Stadiums and venues need to become smarter about increasing fan engagement and adopt IoT at a progressive rate. There are a few stadiums such as Levy stadium that have adopted Internet of Things (IoT) to increase the consumer experience and enhance fan behavior.
With the adoption of Big Data & analytics and more affordable sensors the data collected is even more valuable and provides data points, trends, and enhancing the value for the consumer with wearable technology.
With attendance being down at many sports stadiums across the country. Sports teams are trying different sales programs without any data and they are just not working to increasing revenue. Teams should adopt technology quicker and provide IoT to increase engagement which will quickly monetize the fan experience.
Fans expect products to add value to their lives – whether in the form of convenience, reliability, privacy, or efficiency. This increasingly demand needs to force sports team to get away from the traditional way of doing business with selling tickets, concessions, merchandising, parking and other tangible products. away from the traditional approach of producing, selling, and delivering a tangible product.
Adopting IoT with advanced analytics will provide sport teams with a deeper understanding of the fan, security, privacy, convenience, stickiness of service to increase incremental revenue. Internet of Things is a highly sought-after customer experience that all stadiums should be providing to the fan.
With the help of advanced analytics, decision makers can dig deep into this data and gain insight never thought possible. On the flip side, the traditional market will need to rethink how it treats consumers along the way – choosing concessions to drive additional value. If you have a sports stadium and customers IoT applies to your business and the cost to implement is not expensive project.