F1

Challenge

Due to the complex structure of the landscape, Formula One had a limited understanding of previous F1 attendees and no clear path to understanding prospective buyers for their most premium hospitality offering—the Paddock Club. Formula One partnered with Elevate to analyze and segment prospective Paddock Club buyers to inform product development and prospecting strategy.

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Strategy

A comprehensive analysis and segmentation using EPIC was conducted, focusing on key global regions to encompass the entire F1 calendar. This analysis uncovered 3 core segments and identified communication challenges and barriers to address.

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Action

These segments and communication tenets were defined as the following: 

• Affinity - Non-F1 Passion Points and how to authentically incorporate them into premium F1 Hospitality Experiences and Packages
• Luxury - How do they engage with Luxury and make purchase decisions, informing how F1 should highlight specific amenities
• Positioning - How to describe Hospitality Experiences and Packages in ways that will resonate with key audiences

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Result

Using a combination of 1st and 3rd Party Data, EPIC conducted segmentation on more than 23 million prospective Paddock Club buyers globally to uncover five key consumer segments. For each segment, F1 was armed with a playbook of near and long-term recommendations to create Paddock Club products that would resonate with each segment, how to message them, and specific message strategies.