NBC Universal calls its new, digital strategy “NBCU 2.0″.
My first reaction to this is I should change the name of my blog. Marketing catch-phrases (like 2.0) are often overused, and I hate to put myself in a “me too” position.
But when I read the release, I realized what the media and content giant is doing.
NBCU is trying to force itself to stop thinking like a traditional media company. NBCU is trying to reimagine itself. NBCU sees DIGITAL content creation and delivery systems changing the very DNA of the news and entertainment businesses that it owns. And it’s happening fast. So the giant is using new language to proclaim its intentions to re-define its approach, and re-direct its engergies.
This is an important step for any company. Say the words and you shall be healed!
I believe the Colts, and other NFL franchises, have the same opportunities (and challenges) to reimagine our enterprises. That’s why I’m blogging about “2.0″.
I see our “old” business (producing TV content and selling tickets and sponsorships to local events) evolving to include new opportunities (digital content producer serving multiple, global affinity groups across multiple media platforms).
I believe that these new opportunities have the potential to grow even larger than our biggest revenue streams.
But I can’t be the only one speaking the words “2.0″. If the NFL and its clubs are going to maximize the revenue potentials presented by “2.0″, then our entire league needs to be singing from the same hymnal. That’s much easier said than done.
And while technology is the driving force behind these new opportunities, technology (on its own) does not change everything. We cannot just digitize everything and expect that our business will continue on its current growth trajectory. Utlimately, I believe we need to realize that our sponsors and fans deserve more from us. They want to get closer. They want some accountability. They want some love. And I believe digital technologies give us the power to do these things.
Historically we’ve been able to play the role of celebrity. We’ve been put up on a pedestal and that was just fine with us. In the “2.0″ landscape, fans want to create content. Sponsors want to interact with fans. And in order to do this, we need to get our hands dirty. To use another cliche, we need to “enter the conversation.” When we do, we expand each club’s customer base, and expand exponentially each team’s DIRECT revenue potential.
I believe we are entering into a new phase where the franchise grows in importance. In the past, the league has made its money (mostly) from broadcast TV deals. While I don’t see that model changing anytime soon, I do see emerging a chance for the league and its clubs to collaborate with eachother and with fans and with sponsors to the mutual benefit of all.
Imagine an NFL where each team runs its own social network, and the data (demographics, clickstreams, purchasing behavior) of each member is tracked - and team data is centralized in a master database (at NFL level). Studying this database will reveal opportunities to keep our stadiums full, and it will reveal behavioral targeting opportunities for our sponsors.
We already have a giant TV audience AND a massive on-line audience. But for the most part the viewers (and surfers) remain anonymous to us. At present, we’re selling little more than “eye balls”. We’re missing a big opportunity.
In the future, if we take a data-driven approach that integrates the teams and the league, we’ll be brokering relationships and tapping into the purchasing power of our unmatched fan base.
Fan passion lives at the team level. I believe, therefore, that each team needs to establish relationships with its fans. This relationship should start with both sides aligning around a cause. And this cause should be MORE than just winning the Super Bowl. The Lombardi Trophy is every team’s goal, but only one team can reach this summit each year. Yet being champion of the world is a fleeting thing. When you wake up the day after the Super Bowl the buzz begins to wear off. Pretty soon, youre talking about “what happened yesterday” rather than what you’re doing today or what you’re looking forward to happening tomorrow.
To keep fans and sponsors engaged (win or lose) is the bigger challenge / opportunity. To do this I believe we need to represent a cause that goes beyond the field. For the Colts, I believe this cause is right at our fingertips. It’s unity. The Colts are a unifying force. We bring people together. Once people are connected, there’s no limit to what they can accomplish.
Pretty strong language, I realize, but like my dad always said, “if you think can, then maybe you can; but if you think you can’t, you can’t.” I think we can. But I also think we’ve got “traditional” thinking (aka “NFL 1.0″) standing in our way. As long as our current business model is working (and it is) we won’t be forced to make the same declarations as NBCU just did. I just hope we don’t wait too long.
I think you’re absolutely right to think about passion and the “cause” of the Colts as you think about growing the franchise. There’s tremendous opportunity to reimagine your business (one of our mavericks said to us: “every great company has reinvented the business its in.” It’s really hard to argue with that–now more than ever). And, you’re right on in paying attention to the language you use as you define that cause. Companies that compete differently tend to speak differently. A good question to ask any leader is: do you have a strategic vocabulary that sets you apart from the competition and is compelling to both customers and employees? Great to find your blog!