Making The Most of the Industry
The motorsports industry is a unique environment; a blend of regular retail business, events, and travel. Because of this, it naturally lends itself to the creation of brand communities. Brands are able to foster deep relationships with consumers and vice versa. Understanding how to utilize all aspects of the industry will position manufacturers to achieve their marketing goals.
Balancing face-to-face events with online platforms is key. Races are obviously the foundation on which the industry is built. Customers spend money and time to compete against each other on the track. Businesses have an opportunity to make an appearance at races and network with fans or provide support to customers. At some events manufacturers can set up booths to sell merchandise and interact with customers in person. On the other hand, these events also provide an opportunity to build brand communities online. Some businesses hire social media coordinators that travel to events and provide event coverage for the brand, focusing on customers who are at the race and providing updates to fans who cannot attend in person. Not only does this reach the fans and other customers who cannot attend the race in person, it shows the customers who are racing that they are supported. In some instances, businesses will allow customers to do a "social media takeover" and run the company's social media accounts for the weekend.
The motorsports industry provides the perfect environment for brand communities to thrive. Manufacturers have unique opportunities to interact with their customers online or face-to-face and form lasting relationships. Building a marketing strategy that balances in-person events with a strong online presence is key to achieving business goals.