[Updated July 2024]

You dream of a racing career supported by incredible sponsors is on its way to coming true. But even once you have inquiry emails sitting in your inbox or your DMs, you still need to figure out exactly how much you’re going to charge as a content creator. It might be tempting to choose the lowest possible number you can think of just to make sure they say yes, but that’s not fair to you and ultimately doesn’t actually make you more desirable as a sponsored racer.

Your sponsorship proposals are all about value—what their exposure to YOUR audience is worth. There are a few factors that go into that valuation and your engagement rate is a big influence.

We’re going to talk through how to evaluate your social media audience and content so that you can create an accurate (and lucrative) proposal for any sponsor. Becoming a sponsored motorsports racer is closer than you even think!

What is Your Engagement Rate?

This is the quantifiable expression of your warm audience. Your warm audience is the section of your followers that are most likely to purchase something that you suggest. They’re not just casual fans; they’re involved in your online profiles and genuinely are interested in you and your thoughts (including what you might think is worth their time). 

So while you might have a small number of followers compared to some of your peers, if those people are highly engaged, that’s far more valuable than a large number of unengaged followers.

A simple formula for figuring out your engagement rate is dividing the number of interactions (likes, comments, shares, saves, and replies) by the number of views or impressions it got. For example, if you shared a behind-the-scenes reel of you working in the shop and it reached 10,000 people and 1,000 of those people interacted in the post in some way, that post has a 10% engagement rate. Average your post-by-post engagement rate by calculating the last 1-3 months of posts, depending on how often you’re sharing.

The average engagement rate is 1-5% (Hootsuite, 2023) with the smaller followings (1K – 5K) having the highest average engagement rate (4.86%). Specifically, for the motorsports industry, it is less than 1% (Social Insider, 2023). We need to get that number up!! No more posting and ghosting!

But your sponsors aren’t only interested in your social media numbers (and you shouldn’t be, either). Much more goes into the conversion process than some blindly-shared posts with no strategy. When you’re putting together your motorsports sponsorship proposal, you also need to consider the following things:

1. Charge For Your Expertise

A platform don’t exist in a vacuum. Your career, experience, and expertise also play a big role in what you can charge. Consider your standing in your specific niche and motorsport. Also, consider what your expertise and experience got you that another amateur doesn’t have. The 10 or so years you’ve invested in learning and growing on and off the track are what you’re charging for; not the few minutes it takes you to make an Instagram post and story.

2. Your Content Creation Process

Before you submit your proposal, you definitely need to determine how long it’s going to take you to create the deliverables they’re wanting or you’re pitching. If reels take your twice as long to create, you should factor that into your pricing. Or, if you have another team member create and edit the content or hire out the work, their time and services need to be included. While ultimately your sponsors are paying for results, make sure that your time, or someone elses, is covered no matter what.

3. Usage Rights and Exclusivity

Finally, you can, and should, charge for the legal details of them using your content. Are you going to be giving this content to them for them to use on their own terms? If so, determine the price and a deadline. I cover this topic in an entire video inside of the Driven by Social Academy (currently $100 off!), with special guest and extremely talented photographer, Rick Belden. Rick is well known in the drag racing world being the best studio photographers and one of Drag Illustrated’s main content providers. Rick and I have worked together for a few years and he’s taught me a thing or two about copyright laws and commercial use of photos and videos, especially the legalities around it and how you can charge, or worse, get sued.

Also, do they want exclusive rights to your support and promotion of their product in that category? For example NGK Spark Plugs is the exclusive spark plug provider for Randy Meyer Racing. We cannot use or share about any other brand, and they have to pay for that exclusivity. Have these conversations before you pitch your proposal and factor in how your work will be used. The more exclusive, the more you should charge.

Now, if you really want to be ahead of the curve, make sure you grab a copy of my free Social Media Algorithm Points Scorecard below. If you’re a racer or a team that struggles with getting your posts on instagram and facebook to get views, likes, and comments, it’s because you’re not working with the algorithm. You can get instant access to the guide right here: