This week I look at how race driver Toni Breidinger works hard to bring in new sponsors that will help her grow her racing career.
I also bring you a guide to branding, a look at the sponsorship proposal process and how Scott Dixon funded his racing career.
All this and more in this week’s edition of the Business of Being a Race Driver on Motorsport Prospects.
The Business of Racing
From the Driver’s Point of View
Forbes looks at how Toni Breidinger has seen growth with Toyota Racing Development as she pursues a full-time NASCAR drive. “Breidinger is a rising social media star, showcasing her life as a young woman attempting to make it in the male-dominated sport. She gives a behind-the-scenes look at everything from her off-track training to working with sponsors like Victoria’s Secret and Hot Wheels to her actual race day experiences.”
MotiV8 Training is a great source of knowledge for race drivers and especially when it comes to sponsorship and marketing. This week I bring you two examples.
Episode 154 of the Motorsport Coaching Podcast looks at the sponsorship proposal process. You can listen here.
They also have a great article on How to Develop Your Personal Brand in Motorsport. “In today’s competitive motorsport world, it is more important than ever for athletes to develop a strong personal brand. A personal brand is what sets you apart from the competition and makes you memorable to fans, sponsors, and team owners. There are many things you can do to develop your personal brand in motorsport. Here are a few tips.”
Eddie Garrison looks at Maximizing Your Social Media ROI: A Guide for Business Owners. “Social media has become an indispensable tool for businesses looking to connect with their audience, boost brand visibility, and drive revenue. However, amidst the sea of likes and shares, it’s crucial to understand whether your social media efforts are truly paying off. Enter social media Return on Investment (ROI), a metric that can transform your social media strategy from a shot in the dark to a targeted business booster.”
From the Sponsor’s Point of View
In an opinion piece for BlackBook Motorsport, Austin Schneider, director of business development at sports marketing and creative agency Sport Dimensions, analyses the motorsport marketing landscape and outlines how brands can maximize their sponsorship investments.
Charge Sponsorship explains the difference between advertising and sponsorship. “In today’s economy, where media and technology play a pivotal role, people commonly hear terms like “advertising” and “sponsorship“. These terms often find their way into discussions about entertainment, sports, and even everyday products. It’s important to know that advertisement and sponsorship are different and have separate meanings and effects. Here are the ways to distinguish between sponsorship and advertising and why that distinction is important.”
The Costs of Racing
In the video above, Dirty Mo Media looks at the unconventional way that Scott Dixon has funded his racing career. “Scott Dixon seemed destined for success as he won his way through the kart and lower Formula ranks in Australia and New Zealand, but with every progression came exponential budget growth. As his parents had already mortgaged their home to support his racing endeavors, his father and some local businessmen started an investment corporation that would sell shares of Scott’s potential career earnings to help keep him on track.”