During a specialized task force, more than 75 participants attending the Doha Goals Forum discussed various ways that sports could be made more profitable and more valuable as a marketing platform for businesses.
During the session, a number of areas were identified that could help achieve these two objectives. From these, three were selected as having the greatest chance for positive impact. They included:
· Using stadiums and sports assets for other purposes besides sports, and enhancing the stadium experience.
· Using media to engage and grow the fan base.
· Exploring new sponsorship opportunities.
Then the taskforce was asked to identify barriers to these three objectives. Following discussion, a list of nine barriers was developed. Then participants were asked, “If effectively dealt with, which three barriers or root causes would solve the most problems.” The top three were:
· Stadium design limitations, scheduling issues and conflicts.
· Monetization of social media.
· Difficulty in measuring return on investment on sponsorships.
During this first meeting of the taskforce, the objective was to identify challenges and barriers to achieving the taskforce goals, while the second meeting of the taskforce, set for Wednesday, will identify specific solutions.
The taskforce discussion was led by a panel of experts, including Simon Chadwick, Professor of Sport Business Strategy and Marketing at Coventry University in the United Kingdom. He observed that currently there is one model for sport practiced in North America and another in Europe. However, “in the 21st century, the model may be different again from either the European or North American, and this will have implications on where revenue is generated and how sport is developed commercially over the next 10 to 20 years.”