ROI. When team owners and management hear those three simple letters, what thoughts come to mind? The first question — can this product or service potentially help our team increase revenues and decrease expenses? All too often, ownership only sees the cash outlay and the cost of the system. That is because most systems cannot generate revenue or reduce inventory cost and expenses.
The cost is obviously a factor, but management needs to peel back the page and drill down into exactly how they can gauge a return on their investment. Does it create a new revenue channel, can it be integrated into an employee scheduling system and how will it decrease our team’s inventory cost? A Stadium 1 internal case study is shedding some much-needed light on just how our dynamic cloud-based venue-management solution, designed by a team owner with a world-class tech background, is paying big dividends for our clients.
Stadium 1 is specifically designed to maximize all revenue centers while reducing expenses and waste throughout your stadium operation. We have achieved this based on our comprehensive venue-management software program. It is proven to create a new sponsorship advertising revenue channel. On the expense side, we can reduce employee expenses with our built-in scheduling system and employee APP. Plus our real-time inventory controls within Stadium 1 can control your costs.
Our feedback from our teams speaks for itself. Here are some comments:
Kim Parker, Assistant General Manager, Burlington Bees
“The Stadium 1 software solution allowed us to cut down on waste and spoilage while reducing our expenses. The system significantly helped us improve and streamline our operation throughout the stadium.
“The software support team is excellent and answered every question promptly before, during and after the season. I can’t image running our stadium operations without Stadium 1.”
Paul Henderson, Assistant General Manager, Idaho Falls Chukars
“Implementing Stadium 1 was a big step for our franchise. We looked at a number of solutions but felt Stadium 1 combined our entire business operation into one system. Based on the software design and functionality we were able to lift our business to increase revenue and decrease inventory cost and employee expenses. The company provided world class support and the staff was extremely responsive to all of our needs throughout the season.”
Allan Benavides, General Manager, Eugene Emeralds
“We had a banner year in sales and Stadium 1 was a big part in helping us achieve our goals and manage our operation on an entirely new level.”
Here are just a few examples on how Stadium 1 has written an ROI solution into our software solution to help maximize revenue and reduce cost.
ROI — Creating A New Revenue Channel with Advertising on the POS Device
Advertising on the back screens opens up an entirely new revenue opportunity for our clients. We have five hundred and twenty (520) ad sponsorship opportunities, which can include a 15-second commercial ad. This cost the team nothing to create, plus our ads can include a QR code to drive fans to the sponsor’s website. Fifty (50) sponsors paying just $2,000 per ad per year equals new revenue increase for our teams!
ROI — Deal engine tool depletes inventory from going to waste and more
Our in-game software tool enables teams to sell F&B before spoilage or a promotion expiration. Potential waste is avoided when products are over cooked or dated. The Stadium 1 deal engine creates a deal that can be date and time sensitive and can be sold in any store. The system can immediately sell products out of inventory before spoilage and waste occurs.
Example
100 burgers left in the 7th inning (selling at $8)
Stadium 1 software notifies management of possible spoilage Management implements a deal for $4
Proven to sell 90% of the deal engine items
Team sells 90 X $4 =$360
$360 X 70 games = $25,200 Yearly
ROI Result — Deal engine can produce a 5% increase of yearly sales.
ROI — Loaded electronic barcode on tickets or a card can generate added revenue
An electronic bar code generated on a ticket or card from Stadium 1 is another revenue-generation tool proven to help promote additional fan spending around the ballpark. We have multiple options, including parties, groups or individuals, all capable of segmenting various values and expiration dates. Fans tend to spend more than the amount because it becomes like Monopoly money to them. Plus, after the game your marketing department can send an e-mail or call with a reminder message: We hope you enjoyed the game, you have five dollars left, would you like us to put that towards another game ticket.
In summary: These few examples of Stadium 1 ROI potential revenue streams used correctly can maximize a team’s potential to increase their bottom line. The ROI flow from Stadium 1 will engage sponsors, fans and employees, enabling all parties to have a stake in the process to create a stronger ROI and ignite optimum revenue opportunities.
Remember, our goal is to maximize revenue. Stadium 1 makes your POS device a revenue-generating money-making machine, which can improve your stadium operation, data flow and add revenue directly to your bottom line.
Visit Ballpark Digest to view the full article.
___________________________
About the author — Ed Mullen is an invited nationally recognized speaker and author on sports technology. He performs educational seminars on connectivity solutions for stadium, arenas, sports complexes and college venues. He has managed and implemented over a billion dollars of technology into thousands of sports venues worldwide. His passion and understanding his client’s goals and objectives, enables Ed, and his team to develop, market, and implement these unique sets of SAS services. The results are meeting the needs of his customers, allowing them to maximize their full revenue potential.
