DIFFERENT SITUATIONS REQUIRE SPECIFIC SOLUTIONS
Marketing can mean a lot of things to different people and that's why it's important to pick those who really get your brand vision so they can apply it to any medium.
In a busy world competing for attention you can learn the skills to capture audiences that will attract sponsorship. When we talk about racing careers the word "career" becomes operative as without partnerships to grow the career, it's likely to follow the same fate of a company without it's network.
a buildup of opinion or feeling in a large section of the population.
In today's social media those who grew their personal brands into followerships were sought after as the latest form of advertiser, otherwise known as "influencers." You may have heard of them. However, in the works of Charlene Li and Josh Bernoff we're reminded that social media doesn't work for all businesses.Companies with undifferentiated or commodity products that don't inspire customer excitement won't find much value in social media buzz. In order to attract these companies you must be willing to dive into their world to understand what will benefit them the most. It could be support forums or a thought-leadership blog to keep their whole industry up to date. What will you be able to offer from your skill set?
Despite declines in some major motorsports viewership it has merely shifted the ever growing popularity to different racing leagues giving more racers the opportunity to shine. Varied interests reflect in by age group, NASCAR continues to pull in viewers with a median age of 42 while the WRC finds success in the 18-28 group. This mean vastly different brands involved from series to series.
Racers can contribute and incorporate many of their lifestyle choices into career building that will open up more brands to advertising in motorsports. Women may account for a small fan base but that doesn't matter as much when racers can offer direct traffic from their social platforms or systems that offer products women buy. Racing becomes only one aspect of a bigger personal brand idea.
GLOBAL MOTORSPORTS SPONSORSHIP SPENDING
What Do Brands Have to Gain?
Once upon a time, motorsports sponsorships were akin to buying a rolling billboard; impressions were almost all that mattered. The same was true for partnering with a brand ambassador. Many businesses, big or small, aligned with key partners to help publicize and market their brand.
Today the most effective sponsorship partnerships deliver on a variety of levels. Impressions and awareness, sure, but also B2B. Employee engagement. Networking inside and outside a particular industry.
In 2009, even in the worst economy seen in several generations, companies were still spending money marketing their brands in motorsports. It’s an idea that might give most CEOs insomnia. Slashing marketing budgets in downturns is custom. But to then spend those fewer dollars in motorsports sponsorships, never a cheap arena to begin with? Insane!
For companies that can stomach the risk, downturns provide an opportunity to capture market share at the expense of cautious rivals. A study released by Foresight Research probed the depth of motorsports influence on purchasing decisions. According to the study, 43% of new-car and new-truck buyers had watched at least one motorsports event in the past year. Fourteen percent had attended an event, and 23% said that motorsports had at least some influence on their buying decisions.
Additionally, 67% of those influenced by motorsports said that power and performance were key messages. And 59% of those who’d attended a motorsports event learned about a specific make and model from visiting a manufacturer’s display at the event. The Foresight Research study also found the pervasive influence of “shouters,” motorsports fans who influence the purchase decisions of others. This group reported giving an average of 10 new-vehicle recommendations per year to other people. This means powerful marketing opportunities even for dealerships even at a local level where leads can be driven by local racers in grass roots leagues. The model is adjustable by business using digital advertising.
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