the athletes’ sponsorships do not transcend into profit for IOC, which obviously is not fair to IOC (the organizer).

Athletes can win with sponsorship in 2020 by doing these 3 things:

1. Plan ahead

Make sure you are offering your sponsor benefits (assets) that they need, want, or desire in exchange for the funding you are requesting. Equally important, show your sponsor how they will receive a gain, whether it’s tangible, e.g., number of eyeballs, or intangible, e.g., self-gratification, in other words they believe in you.

2. Create partnerships

Share the wealth; establish partnership between your sponsor and IOC.

3. Have pre and post sponsored-events

Being part of the Olympics is a big deal even for events that attract small numbers. Being associated with an Olympian does have value. Plan events that celebrate you getting into the Olympics or winning the Olympics and leverage your event to help your sponsor achieve, e.g. visibility, bragging rights, community engagement, a new market, or another benefit that achieves their goal and objective.

credit: IOC NEWS

Roberta Vigilance is the author of several event sponsorship books, teaches an event sponsorship course by phone, online, and in-person, and provides solutions to clients with sponsorship problems.