To help organizations tackling the pressing challenges – and opportunities – within the sports and entertainment industry, Info-Tech Research Group has released a comprehensive blueprint for regaining fan engagement by leveraging emerging technology, adopting design thinking methodologies, and implementing value-driven automation. Through the integration of these advanced approaches, IT leaders in the industry can create personalized and immersive fan experiences, optimize business operations, and drive sustainable growth for sports organizations.
TORONTO, Aug. 15, 2024 /PRNewswire/ – As fan engagement becomes increasingly crucial for success in the sports and entertainment industry, a recent survey by Info-Tech Research Group and Association of Luxury Suite Directors (ALSD) reveals that 79% of ALSD members feel personalized experiences are a top opportunity for the premium fan experience, and 57% say improved ticket holder data and insights is a top opportunity. However, the industry faces fierce competition from the rapidly expanding digital entertainment sector, leading to a decline in traditional fan engagement. As conventional methods lose their effectiveness, a comprehensive and innovative approach is essential. In response, Info-Tech Research Group has published its latest industry resource, Revitalize Fan Engagement for Events and Premium Suite Sales, which highlights the importance of design thinking, unified service recovery, and value-driven automation.
The firm’s latest survey findings and research indicate an opportunity for advanced methodologies to help the IT leaders in the sports industry overcome existing hurdles, transform fan experiences, and optimize business operations, positioning the industry for a dynamic and sustainable future. According to Info-Tech’s partnered survey, implementing a premium experience for fans results in a 45% improvement in retention rates and a 48% increase in demand for premium sales.
“As younger generations show less interest and existing fan expectations are unmet, the sports industry’s traditional operating models fall short. Implementing modern strategies and technologies has challenges and barriers to successful execution,” says Elizabeth Silva, senior research analyst at Info-Tech Research Group. “Industry leader perspectives and vetted frameworks are necessary to overcome these barriers and sustain the industry in this rapidly changing ecosystem. Examining adjacent industries, such as amusement parks, zoos, and aquariums, and understanding how they address these challenges can provide valuable lessons.”
As outlined in Info-Tech’s blueprint, while adopting a design thinking approach with fan personas and journey mapping can help organizations create more personalized experiences and increase fan engagement, the sports and entertainment industry faces a broader range of challenges in its modernization efforts. These challenges, which necessitate a more tech-driven solution in 2024 and beyond, are outlined below:
- Slow Innovation Leading to Decreased Fan Engagement: The sports and entertainment industry is struggling with a slow pace of innovation, which has resulted in diminishing fan interest and engagement. Without continuous innovation, the experiences offered to fans will fail to captivate the audience, ultimately leading to a drop in attendance and viewership.
- Inability to Adopt New Trends and Improve the Modern Experience: The industry is failing to keep up with the latest trends, particularly those that appeal to younger generations. This inability to integrate modern technologies and trends into the fan experience results in a disconnect with today’s audience, who expect seamless and cutting-edge entertainment.
- Traditional Operating Models Limiting New Business Models: The conventional operating frameworks in the sports and entertainment sectors are not equipped to overcome existing barriers or support the development of innovative business models. These outdated models hinder the industry’s ability to pivot and adapt to new market demands, stifling growth and modernization efforts.
The firm’s latest research emphasizes the pivotal role of IT in implementing modern solutions within the sports and entertainment industry. Info-Tech outlines in the blueprint key strategies for IT leaders to support this transformation. These strategies include the following examples:
- Drive Value: Enhance existing pipelines and introduce new value streams.
- Deliver Consistent Digital Experiences: Deliver seamless digital experiences by integrating various modern technologies.
- Personalize Experiences: Automatically tailor customer experiences to individual preferences.
- Be Agile: Forecast and quickly respond to customer issues and market trends.
Increasing the responsibility and involvement of IT within projects will benefit the entire business. Therefore, the firm advises that organizational leaders in the sports and entertainment industry must involve IT from the beginning due to their significant influence and impact. By considering IT as a business partner, sports organizations can enhance personalized experiences and transition premium suites to a digital-first experience.
Info-Tech’s comprehensive blueprint provides IT leaders with practical guidance on adopting human-centric and technologically advanced strategies to overcome challenges in the sports and entertainment industry. The firm advocates for an embrace of innovative approaches to sustain long-term success and thrive in a rapidly evolving ecosystem.
For exclusive and timely commentary from Elizabeth Silva, an expert in the sports and entertainment industry, and access to the complete Revitalize Fan Engagement for Events and Premium Suite Sales blueprint for more insights, please contact [email protected].
Info-Tech LIVE 2024
Registration is now open for Info-Tech Research Group’s annual IT conference, Info-Tech LIVE 2024, taking place September 17 to 19, 2024, at the iconic Bellagio in Las Vegas. This premier event offers journalists, podcasters, and media influencers access to exclusive content, the latest IT research and trends, and the opportunity to interview industry experts, analysts, and speakers. To apply for media passes to attend the event or gain access to research and expert insights on trending topics, please contact [email protected].
About Info-Tech Research Group
Info-Tech Research Group is one of the world’s leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.
Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact [email protected].
For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.
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SOURCE Info-Tech Research Group
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