Globally, there are few industries that match the influence the sports industry has with its fans. The sport captures the attention of an audience of people from different backgrounds, while generating impressive income streams.
The sport itself is big business. In fact, FIFA has announced that it expects to earn $ 6.56 billion as the 2022 World Cup approaches. According to an article published by The Associated Press, “FIFA’s project budget 2019-2022 increases by more than $ 400 million each in broadcasting and marketing revenue compared to the 2018 World Cup in Russia. “
At Imagen, we work with many clients in the sports industry, providing a video management platform for their assets. In addition to broadcasting, the sports industry is also enjoying enormous success thanks to the power of digital content. Our company conducted a survey of 1,866 North American sports fans in October 2019, titled “Switched on Superfans,” and we found that young fans – especially Millennials and Gen Z – want content that fits. beyond live games. Twenty-five percent of Millennials and 23% of Gen Z watch more than three hours of non-gaming content per week.
Sports leagues, teams and players have realized that by offering personalized content such as archived videos, behind the scenes footage and funny clips, they are able to increase revenue and fan loyalty. By going digital, the sports industry has been very successful.
All businesses, regardless of industry, size or shape, can learn from the sports industry to reach and engage their target audiences.
Go direct and social
Direct-to-consumer models are becoming popular avenues for sports rights holders. These models allow rights holders to maintain control over their content while increasing revenue opportunities. In the past, rights holders could only publish their content through traditional broadcasters. By using direct-to-consumer models, they can interact directly with their target audience and deliver more granular and personalized content.
Companies that take this approach can deliver content directly to consumers and their employees through email marketing campaigns, weekly video series, and social media. Users can then choose to interact with the content most valuable to them.
Social media teams know that content needs to be accessible so they can easily promote it to reach new and current users. For example, an organization can create a video that shows how to use a certain product or feature to publish on the website. Businesses may think that putting it on the website is enough, especially if the video is a few minutes long. However, this content can be clipped and embedded in places like blog posts, emails, and digital documents. From there, social media teams can share content natively across major social media platforms.
Additionally, businesses can edit video content for social media purposes, appearing in a 1-minute Instagram video or 30-second Twitter clip. By repurposing an already approved video, businesses make sure they are using their content to its fullest potential without the risk of going over budget. And if a business chooses to leverage a digital asset management platform, it can ensure that content can be shared anywhere, anytime for maximum engagement.
Create engaging and shareable content
Even when businesses lead the broadcast for maximum exposure (consider those Super Bowl commercials), real engagement occurs when consumers can interact and share content with their friends and networks. For example, Hyundai has done a “bad good job” maximizing its “Smaht Pahk” advertising through social channels and public relations efforts.
Having celebrities in an ad can certainly help with engagement numbers, but it’s not the only factor in maximizing the content delivered. Brands can replicate this success by encouraging their customers and followers to engage and share their content. For example, companies can post snippets of broadcast content, promising to post the next teaser when a certain number of likes, retweets, or shares have been reached. By getting consumers to engage with the content, businesses are likely to see an increase in the level of engagement.
Additionally, brands can boost promotions on social media by creating special filters for Instagram or Snapchat, or hashtags on Twitter related to the ad or a larger campaign. By offering features or hashtags that are available for a period of time, it encourages consumers to take advantage of what is available before missing out.
Creating an engaging and positive user experience is the goal of any business, large or small. By focusing on delivering great content to the consumer through digital channels, as the sports industry has mastered, businesses can expect to see the same loyalty from their own “fans”.