E turns to high-tech to survive
James Bower, Mclaren’s marketing direcr, lived through Formula One’s sponsorship pheaval. “Towards the end of that era — between 01 and 2006 when the new directive kicked — what you did see was some brands pushg harder into lifestyle and pushing harder to what we recognise now as the deepactivation levels, as opposed to just slam arlboro on the side of the car, throw a few rties, entertain some B2B trade retailers d call it a day,” Bower said. “That drove a more innovative state, and it incided with Red Bull’s entry into Formula ne, which kind of almost took over the mane of the lifestyle.” The loss of tobacco, the advent of lifestyle branding and active consumer engagement have also had teams like Mclaren change their sponsorship focus, abandoning the old model of a big-ticket title sponsor for a series of smaller but longer-term deals.
In 2018, Mclaren has raised about $32.4 million in new deals with partners including Dell, HTC, Logitech and Airgain.
Exact financial details are heavily guarded, but Mclaren said the money came in the form of longer contracts of five to six years.
Mclaren’s roster of new partners is too recent to have made a difference to the team’s racing results, but the four-time world champion Mercedes has already proved that the right technical partnership can increase performance and income.