Study: HP Leads The Pack in F1 Sponsorship Efficiency
How much value are formula one sponsors getting for their money? Sponsorship consultancy firm Sport+Markt set out to answer that question with a recent study. The German sponsorship consultancy compared brand awareness versus the amount spent by F1 sponsors in 2010. The results yield some interesting insights into the sponsorship cost efficiency of F1's top brands.
Fashion brand Hugo Boss, a long-time McLaren sponsor, had among the most efficient investments in F1, reaching 4.9 million people for its $3.1 million annual spend while HP ranked the highest with its modest, but according to the study very efficient $1.5 million spend. DHL, an official partner of formula one, ranked only 32nd for its reported $10 million outlay. Note: the study doesn't take into account significant value-in-kind in calculating sponsorship expenditure.
HP secured a two year partnership with the Renault F1 team in 2009. In addition to significant on-car branding, the Palo Alto-based tech giant supplied mobile 3D workstations that helped the the team analyze data at the racetrack, provided race simulation technologies and helped the team track and reduce its carbon footprint.