You might not think a Formula One auto race in the world’s richest country some 5,000 miles from America would have any practical lessons for marketing your business. But some interesting parallels can be drawn between cars barreling once a year through a timeless principality, and the race you are running to market your business or non-profit.
For starters, Monaco is generally regarded as Formula One’s most challenging circuit. It’s a little over two miles of hairpin curves with rising and falling elevations. Drivers of the world’s most magnificent racing machines have to rely on utter skill to navigate through narrow streets where it’s almost impossible to pass another driver.
There are all kinds of storylines coming out of 28-year-old Australian driver Daniel Ricciardo’s dramatic first-ever win at the 2018 Monaco Grand Prix on Sunday. For me, at least three offer perspectives on long-term marketing success.
In marketing, there’s every temptation to make you divert your attention to enticing new tactics that really don’t pay off in the end. You can’t win if you don’t finish. Make your marketing investment, stick to your strategy and don’t panic when things go wrong. What will keep you going is the next lesson, which is to:
If you don’t believe in your marketing, how do you expect anyone else to? If you aren’t happy with your marketing efforts, it’s often up to you alone to have the internal drive to push through and succeed. Find what it is that will make you burn inside with the will to win.
Many times, you’re going to feel that you’ve lost power relative to your competitors. The race to tell your brand’s story is ever-challenging because you are competing with others for share of voice, mind and heart. That storytelling takes resources and it takes commitment. But it helps more than you know to have a trusted team around you who can see the bends and curves. You need to focus on finishing while they help to be your eyes, ears and hands.
You may not have the biggest advertising budget. But with a motivated focus on your vision, using past failures as fuel, and access to a great agency team to counsel and help you, you can be happy and win like Daniel Ricciardo did.