The demise of ADAC F4 and European F4 budgets are just part of what are featured in this week’s The Business of Being a Race Driver.
In addition to discussing the budgets of racing F4 in Europe, I bring you advice on social media caption mistakes you don’t want to make, a comprehensive online motorsport sponsorship course, sports business 101, and some available drive opportunities.
All this and more this week in The Business of Being a Race Driver.
The Business of Racing
From the Driver’s Point of View
Megan Meyer explains why you must avoid these 5 social media caption mistakes. “But not just any content will do—I see tons of racers making big mistakes in what they post, even when they’ve been around for a while. They could share a really cool photo or video, and make sure to tag their sponsors, but if their caption is just a handful of emojis or not more than 1 sentence, or no caption at all, it could damage your reach and ranking with the algorithm.“
MotiV8 Training is putting on another Winning Sponsors LIVE Course webinar set to take place March 1, 2023. The ‘Winning Sponsorship” course is a live 8-week program designed specifically for motorsport athletes who are looking to secure sponsorship in order to continue racing. What does the course include?
The course will cover the following topics:
Week 1: Introduction to sponsorship and the motorsport industry
Week 2: Identifying potential sponsors and understanding their needs (and yours!)
Week 3: Crafting a compelling sponsorship proposal
Week 4: Building a strong personal brand and online presence.
Week 5: Networking and building relationships with your partners.
Week 6: Negotiating and closing sponsorship deals
Week 7: Maximisng the value of a sponsorship and maintaining a positive relations with sponsors.
Week 8: Review and next steps for securing future sponsorships.
Throughout the course, participants will have the opportunity to work on their own sponsorship proposals and receive feedback from Belinda and other course participants. In addition, the course will include guest presentations from experienced motorsport athletes and industry professionals who have successfully secured sponsorships.
By the end of the course, participants will have a better understanding of the sponsorship process, the skills needed to secure sponsorship and a clear plan for how to continue to secure sponsorships into the future.
To register your interest, sign up for their waitlist here and get a free strategy call with Belinda from MotiV8 Training & Management.
Grand Prix Studio now offers services specifically designed for drivers and riders as they aim to provide a level of service to everyone from individual racers to the performance brands that power them. Watch the video above for more details.
From the Sponsors Point of View
Here is an interesting article from Inc. that should be required reading for anybody looking at hiring a brand ambassador or for those who aspire to become one. Want to Use a Brand Ambassador to Market Your Business, But Don’t Know Where to Start? NASCAR Might Provide the Perfect Blueprint. “The key is to first determine what you hope to accomplish. Only then you can determine whether a particular brand ambassador can help you reach those goals.”
General Motorsport Marketing Advice & Resources
There is a lot that goes into sponsoring and promoting race teams! Racing expert Tom Baker has some advice for young drivers you will want to hear: “You are not a racecar driver; you’re a marketing company who uses motorsports to promote other companies and help them grow. You are a marketing entity in a business – not a hobby.” On the video above, Local Biz Now host Joe Vagnone and co-host Renee Breazeale spoke with Tom Baker, WSIC host of “The Lead Lap Show.”
Sports Marketing company Sport Dimensions has put together a comprehensive Sports Business 101: What You Need to Know. “The first thing that you need to know is that the business of sport starts in the marketing department of your company. Often, the decisions are made when brands mix in with sports, but it does not (and probably should not) end there. We are going to explore the tactics, mechanics, and strategies of today’s leaders in sports business and gain an understanding of how you too can leverage this dynamic platform to better your business.”
As part of Power Sponsorship’s new Ask-Me-Anything series with Kim Skildum-Reid, she answers the question are sponsorship agency double-dippers ethical?
The Costs of Racing
Formula Scout looks at the factors that ended ADAC F4, and left much of German racing at risk. It also looks at the budgets required to race in various European F4 series. At that time, the ADAC attributed much of the decline to young drivers’ insistence on racing on Formula 1 tracks rather than some of the less attractive German venues which are scantly seen in series higher up the single-seater ladder than F4. Niessink admits that “we cannot attract clients to decide in favour of Sachsenring, Oschersleben or Lausitzring; they simply don’t want to drive there”.
These racing opportunities come from Race Cars Direct.
ADAC TotalEnergies 24h-race Nürburgring 2023 & Nürburgring Endurance-Series (driver seats available)
Our team, FK Performance, is the winner of the 24-hour race in 2019 in the V5 class. Our successes include numerous top 3 placements in the various classes, as well as the title “Best Team Performance” in the 24-hour race. In 2022 we finished the 24-hour race on P1 in the SP10 class and were the best team of all BMW teams that started!
We are looking for drivers for the following race cars: 2x BMW M4 GT4, 1x BMW 330i
In addition to the successes, we offer other options to create an incomparable flair for customers and friends at the racetrack.
Driver place GT4 European Series ’23 Porsche 718 GT4 RS
W&S Motorsport is a professional motorsport company with many years of Porsche experience. In 2022, the team competed in the Nürburgring Endurance Series (NLS), the 24h Race at the Nürburgring, the ADAC GT4 Germany, the GT4 European Series and the GTC Race. In 2021, the racing team of Patrick Wagner and Daniel Schellhaas took the championship title in the Cayman GT4 Trophy by Manthey Racing in its debut year in the class, was runner-up in the NLS, in the GTC and 2022 European champion in the GT4 European Series and Cup2 champion of the Porsche Endurance Trophy Nürburgring. The strongest track record in the team history so far!
You can get more information here.
Drives in Praga Cup 2023
TGM are pleased to announce race entries of our championship winning team in the 2023 Praga Cup and Prototype Challenge.
The Praga Cup is a 5 round calendar with 3 races per round, 2 x 25 min sprint races and 1 x 50 min pitstop race to allow for drivers to share their car.
Championship Exclusive Test Day
28th February Silverstone GP – Excl Test Day
Championship calendar is as follows:-
25th – 26th March Silverstone GP
22nd – 23rd April Brands Hatch Indy
27th – 29th May Oulton Park International
16th – 17th September Snetterton 300
14th – 15th October Donington GP
Entries include hospitality for both race days and livestreaming of all the races.
You can get more information here.