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An Analytics Based Pricing Strategy for Sports Franchises
Maximize revenue and enhance fan experience through analytics
Are you leaving money on the table every season? Many professional sports franchises are, so you're not alone. That said, what can you do about it? As it turns out, plenty.
Five nuanced views of pricing decisions
Explore five nuanced views of pricing decisions for sports franchises which could help maximize revenue and enhance fan experience:
- Fans aren't looking for transactions: They want an experience
- Dynamic pricing doesn't mean charging more for everything: It means charging the right amount for everything
- Not all customers are the same: A sixty-year-old grandfather and a twenty-one-year-old college student have different interests, wants and needs while attending a game
- Promotional effectiveness matters, even if it can be hard to measure
- Analytics can help you identify the appropriate pricing and contract structures for sponsorships, stadium naming rights, media rights and non-game-day events