Walk into any McDonald's, order a Quarter Pounder, and the cashier will invariably ask, "Do you want fries with that?" Each affirmative answer adds $1 or more to that particular sale. If just a fraction of McDonald's' 54 million daily customers say yes to that question, that's millions of extra dollars every day!
The same strategy is important for Sports Teams and Stadiums. You need to entice as much money as possible from each person who does show up. The issue at this stage isn't market share but wallet share. Boost the dollar value of your average sale, and you boost your cash flow and bottom line using Flowte.
Calculate your "Average Spend Per Fan" If 10,000 fans on game day generate $500,000, your average spend is $50.
The journey includes every interaction a fan has with your brand. Flowte handles every touch point.
Combine product offerings to include tickets, merchandise, food and beverage, gaming and fan experiences.
How can we modify fans behaviour in a way that benefits our team. Incentivise activities that drive spend per fan.
Flowte has all the tools to get your fans to attend more games, drive loyalty and fan engagement.
Analyse fan's previous purchase data. Derive meaningful insights by layering multiple sources of fan data together.
Growing attendance does not mean you only focus on acquiring ‘new’ fans. The first part of our plan focused on increasing spend per fan. Let’s assume for a minute we have now successfully implemented all of these strategies. As a result we may, hypothetically, have increased spend per fan from $25 per fan to $32 per fan. That is an increase of $7 dollars per fan. If your stadium capacity is 50,000 people that $7 increase equates to $350,000 per game.
Therefore if we want to increase revenues further, we must now turn our attention to fan frequency. If our average season ticket holder attends 10 games per season, how can we increase that to 13 games per season? If we can do this and retain our $32 spend per fan those extra three attendances can generate an enormous $4.8M purely in additional revenues.
Flowte clients focus on changing the game day offering. It needs to appeal to as many target groups as possible. The best way to do this is to make “game day” instead be “a day out for all the family" by expanding the fan experience.
Some stadiums only open on game day. To attract new fans, teams must maximise the stadium potential on non-game days. To this end corporate boxes and entertainment spaces in the stadium can be rented to local businesses for conventions even used as a wedding venue for “die hard” fans ! Larger stadiums also have the opportunity to offer retail, museum or stadium tours all of which can attract casual fans, tourists and regular fans. The key to these non-game operations is that the same system used for ticketing and operations on game day is used every other location also. By doing so the team can gain a far deeper understanding of their fans interests and profile.
The game experience shouldn't be limited to the sporting event, but should be engaging before, during and after. Sports teams fanbases tend to be quite static. We often see the same fans come back every week. Indeed it is extremely unlikely through any amount of advertising or marketing that we will, for example, convince a baseball fan to suddenly start attending soccer games. It should be noted that most teams often have a predominantly male and middle-aged crowd.
So given that we can’t “make” new fans like our sports, we need to instead focus on changing the game day offering. It needs to appeal to as many target groups as possible. The best way to do this is to make “game day” instead be “a day out for all the family”.
Expand the gameday experience
Add a pre game food market
Add post event concerts
Add a kids play area
Offer stadium tours
Add gaming and VR experiences