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 /CNW/ - 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
pr@infotech.com.
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
pr@infotech.com.
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 pr@infotech.com.
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