Missing Out On Promotional Opportunities Can Be Costly
Every business needs to promote and market itself, whether it be via print ads, the internet, word of mouth or some other avenue. The ones that are successful in marketing and promotions are the ones that take advantage of every opportunity that presents itself regardless of how obscure or insignificant that opportunity may be. Last night, The National Hockey League failed in a major way to take advantage of the perfect opportunity to showcase itself and one of its biggest stars.
For years, the NHL has lagged in all areas behind the National Football League, Major League Baseball, and the National Basketball Association in terms of popularity, attendance, recognition, marketing, branding, revenue, and pretty much all business aspects. Last night was a chance for the league to showcase one the best goaltenders in history as Martin Brodeur of the New Jersey Devils broke the league’s all-time wins record. The league failed terribly to take advantage of such an event to create any kind of buzz surrounding the event, and even failed to have the game televised on their national broadcast on Versus. Now, I do not know if the NHL has some sort of agreement with Versus whereby the games scheduled to be broadcast can be switched the way the NFL has the same agreement with NBC for its Sunday night games, but I am sure that both parties could have benefited from showcasing an historic game such as that one.
How is this a missed opportunity? The answer is simple. For starters, on the most simple level, more promotion would have led to heightened public awareness revolving around the sport. Additionally, record breaking performances garner more attention than regular events of the same nature, as they are rarely occurring. This in and of itself was a promotional gold mine, as both the league and the network could have promoted the game and benefited from the increased viewership and exposure. Secondly, by showing what kind of atmosphere was involved within the arena, it may just have converted some casual observers into fans, which would mean at the very least an increase in viewership for the network. Extended, further it could have meant an increase in actual attendance for live games, which also increases the likelihood of increased merchandise sales.
This is not simply an issue regarding sports,. It is something that all business can learn and benefit from. An opportunity for promoting or marketing a business is ways an opportunity, regardless of how large or small. Adding one new customer, client or member is always better than being stagnant. Always be cognizant of what is going on around you to be better positioned to take advantage of marketing or promotional opportunities and expand your business.
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March 23rd, 2009 at 11:33 am
People do not bother to take advantage of promotion because they do not always know the best way to do it and make it pay off. Locally, they miss all kinds of opportunities. National papers have everyone trying to get at them, but locally, how many times has your newspaper heard from YOU about your business what you have going on?
I recommend at least once a month pitching your local paper, it only takes 5 minutes!
Dr. Wright
The Wright Place TV Show
http://wrightplacetv.com/stimulus
www.twitter.com/drwright1
July 21st, 2010 at 8:26 pm
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