Cheralyn Smith from ACT Clutch just wrote up a great article on fraudulent sponsorships over at the company blog. Here is a sample of the post she made on the subject which continues over at the company blog. Feel free to follow along here and follow the link below to read the complete story.
Being collateral damage or being swindled by a fraudulent sponsorship is something no one wants. When you might see hundreds to thousands of sponsorship proposals in a given year in the motorsports industry, especially at the busiest times of the year like the build-up to the SEMA show, how do you filter the good from the bad?
“I’ve been working in the industry and dealing with sponsorships for 15 years,” said Cheralyn Smith, Marketing Manager at Advanced Clutch Technology, “At ACT, we get hundreds of proposals in a given year, and usually sponsor 40 to 50 of them. However, it seems like in the last couple of years, the amount of fraudulent proposals we receive is growing.”
“With the advent of social media, it seems easier for people to put together fraudulent proposals,” Smith said. “The information is readily available and they can pull images of someone else’s car, logos, car build information and use them in their fake proposals.”
Many of these fake proposals are often a way for the requestor to get cash, or free parts and other goods to turn around and sell for profit. Manufacturers can equip themselves with simple verification measures. Dino Rossi, Jr., Product Manager of Vibrant Performance offered one way Vibrant Performance verifies the legitimacy of the proposals they receive.
“If you don’t know them, structure the deal so you can’t get burned,” Rossi said. “If the person seeking sponsorship is unwilling to accept your terms, walk away because, in most cases, they need you more than you need them.”
Read the Full Story: http://advancedclutch.wordpress.com/2011/09/23/is-that-sponsorship-proposal-legitimate/
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