Change.
We've all heard it: The only thing constant in life is change.
If we know that there is constant change, let's anticipate it. Let's embrace the inevitable. Let's execute in our new reality.
We may not be able to control the change that is forthcoming, but we can control our attitude and work toward successfully executing during the transition and on into the new situation.
Change is particularly relevant with our free-agent baseball players during this time of year, as we evaluate 30 teams and work to secure the best fit for our free-agent clients.
But change can come at any time. A friend and client, Jeff Francoeur, experienced change this summer --- a trade from the Atlanta Braves to the New York Mets.
One Friday afternoon this summer, my phone rang at 5:50 p.m. Players don't typically call me after they get to the field unless something is pressing. It was Jeff calling from Colorado. I answered and I said, "Hey Jeff, let me guess . . ."
"Yes, I just got traded to the Mets, " he said.
"Awesome, " I replied.
That wasn't the reaction he was expecting --- and it was welcomed. All of a sudden No. 7 on the Braves became No. 12 on the Mets.
What characteristics do we need to implement during our changing times?
Anticipate: I was confident Jeff was going to get traded. As time passed, I began to not only anticipate a trade but appreciate what it might provide --- a new beginning. I anticipated that call from him, and when it came I knew he needed to believe that the change could be positive.
The reality is that he was the lead on making the change a positive one, but as his agent I was there to help him capitalize on it.
In this economic environment, we are all experiencing change. The more we anticipate it and plan for it, the more likely we can determine the most efficient and effective way to add value in the new situation.
Embrace: Whether change is a reality for a week, a year or forever, it's healthy to embrace it. Our ability to adjust quickly in trying times has a direct correlation with our ability to be successful. The quicker and more fluidly we adjust and create a platform for success the better.
Jeff had a lot of things to process as he boarded that plane from Colorado to New York. He had a lot to process as he changed his closet from the red and blue of the Braves to the orange and blue of the Mets.
We talked about the importance of those first games as a Met. His results in the second half of the season in New York demonstrate how well he embraced the trade.
Execute: His results in the second half of the season in New York demonstrate how well he executed these philosophies. Jeff arrived in New York with a new energy and the desire to prove to his new team that he would contribute at the plate, in the field and in the clubhouse.
He wanted to prove to manager Jerry Manuel and hitting coach Howard Johnson that he could contribute in a positive way to the club. He did just that.
In 2009, in 82 games with the Braves, Jeff hit .250 with five home runs and 35 RBI. In 75 games with the Mets, he hit .311 with 10 home runs and 41 RBI. After he arrived in New York, he led all Mets players in both home runs and RBI. Defensively, in just half the season he still tied for team lead in assists.
As you walk into new roles, sit in new board rooms, work with new co-workers, deal with new clients , you need to anticipate, embrace and, most important, consistently over-deliver.
So wake up every day and anticipate, embrace and execute in these ever changing times. You will find the roller-coaster of change to be less jarring and even positive.
Sunday, May 1, 2011
Tuesday, April 26, 2011
Be consistent, creative
In most businesses, I believe you must operate with the following fundamentals: productive consistency, appropriate uniqueness, creativity and a purposeful sense of urgency. We all need refreshers on our fundamentals as we get roped into our day-to-day business lives.
Our golfers have hit the road to compete against the world's best on the PGA Tour.
Our baseball players are gearing up for spring training.
Our broadcasters are preparing to call games for new networks.
Our corporate and equipment sponsors want to see these guys at the top of their game on a consistent basis. Our clients garner sponsorships and endorsements because we help create unique partnerships for celebrity brands and companies.
We all must enhance the individuals and/or brands that provide us with the money and resources we need to succeed.
We can do it with the following qualities:
Productive consistency
Athletes are a tremendous example of the need to be consistent. A golfer must shoot low rounds four days in a row to win tour events. Baseball players' batting average or ERA are barometers of their consistency. Coaches are measured by their wins and losses. All of the above are rewarded based on their ability to deliver consistently.
In a traditional business-development environment, your retention of existing business and growth of new business are directly related to your ability to consistently deliver.
Pending your business model, ask yourself this question: Is anything more important than consistency in making your product successful?
Appropriate uniqueness
People always ask me, "Why do your clients get paid so much?" Because, at the most basic level, they do something few can do --- they leverage supply and demand to their advantage. Our job is to help them understand their value and then secure it. When you can throw a baseball 98 miles an hour --- and know where it is going --- you can make a lot of money. But we can all be the "demand" in the supply chain --- and it doesn't have to be on a field --- if we deliver something unique to a marketplace demanding that product. What makes us more unique, more valuable and more visible in the market?
We have all heard the old saying "differentiate or die." In our highly competitive world, we have to fill a special niche to be successful in the marketplace. There will always be a need for talent --- whether it's an athlete or you. What is your unique selling proposition? Create purposeful urgency around it and success will follow. Enjoy it!
Creativity
There is usually room for improvement in all that we do in life. I often refer to it as evolving. Is there a more efficient way? A more profitable way?
In other words, being willing to change and adjust to ensure success is imperative. In our economic environment, building an agile company will help you survive and give you an enormous advantage.
Creativity is not just the domain of a talented few. We are all creative by nature. Creativity is instilled in each of us and can fulfill our need to work in solutions. It breeds innovation and creates platforms for needed change.
Charles Darwin is credited with coining the phrase, "the survival of the fittest." The "fittest" are a lot of things --- but one thing about those who survive is that they are creative --- for sure. If you're on the fringe, ask yourself what club will get you closest to the hole --- a 7 iron, wedge or putter. Let's be creative and we're more likely to throw strikes and drain puts.
Sense of urgency
One Sunday afternoon I was at a neighbor's house and my cellphone continued ringing. I answered each call, from various clients. After about the fifth call, my neighbor looked at me and said, "What do they want? It's Sunday afternoon, what do they need right now?"
I explained that my world is 24/7 --- if our clients want to tell me about a conversation with a manager, or something they read, they want to tell me now. That's okay, I understand. In fact, I welcome it and it's all I've known after 15 years as a sports agent.
My neighbor is a neonatal intensive care doctor and he really understands the meaning of urgency and of "right now." So I humbly replied, "I guess 'right now' is relative."
At the most basic level, I embrace the "now" with a sense of urgency whether it is Sunday at 5 or Tuesday at 2.
At the micro level, a successful tactic to improve your value starts with being productively consistent, appropriately unique, creative and approaching life with a purposeful sense of urgency. Invest in these qualities. Execute your business plan now and great things will happen.
Our golfers have hit the road to compete against the world's best on the PGA Tour.
Our baseball players are gearing up for spring training.
Our broadcasters are preparing to call games for new networks.
Our corporate and equipment sponsors want to see these guys at the top of their game on a consistent basis. Our clients garner sponsorships and endorsements because we help create unique partnerships for celebrity brands and companies.
We all must enhance the individuals and/or brands that provide us with the money and resources we need to succeed.
We can do it with the following qualities:
Productive consistency
Athletes are a tremendous example of the need to be consistent. A golfer must shoot low rounds four days in a row to win tour events. Baseball players' batting average or ERA are barometers of their consistency. Coaches are measured by their wins and losses. All of the above are rewarded based on their ability to deliver consistently.
In a traditional business-development environment, your retention of existing business and growth of new business are directly related to your ability to consistently deliver.
Pending your business model, ask yourself this question: Is anything more important than consistency in making your product successful?
Appropriate uniqueness
People always ask me, "Why do your clients get paid so much?" Because, at the most basic level, they do something few can do --- they leverage supply and demand to their advantage. Our job is to help them understand their value and then secure it. When you can throw a baseball 98 miles an hour --- and know where it is going --- you can make a lot of money. But we can all be the "demand" in the supply chain --- and it doesn't have to be on a field --- if we deliver something unique to a marketplace demanding that product. What makes us more unique, more valuable and more visible in the market?
We have all heard the old saying "differentiate or die." In our highly competitive world, we have to fill a special niche to be successful in the marketplace. There will always be a need for talent --- whether it's an athlete or you. What is your unique selling proposition? Create purposeful urgency around it and success will follow. Enjoy it!
Creativity
There is usually room for improvement in all that we do in life. I often refer to it as evolving. Is there a more efficient way? A more profitable way?
In other words, being willing to change and adjust to ensure success is imperative. In our economic environment, building an agile company will help you survive and give you an enormous advantage.
Creativity is not just the domain of a talented few. We are all creative by nature. Creativity is instilled in each of us and can fulfill our need to work in solutions. It breeds innovation and creates platforms for needed change.
Charles Darwin is credited with coining the phrase, "the survival of the fittest." The "fittest" are a lot of things --- but one thing about those who survive is that they are creative --- for sure. If you're on the fringe, ask yourself what club will get you closest to the hole --- a 7 iron, wedge or putter. Let's be creative and we're more likely to throw strikes and drain puts.
Sense of urgency
One Sunday afternoon I was at a neighbor's house and my cellphone continued ringing. I answered each call, from various clients. After about the fifth call, my neighbor looked at me and said, "What do they want? It's Sunday afternoon, what do they need right now?"
I explained that my world is 24/7 --- if our clients want to tell me about a conversation with a manager, or something they read, they want to tell me now. That's okay, I understand. In fact, I welcome it and it's all I've known after 15 years as a sports agent.
My neighbor is a neonatal intensive care doctor and he really understands the meaning of urgency and of "right now." So I humbly replied, "I guess 'right now' is relative."
At the most basic level, I embrace the "now" with a sense of urgency whether it is Sunday at 5 or Tuesday at 2.
At the micro level, a successful tactic to improve your value starts with being productively consistent, appropriately unique, creative and approaching life with a purposeful sense of urgency. Invest in these qualities. Execute your business plan now and great things will happen.
Thursday, April 7, 2011
Telling beats selling
We have all been in sales since we started posturing for later bed times or an extra cookie after dinner.
Regardless of what you are "accountable for" in your business, we can all be 24/7 promoters for our organizations, our boards and our philanthropic affiliations.
I recently gave a speech to a group of national sales people for a Fortune 500 company. I talked about the importance of telling, not selling.
Telling builds relationships. It brings the product or service to life by illustrating a story or case study. It doesn't force connectivity. It feels authentic, long-lasting vs. self-serving, like the feeling a traditional sales experience may bring.
Telling authenticates past and future actions. It creates credibility.
I believe valuable moments are created by telling vs. selling. Here are a couple of tactical "to do's" as you work to bring value:
Prep: Why was John Smoltz in high demand as a broadcaster? One reason is certainly because of the way he handles himself on and off the field.
I would argue the other is because over the years we have worked to put John in the booth when the timing and the situation was right, in order for John and the market to determine if one day this could be an option for him.
The choices we had and the respect he was shown as we expressed interest in broadcasting wasn't an accident.
Another example: I have walked hundreds of practice rounds with PGA Tour players, and consistently watch them drop multiple balls in the fairway to check distances. They putt to and from all areas of each green --- all in preparation for competition. Prep for each situation you might encounter so as to take advantage of your opportunities to win.
Inquire and then listen: Asking questions can help you position the opportunity. It helps you to gather information. Doc Rivers, coach of the Boston Celtics, constantly asks his players, "Do you need anything from me?" I watch golf equipment representatives stand on the range Monday through Wednesday of tournament week as players try their clubs. The rep drills them with questions as players try the clubs. "Too firm? Too much loft?"
They gather information to build the very best club for the player. Ask your employees, your clients, your boss, your customers questions so you can gather data and put yourself in the best position to deliver the best product. If they win, you should win. After you ask questions --- listen. Just listen.
Listen authentically so you can better position the way you bring them value.
Don't talk too much or too loud: The analogy here is the rookie in the clubhouse that comes in and forgets he's the rookie. Trust me, the veterans will remind him. The best sales people ask a question --- short and sweet --- and then simply listen and react to their answer. They may know a lot of the answers, but not all of them --- and they're eager to learn so as to provide the best and most fitting solutions.
Stories work: You can tell people what you are going to do for them, or simply tell them what you have already done for others. Do the latter first, then the other is more real. When you tell, you sell. When we show a player how we will manage their career, it is powerful. But when we show them how and what we have done for 200-plus clients similar to them, it resonates.
Most important, wrap these tactics with integrity. It should be central to your message. Integrity is the quality most needed to succeed personally and professionally.
The good news is that you have an opportunity to be the player that creates valuable moments. Work so hard and so smart that you are faced with abundant moments and are prepared to capitalize on each and every one of them.
Regardless of what you are "accountable for" in your business, we can all be 24/7 promoters for our organizations, our boards and our philanthropic affiliations.
I recently gave a speech to a group of national sales people for a Fortune 500 company. I talked about the importance of telling, not selling.
Telling builds relationships. It brings the product or service to life by illustrating a story or case study. It doesn't force connectivity. It feels authentic, long-lasting vs. self-serving, like the feeling a traditional sales experience may bring.
Telling authenticates past and future actions. It creates credibility.
I believe valuable moments are created by telling vs. selling. Here are a couple of tactical "to do's" as you work to bring value:
Prep: Why was John Smoltz in high demand as a broadcaster? One reason is certainly because of the way he handles himself on and off the field.
I would argue the other is because over the years we have worked to put John in the booth when the timing and the situation was right, in order for John and the market to determine if one day this could be an option for him.
The choices we had and the respect he was shown as we expressed interest in broadcasting wasn't an accident.
Another example: I have walked hundreds of practice rounds with PGA Tour players, and consistently watch them drop multiple balls in the fairway to check distances. They putt to and from all areas of each green --- all in preparation for competition. Prep for each situation you might encounter so as to take advantage of your opportunities to win.
Inquire and then listen: Asking questions can help you position the opportunity. It helps you to gather information. Doc Rivers, coach of the Boston Celtics, constantly asks his players, "Do you need anything from me?" I watch golf equipment representatives stand on the range Monday through Wednesday of tournament week as players try their clubs. The rep drills them with questions as players try the clubs. "Too firm? Too much loft?"
They gather information to build the very best club for the player. Ask your employees, your clients, your boss, your customers questions so you can gather data and put yourself in the best position to deliver the best product. If they win, you should win. After you ask questions --- listen. Just listen.
Listen authentically so you can better position the way you bring them value.
Don't talk too much or too loud: The analogy here is the rookie in the clubhouse that comes in and forgets he's the rookie. Trust me, the veterans will remind him. The best sales people ask a question --- short and sweet --- and then simply listen and react to their answer. They may know a lot of the answers, but not all of them --- and they're eager to learn so as to provide the best and most fitting solutions.
Stories work: You can tell people what you are going to do for them, or simply tell them what you have already done for others. Do the latter first, then the other is more real. When you tell, you sell. When we show a player how we will manage their career, it is powerful. But when we show them how and what we have done for 200-plus clients similar to them, it resonates.
Most important, wrap these tactics with integrity. It should be central to your message. Integrity is the quality most needed to succeed personally and professionally.
The good news is that you have an opportunity to be the player that creates valuable moments. Work so hard and so smart that you are faced with abundant moments and are prepared to capitalize on each and every one of them.
Thursday, March 31, 2011
Execution trumps stereotyping
In the world of sports, I am usually the only woman in the room, behind home plate, on the sideline or on the driving range.
I often get the question, "Is it a disadvantage being a woman sports agent?" Or sometimes they ask it like, "How much harder is it for you since you are a woman?"
Rarely, someone will follow up with, "I bet it helps."
You bet it does, if you handle it right. It is easy to tell women in work environments filled primarily with men to just be great. Be smarter, work harder, execute better and more consistently. I would add that awareness is paramount: Be aware of the messages you send.
My advice during gender diverse moments is to avoid stereotyping others. My experiences have demonstrated that that, in turn, supports connectivity.
Awareness: Who is in the room? Or on the call? Earn their respect, just as they must earn yours. You might walk in with it because of your reputation, but walk out with it because of how authentic, smart, collaborative and solution-oriented you are --- and because of your ability to connect. I would argue that awareness enhances your ability to connect. Awareness requires preparation. Know your audience. I've been the only woman in the room full of men on thousands of occasions, I'm aware but unfazed at the same time.
Jason Heyward, a CSE client, broke camp with the club in the big league and made the All-Star team --- he was aware but unfazed --- he expected it. And, it's working.
Authentic and productive visibility: Know the others' business, from their clients, to their competition, to their jargon.
And contribute communicatively. It matters --- a lot. Early in an encounter with a player, I'm aware I'm the only woman, but when you speak their language you connect. "Why the double switch in the 8th last night?" "Were you sitting fast ball on that 3-2 count in your second at bat?"
Adapt, connect in an authentic and genuine way.
Be great and better: One of our coaches tells his guys, "You better be better than your problems."
I have seen athletes who are not better than their problems, they are dismissed (T.O. among the most well-known). Tiger was better than his problems to Nike, but not for Accenture, Gillette and plenty of others.
Execute: When you execute, you can lead and influence others. Some are leaders because of their title, but to be a person of influence you must execute --- and do so consistently.
Our client John Smoltz was a leader in the Atlanta Braves clubhouse for years, because he did a lot of intangible things well --- he is involved in our community, he represented the organization well, he was available to the media.
But if he didn't do one of them well, if he didn't execute year after year on the mound, would he have been a leader in the clubhouse? I would argue not. It is his ability to execute consistently that has made him one of the best and a promising future Hall of Famer.
Can we utilize these ideas to enhance productivity and improve results?
I often get the question, "Is it a disadvantage being a woman sports agent?" Or sometimes they ask it like, "How much harder is it for you since you are a woman?"
Rarely, someone will follow up with, "I bet it helps."
You bet it does, if you handle it right. It is easy to tell women in work environments filled primarily with men to just be great. Be smarter, work harder, execute better and more consistently. I would add that awareness is paramount: Be aware of the messages you send.
My advice during gender diverse moments is to avoid stereotyping others. My experiences have demonstrated that that, in turn, supports connectivity.
Awareness: Who is in the room? Or on the call? Earn their respect, just as they must earn yours. You might walk in with it because of your reputation, but walk out with it because of how authentic, smart, collaborative and solution-oriented you are --- and because of your ability to connect. I would argue that awareness enhances your ability to connect. Awareness requires preparation. Know your audience. I've been the only woman in the room full of men on thousands of occasions, I'm aware but unfazed at the same time.
Jason Heyward, a CSE client, broke camp with the club in the big league and made the All-Star team --- he was aware but unfazed --- he expected it. And, it's working.
Authentic and productive visibility: Know the others' business, from their clients, to their competition, to their jargon.
And contribute communicatively. It matters --- a lot. Early in an encounter with a player, I'm aware I'm the only woman, but when you speak their language you connect. "Why the double switch in the 8th last night?" "Were you sitting fast ball on that 3-2 count in your second at bat?"
Adapt, connect in an authentic and genuine way.
Be great and better: One of our coaches tells his guys, "You better be better than your problems."
I have seen athletes who are not better than their problems, they are dismissed (T.O. among the most well-known). Tiger was better than his problems to Nike, but not for Accenture, Gillette and plenty of others.
Execute: When you execute, you can lead and influence others. Some are leaders because of their title, but to be a person of influence you must execute --- and do so consistently.
Our client John Smoltz was a leader in the Atlanta Braves clubhouse for years, because he did a lot of intangible things well --- he is involved in our community, he represented the organization well, he was available to the media.
But if he didn't do one of them well, if he didn't execute year after year on the mound, would he have been a leader in the clubhouse? I would argue not. It is his ability to execute consistently that has made him one of the best and a promising future Hall of Famer.
Can we utilize these ideas to enhance productivity and improve results?
Thursday, March 17, 2011
Facebook and fan fervor
To see the transformational change in our world due to social media, look no further than the impact of tweets and such on athletics and the power of the fan.
In the past, the fan's interaction with an athlete was a one-way experience. The fan would visit the team website to view the latest news about the player, get to see the player at staged events or hear about favorite athletes from the perspective of a sportswriter. The relationship could be described as "at arms length" and non-transparent.
Now, due to social media, there is an instantaneous connection where the veil of secrecy has been lifted and the team, the locker room and the athlete's life are more "real" to the fan.
This is creating a new paradigm of fan/celebrity relationships that make the fan feel more connected to the celebrity as if they are actual "friends."
Athletes who have adopted this "transparent" relationship with their fan base through authentic posts make their brand more marketable to teams, sponsors, and potential endorsement opportunities.
This has shifted an immense amount of power directly to athletes as they become their own media property.
What can build a brand or damage it
Social media provide a powerful platform for connecting with fans, but reckless use can be damaging.
Every tweet, post, photo and video makes a statement of personal views --- which will be taken seriously if it jeopardizes the integrity of a team or sponsor.
Take Michael Phelps for instance.
Stream-of-consciousness postings on social networks can --- and often will --- get athletes in trouble.
So interactions have to contain some thought about consequences. Athletes not only have to think about what they say, they also have to think about where and when they say it.
Leagues such as the NFL, the NBA and even the SEC are demanding it. A simple misstep can mean a hefty fine --- anywhere from $7,500 to $25,000.
In the NFL, new rules prohibit tweeting 90 minutes before and after games by players, their representatives, coaches, team personnel, and officials.
It's a fear of losing control that is driving organizations to restrict what gets said in a social media space. Media outlets are also clamping down.
ESPN contracts analysts and athletes as its on-air broadcast talent and prohibits them from discussing sports stories in social media.
Celebrities need to remain disciplined and have a plan and a few guidelines in place for how to conduct their communications.
Integrated strategy for brand building
A fully integrated social media strategy for multiple platforms such as Facebook (official and unofficial fan pages), MySpace, Twitter, YouTube (where you have your own YouTube channel) is a rarity in the sports world, even if the benefits to that athlete's brand are so obvious.
However, this integrated message takes time, discipline and work by the athlete (really minutes a day if they are savvy), so most shy away from it or hand it over to a PR firm to "handle" their social media. The fans see right through this.
Let's use Lance Armstrong as an example.
He is one of the most dedicated social media users across multiple platforms. On any given day, he will post a tweet about his ride route, where fans show up and ride with him.
From that event fans will post videos of the ride on his YouTube channel and comments on his Facebook page. The connection his fans feel with him due to such relatively simple yet authentic gestures makes him one of the most popular on Web 2.0.
Some athletes may ask how posting a tweet or a message on Facebook matters. Tweet Lance Armstrong that question and he'll tell you it has landed him a number of new endorsements where he can pair hungry fans with hungry retailers. All due to social media. Savvy celebrities see socially connected fan bases as currency that pays dividends --- and will continue to do so long after they have left the playing field.
In the past, the fan's interaction with an athlete was a one-way experience. The fan would visit the team website to view the latest news about the player, get to see the player at staged events or hear about favorite athletes from the perspective of a sportswriter. The relationship could be described as "at arms length" and non-transparent.
Now, due to social media, there is an instantaneous connection where the veil of secrecy has been lifted and the team, the locker room and the athlete's life are more "real" to the fan.
This is creating a new paradigm of fan/celebrity relationships that make the fan feel more connected to the celebrity as if they are actual "friends."
Athletes who have adopted this "transparent" relationship with their fan base through authentic posts make their brand more marketable to teams, sponsors, and potential endorsement opportunities.
This has shifted an immense amount of power directly to athletes as they become their own media property.
What can build a brand or damage it
Social media provide a powerful platform for connecting with fans, but reckless use can be damaging.
Every tweet, post, photo and video makes a statement of personal views --- which will be taken seriously if it jeopardizes the integrity of a team or sponsor.
Take Michael Phelps for instance.
Stream-of-consciousness postings on social networks can --- and often will --- get athletes in trouble.
So interactions have to contain some thought about consequences. Athletes not only have to think about what they say, they also have to think about where and when they say it.
Leagues such as the NFL, the NBA and even the SEC are demanding it. A simple misstep can mean a hefty fine --- anywhere from $7,500 to $25,000.
In the NFL, new rules prohibit tweeting 90 minutes before and after games by players, their representatives, coaches, team personnel, and officials.
It's a fear of losing control that is driving organizations to restrict what gets said in a social media space. Media outlets are also clamping down.
ESPN contracts analysts and athletes as its on-air broadcast talent and prohibits them from discussing sports stories in social media.
Celebrities need to remain disciplined and have a plan and a few guidelines in place for how to conduct their communications.
Integrated strategy for brand building
A fully integrated social media strategy for multiple platforms such as Facebook (official and unofficial fan pages), MySpace, Twitter, YouTube (where you have your own YouTube channel) is a rarity in the sports world, even if the benefits to that athlete's brand are so obvious.
However, this integrated message takes time, discipline and work by the athlete (really minutes a day if they are savvy), so most shy away from it or hand it over to a PR firm to "handle" their social media. The fans see right through this.
Let's use Lance Armstrong as an example.
He is one of the most dedicated social media users across multiple platforms. On any given day, he will post a tweet about his ride route, where fans show up and ride with him.
From that event fans will post videos of the ride on his YouTube channel and comments on his Facebook page. The connection his fans feel with him due to such relatively simple yet authentic gestures makes him one of the most popular on Web 2.0.
Some athletes may ask how posting a tweet or a message on Facebook matters. Tweet Lance Armstrong that question and he'll tell you it has landed him a number of new endorsements where he can pair hungry fans with hungry retailers. All due to social media. Savvy celebrities see socially connected fan bases as currency that pays dividends --- and will continue to do so long after they have left the playing field.
Tuesday, February 22, 2011
Social media sites win
The use of social media, especially social broadcasting, represents the largest shift in leverage in today's media world.
And, certainly, this is affecting the business of sports.
In the sports arena, the power is shifting into the hands of celebrity athletes, who now have an opportunity to build their own personal media properties, where viewers and profits shift from content aggregators such as ESPN directly to the individual.
How will this happen?
It's all about the younger generation of fans and how they view content.
Younger sports fans aren't your traditional content consumers. More than 80 percent own smart phones; they are watching less and less TV; rarely listen to traditional radio; and enjoy getting most of their content off mobile video or Web video sites such as YouTube or Facebook.
They want to view what they want, when they want to, and they are choosing their viewing platform.
Younger consumers are just as likely to watch a video posted by Shaquille O'Neal on Facebook about his 60-point night than go to ESPN.com to read a commentator's take.
These younger viewers represent eyeballs, and eyeballs represent profits that were once monopolized by the traditional content aggregators.
Those days are changing. Local social media consulting firm Vitrue recently valued Facebook fans at $3.60 per fan per year. Take an athlete such as LeBron James, who has close to 5 million Facebook fans, and the revenue potential this provides is staggering.
But while James does a good job managing his social media with multiple personal posts each day, it seems a number of those posts are being managed by staff or social media consultants.
Savvy fans can see right through that filter. It's best if athletes keep it real and personal, or else they risk alienating their followers.
When athletes and celebrities embrace building, or enhancing, their personal media property, they understand that it is a once-in-a-lifetime platform to:
Connect directly to fans;
Better understand their fan demographics;
Funnel endorsement deals their way;
Build revenue for their philanthropic endeavors;
Connect advertisers with targeted demographics;
Provide special offers to their fans and their advertisers;
Generate a revenue stream that will outlast their professional career.
Social media is forcing the sports business to reinvent itself at some levels.
It's exciting and time to embrace it. My college tennis coach used to say, "Just win the last point of the match, Molly."
Well, we all know, you have to win a lot of points and games to position yourself for that ever-important last point. Are the games the athletes' existing platform? Or is the ever-important last point for athletes today how effectively they optimize their personal media property?
And, certainly, this is affecting the business of sports.
In the sports arena, the power is shifting into the hands of celebrity athletes, who now have an opportunity to build their own personal media properties, where viewers and profits shift from content aggregators such as ESPN directly to the individual.
How will this happen?
It's all about the younger generation of fans and how they view content.
Younger sports fans aren't your traditional content consumers. More than 80 percent own smart phones; they are watching less and less TV; rarely listen to traditional radio; and enjoy getting most of their content off mobile video or Web video sites such as YouTube or Facebook.
They want to view what they want, when they want to, and they are choosing their viewing platform.
Younger consumers are just as likely to watch a video posted by Shaquille O'Neal on Facebook about his 60-point night than go to ESPN.com to read a commentator's take.
These younger viewers represent eyeballs, and eyeballs represent profits that were once monopolized by the traditional content aggregators.
Those days are changing. Local social media consulting firm Vitrue recently valued Facebook fans at $3.60 per fan per year. Take an athlete such as LeBron James, who has close to 5 million Facebook fans, and the revenue potential this provides is staggering.
But while James does a good job managing his social media with multiple personal posts each day, it seems a number of those posts are being managed by staff or social media consultants.
Savvy fans can see right through that filter. It's best if athletes keep it real and personal, or else they risk alienating their followers.
When athletes and celebrities embrace building, or enhancing, their personal media property, they understand that it is a once-in-a-lifetime platform to:
Connect directly to fans;
Better understand their fan demographics;
Funnel endorsement deals their way;
Build revenue for their philanthropic endeavors;
Connect advertisers with targeted demographics;
Provide special offers to their fans and their advertisers;
Generate a revenue stream that will outlast their professional career.
Social media is forcing the sports business to reinvent itself at some levels.
It's exciting and time to embrace it. My college tennis coach used to say, "Just win the last point of the match, Molly."
Well, we all know, you have to win a lot of points and games to position yourself for that ever-important last point. Are the games the athletes' existing platform? Or is the ever-important last point for athletes today how effectively they optimize their personal media property?
Friday, February 4, 2011
In negotiations, party with the most choices is in control
The National Football League lockout is no different from any negotiation, whether two parties or several parties negotiate: The goal isn't a good deal, but a great outcome. In a perfect world, it's a formulation of a great outcome vs. a negotiation of a good deal. But it isn't a perfect world. In fact, the sand is flying in this sandbox.
Lets take a peek at the NFL lockout from a bird's-eye view --- a player agent perspective.
Player agents like to be able to provide their clients with answers and solutions to challenges. During a lockout, most of an agent's information comes from their players or a trusted media source. During the lockout, agents spend their time anticipating for (and with) their clients, their clients' financial advisers and, believe it or not, attempting to help players see both sides.
Agents are often business owners as well. So empathy with the owners exists by some agents. Agents are out of control right now, but let's be honest, agents are used to being out of control. Their livelihood primarily exists based on someone else's performance and decisions; and an agent's business model is made up of multiple bell curves and requires constant reinvention and retention.
The NFL has been one of the best sports products in the market. In my opinion, one of the many reasons the NFL has flourished is due to the fact that the players are modern-day gladiators. Yes, they have a unique platform, but they pay a price for it and only have a limited window of time to play in their lives.
The owners also take significant risks, most notably financial, by providing the infrastructure and platforms. Both look at each other as a resource to support their unique professional objectives.
Like anything in life, it takes two to tango. Negotiations typically boil down to greed, money and control; a belief that one party can't live without the other. This negotiation, at its core, is transactional for both parties, making transparency and authenticity difficult to surface.
Many people reading this might think, "but it is just a game --- don't forget that." I agree. No question, jumping out of the sandbox and realizing it isn't a solution to world hunger would support perspective.
Although transactional, results will flourish if discussions are anchored against honoring the game of football. Honoring the game that allows so many people to make a living doing something they love. It's about honoring the people who paved the way and honoring the people forthcoming.
Do I sound too altruistic? Stay with me. It's about honoring the people for which the game impacts. It's about remembering the reality, that it is a game. But the fact is, it is a business and a livelihood for many. And a good one --- let's not forget it.
From my experience and judgment relative to negotiations, the party with the most choices is in control --- and more likely to "win." Who has more choices in this lockout?
Lets take a peek at the NFL lockout from a bird's-eye view --- a player agent perspective.
Player agents like to be able to provide their clients with answers and solutions to challenges. During a lockout, most of an agent's information comes from their players or a trusted media source. During the lockout, agents spend their time anticipating for (and with) their clients, their clients' financial advisers and, believe it or not, attempting to help players see both sides.
Agents are often business owners as well. So empathy with the owners exists by some agents. Agents are out of control right now, but let's be honest, agents are used to being out of control. Their livelihood primarily exists based on someone else's performance and decisions; and an agent's business model is made up of multiple bell curves and requires constant reinvention and retention.
The NFL has been one of the best sports products in the market. In my opinion, one of the many reasons the NFL has flourished is due to the fact that the players are modern-day gladiators. Yes, they have a unique platform, but they pay a price for it and only have a limited window of time to play in their lives.
The owners also take significant risks, most notably financial, by providing the infrastructure and platforms. Both look at each other as a resource to support their unique professional objectives.
Like anything in life, it takes two to tango. Negotiations typically boil down to greed, money and control; a belief that one party can't live without the other. This negotiation, at its core, is transactional for both parties, making transparency and authenticity difficult to surface.
Many people reading this might think, "but it is just a game --- don't forget that." I agree. No question, jumping out of the sandbox and realizing it isn't a solution to world hunger would support perspective.
Although transactional, results will flourish if discussions are anchored against honoring the game of football. Honoring the game that allows so many people to make a living doing something they love. It's about honoring the people who paved the way and honoring the people forthcoming.
Do I sound too altruistic? Stay with me. It's about honoring the people for which the game impacts. It's about remembering the reality, that it is a game. But the fact is, it is a business and a livelihood for many. And a good one --- let's not forget it.
From my experience and judgment relative to negotiations, the party with the most choices is in control --- and more likely to "win." Who has more choices in this lockout?
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