I haven't mentioned negotiation for sponsorships in my blog yet. Unlike negotiating a performance contract, sponsorships elicit a different value system between client and potential sponsor. I enjoy sponsorship negotiations because it has more room for creativity. Sponsorships come in all forms: most are product in exchange for representation whereas some sponsors pay an athlete monthly to train. The best matches are when an athletes fits the sponsor's target market. For instance, UFC veteran fighter Mike Pierce is an avid spearfisherman and hunter. One of the sponsorships recently signed for him was a company that outfits hunting and fishing trips. He will be a great representative for that company because what it sells fits perfectly with one of his passions outside of the cage.
I found with sponsorships it is important to be open minded and flexible. Sponsors are, after all, a business looking for profit. In what ways can the athlete help the business sell a product? Will the athlete use it and post "x" amount of times on social media (very common), participate in public signing events, wear a patch on fight shorts/banner, mention the company in interviews? Sometimes athletes are given a percentage of sales they make of a product. Iridium creates "sponsorship packets" for athletes. Essentially, the packet gives a personal insight about the fighter and has a "what can I do for you [the business]" section as the main focus. Marketability, once again, is a very important aspect of the fight business. When choosing clients, Iridium takes this into consideration. Fighters signed by our sports agency are all professional and reliable.
I found with sponsorships it is important to be open minded and flexible. Sponsors are, after all, a business looking for profit. In what ways can the athlete help the business sell a product? Will the athlete use it and post "x" amount of times on social media (very common), participate in public signing events, wear a patch on fight shorts/banner, mention the company in interviews? Sometimes athletes are given a percentage of sales they make of a product. Iridium creates "sponsorship packets" for athletes. Essentially, the packet gives a personal insight about the fighter and has a "what can I do for you [the business]" section as the main focus. Marketability, once again, is a very important aspect of the fight business. When choosing clients, Iridium takes this into consideration. Fighters signed by our sports agency are all professional and reliable.
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