Marketing Formula 1 Night Race in Singapore

[jhongren]

Hi Warriors,

I am closely observing how the F1 Night Race is Singapore has been marketed online.

(You can get the whole story here
=> The Official Formula 1 Website )

These are what I observed:

1. Opt-in for free newsletters => F1SINGAPORE.COM | SINGAPORE F1 | FORMULA 1 SINGAPORE

(I think there are collecting potential customers who they can market to again for future races. But I think this one is not the official site but it appears as #1 result in Google when I search for "f1 singapore" . Just look at the keywords tags...and compare to the next site.

They are building a list which they can market to them at the backend even after the race

there is another official site here
=> Singapore Grand Prix )

2. Leveraging on Youtube to host videos

* * *

Other monetisation models:

1. selling ads such as image and banner ads online

2. selling of merchandise (there are many Joint Venture with local shops selling sports and motorcars merchandise)

3. promoting Singapore as a tourism spot (there is alot of backend here as tourists may return to Singapore again. Web visitors who have yet to know about Singapore may want to visit Singapore after this big event.)

Again, this is a live event and there are much more money to be earned from hotel bookings, ticket sales, advertisement spaces along the tracks and spectator stands...

So imagine the potential of a single website or blog. You may end up holding your live event in the future.

Cheers,
John

[Andyhenry]

It's gonna be a great Race John. I've been surprised how well they've created the track without affecting my ability to get around town.

Remember though - there's millions of dollars being spent promoting this event and a lot of those dollars would be spent regardless of whether they generated any profit or not.

Promoting this event is much bigger than just what money will be made, it's a Singapore country-wide promotion to the rest of the world and branding Singapore as much as it is actually to do with F1.

[jhongren]

Hey Andy, you are right. It is in fact losing money (or just barely breaking even in the front end).

The purpose of this event is more of gaining from the backend (just like internet marketing and selling of products)

Lately, I heard from the news that each corporate seat at the spectator stand has been sold for US$4,000 to US$5,000 each. Lunch and dinner will be catered too and they come with luxurious rooms for resting ...our eyes get tired because of the speeding cars... LOL