As a young professional in collegiate sports marketing working on her first ticketed sport, the words “revenue generation” are ones that still present a bit of a question mark to me. How can I make an impact?
I am lucky to be surrounded by an amazing, creative team, but I am always looking to take on challenges and find my own way, as I am sure many young professionals are. While I may not have all the answers, here is some advice I can offer other young professionals when thinking about revenue generation:
- Ask questions! There is nothing wrong with not knowing something, as long as you are willing to learn about it. We are working in an academic setting, after all! Ask questions about what has worked best for your sports in the past in terms of generating revenue, and ask what has not made an impact. The big “R” word can be a bit daunting, especially when you are working with your first ticketed sport, but asking questions and learning from your colleagues is the best way to make a positive impact.
- Sometimes, simple is best. At Maryland, as part of our group sales efforts we offer “Fantasy Plan” t-shirts to groups. Everyone loves a t-shirt from a sporting event, and offering reasonably priced t-shirts to groups coming to enjoy our sports has proven to be an easy way to generate revenue each week. Revenue generating ideas do not always have to be big, outside of the box ideas; sometimes offering something as simple as a t-shirt is all you need!
- Exclusivity is always a good sell. For women’s basketball, offering an exclusive experience to groups has impacted our revenue generation in a big way. At Maryland, we offer party spaces for each game in several of our suites, complete with food, cake, and a visit from our mascot. Fans always value exclusivity. If there is a special experience or space you can offer a fan, I promise they will take it!
- Share your opinion! I often find myself quiet in a room full of people. As a young professional, it’s tough to find a balance between listening to learn and sharing your opinion to grow. But you should know that you are in the room for a reason! Learning to share my opinions has been extremely valuable and rewarding and it will help you grow. Be confident and share your ideas -- you will get rewarded for it!
To all the other young professionals out there, good luck! I’m happy to help in any way I can, and always willing to hear your ideas.
-@gilmore_claire