So you’ve jumped into the world of Motorsport Sponsorship? How do you going about making the most of your investment?
We’ve been involved in Motorsport from a media perspective for several years and we’ve seen many sponsors come and go from the sport. The ones that stick around are the ones that see a return from their investment. While for some, just having a sticker on the side of a car to get some TV exposure is enough (these sponsors tend to leave the sport most frequently), there are plenty of ways to utilise your sponsorship to benefit your business.
Engaging with the sport, creates greater rapport with your brand. This leads to a greater return for your businesses investment in motorsport sponsorship.
So how do you go about engaging in motorsport, and yield that greater return? We’ve seen and worked with several customers on a variety techniques over the years. So let’s run through a couple of our suggestions.
You’ve chosen to support a team or a driver for a particular reason. It doesn’t matter if it’s a young upcoming talent or an established professional, your businesses brand now associated with their brand. To make the most of the partnership, you need their fans to become your customers and your customers to become their fans.
To do that you need to bind the two brands together and there are several ways to do this. Here’s are just a couple of pointers to get you headed in the right direction. If you’d like to know more, get in touch with InSyde Media
- Joint Social Media Campaigns
- Exclusive Website or Newsletter Content
- Joint Advertising in Motorsport Publications
- Driver and Car Appearances at Business Events.
Case Study: You’ll have no doubt have seen that Red Bull sponsor championship winning teams in Supercars, Formula 1 and WRC. But have you ever noticed that they target that sponsorship to build their brand around young drivers and upcoming talent? Which also happens to be their core consumer market.
Red Bull invest a lot in their motorsport sponsorship around championship winning teams, but they get those results from drivers associated with the energy drink brand from a young age. Athletes are promoted from within the Red Bull driver development program. So when teams they sponsor achieve those results, it’s with “Red Bull Drivers” not just drivers who have joined the Red Bull team.
Now this is an extreme example where two brands (Red Bull and the driver) are bound together. We’ve seen similar results achieved in a smaller scale from a variety of sponsorships.
At first glance it may not appear that motorsport being expensive is a good thing, but it is for your business. With motorsport being expensive, it requires teams and drivers to build a group of sponsors to support their campaigns. This means that drivers and teams have a pool of business connections, all possible customers or suppliers depending on the nature of your business.
Let’s go beyond that, your driver or team is competing in a series with between 10 and 30 other competitors. All with their own sponsor groups, which could be prospective business connections. Connections easily accessible by supporting your driver/team and attending on and off track events as part of your sponsorship.
Case Study: Penske is a famous name in motorsport all over the world. But have you ever noticed how all their cars are always supported by Shell?
Penske’s involvement in motorsport is built specifically in conjunction with its core trucking businesses to foster business to business relationships that stretch beyond the race track. One of those relationships is with Shell/Pennzoil, which was forged in Indy Car and now expands to Penske’s involvement in NASCAR and Supercars. The two companies have built a mutually beneficial connection where Penske Trucks use Shell Oils and Lubricants, while Shell supports Team Penske.
While Penske are fortunate that their core business and motorsport go hand in hand. We’ve helped other business build similar relationships as part of their sponsorships in motorsport.
Motorsport is one of the few sports where you, your staff and your customers can get a feel for what it’s like to be part of the competition. Ride Days offer a unique insight what it’s like to be a driver, a sensory thrill unlike anything other sports have to offer. It’s also a fantastic way to build a connection between your sponsorship investment and people you’d like to reward within your business, be it staff or customers.
While not all race cars are suitable for ride days, particularly not open wheel cars (Formula 3, Formula 4 etc). There are several ways to utilise your team/driver that will allow them to showcase their skills to thrill and entertain your staff, customers and even potential customers. It’s usually additional investment on top of most sponsorship packages, but it’s one that will have staff and customers talking about your business for years.
Case Study: Supercars as a category utilise coordinated ride sessions and ride days to help teams add value to their sponsorship packages. Take a look at any Supercars event schedule and you’ll notice either time allocated for rides (usually Friday afternoons) or specific ride days, usually the day after an event.
Supercars understand the commercial investment in motorsport, particularly at the level of Supercars, is significant and teams need extra ways to offer benefit to their sponsors to add value to that investment. This is why they make valuable track time available for these ride sessions during the course of race weekends.
Having covered ride days for both Supercars teams and corporate events. We’ve seen the same reaction from countless people over the years. The exhilaration of the ride, be it in a Supercar, Radical or any number of other cars, leaves passengers with a smile ear to ear.