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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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