Oh, no! Not my sports tickets!
Author | Heffes, Ellen M. |
When news broke that General Motors Corp. was ending several sports sponsorships, it became evident that, as companies adapt to a tightened economy, even the lucrative world of professional sports is susceptible to corporate budget cuts.
GM may be a special case, but bailout or not, many financial executives are likely re-evaluating their sports-related expenses. Season ticket allotments for entertaining clients and attracting prospects is a category that is facing considerable scrutiny. Maximizing or even calculating the return on investment for these expenses is difficult, making them a likely budget casualty.
However, without proper evaluation and management tools, this expense--and sales tool--may be getting cut prematurely, claims John Wallace, general manager of RazorGator subsidiary Ticket OS, an on-demand sports and event ticket management software and services firm. This could be so, especially now, he says, when winning and retaining clients and partners is more important than ever.
"Many companies considerably underestimate the value of their ticket allotments, usually because of poor evaluation methods," says Wallace.
Or, he adds, "the evaluation may be there, but ticket management is inefficient."
To help corporate decision makers activate their ticket allotment to maximize ROI, Wallace offers these tips:
* Evaluate reporting methods to ensure tickets are used properly. Often, ticket misuse can be avoided by developing an approval method...
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