The dawn of a new day in sports has arrived, and top-notch venues must understand the power and purpose of the Peak-End Rule. Fan retention, renewals, referrals, and revenue are all highly connected to this reality in the marketplace of tomorrow.
We exited the plane without talking. We walked toward the terminal, and a security guard motioned to me to stay in line. I didn’t even know there was a line.
If you are reading this article, you are undoubtedly someone with a role and responsibility to attract and retain fans. You are also someone who knows all too well the obstacles and opportunities that accompany such a vital role.
Like you, I have not encountered these specific circumstances. However, I can share past situations (natural disasters and work stoppages) that were unexpected and hit us hard from a business operations standpoint.
The truth is you can connect with your prospects and buyers, and you should.
Please share this information with anyone who might be interested in learning how to be a better presenter. The sessions were recorded in 2010, but the content is timeless.
Crisis. Pandemic. These words are not ones that typically flow off the tip of your tongue. We’re currently in the middle of an ever-evolving landscape in sports business.
Immediately following the suspension of league operations, we asked 200 NHL fans from around the country to identify their favorite teams.
It’s renewal time. What are our steps to get our clients to renew? We get them a great gift. We invite them to an event. We visit them in their suites. We send or deliver an invoice. Yet we still can’t get to that elusive 90%-100% renewal rate.
We wine and dine our premium prospects. We sell our prime real estate to them. They “move in”, and we visit them during the season and invite them to some events our team hosts. During the holidays, we send them a gift.
I’ve had the pleasure of working not just with sports and entertainment, but also with the hotel industry over the past ten years.