Motorsports – Word of the year: Value

While enjoying my holiday away from school, I’ve had some precious time to reflect on my experience in Orlando at the Motor Sport Business Forum. Among almost every session, I found the distinguished panels to keep repeating one word: VALUE.

I want to a share a few memorable anecdotes.

Eddie Gossage, President of Texas Motor Speedway, was asked a question about what his track has done to ease the burden on fans at the track. According to focus groups conducted in the Dallas-Fort Worth area, the ability to bring a cooler into the racetrack and free parking are two amenities that set TMS apart from any other sporting option in the region. Contrast that to the new Texas Stadium, home of Jerry Jones’s Dallas Cowboys where it costs $75 just to park a single vehicle!

While some perceive the series to be struggling, IRL President, Terry Angstadt was able to shed a lot of light on American open-wheel racing, which I know far less about. Clothing company IZOD originally began a relationship with IndyCar as an Official Apparel sponsor in 2009. It has since embraced the diversity that IndyCar represents (having a driver lineup far more diverse, with many competitive foreign and female drivers), and wanted to increase involvement. Starting in 2010, the IRL has changed its name to the IZOD IndyCar Series. It will kick off 2010 with a third race outside of the US, on the streets of Sao Paulo, Brazil, in addition to races held in Toronto and Japan.

NHRA President, Tom Compton, spoke about the objective of delivering value to four main constituents. First, the fan – through delivering high quality entertainment. Second, the sponsors – using the sport as a vehicle to sell products, services, or promote awareness. Third, the tracks – holding their events provides income, and long-term stability for the series. Last, the competitors – by maintaining the prestige of the series to provide satisfaction and an income.

Susan Lute, from Canadian Tire, title sponsor of NASCAR Canada, laid out four strong points for when a company searches to activate their sponsorship. First, objectives for your plan must be defined. Deviating from those objectives can cause you to lose sight and miss your point. Second, move from “I think,” to “I know.” Third, a company’s goal should invest in a marketing message that reaches 100% of your intended target. Last, this would apply for any working relationship, being excited about working together helps both parties succeed.

To conclude, Eddie Gossage and TMS have worked to increase the value for fans by keeping a little bit of cash in fans wallets. The IZOD IndyCar Series has a more diverse culture, which has attracted new partners. NHRA has outlined who they serve, and strive to meet their goal. Canadian Tire, has outlined their strategy which not only increases value (sales) for the company, but experiences a mutually beneficial relationship working with NASCAR Canada.

These just a few pieces of information I was able to pick up while attending the Motor Sport Business Forum. I hope you find it interesting. Please, feel free to ask questions or leave comments. I look forward to responding to your thoughts and writing more over the next few weeks.

As always, follow me on Twitter, connect via LinkedIn, or email kylecedington@gmail.com.

History-Making at the Motor Sport Business Forum

Having just got back from the Motor Sport Business Forum in Orlando, Florida, I am still decompressing and comprehending all that went on in the 48 hours I was there. One of the very first announcements made at the opening session, promised guests a special announcement at the Tuesday evening cocktail reception, sponsored by The Walt-Disney Company.

As a participant in the MSBF, I was one of a select few who witnessed and awarding of the inaugural Paul Newman Winning Through Giving Award. This new annual award will be given to an individual who shares the late acting star's passion for motorsports and the unwavering devotion to philanthropic work.

The award was presented to Jim France, NASCAR Executive Vice President and ISC Chairman. Presenters included Zak Brown, CEO of Just Marketing International, Simon Berger, CEO of IM2 Events (individuals who developed and created the MSBF event); selection committee chairs Sarah Gurtis, Camp Boggy Creek Vice President of Marketing and Corporate Development (a Paul Newman Hole in the Wall Camp in Eustis, Florida) and Michael Brockman, Newman's former racing teammate and actor.

The award was preceded by a video sharing the impact motorsports had on Newman's life and how his philanthropic efforts have changed lives and inspired others to make a difference.

In the years to come, as the awareness of this award grows, the Paul Newman Winning Through Giving award will be one that will be highly regarded and respected beyond the motorsports community.

In my next few posts, I will discuss the impact of the MSBF, and touch on some topics/points made speakers, and other thoughts I on the great event.
Please feel free to leave comments, as I would love to discuss your opinions and hear more from readers.

Buy Nothing Day - Latest Holiday Craze!

It's been a while since I have posted a picture of the week. I think this will qualify. For my Graphic Design course, we are to design a postcard encouraging participating in Buy Nothing Day. On Black Friday, instead of getting up early, and spending unnecessary hard earned money on likely useless items, spend the day instead with quality family time. Play a game, go outside, enjoy the Thanksgiving leftovers, etc! So do your family a favor and hangout with them instead of potentially getting trampled at Toys 'R' Us.

Enjoy, have a Happy Thanksgiving! I'll see most of you when we return from break. In the mean time, keep blogging! By the way, if you like the Buy Nothing Day image, please email me or give credit where credit is due. Thanks!

Students In Free Enterprise Video

This video was created to help encourage students to become active in student organizations, and specifically Students In Free Enterprise.

Heard on the Tundra - Keep your eyes open!

I just wanted to share a brief piece of advice with my readers. Keep you eyes open on new and exciting ways to demonstrate abilities. This applies to anyone interested in gaining meaningful employment after graduation. As a peer career assistant in the Office of Career Services, I have a variety of responsibilities, but the latest task is really exciting.

I now get to be the Voice of the Office of Career Services, occasionally recording spots that will be played on WONB, our university-run station. Not only do I get to learn how to use different technology to record and edit myself, but I also get my name over the airwaves!

Be open to exploring new opportunities, whether they relate to your field of study or not. I will say that using the podcast as a baby step, made me feel more comfortable recording in the studio.

I'm also working on putting together a digital portfolio of sorts, and I'll look forward to the addition of an mp3 copy of my work from WONB. So my point: take advantage of unique opportunities presented to you!

In-race Social Media Interaction

Every year I look forward to watching the four restrictor plate races at Talladega and Daytona. The unpredictability, tense and tight 30 car packs, create a must watch event. After the wild finish at Talladega in the spring, when Carl Edwards attempted to block Brad Keselowski, and left Edward airborne and in the fence, NASCAR has implemented a number of changes.

A. First and foremost, the speedway raised and improved the catchfence, for fans safety. There were a few minor injuries after the spring race when debris from Edwards car hit the fence. 
B. NASCAR made a change to the size of the restrictor plate carburetor, reducing the power to keep the top speed below 200 miles per hour.
C. This final change is one that is somewhat controversial. Due to the design of the cars, when two line up bumper to bumper, the aerodynamics create such an effect that the two cars can pull away from the pack of cars. [It was truly exciting to see the strategy work when the two cars become one and charge through the field.] So after final practice on Friday, NASCAR made a change stating that cars need "daylight" between them and can no longer push bumper to bumper through the corners. 


Needless to say the style of racing has changed today, as I'm watching the race. Many have been upset from drivers to fans with the mid-weekend change. While I'm a little sad to see the change made, I do realize that it was made to keep the competitors safe; I figured I'd check to see if there was any activity on the NASCAR Facebook page. The following quotes are from some opinionated fans posting on the NASCAR Facebook wall during the middle of the race.


"Nascar isn’t saying anything now to em, hmmm, maybe [NASCAR President] Mike [Helton] got his head out of his ass!"
"Looks like a IRL race""Finally a little bit of excitement, ok Nascar time for you to step in with your warnings, its getting to crazy.""Come NASCAR, REALLY? This race sucks! I'm so pissed that's about as nice as I can be right now!""Did nascar ok this 3 wide?""there more excitment on this board then on the tv""It's bad when right now I am watching the Cleveland Browns more than the race"

While the middle of the race was a little boring, the end is sure to be gratifying. Now if you'll excuse me, I'm going to get back to he race. Enjoy

Inagural TGC Sports Talk with Kyle Edington and Herb Hufford

Check out our first TGC Sports Talk podcast. Topics include the latest with the Ada Bulldogs and comments on the inagural induction class of the NASCAR Hall of Fame.

Please feel free to post any comments. Herb and I look forward to producing more TGC Sports Talk podcasts. We're open to new ideas for discussion or how to improve.

Be sure to follow us on Twitter! Myself, Kyle Edington - @KyleEdington - or Herb Hufford - @CoachHerb.

Democratizing Control of Information

In the latest chapter reading from the book, Citizen Marketers, it discusses how the blogosphere has granted the power do distribute information, among a larger group of people, at a rapid rate due to the ease and speed of many social media technologies. As I read, I tried to highlight some of the most interesting statements and I want to offer some of my thoughts on a couple topics.

First, I think it is amazing to take the ability to find an inadequacy, fix it or offer an alternative, and be able to make money. It's the classic, "if I'd have only thought of that first" mentality. The book's example is how the Trott's were able to make blogging a more user-friendly and accessible experience through creating Movable Type. For those, who are unware, the latest version has a significant number of features. One allowing individuals or groups to create a social network. The first one that comes to mind is President Barack Obama's site, which was part of his influential social media campaigning, in the last election. Putting power in the people's hands, Obama's campaign mastered this theory. Obama's site allowed his supporters to go online, host individual rallies, encourage voting, and watch election results. These were all events that were previously organized by campaign officials that were now allowed to happen at the free will of avid supporters.

The biggest challenge in blogging and spreading the word (of yourself/company) is to gain attention and followers. It helps having a strong brand, or a celebrity-esque name. Look at Twitter, and the number of people who follow large corporations, or celebrities like Shaq and Ashton Kutcher. (Follow Me here!) Also, Citizen Marketers recommends you become a "prolific linker." I'm not sure how many links per post make you prolific, but I at least try to link terms that make the most sense to the relevance of this post.

To wrap up, I know it has been mentioned to drop this book from the reading list, but I have found myself enjoying the reading in CM, the most so far.