One word kept popping up continually at the Association of Luxury Suite Directors’ mid-July conference in Manhattan: Flexibility.
That word was rarely associated with any aspect of the live sports premium experience in the past. But a new generation of younger buyers entering the premium market who don’t want to be tied down and drastically increased competition for people’s disposable income have pushed flexibility to the fore. Those trends are manifested in the kinds of spaces, packages and availability that teams and venues are offering.
“The word of the year is flexibility. What are you doing to be flexible?” said Candy Fuzesy, Suite Experience Group vice president of team and venue partnerships, who formerly oversaw premium for the Minnesota Vikings. “You can’t go into a prospecting meeting and be like ‘well, here it is, take it or leave it.’ You have to get to know your person, what’s the reason they’re buying, why are they interested in this conversation, and what are you doing to appeal to them and market to them?”
Executives across sports share the challenges and strategies of selling their venues’ best seats
The surging influence of flexibility is part of an overall sea change in live sports premium.