What brands look for when partnering with athletes is just some of what you will learn as we embark on another week of The Business of Being a Race Driver. You will also find out about the challenges facing women in motorsport when it comes to securing sponsorship, how to connect sponsorship with sales growth and much more.
It’s all in this week’s 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
Despite being one of the few mixed gender sports in the world, no woman has raced competitively in Formula 1 – the highest level of motorsport – since the 1970s. With female fans becoming more and more engaged with one of the fastest growing sports in the world, and with women’s sport sitting higher in the cultural agenda than ever before, it’s time to look at the facts and start asking why.
More than Equal’s Head of Research Dr. Fran Longstaff and More than Equal Driver Coach, Sarah Moore discuss the latest insights and trends when it comes to the gender performance and participation gap in motorsport in the video above. Both touch on:
- What research and data tell us on how female drivers are perceived by fans, media and sponsors
- How this matches up with Sarah’s practical experience as a female professional racing driver for 26 years
- The learnings other male-dominated industries can take from the research undertaken so far.
You can also download and read their research report here.
Rolling Stone lists 8 things brands look for when partnering with athletes and creators. “Brands seek partnerships that not only resonate with their target audience but also align with their values and marketing objectives. The new age of social media is a goldmine for those who can tap into its power, so understanding what brands prioritize can significantly enhance an athlete or creator’s chances of securing lucrative sponsorship deals.”
WIMCanada and Surfin’ Berms have put together a networking event where you can learn more about how to move fast – in cars, on bikes, and in your career! Get the knowledge and connections you need from some seriously cool Canadian women in motorsport. This event will be hosted in Calgary, Alberta on March 16th, 2024 – RSVP is required, so be sure to check out all the details and get your tickets! All proceeds will go towards advancing the participation of women in both four and two-wheeled motorsport.
What to expect? All ladies and girls entering this event will be entered for prizes, and refreshments will be available. Come and go anytime from 10am to 2pm. There will be a chance to learn about women in the motorsports industry, high-level women of their sports, a panel discussion for Q and A and more! The event is located inside, the main level is wheelchair friendly. Anyone is welcome to come to this event, but you must RSVP in advance (this will help us with numbers as well as sending the location). Spouses, friends, family are all welcomed to support; this is an all ages everyone welcome event. We are very excited to spend an afternoon with all of you and share our stoke for women in motorsports!
The Queen’s Women in Automotive & Motorsport Conference will be taking place on March 23, 2024 at The University Club. The conference will take place on March 23, 2024, at the University Club on Queen’s Campus. With the purchase of a ticket, delegates will receive entry to the one-day conference, breakfast pastries, coffee, and a buffet style lunch. Check out our instagram @Queensuni_wai for speaker, workshop, and sponsor reveals!
If you are new to News Racers Can Use here at Motorsport Prospects and specifically my Business of Being a Race Driver column, you may have missed some incredible content that I have curated from the most knowledgeable motorsport professionals covering motorsport marketing and sponsorship.
Here are yet more articles for you to review that you may have overlooked. I have been featuring highlights from the Business of Being a Race Driver column every week as this information is still effective and valuable. As they say, knowledge is power!
- Tax Receipts and More Business of Being a Race Driver News
- Sponsorship Deck Tips and a Free Webinar
- Why You Fail to Get Sponsorship
- Getting Sponsorship as You Climb the Motorsport Ladder
Veteran motor racer Peter Cate has compiled his learnings from more than thirty racing seasons into a recently published book, ‘Racing Hell – The Hidden Truths of Motorsport’. I asked Peter to provide an overview of his book and his intentions behind writing it.
From the Sponsor’s Point of View
Sports marketing agency Sport Dimensions explains how to connect sponsorship programs to sales growth.
There are numerous platforms for your brand to invest in to accomplish this. Many of those are your more traditional forms of media, and even social media, that heavily rely on those “impression” metrics that don’t as quickly connect to what you want to see happen – sales growth. When activated appropriately, sponsorship has various unique elements to capitalize on that lead to sales growth. While this approach is not instant, it is effective. If you want a quick fix, this approach isn’t for you.
Sponsorship agency Charge Sponsorship explains a simple way to activate sponsorship suitable for any brand. “Sponsoring an event can be a powerful way to bring a brand to life, but it’s more complex than slapping a logo on a wall. The process of creating memorable experiences for attendees is both an art and a science. In this article, we’ll examine how sponsorship activation is crucial in this process.”
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.
