Visualizations In Sports Sales Should Be Embraced
The role of visualization when meeting with a prospect is really about how much the sports premium sales space matures. It has been a long, tough road to get to a place where premium sales are at the forefront of revenue generation. Association of Luxury Suite Director’s Founder & Chairman Bill Dorsey reminded me a few months back that the 20 percent of the seating inventory in a stadium, that being premium seating, makes up about half of the total revenue for the entire franchise.
It goes without saying that premium seating is important, especially when it comes to convincing prospects to sign themselves or their companies up for long-term contracts in the arena luxury space. But that is where advanced visualization comes into play in how prospects are sold on the product offerings. It also suggests that most visualization opportunities may be missed if a franchise isn’t careful. Especially when new technologies are being born in the digital space, which may make it easier to deliver those visualizations, on-site, to the prospective customer.
But there’s always a cost that comes into play. And there lies the rub; does the franchise fully back its sales reps with enough financial support in their budgets to have these visualization opportunities created? Or is it a race to the bottom mentality by avoid expenses, thereby relying on old verbalizations by the sports sales rep to overcome the lack of visualizations when selling the prospective customer?
Visualization Beyond Verbalization
An issue with the franchise bean counters is that they are heavily resistant to spending money on visualization materials. Even if it translates into a formal R.O.I. format where prospects can be sold on the product. Consider how few organizations actually pay the money forward by way of setting up an entire suite at an off-site location for a new arena, even when the arena hasn’t been built yet, in order to sell the prospect on the product inventory.
Bean counters may not see the results or may suggest that the expenditures are frivolous, but in reality, visualization matters. Sports sales reps cannot be expected to merely rely on their verbalization of the product offerings. Especially when those products available are of the “experience” variety. The last thing that a sports sales rep should want is a prospective customer ready to buy who wants visualization of the sports product and only provides the verbalization of the options available.
Go Big Or Go Home Mentality
Visualization is really a belief in the product itself. If the franchise cannot afford, nor invest, in showing a full display of the product inventory to prospect customers, it reveals little faith in the product as a whole. While the bean counters may charge that anything above verbalization for a sales person is “too expensive,” in reality, it is the non-visualization that costs a franchise more than anything.
The Sponsorship Deck Realized
Sponsorship decks have a legacy of visualization. That doesn’t just mean in paper print, it can mean in digital form as well. Some of the best digital offers sometimes allow a greater experience than a handout can ever provide. And yet, franchises tend to curb their budgets away from these visualization tools, assuming that it is not cost effective or frivolous when compared to the verbalization efforts of the sales rep. The sales rep can say whatever they want, but it comes down to the belief of the prospective customer in the product. Getting them to see, feel and touch that product matters more than anything that can be said about it.
This comes down to whether the prospect’s imagination is ignited. That’s where visualization helps transform and realize a prospective customer’s imagination, creating a world of what may happen, if they sign now. It may also help the prospective customer sell their bosses, who are the true decision-makers, on why purchasing the product is necessary.
When a franchise bean counter prevents revenue generation, by curbing the visualization and presentation of the product, they are doing the entire organization a grave disservice. It is important to create a line of demarcation, to showcase why purchasing visualization tools for the sales reps are vital to the necessity of building up a case for the prospective customer. Otherwise, the franchise that reduces their visualization tools, is merely costing themselves unrealized revenue through their short-sighted efforts.