More expert tips on becoming a pro race driver as well as on securing sponsorship are featured in this week’s Business of Being a Race Driver. You will also find out why it is important to personalize your sponsorship deck, get details on a free sponsorship process checklist that you can download and how sponsorship drives purchasing intentions.
The Business of Racing
From the Driver’s Point of View
Do you want to be paid to race? In the video above, Enzo Mucci explains the 5 steps to becoming a professional race driver. “So you can to be a professional racing driver? Here are the global steps to achieving it.”
PRI explains why a personalized sponsorship deck is necessary to obtain sponsor support and how to effectively put one together.
“Sponsorship managers receive numerous sponsorship decks every month. The decks that grab their attention are the ones that are relevant to their needs. If you receive many emails, you probably only open and read the ones important to you. Similarly, sponsorship managers will only pay attention to the decks that are relevant to their business. To create relevance, you need to customize your sponsorship deck to meet the sponsor’s specific needs. Since every sponsor is unique, your deck should be tailored to fit their requirements.”
Read the full article at PRI here.
Megan Meyer recently hosted a live Q&A on answering your sponsorship questions and luckily she recorded it. You can watch the recording above.
MotiV8 Training has put together a free sponsorship process checklist which will help you stay on the right track as you search for motorsport sponsorship. You can download the checklist here.
Entrepreneur Magazine explains why every athlete should think like a startup founder. “Whether you’re a high-profile star or a lesser-known athlete, thinking like a startup founder can unlock long-term financial stability, emotional fulfillment and career longevity.” You can read the article here.
“If you don’t have the money to race, find somebody who does.” Here is one place to start, the 2024 edition of the Forbes 400, the definitive ranking of the wealthiest Americans in 2024. You can access the list here as well as their real-time ranking here.
From the Sponsor’s Point of View
Motorsport marketing consultant Riccardo Tafà explains how sponsorship drives purchasing intentions.
“In today’s marketplace, sponsorship transcends mere brand visibility—it’s a catalyst that shapes consumer behavior and ignites fan purchasing intentions. By tapping into the deep-seated emotions fans harbor for their favorite sports, teams, and athletes, brands can transform casual observers into loyal customers. This article delves into how strategic sponsorship turns fan enthusiasm into tangible buying actions, enriched with real-world examples and backed by scientific evidence to illuminate these powerful dynamics.”
You can read Riccardo’s article here.
Sports marketing agency Sport Dimensions has put together an article simplifying the motorsports sponsorship formula. “Without a strategy to support the assets you have acquired rights to, sponsorship programs often fall flat after as little as 2-3 years. Contrary to most competitors, we advise brands to begin their sponsorship journey with targeted property spending and grow organically through activation.”
Read the full article here.