A Racing Sponsorship – It’s More Important Than You Think!
Whether it’s on a TV broadcast or right at the track, NASCAR is nothing without its racing sponsorships! Think patches on the driver’s fire suits, stickers, and cars overflowing with logos. Every race is brought to you by a brand or a company! Sponsors shell out a large amount of cash for a racing sponsorship. Have you ever wondered how much? How about what that money is funding? That’s what Wolfpack Racing is here to tell you!
It may not be the first thing you think of – one of the largest expenses for NASCAR teams is fuel! Yep, you guessed it, a racing sponsorship can provide for that. When every team needs the ability to transport one car (and sometimes more than one), and one full pit crew to a racetrack, you can never have enough fuel. Not to mention the management, the team’s racing gear and tools, and the driver as well. Requiring sizable transportation trucks, fuel eats into racing funds like no other. Although Sunoco, who sponsors NASCAR, provides free fuel for the car on race day, it takes more than that! Those cars run more often than just that one exciting day a week. Testing the team’s equipment for safety, speed, and reliability multiple times on a regular week, means that they can pay up to around $6.25 per gallon for fuel. When it’s all done, a full-day testing session can eat through a 55 gallon drum and cost practically $350. No wonder fuel is one of the largest expenses in NASCAR!
Brands and Logos
Fans view many brands and logos on a NASCAR racer, but did you know that the location of that logo can vary greatly in price? This type of racing sponsorship may be the most sought after but can also become the highest in cost! While any location of a logo is a great choice for advertising, the logo that appears on the hood is the highest in price. This logo belongs to the primary sponsor, who also gains a say in the team colors and the paint scheme of the car. When it comes to other logos, the rest are negotiable! Responsible for the length of stickers, the spread near the windows and across the fenders, associate sponsors oversee these. Placement and size influence the cost greatly, as the quarter panels tend to be another very expensive area to add your logo.
Although it may not be noticeable, NASCAR has begun to tighten the restrictions on how large logos can be and where they can be placed. In response to these new rulings, placements of products are gaining new ground at the race-track. In the pits after a race, drivers are paid to take a gulp of beverage on camera, and even crew chiefs are paid good money to mention the names of sponsors in their interviews. Who knew how many ways there are to utilize a racing sponsorship?
You might be asking yourself, what do the sponsors get in return? A racing sponsorship requires a large amount of money, so sponsors want to see results. The most visible result of a racing sponsorship is the fanbase that comes with NASCAR – over 50 million fans! Think of that advertising potential and impressions! When you calculate the return on the investment in a racing sponsorship, there are several equations. Some brands and companies count how many seconds that their logo is evidently visible on the screen, multiply that time by the current ad rate, and there is their number! This is how companies get an idea of how much of an impression the funding they give is getting them. When it comes to a partnership with well-known figures such as Kyle Busch and M & M’s, that tends to work out well! Particularly among NASCAR fans, who tend to be loyal to brands that sponsor their favored drivers.
Although these are only a few of the ways that a racing sponsorship utilizes money, there are several more out there! With a diverse fanbase, companies generally also tend to utilize billboards, the internet, print, and many other ways to get their brand in front of consumers. With so many options for a racing sponsorship, the possibilities to get a great return on your investment are endless!