TSL #004: Elevating Consumer Experiences for Sports Business Growth

In the year 2021, the United States witnessed an impressive surge in sports and fitness participation, with a staggering 232.6 million individuals engaging, marking the highest recorded figures since 2016, as reported by the Sports & Fitness Industry Association.

This resurgence in recreational sports involvement, surpassing even pre-pandemic levels, underscores sports and fitness's profound role within American culture. The absence of these pursuits during the pandemic left an unmistakable void, magnifying their significance.

Amidst this backdrop, with predictions of growing team sports participation on the horizon, amateur and recreational sports business owners find themselves at a juncture where they can shift their focus from the pandemic to profit. Tom Cove, the President and CEO of SFIA, asserts that the stage is set for a 2023 business plan that prioritizes expansion rather than pandemic concerns.

However, recent news reports sound a note of caution, discussing challenges like supply chain disruptions, the looming specter of a recession, and the rise of inflation. These factors might instill a momentary hesitation in aspiring recreational sports business owners.

As the prospects of a potential recession loom in 2023, consumers are expected to exercise more prudence with their disposable income, opting to invest solely in products and services that truly resonate. Consequently, the strategic approach here is not to halt progress altogether but rather to take a well-considered pause.

For those keen on fostering the growth of their amateur sports business, the path forward lies in amplifying their efforts to enhance consumer experiences in the coming year. In an environment where a conventional "run-of-the-mill" recreational sports league might face uncertainties, an elevated sports experience holds the potential to captivate a more discerning consumer demographic.

At Ultimate Hoops, we went beyond the ordinary by intensifying its commitment to its brand identity. This translated into adding more game operations staff, elevating the 7-day-a-week experience it offers. Rather than succumbing to the impulse to lower league fees, we raised our pricing across the board as we entered 2022.

The outcome was remarkable: By August of the same year, the top-line revenue surged ahead of 2019 figures, and the flagship 35 & Over Ultimate Hoops National Tournament held in Las Vegas registered a sold-out status within a day.

In order to fortify themselves against the potential impact of a recession, amateur and recreational sports operators must channel their investments into enhancing consumer experiences in the year 2023. While the temptation to cut corners might appear rational, it could potentially place businesses in a vulnerable position should a recession persist in the following year.

In essence, the most prudent approach is to persevere in elevating the quality of customer experiences, thereby ensuring your entity stands tall and resilient within an increasingly astute consumer landscape. Amidst the fluctuating economic tides, the beacon of an exceptional experience serves as your guiding light, leading your sports business through challenges and toward triumphant growth.

Alan Arlt

Co-Founder & Principal Consultant, Arlt ConsultingCo.

Instagram | Twitter | LinkedIn

https://arltconsulting.com
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TSL #005: Unlocking Success: The BLEEP Framework for Launching and Growing Your Sports Business

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TSL #003: Game-Changers: The Key Characteristics of Exceptional Sports Officials