Company: NASCAR, New York, NY
Company Description: The National Association for Stock Car Auto Racing, Inc. (NASCAR) is the sanctioning body for one of North America's premier sports. NASCAR is the No. 1 spectator sport – holding 17 of the top 20 highest attended sporting events in the U.S., and is the No. 2 rated regular-season sport on television. NASCAR races are broadcast in more than 150 countries and in more than 30 languages.
Nomination Category: Live Event Awards Categories
Nomination Sub Category: Best Association Event or Meeting

Nomination Title: NASCAR Fuel for Business

The date on which this nominated production was first presented:
Q1 2005

Briefly describe the nominated event's objectives and how it met those objectives (up to 525 words):

NASCAR Fuel for Business Council is an asset exclusive for Official NASCAR Partners and Industry Members. The council meets quarterly throughout the season focusing on fostering business partnerships among members. The goal to  engage; share best practices & insights, and sell/buy goods and services among Official NASCAR Partners.  The NASCAR Fuel for Business Council bring together an exclusive group of more than 55 Official NASCAR Partners to get more out of their sponsorships, specifically aligning partners  to buy and sell products and services. This environment offers the unique opportunity for many Fortune 500 companies to bypass the time and layers of corporate coordination that may exist and construct customized deals to help address specific business needs.

Since its founding, the NASCAR Fuel for Business Council has facilitated millions of dollars in annual revenue and savings delivering measureable ROI. Members are committed to work with other council members at each meeting to identify potential business - to - business opportunities.  Efforts are made for both buying and selling product as well as to identify promotional and marketing alliances. At the NASCAR Fuel for Business Council meetings, members are constantly building relationships while strengthening the community of NASCAR Official Partners making NASCAR the leader in B2B partnerships within the sports industry.

The meeting format consists of the following:

- Attendees (Motorsports Marketing (1), Sales (1), Procurement (1)
- Four (4) Council meetings per year, each meeting consists of a full day that includes: 2-3 Council members present their B2B objectives and the reciprocal benefits they can provide other members, NASCAR Guest speakers and Speed Meetings.

The NASCAR Fuel for Business Council has been successful due to the member commitment to the mission statement. Partners participate on a regular basis and ensure the right people are in the room. NASCAR ensures accountability for members to follow up and share success.

NASCAR has also added an additional component to the Council on an annual basis – the Driving Business Award. This award honors the Council Member/Company that has demonstrated leadership and success throughout the year. In addition there are quantifiable results of the winner selling a product or service to another council member.

For example, Ford has been a successful NASCAR Fuel for Business Council member and two time winner of the Driving Business Award with their efforts to sell vehicles to other NASCAR Fuel for Business members. In 2012, Ford sold more than 5,500 vehicles through their Partner Recognition Program with one of its largest vehicle sales deals being worth more than $5 million. 

Another successful NASCAR Fuel for Business Council Member has been UPS by building new relationships and accounts with council members such as Nationwide, Creative Recycling and NASCAR Racing Experience.

The NASCAR Fuel for Business Council has been highlighted on CNBC, Fox Business News, Forbes, Wall Street Journal, USA Today and other media because of the power of this platform and product. According to Mark Yost, author and contributor for The Wall Street Journal, called the NASCAR Fuel for Business Council “ One of the best assets in professional sports”.

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Producer: Norris Scott and Matt Shulman
Designer: Kyra Safronoff