“Double Bottom Line” Mentality Will Drive Short- and Long-Term Growth

Savvy sports executives know there’s one stat that matters most: return on investment.

In a post-COVID world, however, adaptable sports executives will be wise to embrace a new parallel to ROI and layer on a focus for Return on Inspiration. 

Those executives that can look to inspire their fans during this tumultuous time will be rewarded for years to come for the positive impact they had on their communities.

Looking to generate both a Return on Inspiration and a Return on Investment is defined as the “Double Bottom Line” and it’s never a more relevant strategy than it is right now.

Growth Mindset

In a pre-COVID world, many in sport operate with a fixed mindset based on the cycle of the sports calendar without much movement for ideation or innovation. As we adopt to ever-changing schedules, sports executives that are best prepared for the return are those that embrace a growth mindset and focus on new ways of doing even the simplest of initiatives. When I was vice president of creative partnerships for the San Diego Padres, I had the pleasure of working alongside current Cleveland Browns Chief Strategy Officer Paul DePodesta. He would routinely ask, “If we had to do it all over again, what would we do differently and why?”

I didn’t realize it at the time but Paul’s perspective on continuing to challenge the status quo defines a growth mindset. Breaking the chain of our routines is more valuable than ever before. 

Disciplined Sprint

How many times have you heard a colleague say, “It’s a marathon, not a sprint?” In a COVID world, it is more accurate to define the pace as a “disciplined sprint.” The speed of decision-making is faster and the stakes have never been higher. Staying focused on short- and long-term goals requires discipline.

Innovation is all about selection. It’s not just about breakthrough ideas, but discovering what is the right idea, at the right time to create the right result. Minor League Baseball provides a map for this process in how they reimagined their season’s opening weekend with a disciplined focus on four key objectives:

Stand For Something: MiLB is all about the fans. Regardless of games being played, they are committed to bring fun, hope and smiles to fans.

Take a Risk: In a matter of days, MiLB developed and executed an unprecedented day filled with 9 hours/innings of content and experiences for fans of all ages, including promotional features, partner spotlights and giveaways. In addition, MiLB took some fun risks and virtually weaved in the national anthem, the 7th-inning stretch, and a postgame fireworks show.

Tell a Story: MiLB creatively showcased its corporate partners. The league partnered with Applegate and Stouffer’s around its MiLB Lunch Bites hour, integrated Guardian Protection into Kids Zone Hour, showcased Nationwide’s MiLB: The Road to the Show content series, and partnered with Echo Tools on giveaways.

New Playbook

In normal times, teams recognize the need to evolve their marketing playbook. The challenge now is to find the right voice to stay relevant in the present while establishing a foundation for the future. As teams look to advance their brand, the framework to localize their strategy from today until the return can be summarized with these four focus areas:

1. Unite the community and inspire: Be on the front lines to find creative ways to bring positivity to the local community and your fans in this moment in time.

2. Create smiles and remove fear through surprise-and-delight experiences: Just like on a game day, create opportunities to bring joy to your die-hard fans and attract new ones.

3. Embrace new media and technology to connect with fans: People are on their devices like never before — find new ways to engage with them digitally.

4. Prepare for the return: It’s not if, but when we return — prepare for the return by standing for something, taking a risk, telling a story and planning for what will be a landmark moment for you and your fans.

Our roles as sports executives mean something more today than they did a year ago and that accountability will only increase in the months to come. The savviest sports organizations will evolve their successes around a “Double Bottom Line.” In doing so, they will new create ideas — leaving them, their sponsors and their fans beyond prepared for the return.

Dan Migala (Dan@Team4FRONT.com) is the co-founder of 4Front, a sports marketing company with offices in Chicago, Dallas and Denver.