The Business of Being a Race Driver for May 17, 2022-What Do Sponsors Want?

The Business of Being a Race Driver for May 17, 2022-What Do Sponsors Want?
Image by spokane1977 from Pixabay

This week in The Business of Being a Race Driver, there is information on how to build your brand through YouTube, how photo royalties work, determining sponsorship ROI, a number of available drives, the cost of racing in the new ERA Championship and more. Enzo Mucci also asks the simple question, have you been loud enough?

The Business of Racing

  • One of the most complex and intriguing forms of marketing over the years has been sponsorship. The industry has evolved massively from logos and egos to rapidly advancing technical partnerships on a global scale. There is no longer room for passive sponsorship management. In Sport Dimensions’ Maximizing the ROI of Your Sponsorship Program in 2022, they discuss how businesses are demanding clear ROI formulas to be delivered regularly to ensure maximum value is created with every dollar of investment.
  • In the video above, Enzo Mucci asks the simple question that you need to answer, Have you been loud enough today?
  • In June 2022, MotiV8 Management is launching their brand new online course Winning Sponsors. This course will help you develop partnerships, how to find contacts, nurture partners, how to use social media to gain growth, networking, lots of templates & bonuses!” Sign up here and be the first to know when the course goes live.

The Costs of Racing

  • Experts in in brand development, advertising, online and digital marketing, and helping create and manage business to business relationships, The Momentum Group has joined Shift Up Now as a Corporate Member. What does this mean to you if you are a female racer? “Professional photography and videography is of paramount importance for all racers to be able to provide for their partners use, and to create their own content online that helps promote their partners. In the age of social media as mass content distribution channels, this is possibly more important than it has ever been before, and The Momentum Group is proud to be stepping up to help Shift Up Now Athletes cover these costs.”
  • Speaking of photography, in Megan Meyer Lingner’s latest Ask the Expert she goes into the details behind Track Photography and Royalties. Megan gets answers to the following:
    • Can I use an image someone took of me?
    • Do I get royalties on images of me or my car?
    • What’s the difference between all the photographers at the track?
  • Formula Scout has a comprehensive look at the new all-electric junior development series the ERA Championship in The first look at ERA: electric racing’s junior single-seater arrival. “The races will last 20-25 minutes and will have grids set by the results of the two qualifyings, where pole awards three points. The standard FIA single-seater points system is then used. There are two driver announcements coming in the next two weeks, and an ongoing search for more drivers who have €120,000 to hand to contest the full season.”

Available Drives

The P1 Goupe has the following drives available. Contact them for more information.

  • Le Mans: P1 Groupe has an opportunity in a Porsche 991.2 GT3R for the Sprint Cup France race at Le Mans that is a support race for the 24 hours of Le Mans. Can be one or two drivers taking part in this bucket list venue! Budgeted are new tires for every session/race, drivers will have access to the 24H paddock during race week, and additional VIP passes can be purchased for the Saturday-Sunday of the 24H itself. Since the event is just 30-days out, team will need a very quick decision. Please inquire for pricing and opportunity details.
  • SRO GT World Challenge Europe – Endurance Championship: A great opportunity for a fast/funded Silver rated driver to join a very strong line up with a top European GT3 program for the balance of the season at a discounted rate. Balance of season also includes official tests at Spa, optional are tests at Hockenheim and Barcelona. The balance of the 2022 season kicks off in a few weeks at Paul Ricard (6-hour), then official Spa 24H test followed by the Spa 24 hours. Season closes with 3H races in Hockenheim and Barcelona. Additional testing is available, at-track hospitality, damage insurance premium, and sponsor placement on the car are included. Please inquire for pricing and opportunity details.
  • We have a Bronze rated driver opening in IMSA Prototype Challenge in LMP3 for balance of 2022 season with Silver co-driver.
  • Also, there is an option available for fast Silver rated driver, heavily discounted, with quick Bronze co-driver, for balance of the IMSA Michelin Pilot Challenge in the GS class in win-capable GT4. Testing options are available with season coming.
Mark Boudreau
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.