Marketing During Economic Instability

By Allie Crone, Vice President at TurnkeyZRG

Sports organizations, like other brands globally, are feeling pinched during this time of an impending recession and inflation.  During previous times of financial uncertainty, marketing budgets are often the first to be cut as it has been seen as a cost center.  However, speaking with Chief Marketing Officers and other leaders in marketing functions, that does not appear to be the case this time around.  In speaking with them about why, several trends have emerged. 

First, sports organizations are hiring revenue driven marketers.  Through digital or other channels, CMOs can show their ROI and impact sales.  They have become invaluable at accelerating revenue growth especially during these times of uncertainty.  Marketers are also looking to expand into new markets either geographically or to new segments.  By growing reach and engagement the sports industry has been forced to become more sophisticated in order to drive physical and digital experiences to these new audiences. 

In addition, an investment into new digital technologies will accelerate revenues and growth and create more efficient and effective decision making.  This will create competitive advantages however, CMOs will need to navigate trends and investments in unproven technology.  The investment will also capture more valuable customer data to continue to grow reach.  Finally, marketing as a function must continue to operate as the hub of a wheel within an organization and prioritize collaborating across other functions.  It is important for sports organizations to continue to invest in marketing during these uncertain economic times and it begins with CMOs building structure and process and continuously proving a return on the investment. 

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ABOUT TURNKEYZRG

Founded in 1996, TurnkeyZRG is a highly specialized talent recruitment/executive search firm filling C-level, senior-level and mid-management level positions throughout sports, entertainment and media. Over the past 25 years, TurnkeyZRG has filled more than 1,400 positions throughout sports, entertainment and media. TurnkeyZRG helps teams, leagues, stadiums, arenas, theaters, college athletic departments, events, sponsors, agencies, media companies, private equity companies and other clients identify, recruit and hire the very best management talent. Turnkey now benefits from ZRG’s global footprint, full array of industry practice groups, data-driven, analytical search tools, and technology investment in changing the way executive search/talent recruiting is done. TurnkeyZRG becomes a tech-enabled disrupter of the prior executive search model. For more information about TurnkeyZRG, visit www.turnkeyzrg.com.