A Unique Kind of Experience
We understand that professional sporting events have long been an effective platform for brands to reach their target audiences. While every sport offers its own uniqueness to this approach, the importance of sustainable partnerships in motorsports is a critical aspect.
With a property such as Formula 1, the need to be strategic in all decisions related to the sponsorship, such as creating new and leveraging existing brand associations, while implementing specific measures of success in every step of the process is imperative for sponsors if unique benefits are to be realized.
This critical element of sponsorship offers sponsors the opportunity to make use of exclusive business opportunities by providing concrete rights and specific benefits associated with one of the strongest sporting brands in the world… Formula 1.
Formula 1 has been transcending borders for over 70 years; becoming a global language in sport. It possesses the ability to spark an emotional connection with audiences around the world, making it an ideal vehicle for the development of global brands. Consumers often choose brands that have a personality that is consistent with their own self-concept. By utilizing fan identification strategies through perceived connectedness, and emotional attachments brands are able to target their audiences more accurately.
Racing Without Borders
Formula 1 racing is the most technologically advanced, high-profile sport in the world. Consisting of 23 Grand Prix races annually spread across
5 Continents and attracting over 500 million fans globally, F1 racing offers brands an attractive marketing platform on a global scale.
Taking your investment further
Formula One has acquired a strong reputation among sports sponsorships. During the past decade, Formula One has experienced tremendous growth due to increased awareness that motorsport properties provide uniquely strong marketing benefits to their corporate partners. Motorsport sponsorships provide levels of awareness, favorability, and effectiveness, which are unrivaled in the marketing world. Mega-brands are interested in brand awareness when it’s linked to sponsorship because sponsorship awareness is often linked to brand favorability, purchase intent, and eventually converting into sales. By increasing marketing efficiency and effectiveness, brands are able to maximize the profits from their valuable marketing investment.
In light of Formula One's size of sponsorship investment and global exposure, sponsors need to assess the congruence of the team’s image and their own. However, despite the value and importance of the Formula One's sponsorship market, research toward understanding brand-image transfer in general, and in the motorsport context particularly is lacking. A focused strategy concentrates on serving a particular market niche-defined by geographic boundaries, types of customers, a segment of the product line, or a combination of all three elements.