How Formula 1 built a business strategy around digital that helps them in a time of crisis.
This edition of PENSO PERSPECTIVE aims to inspire your organisation to act using digital strategy and content to survive the COVID crisis. Following the $8 billion sale of Formula 1 to US-listed Liberty Media in 2017, Formula 1 embarked on a business strategy of digital transformation. This strategy has largely revolved around an advanced digital content and channel strategy, building reach.
In the following video, PENSO dives into Formula 1’s business and digital strategy. The video identifies Formula 1’s business model, the change in philosophy from Liberty Media and the success of four digital pillars that were introduced to grow its global audience. Specifically, this video covers:
- The Business Model of Formula 1
- The History of Ownership (and the subsequent strategies from each period)
- The Current Digital Strategy of F1
- The Key Pillars of The Digital Strategy – Approach, Digital Content, Digital Channels.
- The implications and success of implementing each of these pillars
- Why F1 is set up to overcome COVID thanks to its digital infrastructure.
Every week, PENSO conducts Lunch and Learn workshops. These are focused on businesses that create visionary digital strategy and user experiences to make sales today and build their businesses of tomorrow.This PENSO “Lunch and Learn” gives you insights into how your business might grow using digital strategy, especially in the COVID era.
If you are interested in developing a digital strategy / digital transformation / content strategy / website build, contact PENSO.
PENSO delivers the following services to build your business for tomorrow:
- Business Model Innovation & Service Design
- Digital Marketing Strategy
- User-Centred Digital Transformation
- Digital Effectiveness and Analytics
- Digital Capabilities Development
- User Experience
- Digital Design
- Content Strategy
- Contact and Customer Journey Planning
- Marketing Automation
- Customer Data Planning