When the founders of New York’s Museum of Ice Cream asked Fred Schonenberg to come up with a list of potential corporate sponsors, he knew exactly who to contact: Tinder.
Not the first name you’d associate with a pop-up museum dedicated to every kid’s favorite summertime treat? Schonenberg’s biggest skill is matching young companies in need of funding with huge corporations eager to invest in the next big thing.
For Schonenberg, founder of the strategic partnership company VentureFuel, it was a match made in heaven. Tinder got publicity by sponsoring an exhibit that matched people up with their favorite flavor (by swiping left or right, of course). And the Museum of Ice Cream not only got a big sponsor, it got lots of media coverage. The waiting list for tickets topped out at 100,000.
Schonenberg says the strategy for startups is simple: first, figure out what makes your company unique. Then find advertisers who want to up their cool factor by being associated with you.
“The same secrets apply whether you are selling advertising, selling business cards, selling coffee, or selling graphic design,” says Schonenberg. “You need to identify your key consumers and convince them to spend their money with you.”
In the past year, VentureFuel has sold roughly $10 million dollars in advertising with early-stage companies to brands like Netflix, Microsoft, Anheuser-Busch, and Chevrolet.
“We form a bridge to bring those two sides together,” says Schonenberg. “The way I look at it is if what you’re offering can pass the ‘wow test,’ I know that advertisers will be interested.”
As of this month, Schonenberg’s company is officially bicoastal, operating out of WeWork Playa Vista in Los Angeles and WeWork City Hall in New York City. We talked with him about the three pieces of advice he gives clients.
Slow down to accelerate revenue. “Earlier in my career, I had the ‘spray and pray’ philosophy. I would take my message and send it out to 5,000 people, hoping that at least a few of them would respond. It’s like throwing spaghetti against the wall and hoping a strand or two will stick. Instead, you should figure out who are the five to 10 prospects who need your brand. If you can focus on them, your return is going to be insane.”
Understand what your special sauce is. “I think the first time I ever tried to get somebody to write about my company, I sent out the same email to Inc., Entrepreneur, Ad Age, and everyone else. It was a generic ‘this is what we do’ approach—no background, no thought, no timing. Spend time to understand what it is about your company that you do better than everybody else. It’s a crowded marketplace, but something you do is better. That is your special sauce.”
Let your personality come through. “I see these email subject lines that are so ‘salesy.’ Instantly people know that it’s [bad]. Nobody wants to read that. Try to be thoughtful, playful, fun. Look at what you do and find the fun in it. Oh, and you better deliver on what the subject line is.”