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Sponsorships In The Motorsport #1
Like the modern day racing car, the sport of motor racing itself has become more sophisticated every year. Today’s racing environment requires special design and engineering skills for car builders. The total team effort also requires the skills of exceptionally talented mechanics and technicians to keep the cars moving at high speeds. The final elements to complete today's racing team package are the corporate sponsors and the business, communication and driving skills of a highly professional driver.
Joyce Julius & Associates specializes in tracking the success of sports marketing programs. On the basis of over twenty years of research, Julius stated in an article for USA Today, that “Dollar for dollar, auto racing is the best bargain in sports marketing.” Their research shows that racing sponsorship is the most economical means of reaching a specific market demographic.
Additional survey’s, such as ones conducted by U.S. News & World Report, claim auto racing is now America’s #1 rated spectator sport. These published surveys also showed auto racing as a leader in paid attendance, with only showing higher attendance levels. Auto racing is the fastest growing spectator sport in the United States with an annual attendance for all forms of racing exceeding 80 million.
In addition to on-site spectator attendance, auto racing attracts tremendous television viewership
at a higher percentage rate than baseball, hockey, basketball, college football, golf, tennis, bowling, and horse racing. Depending on which survey you read, auto racing ranks either first or second to soccer as the most popular sport in the world. This rapid rise in popularity is due in most part to worldwide television exposure, which in turn, attracts a variety of corporate sponsors.
Increasing the bottom line is the main goal of every corporate sponsor, whether through the racing fan’s association with a brand or product, or by on-site entertainment of corporate customers, every sponsor is attempting to increase corporate awareness, and ultimately sales, through positive association to their corporate name. Nearly every industry is involved in racing in some manner. Traditional automotive related companies, beer, tobacco, and automotive companies continue to participate as well as consumer product companies such as breakfast cereal, batteries and film. High-Tech consumer product companies, Internet based companies, and all sorts of Information Technology companies are realizing the advertising value of automobile racing. Other consumer service companies who have joined these sponsors include video rental chains like Blockbuster Video, cable networks such as The Family Channel, and travel destination companies such as Norwegian Cruise Lines and Universal Studios theme parks.
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