There’s no business like the sports business!
The competition to be the “star player,” valued and rewarded for significantly contributing to the bottom line of your sports franchise, company, or agency, is fierce.
How can you capitalize on the best opportunities to beat the competition in an industry that Forbes estimated was worth $60.5 billion in 2014 and is expected to reach $73.5 billion by 2019 in North America alone?
In today’s sports business, for you to beat the competition, your success is directly related to being digitally fit in an organization that itself is digitally fit.
No area of the sports entertainment business will be untouched by this digital technology revolution – both on and off the fields of play. And, it’s happening at a breath-taking pace. Consider just a few windows of opportunity:
- Capturing big data of every movement of the audience/fan/customer to understand the benefit rendered to them from their decision to watch or attend a game.
- Curating the big data to personalize fan experiences through their preferred channels.
- Embracing ticket sales analytics, dynamic pricing, and distribution models that rely on the every changing attitude of the audience.
- Leveraging mobile applications to deepen fan immersion at the game or worldwide, including digital payment systems.
- Using digital technologies to solve old time problems like parking and security.
- Embracing new technologies that facilitate the capability of improved training metrics, rehabilitation and medical interventions for less injuries and quicker return to the field of play.
- Enhancing the digital ordering and delivery systems of concession choices and variability of those choices in venue.
- Creating and perfecting the ability to order and deliver online merchandise in venue.
- Rendering data and analytics not only to the teams, but to the fans as an integral part of their entertainment experience. This especially applies to fan participation in fantasy sports and legalized betting.
- And on, and on and on…
In today’s sports business, for you to beat the competition, your success is directly related to being digitally fit in an organization that itself is digitally fit. This will allow you to be agile and mobile and prevail in this exciting and effervescent new world. Success requires an attitude of being insatiably curious and forever dissatisfied. You must never be the incumbent, but always the challenger — discovering and uncovering new solutions to solve current and future problems facing the industry. Keep top of mind that it’s not the features of these technologies that make a difference, but the benefits they render to all the constituencies in the food chain.
Couple this attitude with your aptitude and you’ll become the MVP of your career. You may also become a “star player” in today’s sports business.