In this series of articles, we will explore 10 different pervasive and urgent challenges facing stadium and arena owners/operators today along with solutions that address each. One could argue the specific position in priority order of the challenges that will be discussed but no one would disagree that these are near the top of everyone’s list.
Challenge One: How do we increase annual revenues at our facility while serving a customer base who already finds a major sports event experience unaffordable? The average price to attend a pro sports event for a family of four is over $340 in 2017. The answer is to make the fans visit memorable and well worth the investment. Do that and they might just want to take that memory home with them while their return.
While virtually all major sports franchises, stadiums and arenas already use dynamic ticket pricing to maximize revenue (adjusting ticket prices in real-time due to real-world influences like the team’s record or inclement weather) there are a variety of other revenue streams that can be optimized using existing technology. High Tech event venues are becoming the norm with every seat wi-fi, in-seat food and beverage ordering via mobile apps, ever larger LED displays and super charged audio systems enabling the in-game experience to become more of a high quality production than ever before. What about outside the seating bowl in the concourses, clubs, retail and common areas?
Sure, everyone grabs plenty of food and drinks while at the game. While concessions are typically outsourced, concessions still account for a significant portion of any venue’s game day total. With the advent of mobile apps and in-seat ordering, most major sports stadiums have already figured out how to drive more concessions sales and take advantage of those lucrative margin dollars with digital menus. For now, let’s look elsewhere.
A sure way to maximize revenues is to keep your fans engaged and entertained right now and then keep them coming back. With our progressively short attention spans, constant mobile companions and elevated expectations, we are walking talking media consumption machines. Savvy stadium and arena operators are seeing dollar signs by investing smartly in digital display solutions.
Screens large and small including digital signs and menus, interactive media displays, wayfinding, device charging kiosks, street furniture, TVs and digital marketing experiences now blanket the areas surrounding the seating bowl and for good reason. Working in concert, a well-designed digital fan engagement strategy can pay big dividends. Leverage your physical space and maximize your marketing engine by strategically presenting media assets produced expressly to drive fan engagement and purchasing behavior while reinforcing your brand and as importantly the brands of your sponsors and advertisers. Ultra-High visibility promotions catch everyone’s attention.
Daktronics is the world leader in providing audio and visual communication systems designed to inform, engage and entertain audiences in live event venues. I’ll bet you didn’t even know that we cover the whole venue from the world’s largest LED screens to Digital Signs and Menus to IPTV and Video Walls – heck, we can even tell you if a parking space is available. Let us show you how an end to end digital fan engagement strategy can optimize revenue generating opportunities at your facility.
Every opportunity to keep your fans connected to the action, to each other and to direct them toward rewarding experiences during their visit to your facility is important – Every Moment Matters.