v8 supercars pitch - advertising & promotion - assessment item 2
TRANSCRIPT
Overview of Internal Investigation
• Current Target Market:
• Men from Generation X + Baby Boomer. Aged between 30-65
• Middle class socioeconomic status - average earning between $40k & $75k a year
• Family men - “thrill factor”
• Sport creates excitement and adrenaline for fans
• Competitors
• Traditional Australian Sports: AFL, NRL, Cricket
• Internation Motorsport Series; Moto GP, Formula 1 & NASCAR
Appeal to Younger Generations
• Currently the sport only markets to approximately 35% of the male population, made up of both baby boomers and generation x.
• Opportunity to appeal to younger generations.
• Generation Y in particular will improve the core-target market to over 50% of the male population
• The key to Generation Y is through Social media marketing
• Currently v8 supercars utilise mass-media:
• Television
• Radio
• Opportunity to improve online presence to remain relevant
Appeal to Younger Generations - Social Media
Marketing
Social Media Marketing
• Currently V8 Supercars have a presence on all major social media channels:
• Instagram - approx. 35k “followers”
• Twitter - approx. 85k “followers”
• Facebook - approx. 600k “likers”
• YouTube - approx. 85k followers
Administration of Social Media
• Presence by it’s self is not enough - however provides a great core-audience base
• Timely and productive administration is KEY to effective social media marketing
• Most social media platforms also provide thorough analytics to help understand your audience better. - Create better relationships
• Currently there is little or no interaction with fans online
Administration of Social Media
• With no interaction with fans issues can multiply and spiral out of control.
• Important to respond to fans whether their comments be positive or negation
• Relationship marketing - all about developing a repor with the fans through a two way communication stream
• Ensure all anti-social behaviour is dealt with accordingly; e.g. - removing abuse or swearing
• Hire dedicated and experienced staff as full-time social media managers
Environmentally Conscious Consumers
• Younger generations are becomingly more and more environmentally conscious
• Purchase decisions for consumers are now more than ever being based on sustainability of products.
• This this reason it is important for V8 supercars to ensure sustainability in all aspects of their sport. Similar to the Formula 1changes - smaller/ hybrid engines, reduced noise pollution, sustainable fuel.
Core-Audience Resistance
• Brand change over last three years
• New logo & website - modern, reflects the direction of the sport
• New television rights deal - free-to-air to subscription based.
• New manufactures - introduction of Nissan, Volvo & Mercedes
• Biggest challenge for the sport is their core-audience’s resistance to change.
• Boycott V8 Supercars on Fox - Facebook Group
Online Media Subscription Service
• Substitute to the more expensive Pay-TV subscription service offered by Foxtel
• Online based Media service:
• Live races
• Highlights
• Exclusive content
• Databases of Historical Content
• Similar to services offered in America with NBA & MBL League Pass’, and recently adopted in Australia by competitors Cricket Australia & AFL
• Will assist in bridging the gap for disgruntled customers, by offering a cheaper yet enhanced experience for fans
• http://watch.nba.com
Integration of Supporting Categories
• Strategy to reduce resistance to change and improve the relationship between fans and new teams/manufactures
• Integrate V8 supercars & V8 utes touring series, have them follow the same schedule with the same logo, and same webpage layout.
• http://www.v8utes.com.au
• http://www.v8supercars.com.au