Latosha Manning- Specialist in Artist Management
The first thing to keep in mind is that music managers earn a 15% - 20% commission off of any earnings Latosha Manning help you generate (the management contract will stipulate which sources the commission is based on and when and how the payments are made). This means that your pitch or proposal will have to be cantered around what (and how many) income sources you currently have and what types of additional sources can be brought into the picture fairly quickly in order for their commitment of time, energy, and resources to be worth it.
Be able to clearly identify audience, their loyalty level and buying habits - apart from buying your music/merchandise and attending your shows (e.g., the highest percentage of your audience members are 34-55 year old females that buy health products; 16-25 year olds that participate in sports events; 40-60 year olds that like to travel etc.). Identify the benefits, properties and/or rights you own as well as how to package and market them to the potential sponsor (e.g. copyrights, patents, trademarks, service marks, merchandise, logos, mailing list, talent, event, image etc.). Know which benefits will be most useful to the sponsor and keep your fees reasonable.. Be clear about the type of image you project. Sponsors will associate with projects that fit with the image they are trying to establish and cater to the demographic they are trying to reach.. Know something about the company(s) you wish to partner with. Know what their sales/marketing goals and challenges are as well as what they have sponsored previously.
Latosha Manning Create/Produce a project that is appealing to the media. Companies prefer projects that can attract TV coverage, especially if their logos and/or products can show up in the broadcast.. Be open to bundling your project with other companies/individuals that have more clout than you if you don't have enough marketing power or media attraction on your own. Keep in mind, however, that you must also limit the number of companies that you attach to the event/project. Conflicts will occur when sponsors compete or don't match well with other co-sponsors.. Enable and help your sponsor to measure the benefits that you are offering. Your project won't attract sponsors unless the sponsors can generate measurable business returns from their sponsorship investments. For example, if 50 people that attend your concerts also purchase products from one of the sponsoring companies using coupons handed out at the concert, that result can be measured and credited to the sponsorship campaign. A project/event that has the potential to be long term or spread to different markets will be more.
