The 2024 Drift Sponsorship Summit is coming and in this week’s Business of Being a Race Driver I have all the details. You will also learn how to use rejections to improve your sales technique, an interview with the author of Motorsport Sagas: Unlocking the Power of Storytelling in Racing and what the recent Charlotte Tilbury sponsorship in F1 Academy says about the future of sports sponsorship.
All this and more in the latest edition of The Business of Being a Race Driver on Motorsport Prospects.
Don’t forget that the Motorsport Prospects Weekly Newsletter is now available so you will not miss out on any news racers can use! Check out the footer of every page on the Motorsport Prospects website and sign up now!
The Business of Racing
From the Driver’s Point of View
In the video above, Enzo Mucci explains how to use the No’s and rejections to improve your sales technique and approach.
Do you need sponsors to drift? The 2024 Drift Sponsorship Summit will explain why brands sponsor and what they want from representation. Everyone who attends the live event will receive access to the recording.
The webinar takes place on Wednesday, March 20, 2024. All times are Pacific Time Zone.
- 3:00 – 3:30pm SPONSORSHIP 101: WHY BRANDS SPONSOR
- 3:30 – 4:00pm EFFECTIVE ACTIVATIONS & PERSONAL BRANDING
- 4:00 – 4:30pm NETWORKING & MEETING NEW SPONSORS
- 4:30 – 5:00pm DECKS, PROPOSALS & PROOF OF PERFORMANCE REPORTS
- 5:00 – 5:30pm CREATING VALUE WITH SOCIAL MEDIA
- 5:30 – 6:00pm SPONSOR SPEED DATING
Full details and how to register can be found here.
In last week’s Business of Being a Race Driver I mentioned the book Motorsport Sagas: Unlocking the Power of Storytelling in Racing. This week hear from author Alan Dove directly as he explains the sponsorship mind hack that makes you irresistible.
From the Sponsor’s Point of View
Sophie Marsh, director at Sport Unlimited, part of the Unlimited Group, analyses what F1 Academy’s new deal with Charlotte Tilbury says about the future of sports sponsorship in a recent article in BlackBook Motorsport.
“In the context of sports sponsorship, it is certainly unique. It’s also only the beginning of the incredible opportunities for brands. For years, the sports sponsorship landscape has been dominated by beverage (often beer), automotive and financial services. Three traditional, and stereotypically male-dominated, territories. However, this instance of beauty meeting sport bucks that trend in more ways than one. What can we learn from this partnership, and others like it? And what precedent does it set for the world of sports sponsorship for years to come?“
iSport Connect looks at trends in the sports sponsorship business in 2024.
“We believe 2024 will be the strongest year yet for the “business of sports world” in realizing the value and need for better valuing the athletes and influencers in their network. Social media has meant that athletes are able to speak to and influence fans directly – these same athletes often have larger followings than the teams and leagues they are part of. We are already seeing and will continue to see leagues, teams, events, brands, streaming platforms, and media companies all trying to figure out their strategy to better leverage the athlete at the heart of their marketing strategy vs. being an afterthought or just a non-active part of the narrative.”
Sports marketing company Sport Dimensions looks at the underrated ingredient to sponsorship value. “Many factors bring value from your sponsorship program back to your business. Relationships, brand engagement and sales are all the ultimate metrics we want to show sponsorship value. But to get there, you must start internally by properly communicating your assets, activities, and programs to your entire team. A lack of internal communication is one of the most under-the-radar factors that will sink a campaign before it gets off the ground.”
Charge Sponsorship explains the four steps to sponsorship measurement success. “If I knew then what I know now, I would have managed our sponsors much differently. I recommend a four-step process to avoid panicked phone calls or emails.”
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.