This week you are going to learn what motorsport sponsorship mistakes to avoid as you pursue The Business of Being a Race Driver. You will also learn the top 7 mistakes young race car drivers should avoid, a guide for business’s interested in sponsoring women’s sports and a definitive guide to motorsport marketing.
All this and much more in this week’s edition of The Business of Being a Race Driver on Motorsport Prospects. Its news race drivers can use.
The Business of Racing
From the Driver’s Point of View
In the video above, The Sponsorship Collective explains the motorsport sponsorship mistakes to avoid.
Toni Calderon looks at the Top 7 Mistakes Young Race Car Drivers Should Avoid. “Navigating the world of motorsports is tricky for even a veteran like me, but for young drivers and eager dads looking to make their mark in racing it can be not only frustrating, but also extremely expensive. Making the wrong decisions when you start your racing career can quickly lead to empty trophy cases and even emptier bank accounts.”
In his Ted Talk, Social entrepreneur and business coach Marcos Salazar discusses the 5 steps to building a personal brand you feel good about. “Whether you realize it or not, you have a personal brand, says social entrepreneur Marcos Salazar — and you have the power to shape what it is. Here’s how you can create a brand that captures who you are, who you’d like to be and how you want to make an impact on the world.”
From the Sponsor’s Point of View
Parity has prepared a complete guide for small-to-medium size business on how to invest in women’s sports called 11 Easy Steps to Invest in Women’s Sports: The Complete Guide for Small-to-Medium Size Businesses where they explain how it is easier than most businesses think.
“The world of sports is undergoing a transformative shift, with women’s sports surging to the forefront. As a medium-sized business owner, you might be wondering, “How do I dive into this domain?” Investing in women’s sports isn’t just about potential financial returns but about championing gender equality and creating profound social impacts. Here’s your concise guide on how to make a winning play in the world of women’s sports investment.”
RTR Sports Marketing have published an informative and thought provoking piece titled Women and Formula 1: why are they falling back in love with it? that is well worth the read,
Aston Martin recently made history by allowing Jessica Hawkins to test at the Hungaroring last 21 September. The 28-year-old Briton drove 26 laps of the Hungarian circuit in the AMR21, the team’s 2021 race car. JH is the first female Formula 1 test driver in over five years. Although this event marks a milestone for women in motorsport, Formula 1 has arguably done much more in recent years, making great strides in cultivating a new passionate fanbase: young female supporters. After years of small but significant changes, F1 is seeing teenage girls and women falling back in love with the fastest sport in the world. This shift towards a more diverse female audience could be one of Formula 1’s most important marketing achievements in recent times.
General Motorsport Marketing Advice & Resources
Sport Dimensions have published an excellent Definitive Guide to Motorsports Marketing.
“The $7 billion world of motorsports marketing is challenging, rich and intensely exciting. Some of the largest brands in the world have built their presence from simple grassroots programs to dynamic, multi-series dynasties. From the outside looking in, they make it look easy. But it can quickly become overwhelming for marketing managers, executives, and those interested in working with motorsports sponsorship programs to market their business without the right know-how and support in your corner.”
The Costs of Racing
In the video above, Enzo Mucci explains how you can race for under £25k in the UK via cost-effective club racing. If you are not based in the UK he gives some hints on what you can do as well. Great, actionable advice as usual.