The purpose of marketing is to increase sales. Since sponsorship is a tactic of marketing, sponsorships should increase sales. They should not offer exposure or impressions. Good sponsorships penetrate new markets outside a company’s current reach. The most effective teams become the brand’s marketing associates who race cars instead of working in an office. When a company sponsors you, they expect you to help sell more product.
In this sponsorship column, you’ll learn how to make money representing brands through racing. The lessons will come from my book, MotorsportsMarketing and Sponsorships. If racers earn more, their series’ will succeed, more fans will be reached, and motorsports will thrive. Industry growth doesn’t start at the top with a series, it starts at the bottom—one racer at a time.
These lessons might add 30, 40, or 50% (or so) to your understanding of sponsorships and marketing. That might not sound like a lot, but think about it this way … How many more races could you win if you had a 30% increase in horsepower? The same goes for raising money. It all helps.
Successful sponsorships are like snowballs rolling down a hill. If you pack them right at the beginning, they will grow over time. These lessons will explain how to pack value into that ball and get it rolling.