There’s a reason why fan retention is so low among many sports teams, and it’s not just bad play on the field or a bad economy.
It’s about a core lack of understanding about what drives fan satisfaction and loyalty. Too many individuals who are charged with keeping up revenues are purely marketing or sales-driven. The key word is “purely.” Executives in these roles don’t often enough have training in client retention, understand a strategic view of retention, or think “long-term” when they map out retention plans.
Maybe it’s because MBA schools rarely teach customer service and customer retention principles. Maybe it’s because serving someone isn’t as sexy as closing a new deal. Maybe it’s because they don’t understand the true financial impact of retention strategies, research, and structures. Maybe it’s all of the above.
But if organizations want to be successful long-term…consistently…they need to understand external retention strategies and the internal structures and culture to drive those strategies.
They need to have dedicated leadership in charge of retention, incented on retention, trained on retention, and motivated by relationship-building and retention.
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