It’s Time for a Mid-Year Review of Your (4S) Strategy

 Posted on: June 28 2018
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By Jackie Reau, Game Day Communications

 

 

There were dozens of informative education sessions at the NASC symposium a few months ago. Now is the time to review your notes and take a pulse check of your strategy as we reach the mid-year calendar milestone.

 

It’s also important to note the enormous (and growing) economic impact of the U.S. sports tourism industry (studied annually by NASC and Ohio University), which now stands at $11.4 billion, a 37% increase over the last four years. Keep these stats in mind as you plan your strategy against metrics.

 

Here are a few thought starters to get you going on the process following the theme of the 4S Summit to review your strategy, services, sales and sponsorship. 

 

First, take a half-day and schedule yourself out of the office so you can have quiet time to think. Head to your favorite coffee shop, library or campus spot for inspiration.

 

Strategy

Plan in Place: Dust off your 2018 strategic plan and update it based on your activity over the last six months. After you make the updates, draft an update to your board of directors and/or your stakeholders to share the updated plan and your progress to date. You might also indicate where you need their assistance in achieving the goals or the remainder of the year.

 

Need to Plan: If you need inspiration for your plan or a refresh to your current strategy, here is an outline to follow as a planning agenda that can lead to your overall plan:

 

  • Objective: Always tie these to the overall business objectives of your organization.

  • Target Audiences: Who are you current clients as well as your prospect clients?

  • Key Messages for Your Target Audiences: What do your current clients need from you to succeed and what do your prospective clients need to close the deal with you?

  • Tactics:

  • Timeline of Activity: What is the time frame for you to complete the strategic plan using a month by month timeline to ensure progress?

  • Budget: What is the revenue plan and what are the overall expenses?

  • Measurement: How will you measure success of the plan tied to the overall objectives? Think about adding a stretch goal too.

 

Another Thought: Create a War Room to plot out your strategy for future event bidding, event creation and/or new service capabilities. Select a space within your office where staff can see the ideas with a timeline of activity so it is always top of mind. As a resource, start with the NASC Event RFP Database to review those events in which you might want to host.

 

Services

Plan in Place: Take a proactive approach with your clients who are hosting an upcoming event in your city. Review your calendar and set up calls with each over the next month or so. Start off by asking them how you can help them succeed, what are they worried about and has anything changed with their event plan. Take this information to your team to address each with a plan to address all items.

 

Need to Plan: Whether or not you have a full slate of events or projects for the remainder of the year, brainstorm six potential new clients. Once you have the list, reach out and schedule a 15-minute call or visit to learn about their 2019 and beyond plans and needs. This proactive initiative will show your strategic initiative and help your prospective new client in the same vein. Even if there isn’t a new business opportunity, reach out to the contacts each month to touch base with a quick email.

 

A Tried and True Idea: Plan an upcoming familiarization (FAM) trip for these new prospects to visit your city, facilities and attractions at the same time of a major sporting event in your city. Invite your key partners to join you and support the FAM trip from hoteliers, restaurants, attractions and events. As you know, it’s important for the client to learn the vibe of your city or region.

 

Sales

Plan in Place: First off, meet/review with your accounting team/accountant/your Quickbooks to determine where your sales goals are year to date. This review will give you a good sense of where to focus your sales efforts for the remainder of the year and which months need a boost.

 

Need to Plan: As you are talking to current clients and listening to their needs, think about how you can offer new resources to them to earn new revenues for your organization. New resources may include but not limited to: on-site staffing, transportation services, and/or photography/videography with live streaming from the event.

 

Another Thought: Think about developing a menu of services (similar to a restaurant) with pricing. Of course, the prices will vary based on the size and nature of the event but you can create a menu such as:

Event staffing: Hourly rates begin at $20/hour.

 

Sponsorship

Plan in Place: In all NASC surveys, sponsorship sales remain at an all-time high and opportunity for members. The key to success in selling sponsorships is creating mutual value with the organization and the sponsor. Take the time to review your benefits package as you have sold to current clients, and determine how you can over deliver to enhance the relationship.

 

Need to Plan: If you are building a sponsorship plan, start with research now to understand the landscape of other events and current sponsors.  There are many sponsorship resource platforms to consider for research and prospecting. One such source is SponsorPitch, an online sponsorship platform providing news, intelligence and analytics to help professionals connect with sponsors and marketing partners.

 

I found SponsorPitch when I was working on the World Cup 2026 Bid for Cincinnati and found it to be very helpful. Check it out and see if it will help you with your sponsorship outreach.

 

I hope to see you at the 2018 4S Summit in Cleveland from October 23-25. Registration is now open at www.sportscommissions.org/education/4s-summit.

 

 

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