Foresight Research Asks: Is Motorsports Sponsorship Money Well Spent? - aftermarketNews

Foresight Research Asks: Is Motorsports Sponsorship Money Well Spent?

Why participate in racing sponsorships today? Because it pays, says study.

ROCHESTER, Mich. — Automakers, dealers and parts manufacturers are being forced to question the value of every dollar spent today. With that in mind why would any manufacturer sponsor motorsports – especially in these challenging times? The answer is clear: because it sells cars and trucks.

In the recent new vehicle buyer survey by market research firm Foresight Research, motorsports influence is compared to 15 different forms of marketing communications used by buyers. Interestingly, among the total sample of new car and truck buyers 43 percent indicated that they had watched at least one motorsports event in the last 12 months. 14 percent had attended at least one race and 23 percent indicated that motorsports had at least some influence on their new vehicle purchase decision.

But what may be the most compelling reason to be involved in motorsports is the power that some fans can have in the purchase decision of other buyers. “Shouters” are people who influence the automotive purchase of others and are often influenced by motorsports. This group of buyers reported giving an average of 10 new vehicle recommendations per year to other people. It’s this strong power of influence that makes motorsports sponsorship delivers a better ROI than many other forms of marketing.

Among those who were influenced by motorsports, 67 percent said that power and performance was a key message. But a whopping 60 percent reported price and value as key takeaways and 56 percent learned about a specific vehicle make and model. How does this happen? Fifty-nine percent of race attendees visited the manufacturer’s display.

“With proper activation, motorsport sponsorships offer a great opportunity for communicating to shoppers in an emotional and rational way, and don’t lose sight of the word of mouth recommendations by these ‘Shouters,’” said Steve Bruyn, CEO of Foresight.

You May Also Like

AAM’s Next-Gen Electric Drive Systems on Display at CES

Among the products showcased at CES will be AAM’s electric drive units, e-Beam technology and component technology.

AAM's Next Gen Electric Drive Systems on Display at CES 2024

American Axle & Manufacturing announced it will have its technology on display at the 2024 Consumer Electronics Show, Jan. 9-12, 2024, in Las Vegas.

"CES is the premier event to showcase the full breadth and depth of our innovative solutions and tell our story to a broad range of partners," said David C. Dauch, AAM chairman and chief executive officer. "AAM continues to support a rapidly changing global auto industry by expanding our electrification platforms for any type of vehicle. This includes performance sedans, SUVs, light- and heavy-duty trucks and skateboards, empowering OEMs to create cleaner and more efficient vehicles."

Shop-Ware Partners with Amazing 7 on Phone Integration

The integration allows repair shop staff members to gain valuable context to incoming phone calls and respond to customers accordingly.

Shop-Ware-Amazing-7-phone-integration
Continental, Synopsys Team Up on Automotive Software Development

The collaboration aims to accelerate the development and validation of software features and applications for the Software-Defined Vehicle.

Epicor Unveils Digital Cataloging, Future Plans

The new catalogs use Epicor-validated, ACES-compliant data and an “Intelligent Search” feature to find the right part quickly.

Epicor digital catalog
Epicor Launches Automotive B2B eCommerce Platform

The Epicor Commerce for Automotive platform features multi-seller support and parts lookups for distributors and their customers.

Epicor commerce for Automotive

Other Posts

Marelli Launches Fuel System for Hydrogen Propulsion Systems

Marelli will present a variety of new technology at the CTI Symposium in Germany, Dec. 5-6.

The Automotive Aftermarket’s Role in a Circular Economy 

Take a deep dive into the factors driving the automotive aftermarket toward a more circular economy.

Circular economy
AI in the Aftermarket: Endless Applications Yet Hurdles Remain

The automotive aftermarket is delving into AI and ways it can help businesses be more productive and effective.

Intellias to Showcase HMI, ADAS and More at CES 2024

The company also will unveil the next generation of its IntelliKit, a portable fully-integrated digital cockpit.