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SBD Global/November 15, 2013/Marketing and Sponsorship
Ferrari's Renato Bisignani Says F1 Team's Consistency Vital To Attract Sponsors
Published November 15, 2013
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CAN’T LIVE WITHOUT THEM: While Ferrari’s on-track consistency is key in attracting new partners, it is sponsorships that provide the team with the necessary funds to race. Bisignani: “[Sponsorships are] very important. They are fundamental because our racing activities are entirely self-financed through sponsorships, and on top of that we obviously have the revenue generated from TV and commercial rights as part of the prize fund from the commercial rights holder, Formula One Group. So they are vital to enable us to go racing, and on top of that we have a very specific commercial strategy to follow with a few, but very important brands.” According to Forbes, Scuderia Ferrari had a race budget of $260M in '11 with title sponsor Philip Morris alone paying $160M.
ONE-TWO PUNCH: This commercial strategy is based on Ferrari’s two worlds, the racing side and the luxury road car production side. Ferrari’s racing activities provide a strong sponsorship platform for brands to obviously gain visibility and engage with their consumers on a worldwide basis, whether in Formula One or across our 360-degree range of offers, Bisignani said. The road car production side, on the other hand, speaks to high-end, premium customers, which are Ferrari clients. Ferrari uses different logos for the two segments. Bisignani said, “The prancing horse alone refers to our GT and more lifestyle and premium activities. For example, we have a very vast licensing portfolio of partners, and we offer them the opportunity to develop more high premium products using one kind of brand.” However, Ferrari’s motorsports logo, which it calls Scudetto, can be found on fan products that are priced at a lower level. Bisignani: “It offers a very different range of opportunities that enables us to target companies that, at the end of the day share our same values: innovation, technology and passion.”