Newbury Partners - Motorsports Strategy Consulting

The Business of NASCAR

The business of NASCAR is evolving, as
"new" fans rush into the sport and much more
corporate investment comes in; the old formulas
of "motorsports marketing" need to change as well.
Now that NASCAR has become a huge national
phenomenon with incredible public relations efforts -
it would seem NASCAR would be a "can't miss" opportunity.
The fact is that it's harder than ever to make that connection
with fans - your customer.

The fan base is becoming more "casual" which means you have to spend more on "traditional media" to reach the "core" customers - the ones that are important to you.

More corporate involvement has driven up the price of sponsorship - which is pricing some companies out of the mix and makes it harder to be seen through the clutter.

Unless you are spending tens of millions of dollars in sponsorship, using NASCAR as your "media exposure" is not a great investment. Does that mean NASCAR sponsorship doesn't make sense for a company that only has $500K - $5MM? Absolutely not, it can be a great investment - you just have to customize your communication programs to make sure you are monetizing your investment.

There are hundreds of companies using NASCAR to activate their brands today. The old mix of sponsorship, hospitality, and advertising your NASCAR relationship isn't enough today. You have to position your brand and products with your customer to leverage your investment.

Success Drivers

Some keys to success to "move the needle" with your customer:

Understanding the right investment for your brand, industry, distribution channel and
- So many companies have "mismatched" their involvement based on any numbers of these factors - in motorsports, it's easy to make an "emotional" decision that feels good, but it doesn't really have an impact on your sales.
Take your investment straight to your customer.
- It is common to see a company spend a lot of money on a sponsorship program, but never see it taken to the "point of purchase". You are then relying on a complicated chain of events to communicate to make the connection with your customer.
The Emotional Connection - The "NASCAR Secret"
- It's not a secret, but seems like it because so many companies ignore it. Sure, NASCAR is all about speed, power, and excitement, but hard core NASCAR fans love the sport because of the shared values of the people in the sport and the excitement and drama that it brings to their lives. These are the fans that are going to buy your products because they appreciate your involvement. Companies that connect with their NASCAR fan customers on this level will succeed.
75 Million NASCAR Fans/TV Ratings - Don't buy just on these numbers
- Whatever the numbers, it doesn't matter - the important thing is to make it relevant for YOUR customer. Does your product/service index high with NASCAR fans? How do you use racing to reach them in the most efficient manner?
The Whole Company
- Is your whole company from the CEO to the plant, sales, and remote people bought on to your NASCAR investment? More often the answer is no than yes. Making everyone part of the program can produce huge benefits not only in communications strategies, but employee morale.

Motorsports Consulting Programs

The Positioning - A full scale confidential review of your brand/product, goals, objectives, distribution channel, and the best way to take a long term commitment to market in the motorsports world in a way that "sells" product. This includes:

Positioning statement
Benchmarking
Competitive Overview - what your competitors are doing
Industry overview and the NASCAR community
Brand/Property "Personality" Matching - the right driver/team/tracks/NASCAR
relationship
Available partnership/asset opportunities - sponsorship/licensing/mobile tours
Alternative "outside the box" partnership opportunities
Partnership cost review & negotiation assistance
Motorsports media review
Promotional Activation plan
Customer research - quantitative and qualitative (optional)
Employee participation program
Outside agency recommendation - mobile marketing/show cars/public
relations/hospitality
Short and long term Goals and Objectives
Financial overview - the complete picture

The Review - You might be very happy with your current motorsports relationships, but how do you know you are getting the most out of them and you are monetizing your assets as best as possible. A confidential review of your current involvement and make recommendations on how to improve your efforts. Suggest promotional and media activation to support your current efforts. This includes:

Positioning
Competitive Overview - what your competitors are doing
Current Partnership cost/asset review - Are you leveraging your assets as best as possible?
Motorsports media review
Promotional Activation concepts - connecting with your customers
Financial overview - the complete picture

On a Budget - Many companies know NASCAR fans are their target audience, but are either getting priced out of sponsorship or are looking for smaller opportunities. How do you reach your customers in alternative ways? You could become the "big fish" in a "smaller pond" or look at cool alternative opportunities to reach your customers without losing the customer focus. Opportunities abound for these types of companies to reach their customers in very effective ways. This option includes looking at efficient and effective strategies to still reach your customer in a very targeted and effective way. This includes:

Positioning
Alternative focused marketing opportunities - media driven programs, licensing, local racing, dirt racing, fishing
Partnership cost review & negotiation
Motorsports media review
Promotional Activation concepts - connecting with your customers
Financial overview - the complete picture

Ongoing Services - Provide a partnership with your marketing group/agency team to provide constant intelligence and review of opportunities and making the most of your motorsports involvement and excel at promotional activation.



		The Business of NASCAR The business of NASCAR is evolving, as "new" fans rush into the sport and much more corporate investment comes in; the old formulas of "motorsports marketing" need to change as well. Now that NASCAR has become a huge national phenomenon with incredible public relations efforts - it would seem NASCAR would be a "can't miss" opportunity. The fact is that it's harder than ever to make that connection with fans - your customer. The fan base is becoming more "casual" which means you have to spend more on "traditional media" to reach the "core" customers - the ones that are important to you. More corporate involvement has driven up the price of sponsorship - which is pricing some companies out of the mix and makes it harder to be seen through the clutter. Unless you are spending tens of millions of dollars in sponsorship, using NASCAR as your "media exposure" is not a great investment. Does that mean NASCAR sponsorship doesn't make sense for a company that only has $500K - $5MM? Absolutely not, it can be a great investment - you just have to customize your communication programs to make sure you are monetizing your investment. There are hundreds of companies using NASCAR to activate their brands today. The old mix of sponsorship, hospitality, and advertising your NASCAR relationship isn't enough today. You have to position your brand and products with your customer to leverage your investment. Success Drivers Some keys to success to "move the needle" with your customer: Understanding the right investment for your brand, industry, distribution channel and So many companies have "mismatched" their involvement based on any numbers of these factors - in motorsports, it's easy to make an "emotional" decision that feels good, but it doesn't really have an impact on your sales. Take your investment straight to your customer. It is common to see a company spend a lot of money on a sponsorship program, but never see it taken to the "point of purchase". You are then relying on a complicated chain of events to communicate to make the connection with your customer. The Emotional Connection - The "NASCAR Secret" It's not a secret, but seems like it because so many companies ignore it. Sure, NASCAR is all about speed, power, and excitement, but hard core NASCAR fans love the sport because of the shared values of the people in the sport and the excitement and drama that it brings to their lives. These are the fans that are going to buy your products because they appreciate your involvement. Companies that connect with their NASCAR fan customers on this level will succeed. 75 Million NASCAR Fans/TV Ratings - Don't buy just on these numbers Whatever the numbers, it doesn't matter - the important thing is to make it relevant for YOUR customer. Does your product/service index high with NASCAR fans? How do you use racing to reach them in the most efficient manner? The Whole Company Is your whole company from the CEO to the plant, sales, and remote people bought on to your NASCAR investment? More often the answer is no than yes. Making everyone part of the program can produce huge benefits not only in communications strategies, but employee morale. Motorsports Consulting Programs The Positioning - A full scale confidential review of your brand/product, goals, objectives, distribution channel, and the best way to take a long term commitment to market in the motorsports world in a way that "sells" product. This includes: Positioning statement Benchmarking Competitive Overview - what your competitors are doing Industry overview and the NASCAR community Brand/Property "Personality" Matching - the right driver/team/tracks/NASCAR relationship Available partnership/asset opportunities - sponsorship/licensing/mobile tours Alternative "outside the box" partnership opportunities Partnership cost review & negotiation assistance Motorsports media review Promotional Activation plan Customer research - quantitative and qualitative (optional) Employee participation program Outside agency recommendation - mobile marketing/show cars/public relations/hospitality Short and long term Goals and Objectives Financial overview - the complete picture The Review - You might be very happy with your current motorsports relationships, but how do you know you are getting the most out of them and you are monetizing your assets as best as possible. A confidential review of your current involvement and make recommendations on how to improve your efforts. Suggest promotional and media activation to support your current efforts. This includes: Positioning Competitive Overview - what your competitors are doing Current Partnership cost/asset review - Are you leveraging your assets as best as possible? Motorsports media review Promotional Activation concepts - connecting with your customers Financial overview - the complete picture On a Budget - Many companies know NASCAR fans are their target audience, but are either getting priced out of sponsorship or are looking for smaller opportunities. How do you reach your customers in alternative ways? You could become the "big fish" in a "smaller pond" or look at cool alternative opportunities to reach your customers without losing the customer focus. Opportunities abound for these types of companies to reach their customers in very effective ways. This option includes looking at efficient and effective strategies to still reach your customer in a very targeted and effective way. This includes: Positioning Alternative focused marketing opportunities - media driven programs, licensing, local racing, dirt racing, fishing Partnership cost review & negotiation Motorsports media review Promotional Activation concepts - connecting with your customers Financial overview - the complete picture Ongoing Services - Provide a partnership with your marketing group/agency team to provide constant intelligence and review of opportunities and making the most of your motorsports involvement and excel at promotional activation.





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