The Race for Sponsor Dollars is On!
By Brian Mackey
All rights reserved

Investing in Marketing (Part 3)

With this as background, every team, every driver, should develop a keen understanding of marketing. Invest in the marketing of your team the same way one invests in a race car, for it is no less an important part of the race enterprise.

Obviously, it is my recommendation to seek the assistance of a qualified and successful motorsport marketing agency. When asking for help, review the record, ask questions, seek references, consider how long they have been in business and recognize the best are not cheap. There are a number of good ones, a bunch of not so good. Do your homework. You devote the best possible examination for other elements of your racing; marketing should reflect the same philosophy. There simply is not a more important part of your racing operation than the marketing of it to the prospective world of corporate sponsors.

I am often perplexed at the racing individual who neglects the need for marketing. "I can't afford it" is a usual response. There is no doubt in my mind that this racer is positioned for failure. His marketing is nonexistent and soon his deficit spending will doom his/her long-term opportunity for success. It is important to understand that marketing is one element of the racing equation that is entirely devoted to creating income and profit for your racing operation. And money has a direct correlation to speed. Marketing should be viewed as a potential profit center, not an ongoing drain of existing funds.

Elements that make up a skillful marketing program are not to be found by simple formula. It is important to develop your own strategy, with your own goals and objectives. Remember that everything you do in your search for sponsors is relevant. Your business meetings, your contacts, your publicity, your network of friends, family and associates.

Beginning (Part 1)

Rule Number One (Part 2)

Marketing Strategies (Part 4)