A survey conducted in 2019 by PwC, unveiled that 94% of global sports leaders of the industry believe that innovation is important or very important for organizations, that is to say, almost unanimously. The logic is simple: in a market where the demands and the presence of consumer opinions is increasing, those who innovate have the upper hand. Whether using new technology for game analysis, launching new products or even management methodologies, innovation creates increasingly agile environments and, above all, is ready for world changes.
The coronavirus pandemic has altered several personal and consumption habits, the most notable of which is the growing presence in the digital environment. This impacts the way the sport is consumed, hence organizations need to quickly adapt to the new era and experience of fans, as well as adjust to new environments and generations to come.
Within this context, Europe's leading basketball league launched, in July, a fund to support and accelerate the digital transformation of participating teams. The league is already well recognized for several innovative projects such as the Reporting Hub, the ranking and awarding of teams that perform better in business, the sharing of good practices and Fan XP, a challenge of innovative solutions to improve the experience of fans together startups around the world.
In addition to the fact that the pandemic caused, according to Euroleague, a loss of 30% in revenue of participating teams, business director Roser Queralto believes that:
“With the launch of the DTF (Digital Transformation Fund), we’ll be further supporting our teams in all their efforts to improve their business operations and develop a solid backbone for all of their in-house and fan-oriented operations”
The new initiative was opened in a public notice format and 12 out of the 18 teams have submitted their projects with all the necessary details, being evaluated by Euroleague and by a consulting company specialized in this, N3XT Sports. For 2 years, the fund will support projects ranging from creating applications, ticketing actions, modernizing current systems with a focus on analyzing consumer data to loyalty programs that will rely on specialized mentoring for the development of individuals.
There are clubs like Real Madrid, Bayern Munich and CSKA that may have support from the institutions that lay the groundwork to face these changes, but that is not at all sustainable in the long run, wouldn’t you agree? Therefore, it is of the essence that each organization promote initiatives, have a professional, sustainable governance and be prepared to face any adversity, be it inside or outside the court.
Thus, the Euroleague reinforces its focus on creating solutions and improving every day the experience of its main stakeholder, the fan! Especially in a new context where more people are in the digital environment and the entertainment needs, probably even greater, makes the race for attention, adaptation and naturalness of this change, increasingly necessary.
Again, the logic is quite simple: organizations that innovate, survive and excel. And the Euroleague has been gaining momentum throughout the world basketball scene.
