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jerryking : cross-promotion   2

How Data Is Revolutionizing The Sports Business
March 10, 2017 | Forbes | By Robert Tuchman , CONTRIBUTOR who writes about live events, deals, and brand marketing.

A top-notch record might be chalked-up to the right players and exceptional coaching, but a team’s increased brand awareness can be credited to its effective use of newly sourced data. The Panthers have been able to grow its business in a multitude of ways since it started acquiring and using key fan data....[there is] an array of data companies who are looking to assist organizations in this area.

Many of these emerging companies access information through individual data systems, third-party vendors, and social media sites. Beyond educating teams about the buyer of their tickets, these companies are helping teams better understand the individuals entering their building. This insight is a game-changer for teams as it can help to better service existing fans and develop new ones. To better service its fans, the Panthers created unique events that catered to their interests, which they learned from their data. For example, in a game against the Colorado Avalanche, Florida hosted an evening honoring the Grateful Dead. The Panthers organization secured a well-known and beloved Florida cover band, Unlimited Devotion, to play the hits of the legendary musical icons. Incentivizing “Dead Heads” to purchase tickets via the Internet, limited edition memorabilia was made available only for online ticket purchasers, with a portion of the profits going to the Grateful Dead's non-profit organization. These types of cross promotions work best when you understand the specific interests of your fans.

And the results are in. The Miami Herald reported that during the 2015-2016 season, attendance went up 33.5 % from the previous season. In addition, season ticket renewals are reportedly increasing at four or five times last year’s rate......In today’s fragmented world, it is more important than ever for teams to generate loyalty and create a personalized customer experience. As in the case of the Florida Panthers, the greater involvement a fan may have in a team’s activities, the greater the possibility they migrate from their living rooms to the venue. More fans equal more sponsors, which leads to greater revenue for teams.

Data companies can help teams better understand its fans. Innovative sports franchises are figuring out how to use this data to create stronger engagements with their actual fans.
sports  data  data_driven  Moneyball  event-driven  events  event_marketing  fans  fan_engagement  musical_performances  cross-promotion  customer_loyalty  personalization  customer_experience 
august 2017 by jerryking

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