The motorsports industry has just as many, if not more, media members as it does racers. These media members, whether they be photographers, videographers, or photojournalists, typically offer similar services and products and must compete to win the business of their target audience. (For the sake of this post we will focus on the media side of the industry, but the basic concepts can certainly be applied to manufacturers competing for consumer business or race teams competing for sponsorship dollars as well). Strong brand positioning sets a brand apart from its competitors and connects the brand with its target audience to better meet business objectives.
Understand What Sets Your Brand Apart
To focus on brand positioning, we will agree that all brands within motorsports media are competing to win business from similar target audiences, mainly racers or manufacturers. The key to brand positioning is understanding what you offer that your competitors do not. Do you specialize in vlogs? Do you also develop marketing materials for clients? Do you offer personalized photo shoots? While the motorsports media umbrella covers a lot of members, not all of us offer the same services. By defining and communicating the unique benefits that your brand offers, you will be able to make connections with your target audience and foster stronger brand loyalty. The overall goal is to be “favorable, different, and credible in consumers’ minds” (Patel, https://www.datatech.guru/archives/1449).
Craft a Strong Positioning Statement
So you know what unique benefits your brand offers, but is that it? No. Developing a strong brand positioning statement is the road map for business objectives. It ensures that the entire team (even if that is only you) is focused on what the brand embodies and offers. It also ensures that marketing efforts are aligned with the brand. Anything from website design to marketing campaigns, to what you physically capture at the racetrack should all be in alignment with the brand positioning statement. For example, if your brand offers epically Photoshopped images of explosions and dinosaurs behind the racecar while it does a burnout (this should be a thing if it’s not already) you will be certain to capture those specific shots at the racetrack and target your marketing efforts to individuals or teams that you believe would most likely be interested (aka your target audience). There are several templates and formulas to follow for crafting your positioning statement and they can easily be found through a quick Google search.
Brand positioning is the key to fostering strong brand equity among consumers. In the motorsports industry media members must compete for business in a very narrow target audience. Consumers are looking for brands that offer the unique benefits that meet their needs and strong brand positioning allows brands to reach these consumers.