Continuing PTI‘s mini-series on insights from our Sports Leadership Benchmark which will be published next month we turn this week to looking at marketing efficiencies.
“Engagement” is such a hot topic in our industry but very often we find that some people don’t actually know what it means: whom they should be engaging, how or to what end? We have a hypothesis that for many sports organisations, huge amounts of time and money are being spent but with very little (at least demonstrable) return and the data from our survey supports that view:
💰 81% said that they did not measure the lifetime value of their customers
🤝 67% said that they did not measure their cost per new customer acquisition
In basic terms, this means that the overwhelming majority do not know what they are spending to acquire new customer data nor do they have any understanding of what those customers are spending. Could “Engagement” actually be costing you money?
Lord Leverhulme famously said that he “knew half of his marketing was working, [he] just did not know which half.” That was perfectly acceptable two hundred years ago but it absolutely should not be the case in 2024.
As with all these insights, whilst at first glance they may appear to be quite negative, flipped on their head they represent a huge opportunity for both cost efficiencies and revenue growth.
The full report will be available in October. You will be able to download it from www.ptidigitalgroup.com
