The Business of Being a Race Driver for April 5, 2022-What Is Your Brand?

This week on The Business of Being a Race Driver I bring you news on some great resources and tips related to sponsorship acquisition, branding and more.

Sponsorship and Marketing

• The Wulff Media Group is preparing to make available their How to Land Sponsors in 2022: An Introductory Guide. If you are interested in getting a free copy you can contact them here to get on their waiting list.

• It is important when approaching a potential sponsor that you can explain to them how sponsoring you can help them achieve their business goals. In How is Sponsorship Different Than Other Marketing? sponsorship activation agency Sport Dimensions explains the difference from a business person’s perspective. “Marketing your product and service through sponsorship offers a different experience than if you were to market through more traditional media or even a digital platform. There are more risks, more challenges, more opportunities, and ultimately a host of unique benefits that come along with marketing through sports business. The differences involved may have led you to never try sponsorship before.”

• Megan Lingner looks at the importance of branding in Branding 101: How Racers Can Build a Stunning Visual Brand. “I’ll be straight with you: having branding that aligns with who you are as a racer and person is paramount to building credibility and loyalty among your fans (and sponsors!). And it should be the first thing you think about before creating a website and/or committing to social media.

• On April 12, 2022, Racing Mentor is conducting a webinar on How to Use LinkedIn as a Sponsorship Tool. “​In this hour-long session, we’ll focus on how to create content that gets sponsors to come to you.” Full details and how to register can be found here.

The Economics of Racing

• Choosing what series to race in is as much about your budget as it is about the competition on the track. If you are debating sports car racing, you may want to look at this from yesterday’s Racecraft & Driver Development News, Tips & Techniques: “In Welcome to the Club, Sport; New Porsche Gets Great Start in Michelin Pilot Challenge, John Oreovicz on the IMSA website discusses the debut of the latest generation of the 718 Cayman GT4 RS Clubsport that made a victorious debut in January at Daytona International Speedway. “The reliability of their cars and the level of customer support is what differentiates Porsche,” he added. “Porsche has a great factory testing program, so by the time they start pumping out race cars, they’ve run thousands of miles, whether at Weissach, Nurburgring or wherever they take it. It’s usually a great piece and this car was no different. The GT4 ran flawlessly, and I have every expectation that it will continue.”

• No Money Motorsports dives into FCP Euro’s Lifetime Replacement Guarantee. Is it the real deal? What in fact does it cover? Have a look at FCP Euro – Is the “Lifetime Replacement Guarantee” (Free replacement of consumables) REAL? for all the details.