Formula E was launched in 2014 as the world’s first electric street racing series, attracting attention from traditional manufacturers like Audi, Renault and Jaguar, as well as curiosity from many former Formula 1 drivers. With the overall aging of motorsports audiences, Formula E provided a fresh opportunity to gain new audiences for the sport as a whole, and as with the launch of any new series, there was tremendous potential for innovation without any red tape, pre-existing agreements or politics.
Many brands still limit their sponsorship programs to promotional or tactical activations. They focus solely on the experiential side of things instead of having a program that uses many channels and dedicated messages to communicate the associations between the brands.
Don’t get us wrong. Experiential tactics serve a purpose and can be a lot of fun. But investing in an effective overall sponsorship program is another beast entirely.