Quote:
Originally Posted by mrfizz
All of that makes sense Moneyseeker, until i think about Nascar and Aussie V8's for instance. Those two series have corporations/large companies coming out of their ears.
Sprint sponsor the whole show in Nascar, the likes of Pepsi, Coca-Cola sponsor individual races and cars, along with the likes of FedEx, UPS, GoDaddy, Target, Texaco, Monster, McDonalds, Burger King, Subway, KFC etc etc. Global reach is easier, agreed, but surely by definition then reaching a domestic market must be even easier? I don't think we could even blame F1's apparent lack of green credentials. Nascar's gas-guzzling reputation is even worse.
Surely F1 must be doing something badly wrong?
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I agree on Nascar and V8's - they have always had a good sponsor and fan base and one goes with the other.
Domestically of course it is easier to activate a sponsorship in one country and in a single market place - you may also be drawing from a single budget.
If you are pitching to a global brand for a worldwide event, they may well allocate their budget by region - so UK would have a budget, Europe or maybe EMEA, etc so you need 'buy in' from each area if they are expected to contribute from their budget.
Not all brands will have a sponsorship budget per se either, so you are competing against other marketing spend which is a much easier sell in to your board.
As whether F1 is doing something badly wrong, if you stripped all the logos of connected deals, B2B, contra deals and associated companies sponsoring teams it would look even worse....
Clearly either the teams are doing a bad job of selling themselves, or for a combination of some or all of the reasons I proposed, F1 is simply not attractive enough as a global marketing platform at the moment.
As for the financial/banking sector - a few months ago I was with quite a senior person at a City trading firm who told me that the reputation of the industry is still so bad that he doesn't even tell people what he does for a living at social events, so the chances of this industry plastering their logos all over F1 cars is still quite slim IMO!