There is much that seems in flux with the Nationwide Series. How many full-time Sprint Cup drivers will be allowed to participate in NASCAR’s second-tier series next year? Would they be allowed to earn as many points? Would a new championship format put more focus on teams without Cup drivers? But for the insurance company that claims top billing, the picture is clear: Nationwide’s bottom line in NASCAR is booming. Heading into one of the biggest races (a Montreal crowd of more than 60,000 is expected for the fourth consecutive year Sunday), the circuit’s title sponsor says it’s exceeding expectations in the third season of a seven-year deal. “We thought it could be break even by the end of Year 3,” says Jim Lyski, Nationwide’s chief marketing officer. “We’ve been very happy because we’re already at break even and turning this into a strong return. We have very high hopes.” After Anheuser-Busch’s 25-year run, Nationwide took over the series’ entitlement in 2008. Among its positive results with NASCAR fans:
• The company has seen consumer awareness increase by more than 50%.
• Qualified leads last year were 183% above the goal and are projected to double this year. Policies purchased by NASCAR fans also are ahead of goals.
• The company also has profited from business-to-business relationships, adding 19 teams, two suppliers and two tracks last year and eight more teams and companies this year
Lyski says Nationwide expected fans’ loyalty but was surprised “they’re a higher-value consumer. They tend to buy more than one product. They tend to be more responsible, meaning less claims. Those things are huge profit drivers for an insurance company.” Nationwide is being consulted by NASCAR as it considers competition changes to make it “more our version of college football,” as NASCAR Chairman Brian France said last month. Since the trend of running NASCAR’s top two series full time became prevalent, Cup drivers have won the past four Nationwide titles. Lyski, though, likes Cup drivers competing in Nationwide, saying it helps ESPN’s ratings, particularly through feuds such as the one Brad Keselowski and Carl Edwards are engaged in. “We think that’s good,” he says. “Having Cup drivers competing in Nationwide sparks the fan interest.”(USA Today)(8-27-2010)
