As a long term strategy, Innoson should invest in Motorsports in Nigeria.

The last time the brand name Innoson Motors made rounds in Nigeria was when Twitter user Osuolale Farouq created a new brand identity for the car manufacturer. As a brand, you want to be recognised and remembered for the right reasons. Innoson can guarantee that by investing in Motorsports as a long term brand promotion strategy. Motorsports in Nigeria needs a hero, and Innoson Motors fit.

There are a number of ways Innoson Motors can invest in Motorsports - a race track or circuit , a racing series, a racing team; or a combination of all three options. The current Motorsports landscape in Nigeria involves just one race track - MotorSport Raceway, Evbuobanosa (MRE) where the only racing series - the annual Road X Championship - takes place featuring racing teams such as Fastlane Motorsports, Throttle Heads Racing, Outdoor Racing, African Elephant Racing etc.

The MRE is a 2.3km long track located on the Benin-Asaba expressway. The facility contains a tyre centre, fuel centre with self-service pumps, garages, gift shops etc. Regardless, anyone that has visited the facility can attest that it needs major improvements to make it a world class track, and a tourist and entertainment centre. These improvements include extension of the width of the track, building of grandstands etc. Innoson can enter an equity partnership or sponsorship deal with the owners. Being, a private facility, this should not be impossible to negotiate.

Similar to Formula Ford, Formula Renault etc., Innoson can also invest in a racing series by creating a new one or invest in an existing one. Although the former will give the company control and regulatory responsibilities, it is more expensive. The Road X Series which is organised and regulated by MRE is a platform Innoson can be a part of. The company can explore options like naming rights, exclusive parts provider, title sponsors etc. The company can also enter a joint ownership agreement with MRE and expand the series beyond Nigeria.

A third option is for Innoson is to set up a racing team similar to the Mercedes-AMG Petronas Team, to participate in the existing races. This could be a platform for the company to present and promote new vehicle features, its brands, new technology etc. There are race categories for saloon cars, and trucks can also participate in 4x4 rallies. The racing arm of the company can also provide services and parts (tyres, body work) for other racing teams.

An interesting areas that the company can also invest in is Karting. Innoson can build indoor karting leisure centres, establish karting competitions among primary and junior secondary school students, or manufacture kart accessories. That is a long term strategy to expose the brand to young kids and by extension, their parents. Many young adults in Nigeria remember Peugeot 504 and 505 models from their parents.

The barriers to enter the Motorsport space in the country are low, and once Innoson invests, it becomes easier for other key partners (such as Prudent Energy/Forte Oil) to come in. While marketing activities are usually geared towards direct sales, some are for long term purposes including legacy and brand development. Innoson’s investment in motor sports might not translate to immediate sales of cars, trucks and other products, but it will help differentiate the brand and lay a foundation for a great legacy.