Studying The Sports Industry: Chip Ganassi And His Innovative Team
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Studying The Sports Industry: Chip Ganassi And His Innovative Team

While the sports industry is transforming, Chip Ganassi is tapping into the Millennials and Generation Z population while competing on many different fronts of the sport.

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Studying The Sports Industry: Chip Ganassi And His Innovative Team

"The Future of Sports" is here, as Jeremy Jacobs, chairman of Delaware North and owner of the Boston Bruins, released a recent analysis of the likely transformations the sports industry is to take 5, 10, and even 25 years from now. This remarkable document taps into the evolving layout of stadiums, the creation of third party venues, scientific development of the human genetic pool, and the turning tide of broadcasting, advertising, and sponsorships. But it is missing a million dollar part of the sports industry …racing. The only significant mention of NASCAR in the report is the possibility of regulating the human body just like NASCAR regulates its stock cars. But NASCAR is as much a part of this futuristic conversation as baseball, soccer, and football are. The report suggests that sport sponsorships may eventually become obsolete, turning the money towards creating messages for specific audiences. The leading thinkers in this report believe personalizing content for one enormous audience that can then view their information on personal devices may replace the sponsorship. This could cause a problem for a sport that depends so heavily on sponsorships. The funding for each car in NASCAR is about $20-30 million, requiring teams to have a solid lock on sponsors that are willing to take a chance on the driver, races, and other mechanics of the race season.

That is why NASCAR is lucky to have teams like Chip Ganassi Racing engaging and evolving the racing industry dynamics. Chip Ganassi, a former IndyCar driver and recent inductee into the Motorsports Hall of Fame, runs 19 drivers over six series. With Kyle Larson and Jamie McMurray in the NASCAR sector and Scott Dixon leading in Indy Cars, Ganassi also races in United SportsCar Championship, and the Global RallyCross Series.

Sports experts are predicting that fans will gain more power over their experiences and interactions at sporting events. Many tasked with the challenges of growing the auto racing sport are saying that part of the problem facing NASCAR is that it needs to tap into younger audiences and move past their homegrown base of Southerners. And so it is no surprise that Ganassi is leading the way by staging actual events that have drawn in 18-30 year olds. In its second year, Ganassi Sound Garage has invited social media influencers to create content for a concert with an artist that appeals to youngsters. This year’s artist was A Thousand Horses, and last years was Cassadee Pope. At these concerts, fans have an opportunity to see the drivers’ cars and are exposed to all the sponsors. Fans are actually able to meet and talk with the leading faces of the Ganassi brand, mixing the consumer with the team. Additionally, the sponsors are able to create a full experience for the fans. For instance, McDonald’s was serving all day breakfast, Target had its celebrity dog Bullseye posing for selfies, and Axe had a grooming station. This all took place with hundreds of fans in Concord, North Carolina, but the fun didn’t stop there because the hashtag, #SoundGarage was inviting fans from all over North Carolina to tune in with Ganassi.

Ganassi takes full advantage of social media as well, creating campaigns like “Chippy the Elf” for the holiday season, which is connecting Ganassi with an even younger generation of NASCAR fans. My favorite campaign was #AskChip, in which fans on twitter could directly ask Chip Ganassi questions. From a public relations standpoint, nothing can be better than making the product accessible. In this case, Chip Ganassi is talking directly to the people that are passionate about racing and the team that he has created.

For Ganassi this extents beyond a domestic audience. With a solid footprint in Indy Racing, his drivers draw in international fans. One of Jacob’s suggestive transitions in sports is for teams to move outside their national realm and compete with talent from across the world. In that way you really are seeing the best competition and the best drivers the world has to offer.

Make sure to watch the Ganassi Racing team as the official start of the 2016 season is just a few weeks away at Daytona!

For more information about Chip Ganassi Racing please visit the website.

 

Check this outfor more information about sponsorships in NASCAR, or click here for more information about Ganassi Sound Garage.

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This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
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