Tag Archives: #DareWinCelebrate

Formula E: Raising the Bar in Motorsport Sponsorship

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Season Four of the FIA Formula E World Championship resumes this weekend with the third round in the calendar coming from Marrakesh. As the first major motorsport event of 2018, now is a good time to reflect on the success of the championship and explore how Formula E’s approach to partners is changing the face of motorsport sponsorship.

As motorsport goes, Formula E is a Championship still very much in its infancy. When considering the achievements of the championship, this fact is something many forget. Over three seasons Formula E has established a global audience in excess of 200M, this compared to Formula One which using the same metrics reported an audience of 350M across 2017 is hugely impressive. On average, Formula E appeals to a younger audience, with a gender split whilst still leaning towards males is far more balanced than any other form of motorsport. The city-centre, single day format has proven successful, as have affordable ticketing policies. Attendance of an ePrix is successfully positioned as a family event.

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The level of manufacturer support Formula E has achieved since its inception has exceeded all expectations. Championship management targeted 4-5 OEMs to have committed to the championship by season five. With DS, Jaguar, NIO, Mahindra, Audi, Renault (set to run as Nissan from next season) Venturi, BMW, Mercedes, and Porsche now involved, the championship finds itself in the position of having the most manufacturer-backed entries in any form of motorsport. Of course championship management acknowledge manufacturer support is cyclical, but Formula E represents a unique platform for manufacturers to showcase Electric Vehicle technology in a cost-controlled environment. The appeal of the championship goes beyond racing, Formula E gives manufacturers access to an audience demographic they would otherwise struggle to connect with. There is every reason to expect the current level of manufacturer support to be sustained.

Season Five will see the most significant change in the championship to date. In a bid to keep team costs under control, Formula E limits the development of components on a season by season basis and in some cases mandates the use of standard equipment across all teams. Through season five, two of the most significant standard elements will be upgraded, in the battery and the car itself. Whilst both elements will remain standard items, significant improvements in battery technology will remove the requirement for a mid-race car change, alongside delivering a sizable increase in performance. With the new car, Formula E promises to amaze fans with a futuristic design incorporating FIA mandated cockpit safety structures in a fully integrated design concept. The new look championship promises to leave other forms of motorsport looking old-fashioned by comparison.

Following the lead of Mumm Champagne, long time partners of Formula One including Allianz and Hugo Boss continue to transition towards Formula E. This shift is due in part to the way in which Formula E engages with its audience and has positioned itself at the forefront of the conversation around Electric Vehicles. The technology demonstrated within Formula E is perceived to be of greater relevance to the future of the automotive industry and as a consequence, has positioned itself as a sport which a broad and diverse audience can engage with. Free from shackles of history, the Formula E message evolves with it’s fans. This open and dynamic approach sits well with the marketing teams behind the championships growing list of partners and continues to attract new partners to the sport.

Formula E and its approach to fan engagement has not gone unnoticed.  2017 saw Formula One announce a partnership with premium partner Carbon Champagne. In attempts to build awareness of the F1 – Carbon Champagne partnership, CEO, Alexander Mea has acknowledged taking inspiration from the Formula E podium celebrations. Carbon have already employed ideas such as the use of a DJ to build atmosphere around the podium (as seen at the Mexican Grand Prix), to branding the cool down room and presenting drivers through the crowds to increase visibility. Formula E and its partners have inspired the established brands to up their game to maximize any return on investment.

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Engagement extends far beyond the podium ceremony, for race attending fans the eVillage supporting every ePrix provides an area for championship partners to engage with fans, delivering both tangible sales and the ability to build brand awareness. Formula E encourage championship partners and local partners to embrace the eVillage and its captive audience of fans. Beyond the eVillage is the The EMOTION Club.  Formula E’s unique take on the VIP paddock life experience. In contrast to other forms of motorsport where team and championship guests are hosted in separate motorhomes or paddock buildings, Formula E, through the EMOTION Club, have created a shared environment in which all guests and partners are together, facilitating an environment which truly lends itself to the development of new business to business partnerships and allows guests to maximize their experience from both an entertainment and commercial perspective. Formula E has always been keen to ensure all brands and partners involved with the championship have every opportunity to maximize their position in the sport. Success in this open approach is evidenced by the fact that to date, all partners joining the championship have chosen to renew and extend their commitments.

Another great asset of Formula E is its relationship with the media.  Of course the sport has it doubters and critics, but media reporting from within the championship hold Formula E in high regard. Motorsport will be criticized irrespective of any decisions taken, but Formula E seeks to balance this by engaging with the media, explaining the strategy of the championship, ensuring a feeling of inclusion and community. Many journalists have been a part of the championship from the very beginning, they feel part of the championship and their value in its continued growth does not go unnoticed by championship management.

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With the imminent announcement of title sponsorship of the entire Formula E Championship, Formula E management can be proud of what has been achieved. Formula E continues to outperform rival motorsport championships in terms of its reach and engagement. Founding partners including Qualcomm, DHL, Michelin, and Mumm Champagne continue to be rewarded for their willingness to embrace a new form of motorsport. As the championship grows, so will their return on investment.

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Formula E: Julias Bär confirmed as Title Partner for the Zürich ePrix

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Julius Bär – leading Swiss private banking group and Global Partner of the FIA Formula E Championship – has today been announced as the title sponsor for the historic first running of the Julius Bär Zürich E-Prix.

The electric street racing series will be bringing circuit racing back to Switzerland for the first time in over 60 years, with the inaugural Julius Bär Zürich E-Prix set to take place on June 10.

With its headquarters in Zürich, Julius Bär has been Formula E’s global partner since the inception of the championship in 2014. Julius Bär has been instrumental in bringing Formula E to the streets of Zürich for the very first time and have acquired the naming rights for the inaugural race.

Gian A. Rossi, Head Switzerland at Julius Bär, emphasises the Bank’s pioneering spirit and its commitment to future technologies as the main reason to support Formula E and the Zürich E-Prix: “Formula E is an investment in our society’s future. The racing series serves as a test bed for innovations advancing the future of mobility and ‘smart cities’. We firmly believe that in a country whose flair for innovation is the secret of its success, the racing series will generate great interest and underscore the image of Switzerland as a hotspot for technology. The decision to pick Zürich to stage the race is the right one – after all, it is a flagship for research and innovation as home to ETH, one of the two Swiss Federal Institutes of Technology, as well as being the country’s largest city.”

Racing had previously been forbidden in Switzerland for decades, with the last event taking place at Bremgarten circuit in 1954. However, a law change in 2015 lifted restrictions on fully-electric racing and paved the way for Formula E to bring electrifying wheel-to-wheel action to the streets of Zürich.

Alejandro Agag, Founder & CEO of Formula E, said: “It’s only fitting that at such an historic moment in the championship and for motorsport in general, one of the main protagonists in bringing racing back to Switzerland for the first time in over 60 years, has put its name to the first-ever Julius Baer Zürich E-Prix. Since even before the first race in 2014, our global partner has believed in the concept of electric street racing and has been instrumental in making the championship what it is today. Formula E makes history at every race, but on June 10, Formula E becomes the first category to bring back professional circuit racing to Switzerland – none of this would have been possible without Julius Baer and the vision of electric racing.”

Sebastien Buemi, Renault e.dams driver and proud Swiss, with his country’s flag emblazoned on his helmet, has stood on the top step of the podium 12 times before in Formula E, and will be looking to not only secure the Julius Bär pole position award, but put his name in the history books as the first professional circuit racer to win at home in over six decades.

“I cannot wait to be able to race on home soil – it’s something no other professional circuit racer has said in 63 years! The atmosphere of racing on the streets, coupled with having your home crowd cheering you on is something I’ve never experienced before and this will be one of my dreams achieved – I can’t thank everyone enough who has played their part in bringing racing back to Switzerland; from the city, the fans who have supported this, Julius Bär and Formula E,” the 2015/16 champion said.

Head to the Zürich ePrix website for all the latest on the event and to order your tickets, by clicking here