Each sponsorship throughout the sport of NASCAR comes to life in its own unique way. No two businesses are the same so neither should their activations. In order to see how a race team sponsorship comes to life, let’s take a look at how it all comes together in the beginning. The first step is fully understanding what a new partner wants to get out of their investment. This is the most crucial information in any partnership. A common misconception around NASCAR partnership is that as a sponsor, you are just getting a sticker on a car or a patch on a fire suit. The sport of NASCAR has evolved and morphed into a state where race teams can be looked at as a marketing agency that just so happens to have a race car as an asset. Some of the best partnerships in NASCAR are activated separately from the physical car. As an example, many companies enter the sport looking to raise their brand awareness. Seeing a logo on a car or a driver’s fire suit will help increase the brands recognition, but it takes much more for a targeted demographic to gain a full understanding of how a brands product can be used in their
daily life. Activations like driver appearances, show car appearances, fan zone displays, or even social media posts can be designed to gain a more personal and direct impression on your target demographic. A critical mistake takes place when company invests a massive amount of time and money into a sponsorship without fully understanding how they will reach demographic. A race team can be an ally and often the expert in the NASCAR space, but it is ultimately up to the business to have a solid grasp on what will best help their business grow and develop.
Typically, businesses will only have 3-6 percent of their audience make a purchase on a product. Of that 3-6 percent, the consumer will only stay in a buying mode for 30-90 days. The most important question becomes, how can a business elevate their brand above the competition quickly? NASCAR sponsorships can provide that opportunity. A race car allows for prominent logo visibility and provides access to numerous media sites. These serve as subtle reminders to that 3-6 percent of the product the company is promoting. This raises the sponsor’s brand awareness above the competition and should ultimately lead to sales. Remember, NASCAR fans are the most loyal consumers, they are proven to get behind brands that support this sport. Fans pay attention to which logo appears on their favorite driver’s car, fire suit, hauler, and all at track equipment. Fans will buy apparel to wear in their daily life that proudly display the name of their favorite driver as well as the brand that supports them. One of the many purposes a NASCAR sponsorship serves is to help companies increase their brand awareness and interaction opportunities, add unique content value, and value propositions (what makes the product intriguing to the consumer). NASCAR sponsorships can provide all these benefits on a weekly basis and generate more opportunities to help complete sales for the dedicated 3-6 percent interested consumer base. This process can work whether you are attempting to sell a widget, software, or simple consumables. The goal is to bridge the gap between the sponsor’s product or service and to take advantage of NASCAR fan loyalty by making them forget about any other competitor.
The final piece that is just as, if not more important than anything we’ve already discussed, is having a way to measure your sponsorship. Sponsorship measurement can come in many forms. Partnering your sponsorship with companies like Nielsen, GumGum or Navigate Research can provide easy measurement for TV, Social Media, Website Traffic and overall Return On Objectives (ROO). However, likely the most meaningful tracking can come from the people you interact with on a face to face level. Sponsors can send clients and potential customers to the track with all access passes to the garage and pit road areas. This gives an opportunity for executives to interact outside of a conference room or any office environment, similar to a golf outing at a Country Club. Here at Spire Motorsports, we receive many letters from CEO’s of major companies that write hand written letters to our sponsors thanking them for sharing the NASCAR experience with them. That is the power that comes from a NASCAR race team sponsorship. Hopefully you have a greater understanding of how a race team sponsorship comes to life in NASCAR. This behind the scenes look at how a race team sponsorship comes to life will help you plan accordingly as you consider investing in this type of platform. Crafted intelligently, your sponsorship can make a huge difference in your company’s bottom line!