Steve Phelps, president of NASCAR, supplied a considerate and candid keynote on April 19 to a standing-room-only viewers in Turner Theatre, kicking off the fourth annual Sport Management Symposium.

As the pinnacle of probably the most common sports activities sanctioning and working corporations on the planet, Phelps initiated a dialog across the occasion’s theme, “Sport Sponsorship and Branding in the Digital Age,” discussing how sponsorships, advertising and branding have modified and can proceed to evolve in immediately’s market.

Phelps supplied his distinctive perspective to a crowd of greater than 200 people – the bulk hailing from the Sport Management Department – detailing the strengths and areas of progress for NASCAR. In current years, Phelps has been credited for being on the “forefront of stock car racing’s turnaround,” serving to introduce the Next Gen automotive, one of many sanctioning physique’s most bold initiatives.

For pictures of the symposium, go to our Flickr album.

“Since 2019, we have known nothing but growth,” Phelps mentioned, delving into the group’s success in sponsorships, income and viewership. And he known as 2020 NASCAR’s “most important year” since its 1948 founding as the corporate confronted the challenges introduced on by the COVID-19 pandemic, in addition to its notable resolution to ban the Confederate flag at its occasions.

The banishment of the flag, in keeping with Phelps, was an unpopular alternative amongst some sections of its fanbase. But it was a call Phelps is immensely happy with, particularly having gauged the ideas, emotions and insights of minorities who work for the group. These workers shared a putting reality that they usually needed to “defend why I have to work at a racist company,” Phelps recalled.

Ultimately, the choice amongst Phelps’ administration was unanimous – abandon the Stars & Bars flag.

“We need to look like the rest of America,” he mentioned. “For those who said, ‘We are not the NASCAR they knew.’ No, this is who we are.”

“If they (those in favor of the flag) don’t want to participate in our sport, where everyone is welcome, then don’t participate,” he added.

As a part of his wide-reaching dialog with Assistant Professor Bill Squadron, Phelps touched on a slew of matters going through his firm in addition to the auto racing business. He identified NASCAR has an inherent “advantage” over different sports activities, particularly ball-and-stick sports activities, as a result of NASCAR followers perceive the worth and return of sponsorships.

“Our fans understand that sponsorships help (the teams) make the car go faster,” he mentioned. It is probably going that an MLB or NFL fan won’t see the connection be sponsorships and the on-the-field product.

“Sponsorships are the lifeblood of our sport,” he added later.

Phelps addressed methods NASCAR has efficiently positioned itself in recent times, most notably with its Next Gen car, which has helped produce “the best racing we have ever had in the sport,” he mentioned.

NASCAR has additionally leveraged partnerships with sports activities betting corporations, various its race schedule, including its first highway race, and seemed to develop its attain by way of tv programming.

“Motor sports were in a bad spot in 2018,” Phelps admitted, however he has been happy with the expansion seen from his firm, in addition to opponents like Formula 1. He acknowledged that Netflix’s “Formula 1: Drive to Survive” was an enormous figuring out issue within the worldwide group’s success stateside.

But Phelps additionally famous that NASCAR nonetheless instructions 80 p.c of all motor sports activities viewing within the United States.

Following Phelps’ keynote, the symposium shifted to panel discussions, starting with the “Technology and Social Media: New Paths for Sport Sponsorship” panel, moderated by Assistant Professor Mark Cryan.

During the 45-minute dialog, 4 advertising professionals – three of that are Elon alumni – examined the way forward for sponsorships and new avenues and developments within the sport business. Panelists included Chris Bayly ’08, founding father of Winstate Sports & Entertainment, Jake Horowitz, senior account supervisor at 160over90, Lauren (Hoffmann) Street ’03, senior director of selling and enterprise operations for Richard Childress Racing, and Kara Wagner ’16, G’17, supervisor of digital expertise for the Baltimore Orioles.

Bayly leads Winstate, an impartial consulting company that payments itself as embracing “the challenger mindset,” specializing in innovation and fixing buyer issues. Each of the 4 panelists mentioned approaches they really feel are modern and what excites them for the longer term – in addition to what platforms are nonetheless necessary.

“Analytics drives our entire organization,” Wagner mentioned, noting that e-mail advertising remains to be a key driver for ticket gross sales for her MLB franchise.

Bayly talked about that he’s most excited by the potential he sees in streaming companies similar to Hulu and Netflix, in addition to podcasts.

Horowitz admitted that sponsorships aren’t nearly followers and prospects, noting they are often an excuse to satisfy and community with different CEOs and companies, which might result in larger monetary alternatives.

Lastly, Jon Seaton ’23, a defensive lineman for the Phoenix soccer crew, and Ericka Link ’24, a member of the Elon volleyball crew, had been the featured panelists for a dialogue titled “The New World of NIL and College Athletes as Brands.” The two student-athletes have efficiently leveraged their title, picture, and likeness (NIL) rights and are members of the WWE NIL “Next in Line” program. Assistant Professor Khirey Walker moderated the athletes’ dialog.

With two million followers on his platforms, Seaton is a visual presence on-line, however he’s selective along with his partnerships. He estimated he has obtained greater than 300 gives to collaborate however has dedicated to only 18 partnership offers.

While there are actually advantages to his recognition, Seaton identified that being a content material creator could be tough work. He’s created between 1,300 and 1,400 items of content material and admitted his position can really feel like a grind.

“Nobody sees the consistent level of work,” he mentioned.

When requested by a fellow scholar how they’ll set up a social media presence, Seaton reasoned that the content material have to be genuine.

“We all start with zero followers,” Seaton mentioned. “It needs be true to you. You have enjoy making the content and have fun with it.”