Presented by UBS, Lewis Hamilton takes part in a live Q&A with fans ahead of the start of the season:
— UBS Formula 1 (@UBSf1) February 17, 2017
Mercedes AMG Petronas have dominated the 2016 season to date. In the first half of the season the only real threat to their dominance has been themselves. At the Spanish Grand Prix in May this year, every team’s worst nightmare came to pass. Lewis Hamilton and Nico Rosberg collided on the opening lap of the race immediately eliminating each other. How do a team move on from that?
They just move on.
In this exclusive film from the UBS Formula 1 team, the Mercedes AMG Petronas team talk candidly about the direct and immediate impact the incident had on the team, and much more importantly how they refocus and move on to the Monaco Grand Prix.
It’s incredible to think that a team of 850 people are behind those two cars we see on track every other weekend. F1 is the ultimate team sport! Team members can spend as much as 200 days a year on the road, sacrificing family life and personal time for the benefit of the team. Their commitment and dedication is relentless.
For an enthusiast, such as myself, focused on the commerical side of motorsport, UBS Formula 1 provide excellent insight into the way in which the Mercedes team prepare for Monaco as a business and how the team are constantly benchmarking themselves against not only other teams on the grid, but other racing series and other sports. We get to hear from Nico Rosberg’s management team in the form of Georg Nolte, who talks through his role and how he and Nico work together in every aspect of his performance both on and off the track.
What I found most impressive about this film was the genunie sense of pride the team take in their success. They are building a legacy, every member of the team is proud be part of the Silver Arrows.
For more exclusive UBS Formula 1 content follow this link
and if the team are looking for a guest to sit in the W07 during pit stop practice in Monza or Spa, give me call!
Swiss Bank UBS are a key partner within Formula One. Working directly with the Mercedes AMG Petronas team and with Formula One Management the bank is heavily invested in the sport and will continue to be for some time to come. In an exclusive interview for JWGP, we explore what initially attracted UBS to the sport, how they measure success, and the future direction of the partnership and the sport in general.
A key point of interest in this interview is around the audience UBS are targeting or seeking to attract with the partnership. Whilst other banking partners within Formula One use the sport as a platform to attract a diverse audience, the UBS approach is geared heavily towards its Wealth Management customers and the audience demographic in that sector. This focused approach explains in some way why despite being one of the more significant partners to the Mercedes AMG Petronas team in terms of investment, branding on the car and with drivers is minimal.
Formula 1 is a global sport that attracts over 400m unique viewers every season. It operates for nearly 12 months of the year and touches all major markets that UBS operate in
UBS entered Formula 1 in 2010 as a Global Partner, and has grown and diversified its investments in the sport since then. Formula 1 provides UBS with global brand awareness, an ability to invest in the creation of deeper client relationships through at-track client programs around the world, and a platform to both amplify brand stature and change brand perceptions. By adding the partnerships with the MERCEDESAMG PETRONAS Formula One Team and ex-Formula 1 legends, such as Sir Jackie Stewart, Mika Hӓkkinen and David Coulthard, UBS create and deliver truly unique at-track experiences for their clients. By working together with Formula 1 experts, such as James Allen, UBS produces engaging content that drives social media campaigns around topics such as strategy and insight. Further Formula 1 insiders such as Susie Wolff were also included to add even greater depth, diversity and appeal to the program.
The key audience is UBS Wealth Management customers, who can be classified into existing and new clients. On the one hand we aim to increase brand visibility in our key markets and on the other we try to enhance brand relevance by distributing insightful content to our target audience. The distribution of this content is purely via digital and social channels. Looking at the hospitality, it focuses more on existing clients, who are invited to a select number of events where we try to give exclusive access to the sport, the drivers and our ambassadors.
The partnership with the MERCEDES AMG PETRONAS Formula One team provides UBS with the opportunity to create truly unique at track experiences, as well as access to the team and their star drivers for content.
KPIs are set alongside the strategy, and continue to evolve year by year – metrics such as client satisfaction, brand exposure and brand equity all feed into an analysis of success.
It would be hard to say if there has been any direct influence, but UBS and Formula 1 share common traits. And these similarities are what UBS enjoys exploring for the fans and followers of the sport. Traits such as strategy, insight and thought leadership are common to both UBS and Formula 1 teams and the series.
As a partner of the MERCEDES AMG PETRONAS Formula One team we are pleased with the team’s success so far. With the top teams hot on their heels, it promises to become an exciting season.
The experiential and content plans for 2016 are very exciting. UBS will continue to deliver insights into the sport, the strategies for success and how Formula 1 is pushing the boundaries in numerous disciplines to as broad an audience as possible.
The commercial side of the series has pursued a trend of moving from free-to-air broadcasting to pay-tv. This is a business decision which we cannot comment on. However, with the growth of social media in recent years, we feel more people than ever are watching the sport, commenting on it or are aware of race results.
The UBS relationship to Formula One as a partner is an interesting one. The bank has committed to a strategy of using the sport as a platform to reward and attract the wealthy. With the agreement heading into it’s 7th year it is clear all parties involved are seeing a return on the relationship. As a prestigious brand involved in the sport similar to Rolex, Chandon, or Emirates. UBS through their social media and digital interactions have developed a profile as an aspirational partner, the banking partner fans will think of when they reach a certain level of financial wealth in their private lives. They do this at the same time as rewarding those who have already achieved such success in a way which ensures customer loyalty.
It would be interesting to hear from other partners in the sport taking a similar approach.
As a keen and vocal fan of Formula One I often find myself being asked why? What could be interesting about watching a bunch of cars going round in circles on a Sunday afternoon?
For years I have argued that the sport is much more than the action we see on track, and that my true fascination with the sport is far more to do with the business of the sport. Followers of this site will know one of the highlights of a race weekend for me is spotting new sponsors with teams then working to find out the story behind them.
Whilst news of this nature is something easy to grasp and communicate, I have come to realise that a logo on a car or a new person joining a team is only the beginning of a story, and what really intrigues me about Formula One is personality. I’m fascinated and inspired by stories of people who have found success in the sport that I love.
This fascination is probably why I found the UBS profile of Toto Wolff, head of Mercedes-Benz Motorsport, so intriguing. I knew snippets of how Toto came to be involved in the sport, but never really had an appreciation for his background or philosophy.
To hear about of his humble beginning’s, his pragmatic foray into motorsport as a driver, his success during the first .com era, and how his initial move into F1 came through Frank Williams desire to pay of the mortgage on his house gave me an entirely new perspective of Toto. More compelling is the explanation of his partnership with Mercedes Benz and the AMG Petronas Team. Rather than simply joining the team in a management capacity, Toto invested into the team believing that through having ‘skin in the game’ the will to succeed will be further heightened.
Toto goes on to explain his perspective on a modern day Formula One team, commenting that the days of a single individual overseeing every aspect of a team are a thing of the past. Success is seen through working as a team, recognising the need of having the right people around you, the need to communicate, and the need to learn new things every day.
The seemingly endless saga around who should lead the Formula One of the future often circles back to the need for a ‘dictator’ style of leadership. This is not something I have ever bought into, the approach does not work in business, why should it work in Formula One? The future of Formula One to me requires a balanced level headed individual capable of recognising the need for support from others. Perhaps in this film from UBS, Toto is positioning himself for that role?
So the next time someone asks me what it is about Formula One that I like so much, I will point them in the direction of this film and the personality it portrays.
To follow Merecedes AMG Petronas on social media click here
To follow UBS F1 on social media click here.