It may seem that low-income clubs have no prospect of making money in the sports industry, where the income gap between the best clubs and other clubs is widening, with rich clubs becoming richer due to the popularity of the branches. I think the sports customer data platform is the main reason for clubs to focus on high income. This factor promises to keep small clubs in a better position to generate revenue, in parallel with financially larger and stronger clubs.
For a very long time, business days focused on game days and product revenue were enough in the industry and our rights to television should not be forgotten. The generation that embraced sports in this traditional way was quite happy with the trend, but now the need for change has naturally hit the sports industry as well. Working in a data-driven way has become essential. This seems to be true of 99 per cent of all clubs, especially in the case of Manchester City and Barcelona.
How can you start earning higher revenue today through a sports customer data platform? To make it a successful strategy, rights holders must acknowledge a number of well-known facts. So the proverb ‘knowledge is power’ exists. What you don’t know can greatly affect your ability to generate income. Another key word, I guess, is knowing your fan base.
So how does this process generate higher revenue?
Understanding your supporters can increase product sales, resulting in higher revenue. For example, in the economics pie, the Gothenburg Club not only saw product sales increase 13 times through its Sports Customer Data Platform, but were also able to see which fans did not purchase their products at one time. Campaign so they can re-target them.
As mentioned above, understanding your supporters means understanding their relationship. This makes it easier for you to find the right sponsorship partners and adds more value to them. As a result, you can charge more for your sponsorship packages With a single solution, a sports customer data platform, you can improve not only your product strategy, but also your sponsorship strategy.
Your revenue generation strategy is diverse
So far, we’ve talked about understanding your supporters, increasing fan engagement, increasing the value of sponsorships, and increasing product sales. But the benefits of a sports customer data platform do not end there. For example, we mentioned earlier the TV rights issue. The right to TV broadcasting, which is a major factor in the economic rise of football, is one of the strongest driving forces behind the deepening inequality between clubs. How much you earn from TV rights is important. Since the general lack of visibility in the media affects the value of TV rights, unfortunately, women’s clubs seem to be less in this area at the moment, but the level of visibility will increase day by day.
For example, using athletes / players as ambassadors for your club. This is a proven strategy that works. The biggest difference at this point is that you have the data to back it up. So you’re not guessing anymore, you’re following the numbers.
A sports customer data platform will save companies time, effort and money by helping you guess from your decision making. Basically, you save money while making money. Therefore, using a sports customer data platform to generate higher revenue seems to be the right process.
Some clubs may be at risk of relegation or may already be relegated, others may spend their best years both on and off the pitch. Whatever the case may be, the reality is that the pressure to perform and bring money to the club continues. That’s why it’s important for big and small sports organizations to make money in the most stress-free way, but also in the long run and measurable way. That’s why it’s important to select data for more revenue.
Summary: The more data there is for sustainable sports management the more success there seems to be.