Attracting Fans in a Down Economy

As we go through the process of an election year, we are all reminded that we are in a “down” economy or a recession. The entertainment industry has seen lower box office revenue and as prices go up at the gas pump and in the grocery isles we are all feeling the pain in the wallet. That is with the exception of many sports teams. A recent article by the Federal Reserve Bank of Atlanta spells out how many teams are not experiencing the same issues of the entertainment industry and sports are still bringing in the fans despite the economy. The Florida Gators are one of those teams that are not experiencing any issues with the down economy.

          

Living in Florida for the last year and in a city with a football team often rumored to be moving to Los Angeles, I can see the creative ways that teams are attracting fans to sporting events. The Jacksonville Jaguars created a program called "Teal Deals" for their season ticket holders. Teal Deals offers $2000+ discounts at local merchants and restaurants. A program like this is a win-win for everyone.

Things like Groupon and LivingSocial, also called daily deals can work for sporting events and running events. Your daily deal might not be a discount on the entrance but a limited opportunity at the expo. Creating a “runners” experience at the expo or on race day won’t take from your registration fees and can provide additional revenue opportunities on race day. Think an exclusive VIP tent with massages and heat before and after a Half Marathon, a place to meet friends and family where you can also offer concessions, merchandise and registration for your next event.

A down economy makes business look for creative ways to drive traffic into their stores and restaurants. Sports teams and fitness events are no exception.