Motorsport sponsorship is an effective form of brand marketing because it has a significant reach to its target audience. While some brands are related to the sport in question, they don’t have to be. In the case of MotoGP, companies can choose to sponsor an event, the rider, the team, or the motorcycle. Typically, companies must consult a sports marketing company to secure an opportunity to sponsor any part of the event.
Brands choose sponsorship because it presents an opportunity to raise brand awareness, improve social reach, helps improve PR, and more. However, there is also concern about the cost of sponsorship. Thus, this article explores the pros and cons of MotoGP sponsorships.
The Pros of MotoGP Sponsorship
There are several pros of MotoGP sponsorship. Also, what you sponsor can affect the marketing benefits your brand can get from the investment.
MotoGP is also held in different parts of the world. There are 19 races in one championship, and they are held in 14 countries on 5 different continents over 9 months. Therefore, your company will continue to increase its exposure for 3 quarters of a year and to various live audiences. With that said, here’s what you must know.
1. Visibility and Brand Awareness
Easily the most significant advantage of sponsoring MotoGP is the visibility for your brand, improving overall brand awareness. A MotoGP event is international, allowing you to reach an audience all over the world. In addition to the audience at the live events, television and internet coverage will also help increase the visibility to a large audience. MotoGP sponsorship is worth considering for brands that want to enter a new market or to maintain a public popular image.
2. Improve Your Reach through Social Media
People who watch the sport also have a great interest in the riders. Thus, many MotoGP riders also have large followings (in the millions) on social media platforms. The benefit of that is that they can help improve your brand’s reach through social media if you choose to sponsor the rider. Thus, you’ll have access to millions of potential people before and after the event.
That said, you may forgo some benefits of improving awareness at the live event by sponsoring a rider. This is because the printing of your brand’s name on the helmet and suit is relatively small, so many viewers may not notice it.
3. Opens Up B2B Opportunities
MotoGP undoubtedly opens up opportunities to interact with customers, but it also helps create openings for business-to-business interactions. Companies can reach mutually beneficial agreements regarding partnerships and sponsorships. Thus, sponsors have access to a vast, exclusive network of brands that can help your company reach new levels of success in due time. Connections are essential in establishing your company and creating new opportunities for innovation.
4. Allows the Chance for Brand Positioning
By sponsoring MotoGP, i.e., the rider, the team, or Dorna (the organizer of MotoGP events), you’re associating your brand with the positive attributes of the sport. These attributes include speed, performance, technology, and passion. Thus, you can help your target audience also view your company in the same way, i.e., a company that prioritizes performance and speed through technology and passion.
At the same time, it helps create opportunities for storytelling. Thus, you are using the name, reputation, and image of the sponsored property, i.e., MotoGP in this case, to tell your target audience what your company is about. It also showcases that your company values sports and the talented people that excel at them.
Cons of MotoGP Sponsorship
There’s only one con of MotoGP sponsorship: the high costs regarding it. Sponsoring a rider or a member of a team will be cheaper than sponsoring an entire team or Dorna itself. Also, in the case of MotoGP sponsorship, the amount that you invest greatly dictates what you get in return in terms of brand visibility and positioning. It’s best to do significant research on this form of sponsorship and consult a professional company that handles sponsorship opportunities. There are different types of sponsorships to consider as well, such as MotoGP partner, MotoGP Technical Sponsor, Official MotoGP Sponsor, First Level Official Sponsorship, Main Sponsor in MotoGP.
Consider Sponsoring Moto3 and Moto2
Some other sports sponsorship ideas you could consider are sponsoring Moto3 or Moto2. Both of these are different classes of motorcycle racing, but they are relatively less popular and prestigious than MotoGP. Therefore, the sponsorship costs for these classes of racing may be lower than that of MotoGP. Thus, companies that don’t have extensive budgets should consider Moto2 and Moto3 as well. Both of these classes have significant viewership—Moto3 in particular.