Driver endorsement deals in Formula One are still an underdeveloped currency

Driver endorsement deals in Formula One are still an underdeveloped currency

Posted 21 March, 2019 at 16:58

Author Mark Bradshaw on behalf of (IFM) Independent Forecourt Magazine


Driver endorsement deals in Formula One are still an underdeveloped currency, says Sportcal, a GlobalData company

Given the traditional focus on teams in Formula One, the opportunity presented by drivers in the digital age is one that many brands are yet to take advantage of, according to Sportcal, a GlobalData company.

Conrad Wiacek, Head of Sponsorship at Sportcal, comments, “With a new generation of drivers coming through, both they and the sport of Formula One are in pole position to take advantage of the digital age and engage with fans like never before.

“As seen from the growth of influencers across social media platforms, brands understand the value of partnering with the right kind of personality to promote their message and to ultimately drive revenue. In Formula One, this kind of thinking has seemingly yet to reach the grid. Only Daniel Riccardo and World Champion Lewis Hamilton have managed to utilise their social media platforms for commercial benefit but the possibilities are there. In a sport where the cars have long been the star, it is the personalities of the drivers that engage the fans.”

With the new generation coming through, led by the likes of Max Verstappen and Charles Leclerc, there is a huge opportunity for drivers to make themselves as valuable to brands through meaningful, creative engagement as the cars are to the brands logo.

Wiacek adds: “Any driver with a spark of personality has the ability to transcend the sport and attract new fans, as Lewis Hamilton has proved, so with Liberty Media focused on new markets, new territories and new fans, the drivers will be the vanguard for the new era in Formula One.”

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