Potential WWE Insider
Saturday, June 3, 2017
Tuesday, February 17, 2015
WWE Slams Sports Competition with Superior Fan Experience
When it comes to marketing
in sports, WWE is the gold standard. More than any other sports entity, WWE
presents itself at every local and national level, producing more than 200 live
shows worldwide annually. In marketing, maintaining and broadening a sports
entertainment empire, WWE's dominance can be attributed to its most important
asset, the FAN.
Credit: WWE.com |
WWE has ventured into its newest form of digital marketing by introducing its continuous Internet streaming service, the WWE Network. WWE’s 24/7 streaming network is seen in 170 countries and in over 10 languages. WWE’s Chief Revenue and Marketing Officer, Michelle Wilson, refers to the Network as the Internet’s first “Over the Top” network.
Customer satisfaction and fan engagement remain the main components of WWE’s business model and are of the utmost importance for continued growth in the digital realm of entertainment. WWE Network has a 90% user satisfaction rate according to Accelerant Research. The company incorporates the fans voices into the construction of the sports entertainment model, empowering the passionate fans. The same fans that are quick to undermine the very product they invest in.
A recent example of fan participation in WWE decision making is when the
company had to call an audible and switched gears on WrestleMania’s main
event concluding January’s “Controversial” Royal Rumble finish. The
event highlighted the unproven, but heavily pushed, up and coming Superstar Roman
Reigns winning the Rumble with the assistance of his movie star cousin Dwayne
“The Rock” Johnson. The “WWE Universe” showed their disdain for the
unsatisfactory finish to the evening and the direction the company was heading.
Fans immediately engaged and sounded off on social media outlets with the
hashtag “#CancelWWENetwork”, which ended up trending worldwide by night’s end.
The company made headlines in major entertainment publications, attracting negative attention. This was the result of the heated response from both the raucous Philadelphia crowd who chanted for refunds, along with the Internet community of “Smarks.” Immediately following the bad press, the WWE Network hit one million subscribers and became the fastest-growing digital subscription service worldwide.
The company adapted on the fly and changed plans to the fans liking as WWE integrated fan favorite, indy darling Daniel Bryan into February’s FastLane main event. The match couldn’t have been any better scripted for fan approval, as Bryan will battle Reigns, with the winner receiving a shot at Brock Lesnar’s WWE World Heavyweight Championship at WrestleMania. It is unlikely Bryan will defeat Reigns and go on to repeat headlining status at WrestleMania, but WWE lessened the blow, which will keep the fans tuned in through the month of February. Adjusting the storyline in favor of the fans also leaves the option of turning Reigns to the dark side as he defeats Bryan and gives the “WWE Universe” a real reason to hate him heading into WrestleMania season.
The key to WWE’s success in digital marketing has been
through a committed relationship to its consumers. By offering viewers new
material weekly, engaging with fans through social media, continuously updating
its apps, viral media outlets and even by incorporating fan movements into
weekly programming, WWE has found the secret to successful digital marketing.
The business has discovered methods to keep customers satisfied like never before.
The current state of sports entertainment proves that “Kayfabe” is indeed dead. As
a result of passionate fans gaining access to the inner workings of the
business, “The WWE Universe” wields more control of the company’s direction
than most would think. To ensure continued supremacy WWE will continue to take
the path that the fervent fans guide it down.
Thursday, November 13, 2014
Untapped Investor Opportunities
There is a vast amount of financing
opportunities for entrepreneurs looking to develop a business that encompasses
an individual’s passion in today’s economy. When one thinks of investment
capitalists, they usually think of big financial institutions seeking their
next hefty return on investment with a business that hits the jackpot and turns
into Mega Corporation. This is not always the case with many smaller Micro
Capital Institutions, who are actually looking to improve less fortunate
communities by providing employment, stability, housing and improving families
lives in today’s economy.
It is encouraging to know that there
are so many financial coalitions promoting credit and capital to venture
capitalists looking to start small businesses, especially in low income
communities. For example, the US Small Business Administration was recently
designed to provide $100 million in capital, along with $30 million in
operational assistance grants to 20 new markets venture capital companies in
underinvested markets. The administration’s intention is to promote
entrepreneurs, institutions and organizations to create more jobs, wealth, and
stability within these areas in exchange for a market-rate financial
return.
Community development venture
capitalists set rather lenient qualifications for the applicant looking to
develop small businesses that encourage employment rates and financial growth
in low-income areas. To apply for funding with the US Economic Development
Administration, the applicant must prove that there is a current economic
problem within the applicant’s community. Statistics need to display that the
community’s unemployment rate is at least 1% greater than the national average.
If the startup business can prove that it will encourage local development and
employment opportunities, the concept will be considered for financing.
Criteria to qualify for National Community Investment Fund includes effective organizational leadership, as well as a commitment to providing responsible and dependable products and services to the underserved area. Expectation of providing profits to the investor in a reasonable time is anticipated. Finally, a fiduciary agreement that the applicant represents the investment company in a positive light is expected.
For aspiring entrepreneurs with a clear-cut vision for a business concept within a low-income market, there are copious opportunities to obtain financing. With Micro Capital Institutions, financial opportunities have not only impacted entrepreneurial capacity, but also have improved social economies, schools and job growth. When individuals think of big time financing, they tend to think of big bank institutions, but it’s the smaller economic development organizations that are making the biggest impact on the country’s unemployment rate.
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