Continuing education is just one component of the PRI Show. Our PRI Education program offers advice and tips that can quickly be implemented, beginning with these highlights focused on improving business starting today.

“Never stop learning” is an often-cited mantra by successful leaders who value education and the ability to learn new concepts, techniques, or theories. Education goes far beyond K–12, and even college or tech school training. PRI acknowledges the value of continuing education, which is why the PRI Education program is a core component of the PRI Show. Each year’s PRI Education program is carefully crafted to allow thought leaders and technology innovators in the motorsports industry to share their knowledge, which allows PRI Show attendees to leave Indianapolis with valuable tools to ignite sales, improve performance in marketing and promotion, or just implement new methods of conducting business.

The following is a summary of just some of the quality information about how to operate a business that was shared as part of PRI Education, which you can promptly start using in your organization.

Marketing Strategies for Today

The importance of digital media, and more specifically social media, cannot be understated for the motorsports industry overall, and more specifically to drivers, teams, race tracks, and more. In fact, any PRI Education seminar that focuses on the digital world fills the Indiana Convention Center meeting rooms.

Digital marketing includes social media, along with other promotional avenues, and Bryan Robb of Digital Throttle in Incline Village, Nevada, shared the lessons he learned over several decades in the automotive and motorsports industries in “Digital Marketing: Lessons Learned.”

To understand how relevant social media is in today’s digital-centered world, Robb provided a breakdown of US users per platform. Facebook currently has 256 million, YouTube has 239 million, TikTok 150 million, Instagram 143 million, SnapChat 109 million, X/Twitter consists of 99 million, Pinterest has 85 million, and Reddit has 26 million. Of those numbers, 56% of YouTube users are between the ages of 18–44, half of all TikTok users are ages 24 and under, 62% of Instagram followers are between the ages of 18–34, and 59% of those on SnapChat are 24 or younger.

Why is digital media so important? Robb shared some startling statistics: The average time spent per day by US adults on digital media was estimated at 7 hours and 34 minutes in 2023! Traditional media garnered only 4 hours and 53 minutes. And the digital timeline is only charting upward.

That pocket computer called a “cell phone” is truly valuable where digital ads are concerned, as 64% of them are seen on a mobile device. In addition, approximately 80% of digital ads are clicked from a mobile device.

When determining what content to include in social media posts, Robb provided a “good, better, best” example. In the “good” category are product shots, customer vehicles, and contact information. “Better” includes lifestyle images/posts, Events/Recent Stories, and one to two posts per week. Actively posting, videos, and creating community fill in the “best” category.

For online searches, Robb reported that 88% of users choose Google as their preferred search engine, though don’t overlook the importance of Bing, which makes up 12%. Under the topic of “Learned Google Search,” he advised using all the free search ad elements available, which includes validating the company to show the logo, name, and the customer service phone number. Also include callouts with information, images, and site links.

Another lesson learned that he shared is free social posting is not advertising. Six percent of your followers will see your organic posts. He added that “boosting” a post is not always beneficial because of imprecise targeting and inaccurate reporting, and it can be expensive.

Finally, once social ads are posted, don’t click and forget. Be sure to monitor the questions and comments in the ads you run.

Alex Striler, marketing and sponsorship expert, and founder and host of SponsorshipSummits.com, returned to the PRI Show to present “Using Social Media and Technology to Create Value for Sponsors.” He was joined by Megan Meyer, founder of MotorsportsMarketingTips.com, and Cole Striler, a software engineer who specializes in data science, AI, and workflow analysis.

When choosing which social media platforms to be on, the team recommended being “selective where you post content and who you are trying to reach.” Consider the different ages of your audience, their interests, and uses. Ask yourself the following questions: What is the key to being memorable and valuable when using social media? If everyone is on social media, how can you stand out?

A self-proclaimed “social media Grinch,” Kyle Estes of KRT in Rosemount, Minnesota, found the social media seminars helpful. “It was pretty clear to me that in order to do what you want to do on the marketing side that you have to be active on social media.” As a result, he planned to expand into the digital marketing platform upon returning home.

Branding

Another component of marketing is branding. Ben Porter of Redline Ace in Speedway, Indiana, shared tips he’s learned over 23-plus years of his graphic design career, with a focus on logo and brand design. Branding, he explained, is based on a consistent theme made up of a company’s name, logo, visual identity, mission, values, and tone of voice. The goals of a successful logo are an invitation to interact with your brand, a symbol that customers can easily recall, how to separate your brand from your competitors’, how to command respect and set precedence, and how to foster brand loyalty.

When designing or refreshing a logo, several design provider options are available. Choosing to do it yourself may be appealing pricewise, but does it deliver the uniqueness or quality that you desire? Copy and pasting is another option to mimic what others have done, which is fast and cheap, but isn’t unique and may not offer the quality that is desired. AI was a topic in several seminars at the PRI Show, and this technology is now available to design a brand. While it can definitely be fast, cheap, and even offer a higher quality than the other two methods, is it unique? Finally, a professional designer can work with a customer to deliver that unique and high-quality logo, but the professional service does come at a higher cost and takes longer. When considering using professional services, review that expert’s portfolio for examples of what has been delivered to other customers. Seeing that high-end result can easily sway someone to see the value of choosing a professional designer.

When designing a logo, Porter offered advice to those who are already working with clients. First, he recommended evaluating the individual (such as a driver) or a business. Next, research the industry, and then find out where the logo will be used. Sketch a variety of logo concepts and develop an initial set of proofs for the client. Finally, refine the designs with feedback and deliver the final logo files to the customer.

Yazz Maye and Charles Demmings of MassAppealDMV in Upper Marlboro, Maryland, attended the “Graphic Design and Branding” seminar. Maye noted that a helpful tip she picked up from the seminar was don’t give clients too many options at once when designing a logo. “Break it down, simplify it, bring it step by step. Don’t bring in colors, specifically, don’t bring in color until the end of the design. It’s so simple and it makes sense. Why didn’t I think about it sooner?” she asked, laughing.

“But you are so focused on giving the customer immediate gratification, especially with social media in this day and age, everyone wants something yesterday. Not even now, but yesterday,” she added. That one little step seems like it would drag the process on, but it actually makes it that much faster because it allows them to make that decision quicker and move forward. That was invaluable.”

In the Trenches

Sometimes business owners get lost with ideas of grandeur and think they need to go in myriad directions to be successful. Tom Shay of Profits Plus Solutions in Dardanelle, Arkansas, discussed why getting back to the basics is often needed to course correct in “Why A Business Plan Can Make You More Money.”

A business plan is a common requirement to obtain a small business loan at a local bank. Sure, it’s needed for that, but it can also serve as a guide to where you want to take your business in the next year, three years, five years, and longer. A benefit of a business plan is that it is not static. This document can be updated to address changing market conditions, new or different goals, or when new product lines or services are added.

Shay outlined the basis of a business plan, which includes a cover page; table of contents; series of introductory statements; vision statement, such as what your business looks like in three to five years, or the length of the loan you are requesting; where your company is going; company’s mission statement; statement of purpose, which is who you are, what you are going to do, what you want with regard to funding; and concluding with an executive summary, which Shay referred to as the “CliffsNotes” page of your business plan.

While a business plan may be a basic tool for a company, Krista Lamb of DeatschWerks in Oklahoma City, Oklahoma, discussed a more advanced option in “ERP Selection and Implementation Doesn’t Have to be Disruptive.” In this seminar, she provided an overview of ERP, or enterprise resource planning. ERP refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, and supply chain operations.

Lamb shared her personal experience with going through this process and freely shared what worked and what didn’t. To begin the process, she visited every staff member at DeatschWerks and asked them to list their job duties. After 90 days, she returned to each person and asked if they forgot anything, followed by what they liked about the current processes in place as well as what they didn’t like.

If your organization is considering implementing ERP software, she provided a path to selection. Step one is to gather information. Interview your organization’s leaders and employees in all areas of your business, as noted above. Step two is to understand flow. Outline how various business processes flow through your organization. Step three is to define the requirements. Develop and rank a set of requirements for each of your business areas. Step four is to conduct market research. Research the ERP marketplace and determine an initial list of solutions. Request information is step five. Develop and publish your Request for Information (RFI), then evaluate the responses. Pruning makes up step six. Narrow the list of options to solutions that best fit your requirements. Step seven is to find solution demos. Schedule onsite demonstrations, evaluate participants, and further narrow down your options. Request proposals is step eight. Request and evaluate proposals from the top software vendors on your list. Step nine is references and visits. Check references from your proposal requests and conduct onsite visits. Finally, selection is step 10. Select the final solution and negotiate the terms of your agreement.

Her last piece of advice is to avoid business disruption by not getting ahead of the process. Provide training until the subject matter experts are confident. Test everything multiple times, then identify and support an internal project owner for implementation.

To watch these and all of the PRI Education seminars from the 2023 PRI Show, visit PRI’s YouTube page at youtube.com/user/pritradeshow.