By Marketing at Full Speed owner Annamarie Strawhand
Many race car drivers and teams are using crowdfunding websites these days to try to raise funds for their racing through donations. It looks very tempting to do as a fast and easy fix to get the money you need to race. You go in with high hopes that this can be the answer to your problems. You get all your family, friends, neighbors, teachers, co workers and Facebook followers to donate and you push and push them to keep donating to hopefully reach your goal amount.
Although many racers and teams are on these sites, pushing for “donations” I have watched these very carefully and have come to the conclusion that very rarely does any racer actually meet their funding goal, or even get halfway in most instances.
Putting yourself in a position of asking fans to give you money to race can shake the ground you have as a leader and role model that they can look up to. Repeating the “donate to my racing” process over and over will lower the respect and trust of your fans after a while.
Looking at this as quick fix or a true funding solution, is like putting a tiny band-aid on a gushing, bleeding wound. It does not solve your long-term funding problems. You will face the same problem over and over because you did not properly address the root of the problem to begin with.
Before you resort to crowdfunding sites, ask yourself these questions:
- “Have I really done everything I can to properly and consistently market my brand and celebrity to potential sponsors?
- “Did I take the time to learn how to really attract sponsors and create the value for them that they are looking for?”
- “How would a sponsor look at me if they saw my donation page? Would I look like a valuable marketing representative and spokesperson to them?”
- “Why do I have to resort to begging everyone I know for donations to race? How did I get myself in this place?”
- “Do I want to look desperate and needy? Is there another way to do this with dignity, professionalism and integrity?”
- “How many race drivers and teams are successful in doing this, are they successful in the long run or are they quickly back to being at square one?”
- “Have I really addressed the root of my funding problem? Have I looked at this from a business perspective and taken my emotions out of it?”
Did you know that using crowdfunding can actually be DAMAGING to your racing career? Join me over on MarketingatFullSpeed.com to explain why and read about POSITIVE ALTERNATIVES to using a crowdfunding site to go racing.
Motorsports Marketing Mentor and Sponsorship Attraction Coach
Creator of the Sponsor Attraction System™