Sports CRM: Higher Renewal Rates with Proactive Renewal Forecasting
In the world of Major League Baseball (MLB), it is possible to increase sales and service results if you correctly utilize data with a Customer Relationship Management (Sports CRM) system and focus on Season Plan Renewals.
In order to maximize renewal rates of existing plan holders, it’s important to establish and understand the driving forces that motivate customers to renew. Generally, team performance is a big factor for individuals, while services, benefits, and in-game experiences may matter more to corporate customers.
However, something that is important regardless of whether the team is winning or not is the state of the relationship between the team and the fan. Achieving an amicable relationship on this front can be achieved by managing and increasing touch points with all Season Ticket Holders. This can be done through phone calls, personalized messages and details in invoices and surveys, as well as through other interactions.
Consolidating customer information and contact history is essential to providing a very personalized experience. Providing the representative with up-to-date customer information, purchase history, and past communications with the team will make the interaction easier and more natural for the representative, as well as more meaningful for the customer. Many organizations use data from their Ticketing Systems, Customer Appends, renewal scores, customer surveys, and their customer interaction tracking information to create a full-view of the customer. This allows the organization to define customer habits and their likelihood to either renew or give up their tickets.
In order to overcome all of the hurdles and provide a seamless experience for your representatives in their relationships with season ticket holders, you must create a simplified experience through automatic processes. What does this mean? It means providing the representative with a single-screen with all relevant information that is easily viewable. This screen may contain different information for different teams, including different roles within the front office. Different plan’s purchase information, financial data and interaction history are all valuable pieces of data to the representative when making phone calls to the fans.
By simplifying the huge flow of data into a usable format, and empowering the representatives to make informed decisions while improving the quality of their relationships with customers, you will be taking the first step towards higher renewal rates and happier customers.
To learn more about Sports CRM, please watch our webinar or visit our services page on CRM for Professional Sports teams.