Activating & educating F1 fans with Sarah Dale, Binance

This transcript has been transcribed by Riverside.fm, no edits (please excuse any errors)

Sean Callanan (00:02.222)
Very happy to welcome Sarah Dale. She's the head of global brand partnerships and entertainment at Binance. Sarah, welcome to the podcast.

Sarah Dale (00:09.851)
Hi, Sean, thanks for having me.

Sean Callanan (00:12.02)
Not a problem at all. What I always do in starting the podcast chat is I find out how people got their start in the world of sports. What about yourself? How did you find yourself in this, you know, sports sponsorship adjacent role?

Sarah Dale (00:26.577)
Yeah, so I've had an interesting journey, but I've been working in brain partnerships, sports and entertainment for about 20 years, not to age myself, but you know, I've always worked on the brand side, you know, helping brands really bring their strategies to life through partnerships and whether that was McDonald's or Molson Coors or T-Mobile or Pepsi or.

at Hard Rock, there's been a great portfolio of brands and I've worked with them as a marketer as well as a lawyer supporting their partnership. So it's been quite the journey.

Sean Callanan (00:57.08)
So that was the bit that was interesting when I looked at your background to sort of go, you know, marketing and then in the law space and obviously the, I mean, a big part of sponsorship is the contracts, right? It's like, we do all the, we do all the dance and then we've got to come down to the contracts. And that's sort of what was the piece was, that when obviously having that background is very advantageous being in sponsorship. did you just then find yourself wanting to be more in that brand side and working in that space?

Sarah Dale (01:23.227)
Well, it's really funny because I started on as a marketer on the marketing side and then went to law school and continued to focus on marketing law. And then ultimately was working on partnership deals, negotiations, contracting fulfillment. And then I did decide, Hey, I want to be back on that strategic brand side, building those partnerships, managing those partnerships. And so I've kind of come full circle, but there's not a day that I don't have my lawyer hat on.

You know, the skills are quite transferable. The reading, the writing, the negotiating, the analyzing, the evaluating, it's a lot of the same.

Sean Callanan (02:04.174)
But again, like you said, there's a lot of people in the sponsorship space that are either in pitch mode, either on the rights holder side or on the brand side that are trying to get what they want. And then sometimes then it gets handed over to lawyers. And so you at least have that multi skill to go, well, I know what the legal should be and what those clauses will be. So that must be a big advantage for you in the role now.

Sarah Dale (02:28.169)
Right. And I think that my legal team here at Binance and legal partners at other sides take full advantage of that. I mean, I would I'd like to think I make their lives a little bit easier.

Sean Callanan (02:40.344)
So your role nowde at Binance, explain what your role is and what your remit is there.

Sarah Dale (02:45.755)
Yeah, so as head of our global brand partnerships, I not only am responsible for our global partners, but for helping our regional teams and their regional partnerships. And we leverage our partners to help us grow awareness, no surprise, but really to grow credibility, to drive education, and ultimately adoption for the industry as well as finance. And so that's a really powerful tool for us.

Sean Callanan (03:08.992)
And from you again, coming from a from a sponsorship background was then you looking at, what are the properties? You know, obviously, we, you know, here, we talked about the world of sport, but sports and entertainment that fit for that awareness piece and that education piece for you.

Sarah Dale (03:24.783)
Right, right. So I think when we're looking for partners, we're looking for partners who share our user focused mentality, who are focused on their fans and consumers, and who really share a belief in the power of crypto and in the benefits of crypto. And so it's really important that we're aligning with.

strategic partners that can believe in us believe in our mission. And then ultimately, we're still looking for, you know, the region engagement. Do they have an audience that we would not be able to tap into otherwise? Right? Are there opportunities for us to have a mutual exchange of benefits? You know, can they help us drive growth, both from a brand and from a business perspective? And can we bring value to their organization and to their fans, whether that's through

loyalty programs, whether that's through digital ownership, whether that's through personal, know, insights into personal preferences. There's so many ways that exchange of mutual benefits and they have to be open to that as well. And last but not least, it has to be cost effective for us, right?

Sean Callanan (04:31.63)
Yep. I mean, that's the thing a lot with a lot of sponsorships, there is that, you know, that, that awareness piece, and that's, you know, there's ways to measure it, but it's a big, but then it's also that user acquisition piece to go, how do we onboard new people and sort of, and so is that how you're using sports partnerships and that at the moment to sort of educate those, you know, crypto curious, those people that are trying to figure out what they might do and go, you know,

have a better understanding of why they might enter the market and dip their toe in the space.

Sarah Dale (05:04.24)
100%, know, Binance is already, you know, the largest blockchain ecosystem in the world, right? So while awareness is great for us to continue to drive, we want to use our partnerships to drive that credibility and to drive that education. And so having, you know, partners that help deliver on that is super, super important.

Sean Callanan (05:28.846)
So we're recording this just to date the episode a week out or a bit over a week out from the kickoff of the Formula One season here in my hometown of Melbourne. I'm really looking forward to going. I've already got my tickets and you've got a partnership in the F1 space with BWT L-Pean. Why Formula One?

Sarah Dale (05:49.787)
So I think it's no surprise that there are some sports that have audiences that are presupposed to be open to the products and services that we provide. F1, football for example, right? So those fans are already interested in fintech, in investing, in trading, in emerging technologies, in gaming. And so those audiences are…

more likely than not to be crypto curious and be open minded and be interested in what we have to offer. And so that is an area that we are immediately drawn to. On the other hand, F1, similar to Binance, you know, relies on innovation, performance, speed. And so there are a lot of shared synergies when we think about brand DNA across both F1 and Binance that we can really lean into to create authentic stories.

that help us drive education credibility in a meaningful and entertaining way, hopefully.

Sean Callanan (06:53.9)
I mean, and we've seen I mean, partly credited to drive survive, but and but you know, the growth and the growth of F1 and how it has become a truly global property. And also, you know, further extension into into the US market with more, more races, was that something that the fact that it is become a, you know, global property, and it has this, you know, event mentality of, you know, we'll be in Melbourne and then

you know, then we'll be in Vegas and you know, we'll we'll we'll still do all the traditional tracks but you get that you get that bump in all these different markets. Is that something that you look to both activate regionally with your with your partners?

Sarah Dale (07:31.025)
You know, we really do, even though it is a global partnership, which is important for us because as a global company, like partners who transcend cultures, who transcend borders. So that is important to us. However, we really activate it at a regional level because we are drawn to…

regions and markets where there is a clear regulatory framework where use and adoption is really strong. And so we can fully optimize that partnership activation and those rights and assets and that we can maximize the return as a result.

Sean Callanan (08:05.804)
And then the other thing you're saying about getting a line values, it must have been really good when you started talking to Alpine to find out that, you one of their drivers Pierre, like you would call him back, you know, he's into crypto, he's a crypto native, and he, and you know, he's more than curious, he's in and he's, he's trying to figure out what he does, how to then, you know, as a marketer, and you're like, well, this is amazing, how can we, how can we do something with him, because he understands what I'm trying to do. And that education piece becomes a little bit easier.

Sarah Dale (08:33.967)
Yeah, it is not often even in my 20 years in partnerships where you find a true brand fan, right? And when you do, you really want to lean into that. And it helps that Pierre is so easy and great to work with. So not only is he invested in crypto, is he interested in crypto? Does he like to talk about crypto? But he's he's great to work with. And so we've leaned into that.

in the past with both content with myth busting, which was super fun to work with him on, as well as a helmet takeover, which we're bringing back in Melbourne. So we did it in Abu Dhabi at the end of, gosh, my years are a blur, at the end of 2023. And we're gonna bring it back for the start of the season. So in that campaign, we ran a contest for our users to be able to design his helmet in Abu Dhabi.

Sean Callanan (09:16.941)
Yeah.

Sarah Dale (09:28.409)
and again in Melbourne. And a team, including Pierre, selected the winning design, which comes to life literally on the track.

Sean Callanan (09:37.57)
And is that part of that is, one, we'll see the pictures of it and, know, hopefully see Pierre potentially, you know, on the podium, potentially in Melbourne with that, with that helmet. But it's also like not just a campaign for campaign sake, but it also starts allowing you to use, you know, crypto and blockchain and web three. Like that's a big part of like, you know, I've been to someone that's, you know, curious on the space and it's always what are the use cases? How do you do it? And that piece of how do you engage?

your users of your product across F1, is that the bit that's exciting to be able to go, hey, we're showing people actual use cases?

Sarah Dale (10:17.137)
100 % and I should take a step back for a minute and say that you know our marketing strategy is you know so user focused and we realize that the power of these blockchain and these web3 technologies help build that credibility and that trust in the industry as a whole and so our strategic partnerships from from my role are really important to that because we can build those use cases in a way that

you know, people can really kind of get their minds and their arms around beyond trading and investing, right? Because we want to start with that education and with that, you know, take them on that journey with, go on the journey with them. And so when we are bringing them, these fans closer to their favorite sports, to their favorite teams, to their favorite athletes, then ever before they're like, they start to realize, there is something here.

right? You know, and so we're building that awareness, that education, that loyalty, that interest. And this is a really great way to do it because who in the world would ever think that they would be able to design a an F1 helmet that is worn in a Grand Prix, you know, but you can because of finance.

Sean Callanan (11:13.613)
Yeah.

Sean Callanan (11:31.33)
And the and the piece you've been saying is one, you know, Binance is already a big company. And yes, brand awareness is great. But you're also sort of wanting to do it for the industry overall. And you know, crypto is coming out of crypto winter. And sort of people are like, you know, there's still that uncertainty for the people that might not understand the space. Does you feel that as a marketer that that education piece and that and that piece is even more important now and just sort of again,

you know, build that trust and credibility with Binance, but also the overall industry.

Sarah Dale (12:04.497)
Yeah, 100%. And to kind of put this into perspective, think, like you noted, crypto is really coming into a new era, right? Not only from a micro level, but from a macro level. And I think there has been an increase in regulation, institutional adoption. We're seeing more and more retail users. And so to kind of…

break that down into numbers. took Binance in particular, you five years to reach a hundred million users. Just two more years after that, we've already added another hundred million users. And in that next single year, we're well on our way to another hundred million users. So the pace of adoption is impressive, is on speed with other disruptors and innovative tech companies. And through

sports and entertainment, we can really support that in a more sustainable way through education and growing that adoption beyond the current pool of crypto users who are already obsessed, who already love crypto. You know, we need to to grow that if this is going to be a mainstream currency, right? And we're doing that through sports and entertainment.

Sean Callanan (13:11.574)
And so then one of the other, you know, one of the biggest names in sport is Cristiano Ronaldo. I mean, if you're going to shoot for the stars, you might as go for one of the biggest ones. What what know, one other than his gigantic social media and media presence, you know, he launches a YouTube channel and immediately Mr. Beast is on it. And immediately he's you know, Mr. Beast is worried about he's going to pass him like that's the

you know, the power of Christian Ronaldo, Ronaldo's social media presence. Why? Yeah, one, why Christian Ronaldo? And then what has it been like, you know, partnering with him on that journey of what you're trying to do?

Sarah Dale (13:51.697)
Um, it has been, he's great. Um, the partnership is great. Um, and so I think going back to our filters and how we approach partners, you know, he, he fits them 100%. Right. So he is extremely passionate and, um, concerned about not concerned, prioritizes his community and he's focused on his fan base and his fan base is quite large. And football is another area that.

we see audiences who over index in their love for or in their interest for fintech, for trading, for investing, for gaming, right? And so when we came together with Cristiano, there was a mutual interest in bringing benefits to his fans into leveraging his audience to educate them on the power of Web3, of on blockchain and to create meaningful engagement for them. And how we did that was through

his digital NFT collection, correct? But it's more than art. And I don't know if you've had time to look through it, but we've had five drops actually. those not only represent…

pivotal moments in his personal and professional life through the art. But they also come with these really great real benefits. And those real benefits are bringing his fans closer to him or closer to exclusive merchandise, games, training with him, celebrating with him, playing football with him. And so through those digital assets that his fans are purchasing or through being a user at Binance, they're able to meet

the greatest football player of all time. And we stand by that, that he is. So it's been a great experience working with him. He is so professional on and off the pitch and he gets so excited when he is with his fans that we get to bring him. It's quite heartwarming.

Sean Callanan (15:54.638)
mean, again, because of the, like, again, the scale and the enormity of his audience, like for him, you know, he announces he's doing something, it's automatically sold out. It's, you know, a shopping center shuts down, like that's what he you know, what he does. So, like that whole loyalty play, and it's something that, you know, we played in the space, you know, 10 years ago, we did an early digital loyalty piece, and assisted the 49ers in doing it, it has been something that sports has

you know, try to try to figure out, you know, how to both gamify and also, you know, gamify fandom to a certain degree. But then also, how do you make sure that the the fan with the most fandom or the fan that shows the most fandom actually gets access to to to that piece and not just, you know, yes, you can do it by paying the highest price. And that's why you get the ticket to the big event. But like, how do you identify some of those fans? And is that the piece that I guess

Cause I think, know, that early NFT was, hey, we're buying the art and the, you know, the numbers are going bananas and we're not quite sure what it is, but you think it is that time to the physical, the physical world, whether they be, you know, merch access or access to specific content or even, you know, the, the Holy grail of, you know, meeting or, you know, meeting them in person. You think that's been some of the tweaks that have happened from that, I guess what we'd maybe call NFT version one, where it was, you know,

people buying art and not quite knowing and very speculative.

Sarah Dale (17:25.957)
Right, right, exactly. And I would like to say that even from drop one for us, when NFTs were still in their heyday, we really did lean into that, that real benefit of bringing the fans to Cristiano. And so we always wanted this to be more than a digital asset. We always wanted to provide that real benefit so that we could lower the, know, kind of get more people interested, get more people involved and educate them. And to your point.

our collections have always provided a different dynamic to access to him. So whether it was purchasing or whether it was collecting and, you know, kind of building on your momentum to get closer to him, whether it was that exclusive content or whether it was the exclusive merchandise. So we've tried to create many ways and many utilities to provide greater access to. So it's not just someone who's willing to pay a lot of money for.

and NFT, right? In fact, some of the people that we brought to meet Cristiano haven't paid a thing. They've won, right? Or they've shown their loyalty through collecting over the course of many collections. they've taken a test on their fandom for Cristiano and they've won. So we really have tried to lower the barrier of entry and increase the exposure to Cristiano through these digital assets.

Sean Callanan (18:27.117)
Yep.

Sarah Dale (18:47.857)
So it starts with a digital asset, but there's so much more there.

Sean Callanan (18:52.366)
So what excites you about what you're doing in this space, especially in the web three space as it's starting to, like I said, mature, more use cases are coming on board. We're gonna start seeing more use cases where it gets integrated with events and, or you'll have a digital asset and you'll be at an event like this, train open and you'll be able to scan that and that will get you different access.

I mean, there's so many different use cases and I guess exciting possibilities. Is that something that excites you going forward and what you can do in the space?

Sarah Dale (19:26.211)
Yeah, I think it's really exciting to see that there are more reputable players joining the space. And as a result of that, there is more trust in crypto companies, and there's more openness for more creative integrations, right? More integrations in general, more creative integrations in particular. And so I think as we see that not only for Binance, but for others, it's really exciting because as we see

more more use cases like you say, think that education will grow, the power of Web3 will grow. And so I think

It's exciting to think about what we haven't even seen yet and what is to come, right? So through that education and through that engagement on both sides, because I will say the properties and the organizations are also getting more sophisticated with how they understand what they can do with us. Whether it's those fan engagement programs, those loyalty programs, leaning into the ways they're engaging with their fans is super exciting.

Sean Callanan (20:25.154)
So how does the sponsorship and the legal version of yourself reconcile this new world where stuff hasn't yet been invented, but you're going to be in partnerships that are locked in for a certain time. It's like this tech and the ability to do things keeps changing. The lawyer in you says, I have to lock it all down and button it all up. But the marketer you says, this is really exciting. So how do you deal with that?

Sarah Dale (20:53.125)
think I'm pretty good at drafting broad categories. But you I think you raise another point and that is that

our industry requires some flexibility on the part of our partners, right? So we don't have marketing plans set for the next three years. We don't know what's gonna happen in the next three years. we require, and we hope that it's not the same. We hope that we innovate and that there's new technologies and there's new possibilities. So we require some flexibility to be built into those agreements. And it's not because we're going anywhere. It's because we're going.

Sean Callanan (21:16.845)
Yeah.

Sean Callanan (21:28.696)
Yeah.

Sarah Dale (21:29.401)
so many places. So I think it requires some flexibility to be built into that. So we have the room to anticipate and to build together.

Sean Callanan (21:39.662)
Because yeah, I think it is really important. Like a lot of the time I'm talking with someone on brand side and you know, they're trying to get the deal done. And yeah, then it becomes this laundry list of deliverables and they're getting ticked off. But it's like, if it gets too restrictive and too, too, you know, list driven, then you miss that innovation or you miss that really cool opportunity to say, Oh, actually, there's an opportunity in this market to do this cool thing with this thing and it would work for us. And you know, the damn lawyers, the damn lawyers get involved and it's like, it doesn't happen.

Sarah Dale (22:06.981)
I know, I know.

Sean Callanan (22:08.438)
So it's like, you know, it's good to hear from your side, you know, from a from a brand side to say how you want that flexibility as well.

Sarah Dale (22:15.545)
Right. And I think that's where we the importance of finding partners who believe in us, who believe in the future of Web3, of blockchain, of crypto is so important because there's a mutual interest in going to those places together, even if it isn't in those four corners of that agreement. And so that's, know, it's a partnership, you know, it's a mutual partnership for and everyone's best interests are kind of evolving together.

Sean Callanan (22:32.813)
Yep.

Sean Callanan (22:44.078)
So, I mean, you're gonna head down to Melbourne. What are you looking forward to for the first Grand Prix of the season?

Sarah Dale (22:50.939)
I'm super excited for our next reveal with Pierre. So you will see that take place on the ground, on the track. We have a lot of activations planned socially. We have our first Finance Melbourne meetup in years taking place. So we'll make sure that you get an invitation to that. We're hosting lots of our VIP and community members. It's a week full of activities. So I'm really excited.

Sean Callanan (23:20.48)
And especially when you've got an Aussie in the car with Jack Doohan, he will be one of the stars of the show. So it'll work out quite well.

Sarah Dale (23:29.581)
it well well there's a lot of magic happening in Melbourne for us that I can't fully fully share but it's the perfect storm of Pierre and Jack and the first race.

Sean Callanan (23:42.776)
Well, everyone will be listening to this afterwards. So you can tell me now, it won't go anywhere, but this will be afterwards. And hopefully I will catch up with you when you are in Melbourne. I'm really looking forward to seeing, have you been to Melbourne before?

Sarah Dale (23:52.634)
Yes.

Sarah Dale (23:56.099)
So that's why I'm even more excited because I've never been to Australia. I've never been to Melbourne ready

Sean Callanan (24:01.052)
well, I'm happy to send you all the recommendations. I don't need to send any coffee recommendations, the best coffee in the world. So once you do if you're bit jet lagged, just get yourself a coffee and you'll be fine. But the the Australian Grand Prix Corporation do a terrific job. So it'll be a terrific event. And it's you know, back where it started back at the start of the of the season, which you know, which is what we

Sarah Dale (24:11.473)
Yes.

Sean Callanan (24:24.982)
We like it. I think it was sold out in a couple of days. So there'll be 400,000 people joining you in Melbourne for the Grand Prix. So it will be amazing. Sarah, I want to get to the sports gate closing five. I always like asking people a few weird questions, but that's all right. Do you remember the first sports event you ever attended?

Sarah Dale (24:31.493)
Ha ha.

Sarah Dale (24:44.987)
I grew up in Kansas City. So I have been a Kansas City Chiefs fan long before they were winning Super Bowls. And I would say, yeah, so I would say that that is the first event that I remember because we grew up going to Kansas City Chiefs games and the Royals, but I remember the Chiefs games more prominently.

Sean Callanan (24:51.661)
Okay, yep.

Sean Callanan (25:04.302)
I haven't been to a Chiefs game in Arrowhead. was at the last two Super Bowls, so I have seen Patrick Holmes in action and he is a phenomenal player. But I have also been to a Royals game, which is just a short while away and that's a beautiful ballpark. So yeah, Arrowhead would be definitely an experience.

Sarah Dale (25:10.299)
Okay.

Sarah Dale (25:23.811)
It is Kansas City's a great sports town.

Sean Callanan (25:26.878)
Yes, it definitely is. You would have been to a lot of different sports events in your time. Do you have a go to food or a favourite food memory at a sports event?

Sarah Dale (25:36.347)
we allowed to say beer?

Sean Callanan (25:39.0)
beer, hey, beer is a food group here and you'll be welcome with open arms in Australia. So with that answer, beer is definitely an answer. I don't think anyone's actually said it. But you are the first and I will happily join you for beer at the Grand Prix. So that's it. We'll book that in. And being in a global role, and here I am talking to you from Melbourne and, and you're in a different part of the world. You what's the first app you open in the morning?

Sarah Dale (26:23.663)
So I'm a little bit embarrassed to say this, but it does cover a lot of bases and that is Instagram because it covers news, it covers current events, it covers my friends, my family. I pop that open and I get a good glimpse.

Sean Callanan (26:38.402)
That's hey, that's okay. That's fine. There's people who hang their heads in shame and say they open email. like Instagram is better than saying, hey, I wrote my email first thing in the morning. So I've yeah, I've had more shameful answers where people have said, Yeah, I checked my email. Sorry. I also want to know, is there someone that you follow? might be someone on social media, it might be someone that's an author or a podcaster that that you follow that other people should follow? Why?

Sarah Dale (27:05.585)
Well, I have to give a plug for everyone to follow Binance, of course. I think if you follow Binance, if you follow Richard, if you follow Rachel, I think you will not only be caught up with our business, but the industry. And we provide a lot of Binance news and industry insights all the time.

Sean Callanan (27:25.998)
Now you may have spoiled this answer with your answer before, but that's okay, we run it back. And you can answer this both personally and then maybe from a finance point of view, but what social media platform is, is your MVP.

Sarah Dale (27:40.229)
Okay, so I'm glad you caveated that with the, personally, it is Instagram, so I did give that away earlier, but I think from a Binance and industry perspective, X is still a primary source.

Sean Callanan (27:45.293)
Yep.

Sean Callanan (27:51.87)
X is still it's still holding on for dear life in the crypto space, the crypto community on X is still one of the active communities. They're the sort of the last ones in waiting for the lights to be turned off.

Sarah Dale (28:03.345)
There's a lot going on there.

Sean Callanan (28:06.254)
I think there's crypto Twitter and there's NBA Twitter and then there's a few sports Twitter, football Twitter and then that's it. A lot of other people have left but there's still those really hardcore communities of really big fandom that are still there and so you can be a consumer and yeah, obviously crypto Twitter is one of those. I still can't call it X, sorry.

Sarah Dale (28:28.823)
Yeah, know. I know. Honestly, as neither can I but I try to be proper. But yes, as long as our communities there, we will be where they are.

Sean Callanan (28:40.142)
I always ask people at the end of the podcast, where can people who've listened to the podcast follow you, send you a thank you, appreciate the insights you've given to the space. What is the best platform for people to do that?

Sarah Dale (28:53.329)
LinkedIn, I love LinkedIn too, besides Instagram. I love LinkedIn. I think this is a small world and LinkedIn makes it even smaller.

Sean Callanan (29:01.902)
Definitely, and it does show all the different connections and the different ways that you are connected. I'm obviously a big advocate for LinkedIn. So we'll have links to your LinkedIn in the show notes as well as all the socials for Binance. Like I said, recording this before the Grand Prix. So hopefully we will catch up when you're in Melbourne and enjoy a terrific Grand Prix.

Sarah Dale (29:23.557)
Yes, thank you so much.