The Future of Auto Racing Strikes Massive Deal - Trak | Partnership Activation Software

The Future of Auto Racing Strikes Massive Deal
Posted On: Jan 31, 2018

Two companies working for a better future make a partnership that makes perfect sense.

For years, NASCAR and Formula One have dominated car racing, but there is a new player in town. Formula E is a racing league that uses electric cars exclusively. Even though it is only 4 years old, the company has been making waves.

No wave is bigger than their recent deal with ABB for a title sponsorship. ABB, a technology company focusing on electric cars, is paying over $100 million for this signage. However, this deal is much more than signage and is expected to encourage the growth of electric cars and the racing league itself.

Trak’s Take

1.  The two companies are congruent with their goals which will make this partnership easy to work with and reach audiences more effectively.

2.  Because of the signage, research, and outreach, this partnership will provide easily visible KPIs.

3.  The 7-year contract will allow the opportunity for new ideas, but also stability as electric cars change rapidly.

4. Rather than sticking to traditional sports and teams, ABB is being innovative and setting an example for other companies pursuing their own sponsorships.

5. Think about any product you're introducing at your property or brand that might be an emerging market or technology (electric cars in this example) and think about a hungry company or property that might want to build the market and their brand at the same time.   (digital ticketing and online pizza orders orders are another example)


ABB's CEO:

Ulrich Spiesshofer: "Today, two pioneers are uniting. ABB and Formula E are a natural fit at the forefront of the latest electrification and digital technologies. Together, we will write the next phase of this exciting sports activity and foster high-performance teams." -FIA Formula E

ABB’s Website: http://new.abb.com/news/detail/3182/abb-and-formula-e-partner-to-write-the-future-of-e-mobility

Formula E’s Website: http://www.fiaformulae.com/en

SOURCE: http://edition.cnn.com/2018/01/09/motorsport/formula-e-title-sponsorship-abb-write-the-future/index.html