In the earlier post, I talked about putting a few extra tools in your "marketing" tool box. Increasing the amount of tools in your tool box is something that needs to be done on a regular basis if you truly want to generate some great Marketing Partners to help you throughout your racing career. As I mentioned before, a true Marketing Partner will go much further throughout your career than your typical "sponsor". You want to start generating and cultivating those relationships and find a way to generate more business for your marketing partner. If you do that, they will continue to support your racing business.
I mentioned a few weeks ago about the 60/40 rule. The 60/40 rule is pretty simple. Say for example you acquire a new $10,000 Marketing Partnership. Using the 60/40 rule, you would take 40% ($4,000) and put that directly into advertising or marketing that business. That may include purchasing tickets to larger race events in which you will be attending, buying a program ad at your local track for the business, having a radio spot mentioning your marketing partner a day before the big event, purchasing a 4x8 banner of your partner for the front stretch at your local track, and more!
The other 60% ($6,000) is going to be used to help off-set the expense of running a race team. Having said that, remember to invest some of that money into yourself. Don't just blow it on gas and tires, use some of it as an investment on other marketing products for yourself. T-Shirts, Die-Casts, Hero/Promo Cards, Websites, etc.
If you do just a few of these things consistently, you'll have a larger fan base, larger business partner base, and a more successful racing career. One thing to keep in mind, you don't HAVE to win the race to make the money. Prove to others you can make THEM money. You do that, the wins will come.
Also on a quick note, that in the best of efforts, using a 50/50 platform is encouraged, but starting out with a 60/40 basis is a great way to understand the rule itself.
You have to generate a campaign that will not only produce traffic to your pits to sell t-shirts, and acquire more fans, but you can provide additional support your Marketing Partners. I will guarantee that if you starting running radio ads with a monthly budget of $100-$200, and incorporating your Marketing Partners throughout the ads, you will see great results. You will see results both from the fans, as well as your Marketing Partners. You need to generate that partnership. Show your sponsors, (soon to be Marketing Partners), that you are willing to do anything to generate more business for them. Remember - That is why your new Marketing Partner signed the $10,000 contract with you. To generate MORE business for their company.
- "Temporarily Retired" Driver and Race Track Promoter, Co-Founder of Driver Websites, MyRacePass, and Sprint Source
- administrator on Mar 23, 2015
- Article Date: 3/23/2015 by Josh Holt