Why Become A Motorsports Sponsor?
A company can benefit from motorsports sponsorship in many ways, such as:
1. Driving Sales
Sponsorship geared towards driving sales can be an extremely effective promotional tool. Many successful companies use motorsports sponsorship to stimulate consumer interest, which in turn, generates sales. Sponsorship also drives traffic to their web sites and increases online purchasing. This contributes to a significant rise in overall sales volume as well.
2. Heightening Visibility and Creating Positive Publicity
Motorsports sponsorship provides wide exposure in broadcast, print and electronic media. This exposure creates positive publicity and heightens visibility of your company’s products and services. The various media covering a racing event usually include sponsor names and/or photos. Additionally, the media coverage you often receive as a sponsor would prove too expensive if purchased outright, assuming it was even available. Motorsports sponsorship often generates publicity that could not have been bought.
3. Enhancing Image and Shaping Consumer Attitudes
Companies are often looking to improve how they are perceived by a particular audience. One way of achieving this goal is by becoming affiliated with well-liked sports personalities. Professional auto racing is the largest spectator sport in the world and reaches a consumer market that crosses all boundaries of age, race and gender. Sponsoring a racing driver is an excellent way to shape the buying attitudes of this vast demographic and will help to generate a positive reaction towards your company and its products and services.
4. Differentiating from Competitors
The mere act of sponsoring a racing driver or team, especially an exclusive sponsorship, is a significant way to create competitor differentiation. Your company name can stand out head and shoulders above the competition. Motorsports sponsorship is a powerful weapon against a competitor with a larger advertising budget. Sponsorship allows smaller companies to compete with their industry giants and consumers often perceive sponsorship in a positive way. Using sponsorship can give you a decided edge over your competition.
5. Enhancing Business, Consumer and Employee Relations
Sponsorships that offer hospitality allow companies the chance to entertain key customers and solidify business relationships. Using sponsorship in connection with a consumer rewards program increases goodwill and customer retention. Companies that use motorsports sponsorship as part of their employee reward and incentive programs experience increased productivity. Treating employees to a fun day of racing excitement is an excellent way to boost morale and to thank them for their hard work.