Why a race driver is also a CEO is just some of what you will learn in this week’s edition of the Business of Being a Race Driver. I also have details on the cost of racing sponsorship and how to network. All this and much more!
Overview
The Business of Racing
Bottom-Up Branding (ft. Troy Green)
Tired of being told your program isn’t “big enough” for a partnership with a major brand? In this episode of the Racer on Demand podcast, hosts Amanda Van Den Elzen and Megan Meyer sit down with Troy Green, Midwest Sales Rep for Maxima Racing Oil and a 25-year engine building veteran, to discuss why Maxima is shifting away from pro-level banners to invest in the volume and loyalty of grassroots racers. Troy pulls back the curtain on how you can act as a marketing extension for a global brand, proving that your value isn’t just a sticker—it’s in the content you create and the connections you already have. You can watch the podcast above.
You’re Not Just a Driver. You’re a CEO Who Happens to Race
I have always counseled race drivers to treat their careers like a business since 80% of motorsport is business with only 20% being the actual racing on track. Will Marotti agrees, and in a recent LinkedIn post he explains why you’re a CEO who just happens to race. Read his full post here and you will understand why.
How Much Does Racing Sponsorship Cost? The Real Numbers
How much does sponsorship cost? Turn One explains the real sponsorship numbers from 100+ racing drivers. “Learn what sponsors actually pay, what determines your rate, and the cost of doing nothing.” You can read the complete quote here.
Why Most Networking Fails (And What Actually Works)
Networking is key in motorsport for a number of reasons, whether it be connecting with race teams, motorsport professionals or potential sponsors. Jeff Beal explains why most networking fails and, more importantly, what actually works. Read his post on LinkedIn here.
5 Reasons Sponsors Say No and What You Can Do About It
Fritz Wilke, Director of Sponsorship Coaching at the Charge sponsorship agency lists the 5 reasons why sponsors say no and critically, what you can do about it. Read his post on LinkedIn here.
The Momentum in Customer Motorsport is Real
Steffen Schmitter, CEO at Sportgeist explains how the momentum in customer motorsport is real base on his experience as the official partnering agency of the Porsche Sixt Carrera Cup Deutschland.
“Customer motorsport is no longer a niche or an alternative. It is the strategic layer within motorsport that delivers direct business impact.”
Read his full post here.
Before You Write That Check…
Brian Scott McRae discusses the the right questions that separate a genuine commercial partner from a team that sees your budget as a finish line. Something to consider before you write that check to a race team.
“The right starting point is a different question entirely: does this organization think like a commercial partner, or like a race team that needs funding?”
General Motorsport Marketing Advice & Resources
17-Point Checklist to Use to Maximize ROI of Sponsorships
If you want to maximize the ROI of your sponsorships, consider acquiring rights that allow you to solve as many business problems as possible in your organization, not only marketing ones. Here is a 17-point checklist Ricardo Fort uses when advising Sport By Fort Consulting clients. You can read what they are here.
Author: Mark Boudreau
Mark is the publisher of Motorsport Prospects. As a 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.
