Build community, boost the economy

Dec 02 2019 Company News

Today’s stadium owners and operators increasingly understand the inherent value their venues offer – as both an important hub for community engagement and as significant contributor to the local economy.

A recent financial analysis found that one of Sydney’s newest sporting arenas – Bankwest Stadium located in the city’s geographic centre, Parramatta – contributes over $1m to the local economy every time an event is held. That’s a tidy sum by anyone’s measure and additional to the $1.25m (as estimated by the same study) that comes into the stadium itself on game days.

These studies often come about because of a tendency in Australia for the public to question the economic benefit of stadium construction and redevelopment, as most venues of this type are built under a public funding model – usually drawn from state government coffers. That scrutiny is a good thing, as it helps draw focus to the design, development and provision of facilities that best serve the community.

The difference…stateside

The finance model is a little different in the US, where stadium and sports arena developments are often funded either entirely from private sources, or via a combination of private and public investment.

It’s hard to say whether the funding method is responsible for the scope of development projects, which tend to have a heavy community focus in the States, but some of the newer facilities like Georgia’s SunTrust Park – home of the Atlanta Braves Major League Baseball team – are marketed as complete entertainment precincts that offer dining, retail, entertainment and accommodation options designed to draw (and retain) higher crowd numbers.

Similarly, the privately funded Chase Stadium – new official home for the NBA’s Golden State Warriors – is located among 11 acres of commercial, entertainment and open public space zones, appealing to an audience beyond the die-hard sports fan.

Back on home soil, we’re seeing a similar shift. Past criticism of stadium development has been the inference that sports venues are dead zones outside of match days. When the Western Australian Government investigated site options for the new Perth Stadium, it settled on a Burswood location that puts it a stone’s throw away from the already established Crown Casino, creating an entertainment hub designed to cater to a more extensive crowd.

That’s outside the venue…what about inside?

Stadiums and sports arenas are fundamentally exciting places. Check out at any venue on game day and you’ll see fans in the tens of thousands dressed in team colours, chanting, emotionally charged and ready for the spectacle to begin…and that’s a pretty unique customer mindset. You don’t often see people powering through retail environments or hospitality venues with the same fervour, for example.

For stadium owners, operators and tenants, that prevailing attitude is a massive opportunity for further engagement and that’s why we are seeing more and more venues partnering with TASK to take advantage.

Our clients already understand the benefits the TASK transaction management platform delivers when it comes to streamlining operations and speeding up service delivery – that’s because they’ve installed our POS system and self-serve kiosks to ensure guests spend less time queuing for refreshments and more time soaking up the atmosphere.

But a superior guest experience is about more than dodging the queue and increasingly we find our stadium clients looking for ways to utilise existing tech infrastructure and the rich data set it provides to better engage with fans and to improve the overall guest experience.

Our customised loyalty apps are the perfect tool to develop fun and engaging ways to connect with fans in-venue. The sky is the limit when it comes to creating context-based marketing campaigns that not only keep the punters happy, but also provide invaluable insight into behaviours, which can in turn be used to refine and develop future campaigns and initiatives.

We know it works because our customers tell us it does, with more venues jumping on board every day. If creating new and exciting ways to engage your guests, increasing in-venue spend and improving efficiency matter to you, it’s time to talk TASK.

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