Okay, you're ready to make a big jump. You've decided to ride the wave of popularity that currently swirls around the motorsports industry. As a businessman, you are ready to invest a portion of your advertising and promotion budget to racing.
Before I can wave the green flag on this important element of your advertising program I must wave the yellow flag instead. Cautionbuyer beware! Yes, motorsports can serve as an effective way to build business if used properly and as part of an overall advertising and promotional strategy, but it must be approached analytically and with an end result in mind.
There are thousands of ways to spend money in racing and new ways being created every hour. It can be a good way to throw away cash. Former NASCAR Winston Cup driver and car owner Junior Johnson once claimed, "The best way to make a small fortune in racing is to start with a large one."
There are a number of different approaches to motorsports involvement that are tried and true and may work for you.
Event sponsorship is a proven method of reaching customers. In 1998, NAPA Auto Parts will sponsor seven NASCAR races. They will sponsor three NASCAR Winston Cup races; the California 500, the NAPA AutoCare 500 at Martinsville Speedway, and for the fourth straight season the NAPA 500, the season finale at the Atlanta Motor Speedway. NAPA will also make its first foray into the NASCAR Busch Series with sponsorship of the NAPA AutoParts 300 at Daytona International Speedway. NAPA continues to support the NASCAR Truck Series with three event sponsorships in that division in 1998.
Dealership Event
Sponsorship
For a dealership, there are several ways to create sponsorships at local tracks. It is important to make your event stand out, to manufacture excitement and enthusiasm in the community. You may want to start with a media partner. Find a local television station, newspaper or radio station, or preferably all of the above and get them involved. Name the race the John Doe Chevrolet/WRAC 100. You can include personalities from your media partners in a media race during the course of the evening. This will produce a much larger exposure base for your event. Include a local charity in part of the festivities; this will help with media coverage and help the community. Contact your local track to find out how to set up a race sponsorship.
Series sponsorships help get long-term exposure for your business. You can team up with your local track and sponsor a division, the John Doe Ford Late Model Division. Create big bucks races that serve as a center point for the season and create media attention. Create bonus situations within the series to maximize your customer exposure; for instance $10,000 if any driver wins five straight races. You may be able to offset your investment with insurance that covers against the bonus (hole-in-one type insurance).
Dealership Car/Driver
Sponsorship
If you decide to sponsor a certain car or driver, please make sure that the team and driver are a good match for you and your business. In 1998 NAPA Brakes will continue its NASCAR Truck Series team sponsorship of Ron Hornaday, the record holder for victories in that division. For NAPA, associating with a winner is an important issue. Ron Hornaday and the Dale Earnhardt team provide us with top quality performances that put the NAPA name at the front, but it's not a necessity that your driver be one of the very top drivers in their division. For dealers, having an accessible, articulate driver who is eager and anxious to help you promote your dealership can be worth more than any number of wins. Make sure that you utilize a show car program that draws customers to your location and can be used at malls, fairs, the track and other promotional events. Putting your dealership name on a car is only the first step to a successful motorsports marketing effort. Motorsports promotions can also be a way to promote different segments of your business. If new car sales are brisk, promote your service element or your used car efforts.
Race fans are an extremely loyal breed. The demographics are targeted directly to your customers, but it is important to carefully plot your motorsports course. Do not overspend. If it's a stretch on your budget then find another way to make it work. Set your budget and stay with it. You must be creative. Today's advertising climate is cluttered with millions of messages so be creative and make your investment stand out.