The question we are answering is, should you invest in a sports CDP if you have a limited budget? The answer straight away is a resounding yes. Although this might sound counterintuitive, it’s those with limited budgets that especially need a sports CDP. Why?
Because a sports CDP is going to help you:
- Increase your income - so why would you choose to not invest in something that is going to help you reach your bottom line faster? These are all these ways you can increase your income with a CDP
- You can leverage your supporter data to boost your sponsorship value. And we all know that sponsorship is one of the biggest income generators for sports organizations. Using data insights from your sports CDP, you can find your supporters’ brand affinities and use these as proof of return on investment when approaching potential sponsors.
- Better segmentation and personalization will help you sell more tickets and merchandise. The biggest hurdle sports organizations face is continually filling out the stadium. And if you are a smaller club without a big name/brand behind you, it may be even harder for you to sell merchandise. With a CDP, however, you will get to do precise segmenting that will help you know who you are targeting with your tickets and then through personalization, you will be able to communicate with them effectively. You will therefore be able to generate more income by selling more tickets and merchandise and filling out the stadium at every given opportunity.
- Most sports organizations make the mistake of thinking, “our fans will buy tickets because they love us and they want to”, but the truth is, there are a lot of things competing with you for your supporters' attention. Instead of buying a ticket to one of your games, your supporters could be going to the museum, or cinema, streaming a movie, whatever the case. And just as much as you have a limited budget, they have a limited budget. But the CDP can help you with this. With a CDP, you can keep track of the supporters who have already bought tickets and those who haven’t so you can keep reminding them to purchase a ticket. When you make it easy for your supporters to buy tickets by sending them reminders with links to make the process easier, the chances of them actually engaging with you are much higher. And in this case, higher engagement can lead to higher income when more and more fans buy tickets.
So in a nutshell, having a limited budget is not an excuse to not buy a CDP rather, it’s all the more reason you should buy a CDP. So you can make more money.