Tangible assets are things that can be measured, like impressions in a magazine, spectators you engage, or TV time. While every racer has different assets, there are some that apply to most teams.
Logos on the car, uniform, and helmets
With logos, less is more. It’s better to give one large sponsor all the real estate than dilute everyone’s visibility alongside others. Logos around the upper shoulders and collar have the most value. Helmet logos are valuable when you have an onboard camera or filmed on television.
Logo on team’s website
Website logos have excellent targeted value. People who visit a website seek information, so they tend to pay attention to brands and products on the site. The more visitors to your site, the greater its value to your sponsors.
Logo on the hauler or semi
During races, logos on haulers get diluted because all the distractions at the event. The more semi’s, the less each is worth. Value comes from where it’s parked when you’re not racing. At races, haulers become background art.Off-track, however, a well-wrapped trailer can draw a lot of eyeballs.
Logo in team’s social media
Most social media is viewed on handheld devices, so logos are small and overlooked. While social media is a form of communication and good way to solicit feedback, it does not have the financial value that people assume it has. The benefit is not from posts being uploaded, it’s from posts being shared.
Logo on posters and hero cards
Some fans collect posters and then carry them around all day. By the end of the event, the posters have creases and the edges are frayed. Few people hang up shaggy posters, so give out poster rolls whenever you distribute posters. Posters and hero cards in good condition have value, but ripped up or commercial-looking ones are worthless. Posters are an asset if they are framed and hung up.
Mention in press releases that get published
Most teams send out press releases, but only interesting stories get printed. What’s your story? Classical mythology always has four elements—heroes, villains, conflict, and struggle. Include all four in your story to increase the probability it’ll get published. Published stories, especially if they include sponsors, create tangible value.
Event program or series media guide
Race programs are an easy way to create value for your sponsors.Since promoters are not journalists by trade, they’re always looking for captivating stories for their programs. Like good press releases, give them with an interesting article and high-quality photos. There’s a good chance it’ll get it printed.
Logo in advertisements by other sponsors
Logos in advertisements by other sponsors can have a lot of value if the ads reach relevant customers. If one of your sponsors uses a photo of you in an ad, include as many other sponsor logos as possible to create additional value for them.
Logo and mention in TV footage
If you’re featured in a TV show and tout the superiority of a sponsor’s products, it can have more value than commercials on that network, soTV-time is a tangible asset that benefits all sponsors.
A vignette is a specially produced feature on television.Vignettes are assets that tell your story and include sponsors. They can be worth several times the value of a commercial on that network if the segment is believable and looks like content, not an infomercial.
The Jumbotron is an asset very few teams take advantage of. New teams don’t realize they can submit a video to the director of the Jumbotron.The director’s job is to keep the crowd entertained, so when there are no cars on the track, he needs to fill the screen with something for spectators to watch. Give him cool content at every event to create additional value for your sponsors.
Tickets be used as currency to increase value for sponsors. Companies encourage their salesforce to entertain customers, so use tickets to create these opportunities at your events to add value for them.
Hospitality at every event
Hospitality is a valuable asset to sponsors if brands are paired up with companies they do business with. Some companies support teams just to meet their other sponsors.
Preferred pit space
Pit location is critical. Good pit locations mean that all spectators walk by, while bad locations have very little foot traffic. No traffic means no value
Driver appearances attract customers and give retailers value from publicity of the event. To park your race car in front of Target and sign posters is good. To get mentioned in the local paper is better. To have the event televised on the news is best.
Even if you’re not racing, you have assets that create value for sponsors. It’s not about the race, it’s about how well you promote your sponsors to their customers using all your assets.
The tangible assets listed here are the most common and relatively straightforward to value. But these aren’t the only assets you can offer. Your intangibles aren’t as easily quantified but can significantly the value of your race program to the right sponsor. I’ll go over intangibles in the next blog.