Automaker Motorsports Sponsorships to Increase
Auto manufacturers know new vehicle buyers are swayed by a wide range of marketing activities. Earlier this month, the Auto Buyers Forecast released by ad-ology reported that 53% of new vehicle buyers are influenced to take further action as a result of TV ads. Now, another study points to the importance of motorsports sponsorship.
Foresight Research surveyed 7,851 new vehicle buyers and noted a correlation between the brand purchased and the manufacturer’s sponsorship of motorsports events. About 20% of new car buyers say they’ve watched at least 1 televised racing event. About 8% of these buyers have attended a living racing event. The messaging sent through motorsports sponsorship ranges from reputation, to image and style, to fuel efficiency. The brands which experienced the greatest influence on car buyers as a result of their investment in racing sponsorship include Audi, BMW, Chevrolet and Honda.
Steve Bruyn, CEO of Foresight Research notes, “the great recession had a profound impact on the motorsports industry; while race attendance and viewing are both down, the more serious fans continue to be involved and influenced by racing in their purchase decision.” The results of this survey also led analysts to believe that automotive makers have cut back on this activity in recent years. They may want to reconsider this decision, especially with respect to the “shouters.” This group of consumers recommends a specific new vehicle to at least 16 other people. As serious brand evangelists, these are important consumers to keep happy.
While motorsport sponsorship certainly isn’t the only channel for automakers to use, it is clearly linked to a significant percentage of new vehicle purchases and indirectly, to the influence of many potential buyers.[Source: Auto Manufacturer Sponsorship of Motorsports Continues to Influence New Vehicle Purchases. ForesightResearch.com. 2 Jul. 2012. Web. 17 Jul. 2012]