SponsorPulse Insight | Reaching Formula One fans through sponsorship

SponsorPulse explores the four purchasing categories with the greatest opportunity.

With its fast rise to popularity in the US, Formula One provides an attractive opportunity for brands looking to diversify their sponsorship portfolio and reach a fervent fan base. But how do you know if a partnership is right for your brand or category?

If you’re overwhelmed by the options out there, you aren’t alone. 32 per cent of sponsorship professionals agree that identifying the right property to sponsor is one of the biggest challenges for brands.

But, decision-making doesn’t have to be a thorn in your side when you have access to the right insights. 

Bringing transparency to the sponsorship industry is SponsorPulse's guiding light, and it does so by speaking to consumers across the globe each month to understand their passion points and purchase decisions.

Its Opportunity Score is a proprietary algorithm that combines behaviour, emotion, and impact metrics into one score.

Using the SponsorPulse Opportunity Score, these are the top four purchasing categories driving opportunity among Formula One fans in the US.

NFTs and digital collectibles

With an Opportunity Score of 42, NFTs and digital collectibles top our list. 68 per cent of engaged Formula One fans have purchased an NFT or digital collectible.

While 14 per cent of F1-engaged fans who have purchased an NFT would consider purchasing a brand due to its sponsorship of the motorsport. 

Teams like Mercedes and Red Bull are already all over the category, with NFT launches and partnerships commemorating the 2022 racing season. Given the opportunity in the category, we won’t be surprised to see more teams harnessing the power of digital collectibles moving forward. 

Electric vehicles

Among Formula One-engaged consumers, 61 per cent have purchased or leased an electric vehicle, proving that the category isn’t only of interest among Formula E fans. 

The Opportunity Score for this purchasing category sits at 40, making it a good option for automotive OEMs to consider. Especially, those looking to get more eyes on their EV line-up. 

Fantasy gaming platforms

62 per cent of US consumers engaged with Formula One have placed bets on fantasy gaming websites. What’s more, 16 per cent state that a brand sponsorship has the power to increase their favourability towards that brand. 

With an Opportunity Score of 37, there is room for new sponsors in this category to capitalise on the opportunity. 

Telecom companies

Number four on the list goes to telecom companies. The Opportunity Score is 35 among Formula One-engaged consumers who are planning to or have switched telecommunication providers in the past year. 

While some European telecoms have joined the roster of team sponsors in the past, the current gap is just waiting to be filled.

About SponsorPulse

SponsorPulse is a global consumer data company that brings transparency to every stage of the sponsorship journey through accessible and actionable sponsorship intelligence products.

Properties, brands, and agencies leverage SponsorPulse’s suite of solutions to make better, consumer-driven, sponsorship decisions faster.  

Get started today with free access to the SponsorPulse Insights Platform today!