When teams began adopting an analytics-based approach to their sales and sponsorship strategies, many executives thought the purchase of a Customer Relationship Management (CRM) system would solve all their data needs.
In fact, the CRM was seen as a de facto data warehouse. A lot of data was being poured into the CRM, which would get bogged down very quickly. It also limited the team’s ability to produce effective reports.
But when the storage of data is moved into a warehouse, the CRM can become an important activation tool for teams to use in a broader data management system. A truly effective warehouse will touch all levels of the organization, from the owner and president to the sales reps.
During a recent KORE Software Customer Insights Webinar attended by sports and entertainment professionals, two executives from the San Antonio Spurs discussed their use of the KORE Software platform, including the data warehousing system:
- Jordan Kolosey, Director of Business Analytics and Insights
- Momin Ghaffar, Manager of Business Analytics
They shared how the Spurs have increased their efficiency and interdepartmental collaboration. They also discussed several tools they’ve used and benefits they’ve received from the system.
Data Analytics Philosophy
The development of the Spurs’ data warehouse was important to the early success of the data analytics department. The staff wanted to move quickly and stay within budget.
Their philosophy revolves around a three-step process:
- Data collection and standardization
- Data analysis and creation of insights
- Implementation and distribution of insights – the “why are we doing this”
Spelling out this three-step process helped demystify analytics for the senior executives, showing them it’s a science.
In order to take action on the data collected and stored in the warehouse, a robust reporting system is needed. The Spurs use three primary types of reports:
- Standard bread-and-butter reports for executives – the highest levels of reporting – includes overviews of budget and revenue, such as tickets, suites and sponsorships
- Event-by-event overview of results, ratings and food and beverage revenue – includes how these data points trend over the course of a season
- Executive overview of arena and operations key performance metrics – includes a game-by-game analysis and comparison of multiple transactions, such as ticket scans by type, food and beverage breakdown and Nielsen ratings
But a report is only effective if it’s used. The data analytics staff didn’t want to overload Spurs’ executives with more reports than they needed, so they created specific user privileges so each executive only receives the reports they want and need.
The team’s ticket scans visualization chart shows the entire revenue that is generated on a seat-by-seat basis. When that is compared with the secondary sales visualization report, they’re able to see which tickets may be underpriced, how much revenue is lost and how much of a revenue opportunity exists. With that data, they can see where there are opportunities for pricing revisions by identifying price levels or price codes that may not be priced appropriately.
Pipeline Management and Sales Efficiency
By tracking new sales by rep, the team can determine what products the reps are selling and where they’re tracking against their goals. It’s a powerful tool in being able to segment sales by each rep and determine the overall effectiveness of the sales force and how they’re achieving their goals.
As the Spurs continue to evolve with the use of the KORE Software Data Warehouse & Analytics application, they want to look at concession kiosks and determine where there are transaction depressions and transaction density. They want to put the KORE tools into place to help them understand the underlying consumer behavior and psychology that could unearth an entire new revenue stream. And, they want to determine how they can configure the arena to get fans their concessions and then to their seats on time, thereby improving the fan experience.
But it all starts with user adoption. And getting that adoption from the top down allows management to see the ROI, not just by the reports coming across their desks, but also by mid-level managers who are happy with the reports and results they’re getting out of the system.
If you’re looking for an innovative customer relationship management and business management system that drives sales, streamlines business processes and takes profitability to a new level, you’ll want to check out the programs offered by KORE Software.
KORE Software has more than 10 years experience working with some of the most valuable sponsorship and admission-based brands in the world. We offer a comprehensive suite of tools for Ticketing and Fan Engagement, Sponsorship and Partner Engagement, Suites and Premium, and Data Warehouse and Analytics.
See how we can help streamline your sponsorship sales and activation efforts or deepen your fan engagement with our specialized software applications.