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Why Do Sponsors Put their Logos on Formula and Rally Cars?
Sponsorship is a form of advertising, and of course, those who do it are always looking for economic benefits. A recent exhibition in Monaco made us remember the logos that crossed the finish line together with the champion cars. However, there are several main criteria, each of which should be analyzed separately.
To begin with, there is a question of choosing a goal. Sponsors can support the entire series as a whole, as was the case until recently with the IndyCar mobile company Verizon or the Blancpain series, which is funded by the watch manufacturer. A classic case is working with a team, including as a title sponsor. There are so many examples of this.
It often happens that sponsors run from team to team. For example, the watch brand TAG Heuer, which now works with Red Bull, was once a partner of Ferrari, then McLaren, then the whole Formula 1. So there’s no guarantee of permanence at all.
What are the goals of the F1 sponsors? First of all, it’s brand recognition. You can think of the Santander Bank, which was sponsored by McLaren and Ferrari for over ten years. They honestly admitted that they were able to significantly improve the recognition thanks to Formula 1 – and then left.
Secondly, companies find business partners or develop relationships with them through sponsorship. For example, the Andretti Autosport team is known for it. It has created a kind of business platform where different sponsors meet and communicate, become business partners, and sign new contracts. This is beneficial for both the team and the sponsors themselves.
The same philosophy underpins the work of the Russian Kaspersky Lab group, which sponsors Ferrari and gets profitable contracts.
And finally, there are those sponsors – who start supporting someone simply because they like it, they’re sports fans and they want to get involved simply because they’re i