The sports industry has been transformed in a few years, income has grown significantly and, consequently, the management of sports properties has increasingly incorporated more processes from the business world. This need to adapt to new needs and not be left behind in an increasingly competitive and global environment requires innovate in the design of marketing strategies to increase brand value, gain a foothold in new markets and generate more business.
“The diversification of income is crucial to ensure the financial sustainability and long-term growth of these clubs,” says Juan José Muriel Falantes, professor of commercial management and negotiation in the Master of Sports Marketing at ESIC Business School. The growth of sports organizations involves both expanding their reach by reaching new markets and offering new services.
High competition, and football especially, has built its business highly leveraged on television revenues. The valuation of these rights, rising almost uninterruptedly since the 2000s, seemed to have no end and their importance has meant that, on occasions, not enough space has been left for innovation within large sports properties. Now, in a context of changes in consumer habits and new opportunities in digital environments, the audiovisual business has stabilized and the sector has had to rethink some of its business strategies. But, How do clubs innovate to make their brand more valuable?
This is one of the central topics of debate at the SPORT BUSINESS SUMMIT of ESIC Business School that will take place on June 13 in the Ágora Room of the Juan XXIII Campus, 12 in Pozuelo de Alarcón. The event will explore opportunities in the sports and sponsorship ecosystem by bringing together sector professionals to share success stories and discover the most emerging trends. The SPORT BUSINESS SUMMIT will feature presentations, round tables and talks that will address topics such as digital transformation, activations, Artificial Intelligence, sustainability in sport, Fan Engagement and innovation and technology.
First of all, we must bear in mind that the battle for attention is being fought on an increasingly global game board, in which sports entities must compete to retain their fans with an increasingly increasing number of leisure options. high. Added to this are other factors such as the increase in operational costs, pressure on sports salaries, the need for investments or the transformation of the audiovisual and entertainment market itself. Hence the use of metrics that guarantee that sport continues to be one of the great commercial platforms to impact the audience.
“20 years ago, the marketing and communication department of a sports club was an expense. Today it is an investment measured with ROI and a scorecard that is constantly analyzed. Therefore, it grows as the market and its demand evolve,” says the teacher. In this sense, the professional profiles demanded by the market require extensive knowledge of the sports market, customer or fan orientation, relationship management, strategic thinking, analytical skills and project management, among other skills. All of this depends on a business unit, so the structure is organized in the image and similarity of what happens in the business world. “Sports clubs have had to professionalize revenue collection to make them grow,” he adds.
In this sense, clubs have been immersed in internationalization processes for many years that allow them to grow beyond their domestic markets. This activity has accelerated in recent years, with the celebration of friendly matches, summer tours or the opening of academies. In the world of football, the United States and Mexico are El Dorado in which clubs and competitions seek to grow with a view to the 2026 World Cup. It is no coincidence that LaLiga and Premier League have already taken sides by creating their own preseason tours in the North American giant. .
The profiles in demand require knowledge of the sports market, customer orientation, relationship management and analytical skills.
The idea is to try to replicate the International Champions Cup model, and it is the previous step to exporting games of the season to other parts of the world, something that the NBA or the NFL already do. An opportunity to continue growing in key markets and attract new fans. Furthermore, the majority of sports properties already have an international presence thanks to the deployment of football academies and schools, which, in addition to attracting young talent outside the national sphere, also contributes to increasing their brand value in certain territories and attracting new sponsors. regional.
Beyond the stadium: growing in the digital ecosystem
Likewise, the current digital ecosystem offers multiple options to innovate in content production, generate new advertising media and monetize them by attracting new audiences who have social networks as their main means of entertainment. The ESIC Business School professor adds that “clubs have invested in the production of attractive digital content, such as videos, documentary series and exclusive content on social networks, to reach a global audience and generate income through sponsorships and advertising.” .
An example of this is FC Barcelona’s contract with Spotify, an association that connects the world of music with football and which has proven to be a strategic alliance for both parties. The platform of streaming makes the artists of the moment known through activations, while the football team has been able to take advantage of the agreement by launching merchandising specific with his collaborations with Rosalía or The Rolling Stones. In this sense, clubs can also increase their e-commerce footprint with personalized products through their online stores, allowing them to increase their sales around the world.
On the other hand, sports organizations are aware of the importance of differentiating their value proposition from that of the competition by offering new service and product offerings. In the digital field, without going any further, there is an infinite universe of opportunities. Whether through the metaverse, NFTs, or the gaming, these types of platforms often become the gateway for traditional sports properties to generation Z. These digital environments are a tool to connect with an audience that escapes the radar of traditional broadcast channels. This is how the esports sections of LaLiga clubs emerged, through which many properties approached new sponsorship models that adapt to the needs of digital communication.
The Barça club itself is one of those that has given the most weight to the creation of digital content with a division specifically dedicated to NFTs and digital experiences. In fact, Barça Vision, in addition to incorporating any type of initiative that incorporates digital collectibles, metaverse, web3, virtual reality and augmented reality, also contemplates hybrid events that combine digital with physical assets, such as VIP experiences or limited collection items, or the celebration of concerts.
Nor can the increase in investment in the creation of multimedia content be overlooked. Here they come from the phenomenon of docuseries, to podcasts, reports, advertising or other types of shared content. A very effective way to convert sports entities that until recently had a strictly local interest into global products.
Clubs find in the digital ecosystem a gateway to generation Z
Of the matchday to the meet & greet
The relationship with the fan has been taken to the next level beyond match day. In addition to transforming income matchday With all kinds of initiatives in the stands that improve the fan experience in the stadium, it is increasingly common to organize exclusive activities beyond the stadium that have increased the VIP and hospitality offer.
Among them are meetings meet & greet with the players, events, virtual tours, autograph signings and other types of innovative experiences that provide additional income to the institution. Is about a segment that has not only evolved in the B2C field, but the relationship with companies has also been strengthened through so-called company boxes, conferences and corporate events, as well as corporate social responsibility programs and the rental of spaces for private events.
This is the case of Atlético de Madrid, which in five years has managed to value an investment of 330 million euros in the Cívitas Metropolitano thanks to the exploitation of new infrastructure in the stadium. Likewise, Muriel Falantes points out that “some clubs offer consulting and advisory services in areas such as sports management, talent development, sports marketing and stadium operations, providing companies with access to their experience and knowledge in the soccer industry.”
