Drag Illustrated Issue 141, February 2019 | Page 24

Dirt Taking Care of Business How Alex Laughlin thinks outside the box with his sponsorship efforts By Josh Hachat corporations need commercial insurance and it’s been a huge deal for me.” Laughlin’s B2B work is the big- gest part of his sponsorship plan, and it’s an area that is constantly changing and he’s consistently searching for new ideas. Work- ing with Advance Auto Parts, he was able to get Hot Wheels Car Care’s spray wax in their stores worldwide, which is another example of how Laughlin has gotten creative to maximize all of his partnerships. Presenting considerable ROI for a partner makes a major difference in not only estab- lishing relationships but also extending them. “It’s definitely the biggest deal,” Laughlin insists. “When you go to somebody, you don’t want them to believe you just want their money. The whole idea is for them to make money as well. It’s a huge aspect. One of the things I do like about the insurance deal (with Gallagher) is I get a commis- sion, so my sponsorship is through that and it’s a complete profit right from the start for them.” Melding those B2B relationships is a constant work in progress, but Laughlin’s ability to do things differently has been noticeable. At the PRI Show, he held a private sponsorship summit, allowing different sponsors – including Gallagher – to merge together and talk. While Laughlin put thousands of dollars into the event and stepped out on a huge limb, it turned into a huge success and represented another outside-the-box way to attract new sponsors and relationships. “It was the most far-fetched thing I’ve done and I really stuck my neck out there, but it re- ally worked out good and I got great feedback on it,” Laughlin says. “I was able to put together a couple deals just from that event. Plus, there were a lot of people mingling and striking up deals between themselves and they’re always go- ing to remember where that took place, so that’s a connection as well.” It’s another way Laughlin can get his foot in the door, which can be extremely difficult in the fickle world of drag racing sponsorship. But Laughlin maintains that doing every little thing is important, which is why he maintains a clean, presentable image on social media and he isn’t afraid to direct message potential sponsors on those platforms as well. “Whoever is managing those pages is in marketing and it’s going to be close to the right source, and lot of times I’ve actu- ally gotten through to the right person,” Laughlin reveals. From there, Laughlin is ready with a plan, down to well-designed and thorough marketing decks he puts together himself. Laughlin doesn’t consider himself a great sales- man, but he’s also not worried if he hears “no” from a potential sponsor. It doesn’t affect his mindset or his ability to sell himself to the next company. But that next opportunity is always on his mind, even if it’s in the staging lanes and he just went down the track in his Pro Stock car. Laughlin learned from his first experience in Pro Stock that nothing was going to come easy when it came to sponsorships, but from that he’s found a passion to do things differently and successfully. “Every single time after qualifying I still go up to watch the other pro classes and I want to meet somebody new every time,” Laughlin says. “I’ve been able to meet a whole lot of new people that way. It’s all about who you know and how you can start relationships. You have to be creative and you have to think outside the box. I’m still learning, but my wheels are always turning and I’m always trying to think of new, creative ways to work with someone.” DI DI DI DI DI DI DI 24 | D r a g I l l u s t r a t e d | DragIllustrated.com DI DI DI Issue 141 A lex Laughlin got his first lesson in the hard-knock life of drag racing sponsorships when he landed his first Pro Stock ride. When a big-money partner didn’t come right behind it, well, that was the lesson. “We came out with a brand-new Pro Stock car and I’m thinking this is huge news, it’s going to be huge. People are going to want to throw money at it. It’s going to be killer,” Laughlin says. “I was absolutely wrong with that. Even at the highest level, it’s still unbelievably difficult to get sponsors.” Laughlin found that out immediately, but it also paved the way for the young multi-talent- ed driver to reinvent his process. Instead of waiting for blue-chip companies to knock on his door with briefcases filled with cash, Laugh- lin has taken a proactive approach to seek them out. He’s landed major deals like Hot Wheels Car Care and Advance Auto Parts, staying aggressive with his approach but also maintaining a strong image that big companies would want. That includes his social media presentation, mar- keting presentation – me- dia decks, e-mail etiquette chief among that – and an ability to present ROI for potential sponsors. It also means Laughlin’s full- time job has turned into being a businessman to fuel his passion for racing. “I didn’t go to school for any of this and social media wasn’t as big when I started, so I had to be self-taught and learn as I go,” Laughlin says. “I do all the work myself and I have to be so much more than a race car driver. I love to race, but I’m actually more of a business person than a race car.” Where Laughlin has thrived is being creative and thinking outside the box, and that’s been evident in his business-to-business (B2B) success with his sponsors. His biggest success there has been with Gal- lagher, a commercial insurance company. The industry giant had more than $6 billion in rev- enue in 2018 and has nearly 30,000 employees, and it’s been a key partnership for Laughlin. He connects Gallagher to sponsors he already has and when they close a deal the size of Advance, it makes for a significant windfall for Laughlin. “It’s worked out really well,” Laughlin says. “These