Motorsports Marketing Mail Tips
BRANDING – WHAT IS IT?
Posted on: Tuesday August 29, 2023
Joe Verdegan, shown here announcing at Eagle River Speedway in 2023, has been calling races throughout the Midwest for 41 seasons. (flintography.com)
BRANDING – WHAT IS IT? By Joe Verdegan
The term “branding” often gets tossed around when the subject of sponsorship and marketing pops up in conversations within the motorsports world.
But what exactly does it mean? And how can you apply it to your efforts to secure marketing partners to keep your racing operation afloat?
According to Mitch Covington in Alex Striler’s “Motorsports Marketing and Sponsorships” book, Branding sets a product’s value. It also determines prices and defines the “prestige” of an item.
Of ten identical items, for example, branding is what makes someone pay more for one item than another – even if they’re the same.
Where advertising is a short-term tactic and marketing remains a long-term strategy, branding is an investment. It accrues over time.
So why does this matter?
Companies market to boost sales, but it’s critical to understand that increasing sales doesn’t always mean the same thing to all companies. So how does this relate to your sponsorship search?
When you approach a business owner for sponsorship, consider the company’s revenue strategy and try to understand what their goals are. Is their priority to increase customers, unit sales, repeat sales, market share or prices?
The more you understand the goals of the business owner(s) you are approaching, it will only boost your odds to landing something substantial.
It’s never too late to think about getting your sponsorship deck ready for this Fall’s sponsorship search. Email us @ jverdegan2@gmail.com to learn more.