Let's delve back into Motorsport Sponsorship.
Due to the racing budgets of many championships being far more than the commercial value they provide for sponsors, we now have to approach sponsorship in many different ways. 'Piggy Backing' is a term I gave to the strategy that allows you to have an alternative sponsorship strategy.
This is when you either:
1) Have the money to race this year already, but can still use your current car as a way of selling cheap advertising space or offer price cut sponsorship packages for companies. You do this in the hope of giving companies a toe in the water to see what sponsoring you is like, and then hopefully they will sign up with you the following year when you step up to a higher profile series. It also helps you raise hard cash towards next year.
Or
2) Sell the attractive sponsorship packages of other drivers, teams, series' or the offerings from other sports. If you do not have much to sell and cannot provide much value for a company through your racing, then sell packages that do provide value and get the commission for brokering those deals.
You can earn more money to race that way in the short term, then as your profile grows you can start to sell sponsorship for yourself. These are all tactics that can run alongside your normal sponsorship strategies to add more income streams for your racing.
I hope this helps.
Enzo
NB: If you have any driver coaching questions then feel free to send them to us
