NASCAR, also known as the National Association for Stock Car Auto Racing, is loved by many people from all over the world. Their races are broadcast in over 150 different countries and are ranked second when talking about television ratings among professional sports in the U.S., being right behind the National Football League. NASCAR is a very successful business not only because it provide high quality entertainment, but also because of the way it markets to its fans. Let’s take a look at some of the ways they market and what tips we can take away from them.
Appeal to the Fans
It’s no secret that NASCAR has an endless supply of fans that love to watch, attend, and even study the races. NASCAR continues to appeal to them with advertisements, reviews, content, promotions, and many other tactics. Once they got their fans, it was easy for them to keep them and continue to attract new ones at the same time. With over 75 million fans, NASCAR sells over 3 billion dollars to them annually in products and tickets.
A great way to try and place this strategy into any business, is first, attract loyal customers who enjoy what you have to offer. Once you have a large enough customer base, you can start sending out special promotions that are exclusive to them or send them related content to keep them interested. There are so many ways to appeal to consumers, but every industry will have different methods that are effective.
Web and Digital Content
Over the last decade, NASCAR has really bumped up its digital and web content to further market their company. Since almost everyone has access to a computer and internet, it is the most effective way to introduce information about the company directly to their consumers. By posting videos of previous races or interviews with some of the drivers on video sharing sites, people are able to experience what it would be like to be at the actual event and be more interested in watching the upcoming races. The same goes with any written or photo style content. By flooding certain parts of the internet with the best content they can provide, they will attract new fans, keep their current fans interested, and will continue to grow as a business.
Any business can use this strategy to expand their company. The best thing about content marketing is that it doesn’t have to cost much. Although having a budget would definitely help, it isn’t necessary for the marketing campaign to be successful. By blogging or posting quality content to other sites, more people will be exposed to what you have to say and will be willing to find out more about you and your company.
Almost every business has tried some type of sales promotion. While there are so many different types of promotions, some work better than others. Since NASCAR is widely known and has a fan base that never lets them down, the promotions that are seen usually have to do with third party promotions. For instance, NASCAR gives your local radio station a deal on a limited number of tickets, then the radio station gives them out for free, helping out both NASCAR and the radio station. There are plenty of other promotions on other products that NASCAR offers such as hats, T-shirts, Bumper stickers, and etc. The great thing about having promotions that include products with the NASCAR name on it, is that even if they don’t make a large profit, they still get free marketing out of it when people wear the clothing. It’s a win-win.
Every industry is going to have certain promotions that work better than other, so finding the right one for your company will be the key to a successful promotion.
Although most of us won’t be able to provide a service that other companies can sponsor, it’s well worth mentioning as one of their strategies. If you have ever watched a race, then it is very hard to miss the large amount of promotional logos, merchandise, and advertisements that are all over the place. Corporate sponsors pay a very large sum of money, upwards of around 15 to 20 million dollars a year, to sponsor a car racing team.
By sponsoring the team, they have access to show off their logos to the millions of people that watch these races. Not all of that money goes to NASCAR directly, a lot of money goes into car repairs, team salary, driver salary, and many other aspects. NASCAR does end up getting a large chunk of the profits. At the end of the day, NASCAR isn’t just getting paid by its fans, but also by corporate sponsors that can also profit from NASCAR races.
Promote the Experience
NASCAR does a really good job of portraying the experience of being a fan that is attending the actual race. Although most fans usually watch it on TV, NASCAR encourages them to attend the actual races. Not only does this help them sell out races to make more profits, but it also shows its fans that it can be much more than just watching it in front of a television, if they just get involved. Once the customer gets involved, there is a much higher chance they will end up buying other products and will be more willing to attend the races.
If you try and promote more than just your product or service, but the experience that comes along with it, then you will appeal to your customers at a much higher level. If you’re looking back and notice that you can’t really offer anything as far as an experience, then you can use this reality check to enhance your customers experience to make your products or services much more desirable.
NASCAR will continue to have millions of fans and many sponsors, all because of the way they have marketed their business. Most other motor sports don’t come close to NASCAR, and there is a reason for that.