In Europe, Formula 1 racing is an incredibly popular sport. However, the auto racing league has not seen much success in the United States, as it is dwarfed both by other sports and a different incredibly popular racing league, NASCAR. It has thus been a struggle for the league to continue to grow. With this in mind, the league is beginning a new marketing effort with the goal of growing the sport for American audiences.
As of now, marketing is a huge weak spot for Formula 1. “There's no marketing, no research, no data, no digital platforms,” said an executive with the company, speaking on the condition of anonymity. “This sport has unique global content and hasn't done enough to take advantage of that. We need to build the rivalries and enable people to understand the technology that goes into the sport.”
The auto racing league is thus trying to make their marketing approach stronger and more uniform. While some Formula 1 races are heavily marketed today, others are seemingly ignored, resulting in the league often slipping out of the public consciousness save for a few of the marquee races. The league will begin to focus on promoting racing season as a whole, rather than just some of the individual races.
Another major focus of the new marketing team will be social media and other Internet platforms. Currently, the league has almost no online presence, and does not often interact with fans on social media. These are not recipes for success in today’s day and age. The league will thus focus heavily on building up their social media presence and creating campaigns that remain coherent and consistent across all media.
Formula 1 is just the latest organization to realize the importance of having a strong and unified marketing presence. The league is attempting to create a coherent, 21st century marketing approach, and they are essentially starting from scratch.