Navigating the Digital Frontier: Digital Strategies From Soccer for Small Enterprises
Digital tactics for small and midsize businesses.
EXPERT OPINION BY BENJAMIN LAKER, PROFESSOR, HENLEY BUSINESS SCHOOL, UNIVERSITY OF READING @DRBENLAKER
Illustration: Getty Images
Organizations find themselves at a crossroads as technological advancements reshape the commercial realm. Staying updated and versatile has become paramount, especially when aiming to appeal to a tech-savvy audience. At this juncture, soccer, a sport with global resonance, emerges as an unexpected yet insightful guide.
This universally cherished sport has, over the years, evolved beyond the confines of the field, venturing successfully into the digital domain. Soccer now leverages technology to not only elevate the game itself but also to enhance fan interaction, fine-tune team dynamics, and amplify its worldwide footprint. The methods and maneuvers that soccer institutions employ in the digital age mirror the challenges and prospects encountered by small and medium enterprises (SMEs) in the marketplace. While it might initially seem like a stretch to draw parallels between the world of soccer and the realm of SMEs, a thoughtful exploration of soccer’s digital trajectory reveals a wealth of adaptable strategies. This journey is an endeavor to intertwine lessons from both spheres, offering enterprises fresh perspectives and tools to thrive in the modern digital landscape.
1. The Role of Digital Engagement
Juventus has ventured into the realm of digital innovation with the introduction of the JUV token. Far from being a mere emblem of loyalty, this token amplifies the voices of fans, allowing them a meaningful role in certain club decisions. It offers them exclusive access to unparalleled experiences and opportunities to secure official merchandise. Notably, Bitget was among the first exchanges to introduce this token.
But the JUV token is more than just a digital asset; it’s a gateway. It unlocks unique experiences and provides entry to authentic merchandise, resonating deeply with younger fans, especially those from the Millennial and Generation-Z brackets. These demographics are increasingly seeking intimate and interactive connections with their favored brands. For SMBs, this translates to multiple opportunities for enhancing digital engagement. Options range from user-driven content, gamification, launching proprietary digital tokens, to introducing unique loyalty programs. All these strategies aim to create a cohesive digital community centered on a brand or service.
2. Strategic Partnerships and Collaboration
Bitget announced a partnership with Lionel Messi prior to the release of a film production a month before the 2022 World Cup tournament. The collaboration wasn’t just about leveraging Messi’s international recognition; it was also about collaboration. Messi helped introduce Web 3.0 and digital currency trading to his wide audience. In return, Bitget reaped the benefits of enhanced credibility from Messi’s illustrious reputation, ensuring both the soccer icon and the digital platform profited and garnered attention. In its most recent social effort, Bitget intensified its community engagement by teaming up with Juventus players Moise Kean and Wojciech Szczesny in Los Angeles to back DIY Girls, a nonprofit advocating for STEM education among young girls, emphasizing their dedication to learning and beneficial community impact.
In branding, strategic collaborations such as these have the potential to catalyze transformative growth. Collaborating with influencers or other businesses resonating with your target market not only boosts visibility but also enhances your brand’s credibility. For small businesses, this could mean co-hosting events, joint promotions, or even sharing resources with partners whose values align with theirs. Such initiatives can help in achieving shared objectives, maximizing resource efficiency, and providing mutual exposure to each partner’s audience.
3. Incorporating Immersive Digital Experiences
With developments in virtual and augmented reality, there are new opportunities for businesses to engage their audience. For instance, Manchester City Football Club used VR to give fans a behind-the-scenes tour of its training facilities, allowing supporters to experience the club’s operations firsthand. Similarly, Real Madrid used AR during fan festivals to offer supporters a virtual interaction with some of their favorite players.
For SMBs, such technology can be used to provide a more detailed view of their products or services. A local café, for instance, could provide a VR walkthrough of its sourcing and brewing process. Similarly, a retail store could use AR for a more detailed product showcase. By utilizing such technology, SMBs can provide additional value to their consumers, offering a deeper understanding of their products or services.
And so, while soccer and SMEs operate in vastly different arenas, the overlap in their digital strategies is both intriguing and beneficial. Soccer’s successful adaptation to the digital age provides a road map that SMEs can reference and adapt. By recognizing and applying these shared strategies, SMEs can navigate the challenges of the digital frontier with greater confidence and efficacy. Embracing such interdisciplinary insights could be the key to enduring and thriving in an increasingly digital market landscape.
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.
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