Formula 1, the fastest motorsport race in the world, are surprisingly one of the slowest in joining the digital marketing race compared to others sports. During Bernie Ecclestone’s “one dimensional” approach to digital marketing, F1‘s television audience fell from 600m to 400m in eight years and team sponsorship revenue fell by $200m in 2012-2015.
Liberty Media, the major in town, have decided on a complete overhaul in marketing strategy with a strong focus on digital content to engage more with the fans. For a sport that is at the maturity stage and focus to grow in Asia, it is crucial for them to get it right.
And are they off with a flying start!
With the increase in digital content and social media freedom for teams and drivers by Liberty Media has seen a positive shift in the right direction.
This proves the thirst for more engagement and content by fans that they have been starved off previously.
Sensis, Australia’s leading marketing company, became the first official marketing services provider, further emphasizing F1 and their new adoption of digital content.
Throughout the event on their social media platforms with #SensisSocialLab and #SensisatAusGP, as well as local and international social media influencers such Micah Gianneli and Steph Claire Smith posting on their own social media accounts, showcased the Grand Prix as the “it” place to be.
It is time to pop open the champagne and celebrate the success of the first race and build on from here. They have proven that it is never too late even if they were late adopters to digital marketing.
However, there is still a fair way to go before they reach the front of the pack.
The real race has just begun.
Did you notice an increase in the presence of F1 on your social media over the weekend? Do you know of any other company who were late adopters to digital marketing, how are they doing now?
Til next time!