The cornerstones of sports have always been the passion and loyalty of their fans. However, outside of the stadiums, sports events have also become a thriving business based on information. Clubs are no longer relying solely on ticket sales and broadcasting rights. Instead, they utilize carefully selected data to better connect with fanbases, and generate new sources of revenue.
Using data that shows new ways fans are engaging in sports, reformed the way events are marketed and monetised, making it one of the fastest growing sectors in the entertainment industry.
From passion to business
Sports is one of the most profitable industries in the world. Major leagues now operate like multinational corporations. They have multiple streams of income, from tickets, merch, sponsors, and recently, online platforms.
Cheering at the stadiums and buying replica jerseys shifted to new ways to consume sports. Live matches on the Sportsbet betting platform, social media, fantasy leagues, highlights, and apps are capturing the attention of today’s fans. Teams and brands understand that to keep fans engaged, they need to meet them wherever they are. This triggered an entirely new approach based on data about fans’ behaviours, which proved to be just as valuable as the sports themselves.
How data became the driving force
The explosion of digital platforms has given sports organizations access to more information than ever before. Every purchase, view, like, dislike, and every click on the platform leaves valuable data that can be harvested and analysed for future marketing campaigns. Monitoring which player gets the most attention on social media or tracking mobile app usage during live matches, helps teams to have a clear picture of their audience.
This means that football clubs in Europe use collected data to see which fans are more likely to buy tickets and which ones prefer watching live streams from home. In the NRL, teams are tracking performance from wearable devices, but it’s also used to offer fans real time stats and interactive rugby odds on betting markets. Streaming services found this information of great value to further personalize UX, recommend other sports or offer behind the scenes content.
Lately, everything in sports marketing revolves around data. On one hand, fans want more than just idly watching matches or buying merchandise. However, sports organizations and betting platforms need more information in order to offer something beyond live streams an insight into fans habits and preferences. When the two needs clashed, we got the business that now centres on delivering exactly what each fan wants, often before they even know they want it.
Personalisation and the new fan experience
The biggest change in the sports industry is coming from the fans themselves and the new ways they choose to interact with their favourite teams. The popularization of online sports betting sites created a direct link between sports brands and their audience.
Streaming and social media platforms are now serving the fans with highly personalized content. Every fan will get the match, highlights, latest stats, news and merch on their feed from their favourite team. Fantasy sports, being that fans are creating it, can take this even further by giving fans live data allowing them to manage teams, track performance, and make decisions based on live statistics.
Fans who prefer watching live matches from the stands are not being left out either. Venues nowadays are equipped with sensors that can offer customized recommendations for food, and merchandise. During halftime, fans can now watch live stats, buy merch, order food or watch replays, hence turning passive watching into an active participation.
The role of social media and second screen trend
Social media personalities, in order to grow their following, introduced second screen culture that quickly found its supporters. This means that watching a match on TV is not enough anymore, so fans found a way to entertain themselves by having a second screen, like a tablet or a phone to track live stats or betting odds.
Streaming platforms are now critical tools for sports clubs. They use them to live stream press conferences, promote upcoming matches, share highlights, and pique the interest with some exclusive behind the scenes clips. This keeps fans connected and entertained way before the match starts, and far beyond the last whistle sounds. For younger audiences who are fans of short forms, this content has become just as important as the live broadcast.
Sports brands are also adapting to a new wave of fans that demand modern approaches and the latest technologies as part of their user experience. Let’s say a fan is watching his favourite football team playing in the finals of the Premier League. In case his team wins, sports brands are going to jump on the opportunity to immediately offer clubs merch and tickets for their next match. The chances are, many people would buy both, while still in the euphoria of the latest win.
Sports betting and interactive engagement
Betting became an integral part of every sports event. For fans, it’s a way to express their sentiment and test their intuition, while still having a chance to collect winnings. Today, sports betting is legalised in almost every corner of the world, and sports enthusiasts are taking an active part in guessing the next champions. Data, once again, plays a huge role in the expansion of sports, sports betting platforms, brands, sponsors and every other moving part in the sports marketing industry.
Betting platforms offer live odds and personalised suggestions based on the team’s performance and statistics. Some platforms integrate directly with streaming services, allowing fans to place bets while watching live matches.
Sports teams, and leagues have also partnered with betting websites to further understand fans’ interests. A prime example is displaying live odds in the corner of the screen while the game is still ongoing to get the fans to engage in betting even though their team is not playing. Watching, playing, and participating are all bundled into one cohesive system that gives audiences a unique new way to interact with sports.
Sponsorships and brand partnerships
Before online betting platforms took off, sponsors largely relied on the visibility of their brand’s logos. Today, they have bigger demands and expectations from teams.
Using data gathered from fans’ habits and inclinations, teams give sponsors priceless information on the audience’s demographics, and purchasing habits. Brands use this to create more effective marketing strategies that will specifically target the fans’ needs. This way, for example, a beverage company will push its product to people who are already inclined to buy it based on the collected information.
Passion meets data
Every aspect of sports is powered by data. The method of trial and error is rarely used anymore. Most companies, whether they are a betting platform, or a retailer, put their trust in information provided by sports clubs.
For fans, this has been a great experience so far. They can now grab the best offers, discount prices, and streaming subscriptions. Sports organizations are also reaping the benefits of data harvesting by giving fans exactly what they’re searching for.
In the future, data driven fan engagement will remain one of the primary focuses of the sports industry..
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