Utilizing the attention of Formula 1 fans
Formula 1 fans are a resilient bunch. You ever leave your friends at the bar early to watch a race from China? That’s a real F1 fan. This type of passion and borderline addiction may be concerning to some, but firms looking at entering the sport as a sponsor have a much different view.
What they see is an exceptionally dedicated group of potential customers. Besides football (soccer) fans, Formula 1 fanatics are the most opinionated and emotional fan base out there, and what helps you sell products? Emotion. Selling products by adding emotional value can create lifetime customers.
A unique selling point for potential Formula 1 sponsors is that every team and driver compete in each event. This means that most fans tune in for every race. Utilizing this consistency can make a relatively untrackable ROI much more appealing. Having such a diverse and global audience can make it difficult to target the customer you want, but because you can guarantee a large audience for each race, precise targeting is less relevant.
Let’s look at Heineken as an example. They sponsor every race with massive billboards and advertisements. Do you think they care if they target the exact customers they want? No, they only care about having as many eyes on their logo as possible — building brand awareness.
Social media also amplifies their brand. Chances are their logo will show up in the thousands of Instagram pictures and highlight videos that follow each race. This allows them to have a ‘long-lasting’ impression in a world with an increasingly short attention span. Coming back to the emotion argument, Heineken is winning on that front too.
Imagine a father and son going to a Formula 1 race for the first time (the son being the legal age of course). Sharing a beer during this moment can in some ways be even more important than the race itself. It’s these type of moments that Heineken and similar companies are banking on. What happens next time the son sees a Heineken in the LCBO? An instant connection to that first race with his dad.
To sum things up, you utilize the attention of Formula 1 fans through emotion as well as overall brand-building. Going from the micro-moment of sharing a beer all the way to the massive macro billboards creates a diverse range of marketing tactics that can have a huge impact. Creating emotional value for customers serves ROI after all.
