Here is how Seyu can help you to overcome the two biggest challenges of 2021
Creating new revenue-generating models and rethinking the role of sports for fans and society are the most important tasks of sports industry leaders, according to Deloitte. Seyu’s personalized solutions go hand-in-hand with recent innovations.
2021 is a crucial year in sports history – challenging fans, athletes, broadcasters, teams, and leagues alike in new, unexpected ways. As the pandemic still continues to influence all sectors, leaders realized that standing by and waiting for this period to end is not a profitable business option. According to predictions, lockdowns and restrictions will come back from time to time, banning fans from entering event venues, depriving organisers and teams from multiple sources of income. After a year of ad-hoc solutions, studies that suggest newer directions and methods finally started to surface. Deloitte, a leading global provider of audit, assurance and related services published a paper on the outlooks for 2021’s sports industry recently, defining key issues to tackle and possible ways to overcome them. They found the following two issues to be the most cardinal.
1. Reshaping and expanding revenue generation models
Due to the pandemic, many revenue streams vanished overnight and it has been the greatest challenge for stakeholders to fill their places. Needless to say that without maintaining a steady profit, these organisations will be unable to keep up their previous business practices which may result in losing important team members, investors or sponsors. To avoid all these tragic losses, provident organizations must consider multiple potential solutions. One of the certain goals is to reopen stadiums as soon as possible, by making fans feel safe about returning. Despite the long pause, in-person attendance will still be important for loyal fans, but is expected to be a less important element of business plans. Data monetization, particularly in the areas of fan engagement, player and team performance, and sports betting will most definitely take up bigger percentages of generated revenue.
To shift the focus from presence-requiring methods, data-driven platforms and applications like Seyu, that incorporate artificial intelligence and personalised solutions into their service may be of great help. Aside from entertaining thousands of people remotely, Seyu is able to analyze consumer data to better understand fan behavior, and then connect with fans in innovative ways. Better fan experience can not be considered as a side effect to revenue anymore. By prioritizing engagement and social activities, specific incentives can be added to an organisation’s toolkit . This can include leading fans on social media to encourage the creation of user generated content and monetizing the team’s marketplace on their website and stores. Data to create hyper-personalized mobile advertising can also be deducted directly from Seyu’s post-campaign statistics, turning gamification into an alternative, self-driven solution. The VIP photo sharing experience is the prime example of how entertaining participation will lead to a significant rise in both engagement and revenue.
Involving sponsors in the process is even smoother and more prosperous. During the pandemic, when stadiums stood empty, sponsors also had to find new ways to remain visible. Seyu’s joint campaigns like the collaboration between Wasps RFC and Vodafone received international attention and recognition, placing the project on the podium of 2020’s ESA Awards. With over 1.4 million impressions on social media during the campaign, the collaboration was deemed one of the most successful and value-generating collaborations in Europe in 2020.
2. Redefining relationships with fans
There’s an increasing need to boost interactivity and encourage two-way relationships with fans all year-round. Multi-channel virtual solutions are predicted to have the greatest impact on the crowds, potentially altering their behaviors. It’s no longer enough to be present online on a single channel, organisations have to pay more close attention to their participation in trends, on multiple platforms. Social media accounts, application integrations and websites all have to be tightly intertwined to create a conscious, 21st century online brand image. Fans have to be able to trust the organisation in four separate dimensions. Their physical location has to be deemed safe for people to visit, emotional bonds have to be strengthened, financial concerns have to be taken care of, and personal data should be protected at all cost.
Seyu is able to strengthen the psychological connection between fans and their favorite team by enabling supporters to be present at games, while keeping them safe with a remote solution. Research has shown that social connectedness is among the most frequently cited reasons for fanaticism, which will keep the engagement levels high off-season as well. Seyu’s app is able to exploit the opportunities of personalization and connection and at the same time build a worldwide community. By sharing photos with the same supportive messages and frames, fans are able to get involved in the matchday, and they can share their values and feelings with thousands of individuals with the same experience. If people attach positive, self-assuring feelings to a certain activity, they are more likely to spend money while doing it. Industry reports state that tech enhanced fan experience increases the spending willingness among younger generations (Z and Y).
Charging for fan photos being displayed on the giant screen is not something extremely far fetched, and according to Seyu’s data, is a sought after, profitable solution. To maximize opportunities in the area of fan engagement, it’s essential that sports organizations truly understand their fan bases and build the ability to fulfil their exact needs.
Digitalisation in sport is simply essential to keep up with the new challenges. Investing in technologically innovative solutions will shortly become inevitable to remain competitive. The ability to monetize engagement, produce positive ROI indicators and exploit the opportunities in social media will grant an advantage to anyone brave enough to seize it. Seyu’s personalized tools will continue to satisfy all of the needs above, with constant improvements to keep up with the latest trends in sports marketing. Seyu is a great decision because of the ability to monetize engagement, supported by positive ROI indicators from countless previous campaigns.
