With the recent announcement of basketball legend Michael Jordan purchasing a Nascar Cup Series Charter with partner Denny Hamlin, SponsorPulse wanted to take a deeper look into the performance of the motorsport property among different ethnicities in the US to showcase the significant potential at hand.
Commenting on his new team, with a car to be driven by Bubba Wallace in 2021, Jordan said: “Historically, Nascar has struggled with diversity and there have been few black owners. The timing seemed perfect as Nascar is evolving and embracing social change more and more.”
Utilising our proprietary data, we can analyse the reach and impact Nascar currently has among various communities in the USA, and which areas could benefit most.
Nascar has greatest reach among African American community
One of the benefits of using the SponsorPulse platform is that users can filter and sort the data by various demographics. When analysing Nascar in the US, we found that the motorsport property has the greatest reach among the African American community compared to any other ethnicity. This demonstrates the potential that the stock car racing series has, as more than one-in-three Hispanics and two-in-five African Americans have engaged with the motorsport over the past year. Overall, 37 per cent of Americans have engaged with Nascar in the last 12 months.
| Property | Nascar USA engagement | Gap to Formula One |
|---|---|---|
| African American | 43% | – |
| All ethnicities | 37% | -6% |
| White | 36% | -7% |
| Hispanic | 36% | -7% |
*Average engagement amongst 13 to 64-year-olds
Providing value in new markets
The priority of sports marketing managers is to understand the targeted consumer base and then identify best practices to connect with said population. It is important to recognise that different groups of people share different identities and associate with groups that are positive reflections of their self-concepts.
The most successful brands and properties find ways to tap into consumer identities and connect with their fans on a personal level, providing value to the consumers and generating excitement and passion along the way. When looking to expand to new markets, one of the best ways to assimilate a property with a new group is to partner with an organisation that already shares similar values to the desired community.
For example, the Boston Red Sox partnering with John Hancock Life Insurance Company, a Boston-based insurance firm that has strong New England roots, or the Canadian Olympic Committee partnering with Canadian Tire, a Canada-based retail company that promotes Canadian values.
Our data shows that among the African American and Hispanic communities in the US, Nascar scores relatively low in all emotion-based metrics. This demonstrates that while there may be a decent reach amongst these groups, the series does not necessarily have a strong connection with their consumer identities – an area Michael Jordan and co are looking to help fix. Partnering with brands and sponsors who already have established relationships with these consumer bases may be an effective way for Nascar to increase these numbers.
| Ethnicity | Nascar US momentum | Gap to white |
|---|---|---|
| White | 21% | – |
| Hispanic | 18% | -3% |
| African American | 12% | -9% |
*Average engagement amongst 13 to 64-year-olds
Momentum: The percentage of people engaged whose interest with Nascar will increase over the next 12 months.
| Ethnicity | Nascar US passion | Gap to white |
|---|---|---|
| White | 21% | – |
| Hispanic | 18% | -3% |
| African American | 7% | -9% |
*Average engagement amongst 13 to 64-year-olds
Passion: The percentage of people engaged who are passionate about Nascar.
| Ethnicity | Nascar US excitement | Gap to white |
|---|---|---|
| White | 33% | – |
| Hispanic | 26% | -7 |
| African American | 23% | -10% |
*Average engagement amongst 13 to 64-year-olds
Excitement: The percentage of people engaged who are excited about Nascar and what if offers.
Value in your brand = value for your partners
One of the greatest challenges for many properties is finding partnerships and sponsorships that are a good fit for both parties involved. Brands are very specific about the organisations they partner with, as a negative perception of a property can easily rub off on associated partners.
The SponsorPulse platform contains impact metrics that measure the attitude consumers have towards brands that sponsor properties. This data provides insight into the psychological connection people build with their favourite teams and leagues, and allows decision-makers to measure the trust that consumers have in their properties. Properties who score relatively high in these metrics often use this data to demonstrate the power they have in the consumer-buying process.
As of now, ethnic communities in the US do not necessarily have a strong trust or affinity for brands who sponsor Nascar. With the recent decision to remove the confederate flag from all events, the increased efforts to become more socially-inclusive, and the creation of Michael Jordan’s new race team, hopefully the series can begin to see an increase in the value ethnic racing fans place on the Nascar brand and its partnerships.
| Ethnicity | Nascar US consideration | Gap to white |
|---|---|---|
| White | 13% | – |
| Hispanic | 10% | -3% |
| African American | 6% | -6% |
*Average engagement amongst 13 to 64-year-olds
Consideration: The percentage of people engaged who would consider purchasing from a brand that sponsors Nascar.
| Ethnicity | Nascar US favourability | Gap to white |
|---|---|---|
| White | 13% | – |
| Hispanic | 8% | -5% |
| African American | 6% | -7% |
*Average engagement amongst 13 to 64-year-olds
Consideration: The percentage of people engaged who are more favourable of a brand that sponsors Nascar.
It is necessary for businesses to regularly self-reflect and evaluate the images that they portray to the public. Sport properties especially have a deep-rooted place in peoples’ lives and often become a big part of a person’s identity.
People who become highly identified fans of teams and leagues begin to share and trust the values of theses organisations, therefore it is important for these properties to promote positive, responsible messages. Nascar has taken the necessary steps to become more inclusive and socially responsible, and has positioned itself at the forefront of social justice over recent months. At a time when the world is changing ever so quickly, it is encouraging to see Nascar and motorsport trending in the right direction.