The Future of Marketing in F1

A little over an hour ago, the 2021 F1 Rules 'blueprint' was announced. Although behind schedule as the proposal was due to be unveiled in June, these new rules will form the basis for the future of the sport. And they don't stop at the technology and on-track racing...

Over the last decade, Formula 1 has come under scrutiny from all angles; politics, technology, regulations, competitiveness, innovation and so on. Every area has been under the microscope as the reins have passed from Bernie to Liberty, and as the larger teams continue to dominate with the smaller teams aiming to get the best bang for their buck.

The new rules concentrate around 'CORE PRINCIPLES' including;

1. More raceable cars (simpler aerodynamics and tyres)
2. More competitive grids (less reliance on the pit wall)
3. Cars that make you go 'wow' (cutting-edge designs)
4. A financially viable championship (standardisation)

Clearly the focus will continue to be around the car, the drivers and the infrastructure required to run a motor sport team. So why am I focusing on marketing? Because point 4.

The final line of the blueprint released on the official Formula 1 website is as follows:

Marketing activities probably wouldn’t be restricted under the cost control either as, according to Brawn, “that's good for Formula 1, that's good for everyone”

As a marketeer with a passion for Formula 1, this is exciting news.

Present day Formula 1 teams currently employ anywhere between 400-1,000 staff across all aspects of the business from engineers to aerodynamicists, strategists to mechanics, HR to operations and so on. However, in contrast, despite such large staff numbers overall their marketing departments can be as small as 10-15 people. If the teams are operating with approximately 2-3% of people in a department where activities probably wouldn't be restricted... will they see the opportunity and invest more here?

Liberty Media certainly seem to be leading the way already in the very short space of time they've owned Formula 1. They're slowly re-envisioning every part of the sport from the obvious rules and regulations, through to the rebrand of 2018, brand partner integration with companies such as AWS, and their own market research department called 'F1 Fan Voice' who are winning MRS awards with their approach (my personal favourite).

My final thought is this. If marketing by definition has such a broad reach, and in itself is all-encompassing to every internal/external/consumer/partner touch point, will teams see the opportunity to grow their activities here whilst other areas are being restricted? Or will it be business as usual just with a much more level playing field?

Whether you're a marketeer working in the sport, a passionate motor sport fan or simply have an opinion to share, I'd be interested in hearing your thoughts...