This week you will get the simple but powerful advice to do what most people wouldn’t do. Call it thinking outside the box or putting in that extra effort, whatever cliche you choose to use is fine. The point is to do what others wouldn’t do because they don’t want it as bad as you do. I also have advice on content creation strategies, why Coca-Cola sponsors racing and more. Let’s get to it!
The Business of Racing
From the Driver’s Point of View
In the video above, Enzo Mucci pays tribute to those race drivers hustling to succeed. “This video is for drivers who are struggling to make their way when they have lack of funds. It’s tough out there but you have to be prepared to do almost anything to make your way in this sport. It’s not fair, it’s just the way the game is (life).”
MotiV8 Training has prepared a guide to content creation strategies so that you can engage your audience with quality content. You can access the guide here.
Ever wonder why Coca-Cola sponsors racing? In the video above, Al Rondon, Senior Marketing Director of Sports & Entertainment at Coca-Cola advises racers seeking sponsorship to find ways they can help companies connect with fans and deliver on their objectives.
I have always been a fan of thinking outside the box, not just in motorsport but in life in general. After reading the article Migration Patterns of the Very Rich in a recent edition of Air Mail, I wondered, could this information could be used for sponsorship acquisition purposes?
Yet more millionaires and billionaires are likely to move soon, with France’s left-wing New Popular Front coalition threatening a 90 percent tax bracket on yearly incomes of more than $435,000. In the U.K., meanwhile, the new Labour Party prime minister Keir Starmer’s proposition to scrap “non-dom” tax regimes, which allow non-domiciled people to pay only U.K. tax on U.K. earnings, is causing apprehension among the wealthier class. An estimated 9,500 millionaires are expected to leave the U.K. this year, according to Henley & Partners, an investment-migration consultancy, making its millionaire drain second only to China’s.
For many, the move is a logical one. A wealth manager for J. P. Morgan explains, “People are looking for balance between quality of life and economic incentive. Milan is centrally located, near Lake Como, near Switzerland. It’s a great city to live and work in.”
Migration Patterns of the Very Rich
As many have said, if you don’t have the money to race, find someone who does. Starting with The Henley Private Wealth Migration Report 2024 produced by Henley & Partners, who bill themselves as The Global Leader in Residence and Citizenship by Investment, might be a good place to start. Those with money are constantly moving and identifying where they are might give you a leg up on locating potential sponsors. You can access the report here. Let me know how it works out!
From the Sponsor’s Point of View
Are you a company considering going it alone with your sponsorship strategy? You may want to reconsider according to RTR Sports Marketing. Granted this advice is from a motorsport marketing company, but it is a good read regardless as it gives you points to consider before you go it alone with your DIY sponsorship strategy.
“When you go solo in motorsport sponsorship, your brand’s visibility is confined to the team’s existing offers. This might seem sufficient, but it’s a fraction of the potential market. Without a comprehensive understanding of the overall motorsport landscape, you might miss out on valuable opportunities that could elevate your brand to new heights.”
Read more in RTR’s Motorsport Marketing Newsletter.
General Motorsport Marketing Advice & Resources
Charge Sponsorship has put together an Expert’s Guide to Sponsorship Valuation. “The most common question at CHARGE is, “How should I price my sponsorship?” Sponsorship valuation involves determining the appropriate price for sponsorship. Everyone cares about sponsorship valuation because it’s at the core of our mindset as consumers. Buyers hate to pay too much, and sellers fear charging too little.”
The Costs of Racing
Brit Louis Foster is aiming for an IndyCar dream by dominating its junior feeder series, and he explains to Motorsport Magazine that America does far more for young drivers than F1.
“Speaking to Motor Sport about his trailblazing climb to the top of the Stateside tree, Foster says that the European circuit has much to learn from the “million-times better” American way, not only in handing young, lesser-funded drivers a chance but also in how to give fans the best possible experience.”
Read the full feature here.
Grassroots Motorsports asks the question, is the Nissan Sentra Cup one of the best deals in motorsport? “The series regularly attracts fields nearing 20 entries, delivering fierce yet surprisingly clean racing. It even gets TV coverage–not just on social media, but on a major network. Oh yeah, did we mention that a brand-new race car costs only $47,000 Canadian (roughly $34K U.S.)? Welcome to the Nissan Sentra Cup.”
Read more here.
Author: Mark Boudreau
Mark is the publisher of Motorsport Prospects. As a former lawyer, he applies his legal background and research skills to assist race drivers by showcasing the resources they need to make their motorsport careers happen.
