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Every Company Wants to Become a Tech Company–Even if It Kills Them
March 8, 2019 | WSJ | By John D. Stoll.

Wall Street loves a good reinvention story. The tough part is finding a happy ending.

All the plots seem to go something like this: Every company wants to convince us it’s becoming a tech company–even if it kills them..... an increasing number of companies are at least dabbling in new tech ventures to improve operations......The boom in vendors offering affordable ways to crunch data or utilize cloud computing, for instance, unlocks new strategies for companies across a wide variety of industries........Planet Fitness Inc. is one of the interested companies. The gym boasts 12 million members but CEO Chris Rondeau admits the company knows relatively little about them.

“Besides checking in the front door, we don’t know what members do,”.....The company is spending millions to retool certain treadmills and cardio equipment to better collect data as people exercise, commissioning a new smartphone app, and wants to tie into its customers’ wearable technology....many other CEOs aren’t convinced they have the luxury (of time to take things slowly). Even if it is hard to figure out what to do with all the data gathered and tools employed in the course of regular business, paralysis is not an option. Like a shark, they feel they need to keep swimming or die....... Nokia Corp., the Finnish company, started as a pulp mill in the 19th century and then branched off into various industries, including a successful venture into rubber boot making, ditched its failed mobile handset unit in 2013 to focus on a networks business that was thriving under the radar. Today, it’s locked in a high-stakes race to deploy 5G technology......In 2000, Major League Baseball owners committed $120 million to fund MLB Advanced Media. It aimed to infuse technology into the game and resulted in initiatives like online ticket sales and expanded radio coverage. The gem of that initiative, however, was a streaming television network launched in 2002...... it has attracted outside clients, such as ESPN, the WWE Network, Playstation Vue and HBO. The Walt Disney Co. acquired control recently for nearly $3 billion.... Dunnhumby Ltd., the data and analytics consultancy owned by European grocery chain Tesco PLC. Tesco bought Dunnhumby after it created the chain’s loyalty-card program. Dunnhumby ballooned into a storehouse of information and amassed clients and partners...Searching for the next BAMTech or Dunnhumby is now a religion at many companies......Walmart Inc., which has already heavily invested in e-commerce, wants to take its technology, marry it with everything the world’s largest retailer knows about us and use it to get into the advertising business......“Everyone’s thinking ‘we’ve got a ton of this stuff (data), how do we use it,’” Executives are trying to answer that question by hiring outside firms to analyze trends or setting up in-house units for experimentation.

Walmart is dumping digital-marketing agency Triad, a unit of WPP PLC, and will try its hand at selling advertising space. Armed with a trove of shopper data and connected to a chain of suppliers wanting to place ads in stores and on websites, Walmart hopes to challenge Amazon.com Inc. on this new front......At Ford Motor Co. , CEOJim Hackett envisions a day when automobiles roam streets collecting data from the occupants and the cars’ behavior like rolling smartphones. This is part of that “mobility as a service” vision car makers peddle.......“Corporations tend to reward action over thinking,”“But the truth is…you’ll find the companies that didn’t do the deep thinking and acted quickly have to redo things.
BAMTech  digital_savvy  Dunnhumby  experimentation  Ford  in-house  Jim_Hackett  massive_data_sets  MLB  Planet_Fitness  reinvention  Wal-Mart  mobility_as_a_service  technology  under_the_radar 
march 2019 by jerryking
Why many high-performing sports teams are losing money at the gate - Vision Critical Blog
February 25, 2015
By Chris Bondarenko

Here are four reasons why many high performing teams aren’t seeing the financial gains they once enjoyed:

1. MOST TEAMS LACK AN EMOTIONAL CONNECTION WITH FANS.

...If sports teams want to stop losing money at the gates, they need to better understand what triggers the passion of fans and integrate them into the brand experience. Teams can only do that if they truly know their fans. Building that connection requires showing fans that they matter—that the team cares and is listening to them—and will in turn deliver on that brand experience.

2. IN-PERSON EXPERIENCE DOESN’T MATCH FANS’ CONSUMPTION HABITS.

If teams want fans to become more engaged, they need to go where the fans are—the digital realm. Fans today simply do not consume sports in the same way they used to. Teams need to catch up....online consumption of sports videos grew 388 percent year-over-year from 2013 to 2014. Mobile and social consumption among fans is also growing rapidly....The rise of cloud, mobile and social technologies means sports teams need to reconsider not just how they’re distributing their content but also how they’re connecting with fans. The tools teams use to interact with people must be congruent and complementary to the habits, behavior and expectations of the empowered fan.

3. TEAMS FAIL TO ENGAGE FANS CONTINUOUSLY.

A study on fan loyalty revealed that although sports are seasonal, most fans follow their teams throughout the entire year, even in the off-season.. during preseason and the trade deadline....Teams need a game plan on how to engage with their fans consistently.

4. FANS DON’T FEEL HEARD AND UNDERSTOOD.only 45 percent of fans agreed their teams are interested in hearing their opinions. Even more troubling: only 33 percent agreed that that their teams listens to their opinion.

The lack of engagement is dangerous because fan loyalty isn’t what it used to be. Twenty-two percent of sports fans we talked to said they are willing to switch teams, while 30 percent admitted to already doing so in the past year.
fans  fan_engagement  LBMA  sports  gate_revenue  NBA  MLB  rugby  emotional_connections 
april 2016 by jerryking

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