If you had to guess which type of marketing is the fastest growing, you’d probably guess social media. You’d be wrong, though.
Sponsorship marketing is actually the fastest growing marketing type, and it isn’t just a “feel-good” expenditure.
According to Forbes, “Among the many marketing strategies that a company can use to promote its products and services, sponsorship is one of the few that has the potential for huge payoffs.”
The reasons for that primarily relate to one fact. You can get far more exposure to your target market through an effective sponsorship agreement than through traditional advertising.
Unlike interruption advertising, a sponsorship gives you a way to reach fans where they already are and to do it in a way that feels less intrusive to them.
There are many ways your company can benefit from sponsoring a NASCAR driver, and the ways you benefit should align with the goals that you set.
By setting clear goals and developing a strong activation plan, your sponsorship won’t just be something you do for ego or charity. It will be an integrated part of your marketing plan that you should expect a measurable ROI from.
Here are just 4 of the many benefits that you may see from becoming a NASCAR sponsor:
Expanded brand awareness
Sponsoring a NASCAR driver isn’t just about seeing your logo on the car during the 10-month season.
You’ll also get lots of free brand exposure through news and social media, much of it generated by fans themselves.
Traditional advertising appears and then disappears, and you’re lucky if anyone sees it.
A sponsorship, on the other hand, can provide an ROI far beyond the initial expenditure or sponsorship term.
A NASCAR sponsorship gives you ongoing exposure through things like race updates, the driver’s hero cards and uniform, collectibles, news, and social media. This type of exposure can actually live on for many years.
You’ll have the opportunity to make meaningful connections with fans and communicate directly with your target market at races or through fan events. That’s much better than hoping they don’t walk out on a 30-second commercial that you’ve spent a fortune on.
And since many fans recommend their driver’s sponsor to friends, you’ll have a whole new group of people marketing for you.
Create brand loyalty among fans
Fans care about their favorite drivers and they support sponsors as another way of supporting their driver.
Research from Turnkey Sports and Repucom shows that NASCAR is #1 in fan loyalty to sponsors, beating all other major US sports.
- #1 in fans who consider trying, consciously support, and recommend sponsors
- #1 in advocacy for sponsor brands via social media.
So there you have just 4 of the types of benefits you can expect to see from your sponsorship.
Remember, sponsorship isn’t an act of charity. It’s a business decision that should bring you a positive return on investment.
You can get the largest ROI when you carefully choose who you sponsor by aligning their reputation and interests with your company’s culture, products, and goals.
Contact us if you’d like to learn more about how you can benefit from working with him.