Hey Reader
Itโs only right I spoke about Mclaren in this weekโs newsletter.
It took me back to my post 5 months ago on how Mclaren went from 5 to 47 sponsors. They have since signed 5 more. At this point, it feels weird to say 52 sponsors.
I spoke about
- ๐๐ซ๐๐๐ญ๐ข๐ง๐ ๐๐ฎ๐ญ๐ก๐๐ง๐ญ๐ข๐ ๐๐๐ซ๐ญ๐ง๐๐ซ๐ฌ๐ก๐ข๐ฉ๐ฌ
- ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐ฏ๐ ๐๐ง๐ญ๐๐ ๐ซ๐๐ญ๐ข๐จ๐ง
- ๐๐ฑ๐ฉ๐๐ซ๐ข๐๐ง๐ญ๐ข๐๐ฅ ๐๐ฅ๐๐ฏ๐๐ญ๐ข๐จ๐ง
- ๐๐๐ ๐๐๐ฒ ๐๐ฎ๐ข๐ฅ๐๐ข๐ง๐
These are high-level terms for a good PR release. But this is not actionable.
The biggest challenge for teams and drivers is STILL getting and keeping sponsors.
So today, we will look at the following:
- The challenge of getting & keeping sponsors
- The solution
- Why Mclarenโs strategy works
The Challenge of getting sponsors
So many teams & drivers chase after sponsors, wondering why their emails go unanswered. I can track down to 3 problems.
โ They have no identity beyond racing
โ A lack of marketing fundamentals
โ Their activations lack depth and value.
If we strip it back to basics, sponsorship is, at its core, marketing. How can you market yourself? How can you provide tangible value to the brands you work with? How can you build relationships with people?
I see racing teams and drivers as creators or Youtubers with their own media properties.
Look at the biggest YouTubers. They attract big brands because they work in the โattention economyโ and know how to stand out from the crowd.
Racing consumes their life, which it should. But sponsors want more. They want to understand what is behind the helmet & car.
I suggest to my clients the approach of. Think Like A Creator. Operate Like Traditional Media
The Solution
This is McLarenโs approach, but it is understated unless you look for it.
I see racing teams and drivers as creators or Youtubers with their own media properties.
Look at the biggest YouTubers. They attract big brands because they work in the โattention economyโ and know how to stand out from the crowd.
They have applied the Rule of One. They are specific and are associated with one word.
The problem is that racing drivers and teams have one goal: โTo Win.โ So, everyone is in the sea of sameness. You donโt attract sponsors by being the EXACT same. You need to differentiate.
Creators or Youtubers apply the rule of one.
They target:
- 1 specific person
- 1 specific problem
- 1 specific way
So, think of your racing platform as a marketing platform instead.
Why Mclarenโs strategy works
Simple. The team has Zak Brown, and the team is sexy. Now HOLD UPโฆ
Before you switch off, thinking, โNiru, this is not helpful,โ I agree.
But strip down what I said. Zak Brown, as a team principal, has a unique identity. We know him as a big soft bear with a massive car collection. And he is the American face of the company.
McLaren has a history with a combination of 2 young drivers catering to a young demographic mostly on social media. Their drivers speak the same language as their fans, and they are on the same level.
They play to those strengths exceptionally well. If we think about the problems I raised before. Most teams and drivers have no identity beyond racing. No personality. Itโs racing and nothing else.
The other 2 problems require a more advanced approach on a case-by-case basis.
- A lack of marketing fundamentals
- Their activations lack depth and value.
To learn more about that. You can sign up for my free sponsorship challenge here.โ
In 5 days, I challenge you to master sponsorship and use the growth hacker way.
P.S. Cole said it best. The BEST whoop AD I have ever seen by Lando.
Cheers,
Niru
โ