Does My Team Need to Win to Build Sponsorship ROI?
Sponsorships are high-profile and highly scrutinized as part of the overall marketing strategy. Often, this will leave brands thinking that if their logo isn’t part of a winning team, the business side of their involvement isn't winning either. These two things do not have to go hand-in-hand, and by developing the right brand activation programs your sponsorship can evolve into a business or technical partnership that reaches far beyond shared logo space.
Even when your team isn’t coming in first, or even able to compete in some cases, your brand can still win. Here’s how.
You’re engaging employees
A team that isn’t excited about what they’re doing is already a step behind. Motorsports have many connections to business through teamwork, communication, trust and the desire to succeed. This creates a relevant springboard for you to improve your own team skills.
Take the assets in your agreement and direct them toward your employees as a reward for great work. This could come in the form of a congratulatory video from the driver, or a piece of race-used memorabilia. There are many ways to showcase your work in the sport firsthand. This allows stakeholders to experience where the money is invested and why it is going there for a renewed sense of spark.
You're building authority with a targeted audience
Motorsports fans are among some of the most dedicated sports fans.
86% of NASCAR fans believe that a car can’t run without its sponsors and 81% of fans appreciate what sponsors provide to the NASCAR experience. In today's environment sponsors aren’t just an add-on to the motorsports world; they’re a huge part of the total experience. This is a platform for you to meet your potential customers that is non-interruptive by nature, causing your brand and messaging to come through in an organic way.
Other forms of media, by nature, interrupt customers from doing what they originally wanted to do. That can lead to a negative experience, especially since we are more and more trained to tune out things that don't apply to us.
You have gained exclusive access
Motorsports offers ways to promote your brand in ways traditional media can't come close to. You can take the money you are about to spend on a TV or print advertisement and turn it into a business-driving sales competition and VIP race day experience through your sponsorship - even if those experiences have to be virtual. Programs like this are what inspire your employees, partners and customers to produce great work and business results over a longer time.
“As a marketing vehicle, auto racing is a proven winner. No sport attracts more corporate sponsorship dollars. Racing is regarded as an exciting, glamorous, unique and effective marketing tool.”
United States Auto Club
You can build diverse audiences
With such a variety of series and audiences engaged in motorsports, you have the opportunity to create a mix across the ones that will deliver the most value to your brand. With the right brand activation, you can reach a global audience through Formula 1, a young audience through Formula Drift, or a wide-reaching American audience through NASCAR, INDYCAR and NHRA. You can remain flexible to tailor what you do around the launch of a new product or service, introduction to a new market, or a host of other creative promotions.
Winning is great, but we want your brand to be in a position where winning on the track is the icing on the cake to your otherwise ROI-generating activation work. If you are ready for more, this guide is here to help you navigate the nuances of sports marketing in your business.
