By simply looking at the never-ending popularity growth of the professional sports and gambling worlds, you can learn a lot about successful marketing.
In the business world, marketing has always been one of the key components. There are countless examples of efficient and model marketing, and the sports world has long been a prime example of this.
Take a look at sports betting, which has enjoyed a massive surge since the Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA), which had previously outlawed betting in the United States.
Here are some other useful things you can learn in marketing through the sports world.
Knowing Your Audience
Super Bowl 57 in February between the Kansas City Chiefs and Philadelphia Eagles featured several ads regarding the game’s betting line, moneylines, prop bets and more.
With the Chiefs in the big game, it was easy for apps like Caesars Sportsbook Kansas to promote themselves and entice fans to place wagers on premier events like the Super Bowl. Right now, Caesars Sportsbook Kansas is offering new customers a first bet refund of up to $1,250 plus 1,000 in Reward Credits and 1,000 in Tier Credits.
Let’s say you’re a fan of the New York Yankees. If you follow them on social media and/or sign up for a fan account somewhere, you’ll automatically receive ads and offers on things through email, Facebook, Twitter etc.
If you’re watching an NBA game, for instance, you’ll notice frequent ads from sportsbooks — such as the current betting line, the over/under totals and more. They’re appealing to basketball fans who may feel intrigued about the idea of placing a wagers.
Targeting Your Audience
Sports leagues, teams and betting apps keep it simple. They know how to target their audience.
Let’s say you run your own restaurant and are looking for ways to increase exposure to your business. Through tools like Instagram, Reddit and touristy apps, you can find bloggers and food critics who are always looking for new restaurants to try out.
By following them on social media, you can easily connect and even see if they’ll help promote your business.
Social Media Is Your Friend
Several billion people use social media around the world. Just look at any major company, sports team, league, etc.
They have millions of followers who check out their social media activity on a daily basis, making advertising all the more easy. If you’re a fan of a certain sports team, you can sign up for newsletters through the team’s official website and learn about special game deals, promos, offers and much more.
So let social media be your friend. Use things like LinkedIn, Facebook groups and Instagram or Twitter hashtags to promote your business and reap the rewards.
Rewarding Loyal Customers
Check out the top available sportsbooks across the U.S., and you’ll find one common factor: They’re all offering special deals to new customers upon signing up.
Usually, the promos feature risk-free wagers of a certain monetary value. Top sportsbook giants like DraftKings and Caesars feature loyalty programs in which customers receive more and more perks over time.
If you run a store or online business of some sort, you should consider loyalty programs as well. Maybe that means if a customer buys something from your business X amount of times, they’ll get a discount or even a free product on the next purchase.
Capitalize On Timing & Opportunity
They often say, “Timing is everything.” That’s certainly the case in the world of marketing.
You need to keep an eye on the prime opportunities to promote and highlight a certain product or aspect of your business. With the NFL season three months away, you’ll notice a plethora of promos and advertisements from top sportsbooks, for example.
If you run a restaurant with a nice patio area, you’ll want to endorse it during the glorious summer days. If you run a sporting goods store that excels on baseball equipment and such, you’ll want to promote it during the spring as the season draws closer. In marketing, timing is indeed everything.
Finding The Right People To Endorse Your Product
Where would Nike’s shoe economy be if not for Michael Jordan and the “Air Jordan” product? What if “Mean” Joe Greene didn’t star in that iconic Super Bowl Coca-Cola “Hey kid, catch!” commercial?
Take another look at today’s sportsbook commercials. You’re always seeing top athletes and A-lister celebrities taking center stage.
When it comes to endorsing your own business or product, you obviously don’t need celebrity help to succeed. But finding well-known and highly-regarded people in your community to help endorse your business can go a long way.