Digital trends in sports and entertainment industries: Customer experience drives investments – ZDNet
The latest 2022 research focused on the connected customer experience found that 88% of customers say the experience a company provides is as important as its product or services — up from 80% in 2020. To improve the customer experience, start with the employee experience. Research shows that will improving the employee encounter leads to better customer encounter and revenue growth . In fact, companies are leaving money on the particular table. Breaking silos between employee experience and consumer experience can lead to a massive opportunity for revenue growth of up to 50% or even more.
The particular customer experience is also shifting rapidly to a digital-first engagement model that is extremely personalized plus real-time. Electronic channels continue to dominate customer engagement, but as public health restrictions ease, it will be important for organizations in order to bridge new ways associated with engagement with tried-and-true ones. 73% percent of shoppers expect companies to understand their unique needs and expectations. And 68% of customers have purchased products in new ways over the past two years.
A 2022 State of Marketing Report notes that improving the use of tools and technologies is the particular number one priority for markers. CRM is a leading tool with regard to high-performing marketers. While customer relationship management (CRM) systems are particularly popular, entrepreneurs use a blend of equipment to build relationships across the client life cycle. 89% of B2B plus B2B2C marketers are using account-based marketing platforms, aiding teams within their pursuit to orchestrate targeted campaigns with their sales and service counterparts.
The research furthermore notes that CMOs cite customer preferences and expectations as the No . 1 influence on digital strategy. Where customers lead, online marketers follow, plus marketers are increasingly experimenting with brand new digital channels to reach them. Video continues to play an important role as both a channel and a tactic, with preproduced video and livestream video both rising to the top of the particular marketing mix.
Delivering real-time, hyper-personalized experiences is a differentiator for all industries, including the sports activities and amusement industries. So how are these sectors leveraging technologies to improve the customer encounter?
Jason Lumsden is the particular former director of IT regarding the Boston Red Sox and currently is a vice president at Verndale , the Boston based customer experience agency, purpose-built to help advertising and technology leaders connect the dots of the customer journey. I asked Lumsden in order to share consumer experience trends in the particular sports plus entertainment industry.
Q: What has changed within the sports business with regards to delivering a better customer encounter?
Jason Lumsden: It wasn’t long ago that will professional sports teams didn’t need to try to sell tickets. They didn’t need to have any fancy customer experience platforms. These people weren’t worried about gathering data upon purchases. There were no analytics or modeling on customer/fan behavior, and teams had limited technologies budgets because the fans came anyways. That’s all changed, and sports activities and enjoyment venues are usually fighting for a share of the customers’ wallets along with everyone else. It isn’t enough to possess a competitive team or die-hard fan base. We’re seeing empty seats in stadiums in places with even the most passionate fan bases.
And this isn’t just a sports problem. Concerts, horse racing, festivals, conferences, and even new ventures like e-gaming are all competing in this new remote-working and digital-first world. The plus side for many sports teams is that customer loyalty is usually strong. They generally already have a customer fan base that wants to engage with them, so the challenge becomes offering the right product towards the right customer at the right time. We are working with Major League Baseball in order to really build on this loyalty and offer a much better client experience so fans can focus on cheering for their favorite team and supporting the product on and off the field.
What is the particular role of analytics plus data in terms associated with improving typically the customer experience?
JL: Venues need a way to be able to build relationships customers efficiently in addition to effectively for you to win their hearts, minds, and dollars. They need to motivate their clients to get in the game, literally and even figuratively. This begins along with finding easier ways to manage ticket sales and corporate sponsorships, fill seats, create new fans, and customize the lover journey before, during, together with after events. With this right technologies in place, you can enable a 360-degree view from the engagement consumers have with you, providing a person with often the insights needed to personalize the client journey and additionally achieve better outcomes. Venues are looking at this particular from more of an enterprise perspective. Maximizing the engagement with sponsors or followers across all their entities while not complicating your employee experience. We are helping some of the exact largest franchises rethink how they engage, manage, not to mention generate revenue from their own products.
Enter a robust CRM platform where an individual can connect your product sales and marketing teams while automating the fan journey. You want to work with a platform which is scalable simplifing your technology stake. You can eliminate manual processes and also automate workflows, holistically look at campaigns as well as manage communication, leads, and contacts, produce and house contracts, bundle offerings, target the correct customer, configure and quote packages together with discounts, plus much more. It is not only creating a more revenue with a better consumer experience but you are also creating a more efficient sales in addition to service knowledge for your internal resources whilst reducing complexity and cost to your back office.
What are the key technology investments for 2023 and beyond?
JL: Over the past 2 yrs, we’ve seen an abundance regarding momentum from sports teams and venues next-leveling their particular digital capabilities and experiences to compete with all the entertainment options consumers possess today. We have been helping some of the largest and most well-known brands in sports. Teams and even venues can quickly and easily bundle offers and generate quotes for sellable assets like premium seating together with event space using CPQ capabilities. CPQ simplifies the particular complex, enabling quotes that can include any number of assets like suites or sponsorships opportunities, sales discounts, bundles, and other features unique to locations and sports activities organization. The best part is this is all native to help Salesforce and additionally completely configurable saving your company money within the long run.
CPQ applications often work with Customer Relationship Management (CRM) platforms, Enterprise Resource Planning (ERP) programs, not to mention other business technologies to ensure integrated data as well as accuracy. Quotes produced using CPQ are automated according to a preprogrammed set of rules, ensuring error-free pricing that will accounts for quantities, discounts, customizations, optional features of products, multiple income types, and also incompatibilities.
According in order to the State of Sales research , sales reps spend just 34% of their time actually selling, and research shows of which part of the sales team’s non-selling time is spent generating quotes and proposals, and gaining approvals. That same report determined the fact that when CPQ is deployed and used correctly, users have reported 10X faster quote generation, 95% reduction in approval time, 2X quicker moving through quote to be able to cash, as well as 30% quicker ramp-up for new sales rep.
Recent trends also include the introduction of a Customer Data Platform (CDP) / Master Data Management (MDM) to athletics teams and venues’ digital technology stack. A CDP enables better customer insights, increased efficiency and productivity for inner sales groups, and a better understanding of typically the customer’s golden record. It consolidates lead and buyer data coming from multiple information sources, not just revenue and advertising data, for the coveted 360-degree views involving buyers.
From concessions, ticketing, web traffic, event traffic, and more, organizations can turn marketing and advertising intelligence info into action-driven content. This particular tailored content helps target the local fan using a last-minute deal to obtain them through the door. Plus you’ll know if they actually walked with the door so you can follow up plus continue their very own experience having a survey or discount on season tickets. Looking to target fans who didn’t make it to the game? Know that abandoned his or her cart in addition to launch this next-best offer.
Systematically integrating purchaser data creates endless possibilities for omnichannel engagements, allowing you for you to go by transactional and even one-off moments to segmented and personalized experiences. In addition, arming your sales together with service clubs with intelligent marketing files will help all of them prioritize who else they talk to and additionally target, further empowering all their workflow, customizing their clientele’s experience, closing more deals, and renewing contracts more quickly.
Final recommendations for business leaders on exactly how to improve stakeholder encounters?
JL: Integrating systems not to mention platforms makes all the difference for that external and also internal user journeys. Connect systems as well as eliminate records silos. Eliminate fragmented experiences by a new digital upgrade and focus on investment to help your business inside the long run, so your customers convert and your own team may close more deals. Put your employees in a position to succeed with the right tools and the proper information at the right period.
Eliminating manual processes and automate workflows will certainly lead to help greater team efficiencies plus improves shopper experiences. This also sets your organization up for future success. The particular right partners with tried-and-true techniques inside implementation in addition to optimization can help anyone get there. Implementing these tools requires immersive planning and road mapping to have often the most impact and be ready for any friction along the way, and it starts by using prioritizing your digital trip.
This article was co-authored by Jason Lumsden, vice president in Verndale .