Marketing Lessons From the Horse Racing Industry

The horse racing industry has been a mainstay in the sporting landscape throughout generations, with the sport being in operation long before the first Super Bowl and Stanley Cups were competed.

Racings ability to continue to adopt new techniques to reach a younger audience has secured its future for generations to come, and much of that has been powered in unison based on the strides made in online gambling.

Marketing has played a key role in the longevity achieved by racing and it will play a vital role in the coming years for the sport, as it continues to grow across the world. How else does one know the best handicapping contests by TwinSpires.com to participate?

So,, what are some of the marketing lessons that can be learned from horse racing and be used across other sports?

Understand the Audience

One of the most important pieces of marketing that horse racing gets spot on comes down to understanding the audience that they are looking to cater the product towards.

For markets in the U.S. and Europe, this revolves around the betting angles, with the vast majority of those tuning in or attending the racing looking to place wagers on the action.

Therefore, broadcasters will mention odds and prices throughout the race day, ensuring that bettors don’t switch off from the broadcast.

Meanwhile, marketing emails from racecourses also focus on the betting side of the sport, with key information such as the number of bookmakers on track and whether cash or card will be accepted both mentioned on materials released to potential Racegoers.

Storytelling

More and more sports are beginning to focus on the art of storytelling due to the success that it has had in the world of horse racing throughout generations. In the sport, it enables everybody to dream that even the most impossible dream could be achieved.

This is reflected in owning horses, or re-telling the stories of jockeys that have overcome immeasurably challenges despite the odds being stacked against them. Unlike the betting angle, being able to tell stories behind the stars of the sport caters to a new audience that are looking to get involved in the sport.

Superstars at the top of sport often have the power to transcend the action, with legendary figures such as Ryan Moore and Frankie Dettori becoming household names across the world throughout their career. Being able to tell these stories gives racing a human element that consumers can latch onto.

Blogging & Content

A way in which racing has been able to adopt to new technologies that have played a continued importance in the modern day comes in the forms of blogging and content on social media.

There are growing numbers of younger fans looking to embark on a career in racing, and social media has been a power tool to help aid their chances. Younger creators are able to video a trip to the racing, sharing their bets on track and highlighting the highs and lows of the sport that many passionate fans enjoy and endure throughout the year.

This has a profound impact on bringing fresh eyes to the product, as it is quickly able to reach new audiences that racecourses themselves wouldn’t be able to reach. Blogging is also incredibly popular in racing, with many affiliate marketing plans being in operation among leading sportsbooks and racecourses.

Blogging enables companies to reach their target audience easier, and offers a quick route to get involved in the sport for those that want to get closer. It is also a lucrative business for the companies themselves, as they could pick up new customers via affiliate marketing.

Targeting Local Customers

Racecourses often find themselves in competition with other tracks, due to the geography seeing them located near. Therefore, the area to capture interest of the consumer can often be trickier in racing than in any other sport.

But, marketing plays a key role in getting consumers to the track, with the targeting of GEO locations being a key part of that. Therefore, tracks will use paid marketing campaigns to ensure that they feature on social media pages of those that are within 30 miles of the track. This will pique the interest of the reader, and they will be captured by the social elements of the day.

Pictures of Racegoers having fun and socialising with friends will be evident throughout these marketing campaigns, with images of the raceday often kept to a minimum. Unlike other sports, racing has the ability to cater its product to two different sets of consumers.

The first of those being the bettor and the avid racing fan, while the other is the consumer that is looking for a day out with friends or family. The latter has been an important market for racing, especially in terms of the major events on the calendar, as it gets people through the door, and potentially a lifelong love being born.