Rokt CEO Bruce Buchanan Says the Firm’s Oracle Red Bull Racing Sponsorship Enhances the Rokt Global Brand

Growing a high-profile brand requires thorough knowledge of the market and the company’s offerings. A careful branding strategy, enhanced by a well-crafted marketing campaign, are important pieces of the puzzle.

That said, Rokt Chief Executive Officer (or CEO) Bruce Buchanan says the right brand partnership can offer significant benefits. Here, the global ecommerce technology leader highlights Rokt’s high-energy sponsorship of the F1 Oracle Red Bull Racing Team.

Key Benefits of Successful Brand Partnerships

Selecting an optimal brand partner can help propel a company’s marketing campaign to the next level. Two complementary brands can share marketing resources along with team members’ knowledge and skills. Rokt CEO Bruce Buchanan discusses two advantages of a mutually beneficial brand partnership.

Enhanced Brand Reputation

When two well-regarded brands team up, both companies’ brands will likely enjoy added credibility and trust. Customers satisfied with their current brand will probably be receptive to the other brand’s product or service offerings. In the B2B arena, Rokt’s ecommerce technology clients will likely appreciate Red Bull Racing’s similar emphasis on excellence and achievement.

Increased Audience Reach

When two reputable brands establish a partnership, both brands automatically increase their audience reach and market visibility. This opens the door to new marketing opportunities and media exposure. And in the social media age, a powerful brand partnership can create favorable online chatter that can take on a life of its own.

How the Rokt-Oracle-Red Bull Racing Partnership Took Shape

New York City-based Rokt is one of the globe’s leading ecommerce technology companies. The rapidly growing firm has an increasingly recognizable brand in the expansive B2B marketplace, serving clients from diverse industries.

From this perspective, Rokt CEO Bruce Buchanan recently searched for a unique way to strengthen the Rokt global brand. He also addressed the firm’s priorities in selecting the right brand partner.

“We’ve been growing about 40 percent every year. Next [year], we’ll have over $800 million in revenue. We wanted a position in the marketplace where we wanted a partner that was going to serve us well from B2B. [We wanted a partner] who we could connect with clients at that level, in the C-level suite where we do a lot of the relationships. How can we create connections?” Bruce Buchanan asked.

Opportunities, Recruitment, and Investment

“Our business is about creating opportunities for the different businesses to work with each other. That’s how we really flourish. We also wanted a business that would be good for recruiting the brand. [The business would also be] good for potential investors when we get to the IPO. How can we get traction there?” Bruce Buchanan mused.

Global Market Coverage and Brand Compatibility

“We wanted something that was global so it covered the markets that we’re in. [We also] wanted something that was a good brand fit. We went through all of that. There were very few things that ticked all those boxes.

F1 Racing Checks Multiple Boxes

“But F1 came up as something that was strong in all of our markets [and was] very strong among the audience we want to talk to. [Finally, F1] has a billion people following [the sport] around the world,” Bruce Buchanan concludes.

F1 Racing Offers Two High-Octane Sponsorship Advantages

In the global sporting arena, few sports can match Formula 1 racing’s audience reach. These high-energy Grand Prix races collectively reach a billion fans worldwide. Each talented F1 driver has a dedicated following that translates into media coverage and social media popularity. Not surprisingly, F1 team sponsors also garner their share of the publicity. Taken together, these attributes translate into two clear-cut sponsorship advantages.

Sponsorships Offer Sought-After Brand Exposure

Adrenaline-fueled F1 racing has long reflected the innovation associated with teams and drivers at the top of their games. Not surprisingly, high-profile companies often jump at the chance to get on the F1 sponsorship bandwagon. Although deep pockets are a requirement, sponsors taking the long view may feel the exposure justifies the investment.

The sleek, aggressively designed F1 race cars are ideal for showcasing sponsor logos (including Rokt’s distinctive brand). Well-coordinated team apparel, trackside graphics, and slick-looking digital campaigns offer numerous opportunities for the sponsor’s brand exposure. Carefully orchestrated photos can portray sponsor executives as integral to the team’s viability.

Sponsorships Often Spur Collaborations and Business Opportunities

F1 racing sponsors have a high-visibility platform on which they can cultivate B2B relationships (or maintain existing ones). The colorful, high-energy F1 team backdrop can be an ideal setting for meeting high-level decision makers and prospective clients. These productive exchanges can help facilitate collaborative partnerships and other business opportunities.

Why B2B Brands Sponsor F1 Teams

Formula 1 racing is a rapidly growing sport that attracts a billion fans across the globe. Despite this appeal to individual sports lovers, however, nearly half of F1 racing’s official sponsors are B2B brands.

For perspective, the F1 2022 race season featured 299 brand partnerships, with 135 collaborations integrating B2B brands. 19 other partnerships involved brands that focus on both the B2C and B2B markets. Rokt’s Bruce Buchanan highlights two factors behind this intriguing development.

The F1 Rebrand That Attracts Younger Audiences

Formula 1 racing is a decades-old sport that has always had a loyal following. During recent years, however, this high-energy sport has benefited from a complete rebrand to attract younger audiences. A marketing campaign that includes dynamic graphics, digital platforms, and a strong social media component is getting results. The most recent global viewership figures continue on an upward trajectory.

Ongoing B2B Networking Opportunities

Company owners and executives often seek intriguing venues in which to meet and/or entertain B2B clients. Formula 1’s undeniable cachet makes the competition’s ‘Paddock Club’ the ideal place to interact with high-level guests.

While an F1 team prepares their car for an upcoming race, sponsors and their guests can mingle with team owners and drivers. Chatting with other sponsors can unlock sales, collaborative, and/or partnership opportunities.

Bruce Buchanan Offers Tips for Selecting a Brand Partner

As with any business partnership, finding the right partner is key. Here, Rokt CEO Bruce Buchanan offers two tips for making an optimal choice.

Agree on the Partnership Objectives

Both brands should agree on the partnership’s foundational goals along with the parameters for success. To illustrate, Bruce Buchanan’s Rokt team identified the company’s F1 racing team sponsorship criteria. In their view, Red Bull Racing met every requirement.

For its part, Team Principal Christian Horner’s team likely evaluated Rokt’s sponsorship proposal. The team sought a sponsor that reflected Red Bull Racing’s commitment to excellence. With both companies on the same page, the stage is set for beneficial collaborations.

Ensure the Right Brand Fit

Most importantly, both brands’ ethos and core values should possess clear similarities. To illustrate, Rokt CEO Bruce Buchanan and Red Bull Racing’s Christian Horner both believe people are an organization’s biggest asset.

Rokt prioritizes a people-focused company culture while Red Bull Racing empowers team members to thrive on their own. Both organizations focus on delivering excellence in every aspect of operations.

The Rokt-Oracle-Red Bull Racing Partnership Is a “Win-Win”

As ecommerce technology firm Rokt continues its impressive growth, CEO Bruce Buchanan embraces opportunities to grow the Rokt brand. He is confident that the company’s Oracle-Red Bull Racing partnership provides “win-win” exposure for both high-growth partners.