We read a great article from our favorite marketer, Seth Godin.
It was all about the decisions you tend to make only once (maybe twice) and how you automatically have an experience disadvantage when you make these decisions.
Wildly, these decisions all happen to be quite significant. He mentions planning a wedding, raising money from venture capitalists and applying to college as examples of things you will likely do only once or twice in your life.
Topics: Motorsports Marketing
Read MoreTopics: Motorsports Marketing
One of the greatest periods of time in motorsports is the final weekend in May. The United States celebrates Memorial Day and three of the world’s largest series all compete throughout the weekend across Monaco (F1), Indianapolis (INDYCAR) and Charlotte (NASCAR). Corresponding with all of the racing action are generally a host of announcements from organizations looking to fully leverage the weekend’s platform.
Topics: Motorsports Marketing
Read MoreTopics: Motorsports Marketing
One of the top questions we field from our clients relates to appealing to a younger demographic. It isn't just us, as the shift for many years has been about attracting millennials and keeping them engaged and it has become a top priority for marketing teams as they continue to set goals.
We are seeing companies make dramatic changes in effort to serve a new set of consumer behaviors made possible by higher connection, new technologies and faster pace. It seems the way forward is composed of two opposite approaches: improved digital work and unique experiences all presented in an authentic way.
Topics: Motorsports Marketing
Read MoreTopics: Motorsports Marketing
Sponsorship can be an integrated alternative to traditional media marketing and a platform where consumers are receptive to hearing your message. The data points to how motorsports, and also emerging sports, score much higher than the average messaging engagement figures captured by SportsBusiness Journal in their annual online survey.
Recent growth for motorsports across mainstream media and audiences has also been a boon for new sponsorship programs. Add-on value like Netflix's Drive to Survive and Race show how the on-track product can be enhanced through thoughtful storytelling in a different venue.
Topics: Sports Business, Motorsports Marketing
Read MoreTopics: Sports Business, Motorsports Marketing
In motorsports, the drop of the green flag means go...and go fast. All of that action on the track is compelling for entertainment purposes but what everyone does not see is the action that happens off-track among sponsors and strategic B2B relationships. While sponsorships can cost brands millions of dollars to access the platform, a lot of that "cost" is considered an investment for business development and growth.
Topics: Motorsports Marketing
Read MoreTopics: Motorsports Marketing
With so much information readily available online to consult about sponsorship strategy, brands sometimes ask us "Why do we need to hire an agency?" They wonder why they cannot just go to a property looking for sponsors and deal with them directly without representation or rather hire internally to manage everything. Both are viable options in the short term and in some cases may feel more cost-efficient. Our experience has shown that over a longer term and with more sophisticated operations, you may want to consider an activation agency to help you excel in what is an increasingly unique environment.
Inc. Magazine has done a feature going into more detail about how this relationship works. To expand, we will look into 6 specific ways an agency can provide immediate value to your sports business program.
Topics: Motorsports Marketing
Read MoreTopics: Motorsports Marketing
Motorsports is an exciting, effective, and fast-paced world to bring your brand to life. With many opportunities to take advantage of, onsite and offsite, a successful program requires some planning. There are some key questions here to get you started, followed up by a link to the ultimate guide to motorsports marketing, a place for you to pick up the fundamentals.
Topics: Motorsports Marketing
Read MoreTopics: Motorsports Marketing
No matter where your brand is investing marketing dollars, the value you get back is the priority. For different forms of marketing, there are different value equations. In motorsports marketing, the value equation involves four primary stakeholders: fans, sponsors, teams, and series. Each different channel will function differently, but they all need to work together to maintain a sustainable balance for everyone involved.
Topics: Motorsports Marketing
Read MoreTopics: Motorsports Marketing
Many factors can bring value from your sponsorship program back to your business. There are also a handful of elements your team needs to look out for that can slow down your progress. One of the most under-the-radar factors that will sink a campaign before it even gets off the ground is a lack of internal communication.
This is especially critical during times of uncertainty or when outside factors are influencing the overall marketplace. When things are not normal, it does not mean there aren't opportunities - they just may look different.
Topics: Sponsorship ROI, Motorsports Marketing
Read MoreTopics: Sponsorship ROI, Motorsports Marketing
"These" brands may refer to any of your competitors, any of the vendors you buy from, or any of the brands that you look up to. A group of brands with something in common.
It refers to the other brands that have also chosen to invest in a particular driver, series, venue or team with you. If your brand is sponsoring a property, who else is there with you? What brands do you share space with?
Topics: Motorsports Marketing
Read MoreTopics: Motorsports Marketing
