We spend most of our time consulting with brands and advising them on which motorsport team, driver or championship they should sponsor based on their objectives and budget. However, another solid option to utilise motorsport as a marketing platform is to become a partner of a circuit, the question is: why sponsor a racetrack?
Some of the most innovative circuits in the world are not only the venues for Formula 1 and MotoGP races, but they have gone through a diversification process. Of course, motorsport will be always their key element but the venues are now open for business 365 days per year, attracting fans and brands thanks to the various activities they develop.
There are many ways in which a company can leverage a sponsorship with a racing circuit:
Naming & Branding: With international events taking place at the selected circuit, a company can drive brand awareness and preference by naming and be present in the venue where millions of fans enjoy their favourite sport.
Hospitality & Events: Being a partner of a racing circuit gives you access (in a more or less official way) to all the events that take place at the race track. You can invite your guests to watch the F1 race from a privileged spot as well as utilise the venue to organise a "different" corporate meeting.
Product Promotion & Experiential Activities: Launching a new product utilising the circuit facilities is also another great way of leveraging the partnership with the racetrack. Additionally, you can organise test drives of supercars for your key clients and best-performing employees to give them an unforgettable experience.
Content & Digital: Exciting and original content is key to success for every brand nowadays and a racetrack can be the perfect "studio" to shoot fantastic short and long-form videos. Moreover, the official digital channels of the venues can amplify the reach and engagement of your digital campaigns.
As such, motorsport is a 360-degree marketing platform and the idea of sponsoring a racing venue can be very strategic for brands who are looking for specific assets to deploy in their overall business strategy.
Is it clear now why sponsor a racetrack?
Conclusively, although there are a lot of potential benefits, not all the circuits are the same and only expert guidance like Drive can support a brand in structuring the sponsorship in the right way and achieving a positive ROI.
This is original editorial content from Drive Sports Marketing, an agency specialising in Formula 1 sponsorship, Formula E sponsorship, MotoGP sponsorship, and WEC sponsorship.
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