Earlier this week the National Sports Forum hosted over 850 sports business professionals in Orlando for their annual conference. Representatives from sales and marketing for teams, leagues, properties, agencies, sponsors, and vendors were all on hand to network and share best practices in disciplines such as social media, marketing, senior management, sponsorship sales, business development, and ticket sales.
As sports business continues to evolve and teams look to market their products in a more relevant manner, it was no surprise then to hear phrases like “leveraging big data,” “driving revenue through digital platforms,” “using analytics to maximize revenue,” and “seven keys to driving engagement, brand equity, and value” in many of the breakout sessions.
Below are three key takeaways from the conference as they relate to interactive marketing:
- Two dynamics of purchase behavior are ability to buy and intent to buy: Sophisticated marketers in sports must understand what drives their consumers to buy. This is also known as consumer insights. Teams must have a profile for every person in their database to effectively segment groups and send targeted content.
- Acquire / Upsell / Retain: How are you using data to acquire, upsell, and retain customers? In order to utilize data effectively, you must know your revenue drivers as an organization. In the case of sports business, consider things outside of ticket sales and sponsorships such as food and beverage, parking, merchandise, etc.
- Conversion is King: Conversion rates are critical. Through your digital marketing programs, you must measure conversion by lead source (i.e., website, marketing email, SEO, PPC, sales event, etc.). In order to justify marketing spend, you need more leads than you can possibly reach through any outbound cold-calling efforts.
With over 80 speakers and 30 sessions, the content presented was better than expected and the networking was first class. Savvy digital marketers in sports are leveraging data to their benefit, regardless of the team’s performance on the field of play.
To find out how your brand can leverage its data to drive higher conversion rates, check out 5 Proven Email Practices that Drive Revenue.