I’m a big fan of Twitter search. I have a cool plugin for Firefox that brings back the latests tweets for a search term and displays them above the same results for Google. It’s one of the reasons that Google is rumoured to be building similar functionality, to bring back real-time, real-people sentiments. But does [...]
Pilote Media, publishers of Yachtsponsorship.com and the DARK BLUE BOOK will be in attendance at the 2009 World Yacht Racing Forum in Monaco, to be held at the Grimaldi Forum on December 9-10.
The Who’s Who of yacht racing will be in town to discuss many of the issues that are affecting the sport as a business, to network and to forge partnerships. Pilote Media CEO, David Fuller says:
There are not many opportunities to get everyone together in the same room and talk about issues that affect the business of yacht racing. From where we sit, looking at the sport as a whole, there are plenty of opportunities for sailing to do things better. There are a few innovators, but that doesn’t mean that the sport can’t learn from best practise elsewhere. Networking and getting a view on what others are doing should help the sport to grow.
Via Yachtsponsorship.com, Pilote Media will be using several social media platforms to report on the Monaco event, but they probably wont be the only ones. David says:
As a whole, the sport of yacht racing is still scrambling to understand some of the new media opportunities. Certainly many of the brands in the sport just don’t get it, but there are innovators. Mark Turner’s Twitter updates over the last few days for example, describing the unfolding events with their Open60 BT have been compelling because they have a timeliness and a human element. I imagine that the twitter feeds from the World Yacht Racing Forum will be quite entertaining, so keep watching #WYRF.
The World Yacht Racing Forum is also a great opportunity for Pilote Media to promote the DARK BLUE BOOK. The directory is modelled on similar references for other sports and is a useful resource for anyone in the business of yacht racing. The 2009 edition was welcomed by many as a great way to define those in the industry, allowing the sport to be promoted to sponsors and major event partners around the world. David commented:
At last year’s forum, the DARK BLUE BOOK was just an idea, but the timing seemed right. Many of those who attended the first World Yacht Racing Forum also appeared in the first DARK BLUE BOOK. Since we published the first edition in April, we have received hundreds of entries for the 2010 version but the forum gives us a great opportunity to partner with brands who want to be seen as leaders in the industry.
WYRF Chairman and World Champion Sailor Peter Gilmour will open the Forum on 9 December before the opening keynote address by Tom Whidden, President and CEO of North Sails on the state of the industry.
Other presentations will feature the commercial case for sailing sponsorship, the impact of yacht racing on host cities and ports, the measure and evaluation of sailing events’ commercial return, sailing sponsorship and new media.
The World Yacht Racing Forum and Design & Technology Symposium will create the platform for delegates to debate the key issues that are critical to the future of yacht racing. The event will focus on the socio-economic aspects of the sport as well as developments in media coverage and the technical and commercial aspects of large-scale sailing events, especially in terms of their organisation and promotion.
For a full schedule and to register for the World Yacht Racing Forum, visit www.worldyachtracingforum.com
Here are a few highlights… using a cool online video creator
I read a blog this morning that just made me mad. I’ve written a bit over the last few months about sections of the sailing industry that believe their sport is somehow inferior. Perhaps its a UK thing to just find the bad news in order to sell more papers or magazines. Perhaps it is easier to play to the whingers than to look a little further for good news and optimism.
Elaine Bunting, writing in a blog for Yachting World headlined her piece ‘Yacht Racing – Dead or Alive?’ What annoys me more than the article’s premise is that YBW.com don’t allow comments on the site. Instead, in typical old fashioned magazine style, you can email the author and they can choose which comments to show or not.
Well, since this is 2009, if they don’t want to let me comment on their site, I will comment on mine. Here are some of the gems from the article.
…sailing is not a pure sport and can never sell to a mass audience as such. There’s no point in comparing ocean racing to rugby or football. Ocean racing is too technical and distant to be followed in the same way.
Goodness knows what the author defines as a ‘pure sport’. The IOC seem to think that sailing is a sport – it has Olympic representation after all – which is more than can be said for rugby. I agree there is no point comparing sailing to what the English call football (s0ccer), as it is just a ball and two goal posts. Amercian football on the other hand is highly technical.
While on the one hand YBW’s Bunting decrys sailing as elitist, she seems to think that the general public is too stupid to understand the technical complexities of sailing. This can be seen as either insulting or ignorant of facts like hundreds of thousands of people playing the Volvo and Vendee online game. Sports fans are not homogenous. Some people follow the ‘technical’ sport of Formula One to see who is fastest over the line, some are glued to live timing and scoring screens and want to know the effect of the latest aerodynamic part on the 2nd sector, some want to see what the driver’s girlfriends are wearing. Why can’t sailing be pitched at the same level?
Ocean racing … has more in common with a polar expedition than a football match.
While this statement is true, wouldn’t a polar expedition be more exciting if there were two teams in the polar expedition, both aiming to be the first to the pole, or the first to discover a new route. Offshore sailing has been compared to climbing Mount Everest, but they don’t race up the North Face.
The author goes on to prove her case with internal statistics.
Reader surveys have been amazingly consistent over the last 20 years, and the answer has always been roughly the same: the percentage of readers who are ‘very interested’ in sports report-style racing coverage is 4%.
What this statistic hides is that readers of YBW magazines are not racers. If you are into racing, you don’t buy Yachting World, or Yachting Monthly you buy Seahorse or Yachts and Yachting. Moreover, in 2009 if you want sports-report style racing coverage you go to the websites of the events. A monthly magazine will struggle to keep people interested when they already know the outcome. By the time Yachting World tells me who won the Sydney Hobart Race, I have already had the winner’s photograph as my computer wallpaper for 3 weeks.
We do agree with YBW’s blogger when she says:
The thing that so many sailing events organisers do not, and will not understand is people are always, invariably, much more richly fascinating than boats. And those sailors who have the skills and abilities to communicate the experience in the most interesting or visceral way will always have a bigger audience.
This is true, but not exclusively a problem for sailing. Compare the American Le Mans Series to NASCAR. In ALMS, the star is the car. They are the latest prototypes made from technically advanced composites running the lastest bio-fuels. As a result the series is pretty boring unless you are an engineer. NASCAR on the other hand uses stock cars. They are not pretty, they are not too technical and yet hundres of thousands of people turn out every week to watch them race – why? Because the drivers are characters. The good ‘ol southern boy against the blue eyed pretty guy from California versus the cranky greece monkey from Detroit. Sailing does need to make the sailors known.
Sports Fans also love a wreck. Just as NASCAR fans secretly want a bunch of cars to go into the wall at turn 4, so too do sailing fans like a bit of drama like a dismasting or a rescue at sea. It’s human nature.
Is Yacht Racing dead? No way. Take a look at the article today about the next generation. To borrow another phrase from the world of NASCAR. “Nobody knows when the first sailboat race was – we think it was when they built the second sailboat.”
Stop putting down the sport that pays you. Find the good news. Accept that things have to change and move on. If it can be done a better way, do it. Enable a proper debate. Embrace the technology. Marvel at the thousands of people who follow yacht racing via new technology.
Yacht Racing is Dead. Long Live Yacht Racing.
So you want to get sponsorship. Of course you do. What would be better than getting someone else to pay for your dreams? It’s amazing how many emails I get from sports people who imagine sponsors are just generous benefactors who will willingly part with hard-earned cash on the strength of a good idea.
In the business world, there is a similar behaviour. Entrepreneurs with great ideas seek out financiers, early stage investors, business angels, venture capitalists, sponsors. Some of these companies offer the investors a promise of revenue generation – a cash return on investment. Raising money for a venture that might lead to revenue is a hard sell, so imagine how hard it is to sell sponsorship benefits like exposure, brand association or recall.
Still want to give it a try? Your life is about to change. You are swapping the sails for sales. As Bud Fox’s Dad said in ‘Wall Street’:
You get on the phone and ask strangers for their money, right?
You’re a salesman.
So what can sailors learn from entrepreneurs? A lot. Here are some tips on raising money that apply equally to competitive sailors as to early stage businesses.
Have a Business Plan
This is not your sponsorship pitch or presentation, this is a document that shows how you are going to spend the money. Remember that the idea is only as good as the team who is going to deliver it, so the business plan needs to include the personnel and why they are the best people to invest in to deliver the goals.
Get Some Skin in the Game
If you want to start a business, be prepared to invest your own money. Sailors who expect sponsors to risk money in their venture, better throw something into the pot. Those who are not willing to assume such risk are not considered serious by sponsors, and will most likely not receive funding.
Network
While some sponsors do read proposals that come over the transom, plans referred to them by a trusted source, such as a business associate, lawyer or accountant get far more attention. Attend events, not just boat shows and regattas, but trade shows for other industries. Use online tools like Linked-In.
Start Close to Home
People that know you are more likely to invest in you than a complete stranger. Talk to friends and family, talk to a business that you buy from often. If you have a day job, talk to the company that employs you. Of course use common sense – if you are planning a year long, round the world campaign, they might get a sense that you are not exactly commited to your job.
Do you Homework
Sailors should be choosy about who they take money from. Make certain that you really know your sponsor. Where are their markets? What are their products? Understand their motivation and expectations. Know what added value they can bring to the table. Sponsors with good connections can jump start a campaign and keep it thriving. Well-connected sponsors can even make it easier to get additional sponsors.
Show the Sponsor what they get in return.
It’s amazing how many people looking for sponsorship have never thought that a sponsorship deal is two way. The best sponsors only invest when they have a high certainty of the outcome. Successful sponsorship is about knowing what return you expect to make. Anything else is speculation and gambling. If you can show a decent return, in a reasonable period, to the sponsor then they’ll be more inclined to back you. If you can’t then they’ll take their money elsewhere.
Be Googleable.
When I get an email from someone I don’t know these days, I type their name into google or visit the web address associated with their email. You can get your own website for a couple of bucks. If you don’t want to create one from scratch, create a blog on blogger or a profile on Linked-In or a MySpace page.
If you’re not sure on any of these areas, then make sure you get some professional help. It’s a lot better to invest some time, effort and money up front to get the right approach than to waste many months and even more money learning the hard way. Think about what it costs you personally for each month that your business growth is inhibited. When you look at it this way, getting the right support at an early stage can save you a lot more time, money and effort in the long run. I’ll be writing a piece on how to find the right help in coming days.
You’ll notice that I have used the phrase ‘your business’ a lot in this article. If you don’t see your sailing as a business, then how can you expect a sponsor to give you money?
