Formula 1 Teams: Why Slow On Social Media?
The Formula 1 industry is all about technology, innovation, speed, data and intel. So why are the Formula 1 teams around the globe still so slow in embracing the power of social media marketing?
Graph from NMA showing the low number of engaged Formula 1 fans
But we have good news for Formula 1 fans around the globe. The Formula 1 teams are finally turning to digital and social media, in an attempt to revitalize their sport’s reputation towards the 2010 season.
Very soon we will cover more about the Formula 1 racing teams, including the approach of Mercedes, Virgin and Red Bull. They are finally moving away from traditional marketing and gearing-up towards a model which is more content-driven, engaged and focuses on consumer dialogue.
The afore mentioned racing teams are putting social media marketing at the center of their marketing plans for the first time, as they finally seem to understand that engaging with Formula 1 fans can be done much more effectively.
And that a smart social media and fan strategy can extremely strengthen the image of the sport, which is worth close to $6 Billion to the British economy alone.
For next articles about sponsorship activation and social media strategies, I will also try to talk to our sister agencies: digital marketing agency LaComunidad, Sports & Entertainment agency Trefpunt and digital agency H-art.
Purpose of these talks and interviews: to see if we are able to share more data, insights and case studies on sports and digital with you. They have been doing activations for i.e. the Heineken UEFA Champions League, Volvo Ocean Race team and a campaign that included the famous Valentino Rossi.
Last but not least, Sir Martin Sorrell, WPP chief executive and an influential board member of CVC Capital Partners, the private equity fund which owns the commercial rights to Formula 1, criticised 78-year-old billionaire Bernie Ecclestone for advising Flavio Briatore to appeal against his lifetime ban from the sport.
So we might be able to find several insights for several stories on Formula 1, Sports Sponsoring and activation with or without social media marketing.