The importance of fan loyalty and engagement is extremely
important for an organization, for the exact same reason that the question
asks, revenue generation. When thinking about fan loyalty and how today’s
professional teams engage with them, you must first know how your fans
interact. It is the simple questions of, who are our fans? What is our
demographic? How do they interact? And what are their purchasing habits? You of
course know they are fans of our team by various methods such as purchasing
tickets, coming to events, or subscribing to team related advertisements.
Outside of that, how you engage with them and maintain their loyalty affects
generation.
How this affects revenue generation, is making sure that you
understand what it is your fans are buying and how often. Just as the post from
the Sports
Networker says, “Thanks to the social
media and the increasing presence of sports teams in the digital space,
loyal fans are ‘closer‘
to their teams than ever before.” I began to notice this many years ago myself
and it has become extremely prevalent as of recently. Due to the use of social
networks and media, fans are closer to their favorite players and teams than
they ever were before. This causes for added revenue streams for the professional
teams because now they have other ways to charge fans for more inside access to
their favorite players.
The most
intriguing example that I saw of a team that is looking to increase fan loyalty
is of the Miami Dolphins. Introducing their new initiative the Fin Club
program, they are incorporating a way to interact with their fans in across
multiple medias. Eric Fisher from the Sports
Business Journal says, “The Fin Club assigns fan points for
virtually any Dolphins-related activity, such as buying tickets and
merchandise, following the team on Facebook and Twitter, and visiting the team
website”. I think this is a very good way to reach out to these fans especially
given the extreme consistent usage of social networks. During their launch
phase, the team generated nearly 5,000
sign-ups from their fans. I think that eventually this will lead to an even
greater success for the Dolphins down the road.