E-sports will continue its rapid evolution
Annual revenues of $1.5 billion are expected to be generated by the global e-sports market, mainly from sponsorships and advertising for an estimated global audience of 600 million fans. At least once a week, 40 percent of gamers watch esports events. 2021 could be the year when traditional esports franchises fully develop efficient business and broadcast models for their counterparts in the eSports league, provide mass-appealing fan experiences and determine the business model that will have an impact on long-term growth and profitability.
Schools build more one-to-one fan relationships, leveraging direct marketing and CRM strategies not only to drive advocacy and conversational value, but also to leverage viewing behaviors and information that emerge from eSports league engagement to drive greater monetization, awareness, and advocacy. Here, analytics are a key element: better feedback from the audience can not only help build a deeper interaction loop but also draw more sponsorship from the brand. In-game analytics can also give greater engagement because sports statistics are a key part of the fan experience. Deloitte is seeing an acceleration of relationships between teams, leagues, and players as eSports leagues now reach their "junior year," If your curriculum currently does not include e-sports in its sports portfolio, it will do so soon.
The ripple effect of technology on high school sports
When student-athletes are digital natives, balancing the importance and distraction of technology in high school sports can be a challenge. One of the most transformative elements of high school coaching, apart from text communication, is the use of film and video material. Coaches can conveniently customize the film for particular players in addition to game footage, making coaching more individualized than ever. Coaches should submit clips of their edits to athletes so they can watch a play from the viewpoint of the coach. The technology helps recruiters in a larger community to scout more high school athletes, which ensures that more athletes will be scanned to compete at the college level.
Enhanced streaming technologies also allow coaches to speed up the process of closer to real-time reviewing videos, such as recording, editing, and half-time reviewing of game video. Finally, there is an increase in the usage of data collection for team selection by applications that track the success and statistics of individual athletes. This knowledge will assist coaches to put together winning lineups and even make changes to test an opposing team's unique strength. For all levels of success, resources that once seemed inaccessible to programs are now available.
Increasing implementation of BIG Data
Big data is used now more than ever in sports to gain insights into player stats and team success. The way games are played, controlled and monetized is altered by these data-driven insights. As a result, sports data has become a major business: the sports analytics industry is projected to hit almost $4 billion by 2023, according to analysts at Research and Markets, as players, coaches, broadcasters, and rights holders use data to boost efficiency and communicate with fans. The National Collegiate Athletic Association (NCAA) signed a 10-year deal with a U.K.-based technology firm in a recent data monetization agreement to capture and distribute intercollegiate sports data, which is bundled, approved, and marketed to media companies and other stakeholders.
Of course, in conjunction with player unions, it is critical that data monetization efforts are carried out to help reduce the potential for foul play, such as rivals and hackers seeking to exploit person or league data to their advantage.
Restoring fan confidence
Looking forward to 2021 trends, the specter of COVID-19 continues to plague live sporting events in the United States, significantly reducing the ability of spectators to return to stadiums and arenas. In a recent survey conducted by the Stillman School of Business of Seton Hall University, 61 percent of respondents who described themselves as "sports fans" said they would not attend another live sporting event until a COVID-19 vaccine has been produced and distributed.
While enhancing fan engagement has long been increasingly important for sports organizations, the COVID-19 vaccine has exacerbated the urgent need to reimagine how they engage with their fan bases. They must concentrate on harnessing the power of emerging technology to create year-round, two-way relationships with fans. First and foremost, these interactions need to be founded on a firm base of trust.
As sports organizations attempt to navigate the COVID-19 crisis and succeed in the long term, they need to concentrate on four aspects of trust: physical, mental, financial, and digital:
- Can fans believe that it is safe for physical venues (stadiums, arenas)?
- Will fans believe that it protects their emotional and social needs?
- Should fans believe that they are taking care of their economic and financial needs? (some of the fans are willing to take small 500 dollar loans from financial organizations like DIrectloantransfer at https://directloantransfer.com/500-dollar-loan/ just to see their team on a live event )
- Will fans have faith that their personal information is safe?
Sports organizations have an unparalleled opportunity to strengthen their relationships with all types of fans (from casual supporters to diehards) during the year once they have built a stable base of trust.
The New Standard has ended. Sports organizations need to strategically reflect on the current gap, from the playground to the mega-stadiums. Teamwork, teamwork and faith are easy to say and far more difficult to deliver. It will only be effective for those who are in the sports industry and communicate with fans based on these three principles.
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