From letting your fans know that you exist to leading a profitable tribe.
Either for women’s football clubs, athletes, tournaments and leagues, there are 4 necessary steps to grow a sustainable brand.
If lots of stakeholders are not monetising, they are missing some middle steps. Media and sponsors won’t open the door if they haven’t previously gone through the funnel.
Likewise, different steps in the process will have to be measured with different KPI’s. And, for setting correct KPI’s, we must determine a time frame for a concrete goal, otherwise it will be a general metric. For instance, “raising 100,000€ in sponsorship by the end of the current season”.
The process from an introduction of a brand to its “cash” stage should look like the following:
- Awareness. Letting know people you exist, especially media to boost your results. It should be measured with metrics as reach.
- Engagement. Getting people to connect with you, measuring engagement with interaction, in digital for instance.
- Community. Once they like you, they form a tribe and follow you. Followers could be an appropriate indicator.
- Monetisation. At this stage, they will be willing to trust the benefits of your memberships, tickets or merchandising. Revenue could be your most suitable metric here.
Paradoxically, most of times we try to go inversely comparing to what fans need, putting our needs at the core of our strategy instead of theirs.
Let’s follow their journey giving what they expect.
Photo credit: Atlético de Madrid