Added Value or Value Add

In an effort to beat the competition, sports marketing professionals seek to make opportunities more enticing and beneficial for consumers. One way they do this is through added value. Added value is the enhancement added to a product or service by a company before it is offered to customers. It is anything that makes the product worth more than the cost, and thus more appealing to the potential buyer. In this way the customer gains some additional advantage without having to pay for it. It can also help an organization differentiate its products from those of competitors, thus making direct price comparisons more difficult for customers while simultaneously increasing profit margins.

In the business realm, added value may come in the form of guarantees, special delivery services, enhanced customer service, pre-established credit plans, attractive packaging and presentation, quality assurance, or 24-hour technical support.

It is imperative that marketing professionals conduct research with their public before determining how to add value. Rather than design a campaign, try to find someone interested in the campaign, and then get as much as possible for it, the marketing professional should identify the target audience, develop a marketing strategy to reach the audience, and then develop a campaign to meet the audience's needs and wants. For example, if fans attend a soccer game because of a halftime show, it would be a waste of resources to organize an autograph night with the team.

For college and professional athletic teams, the product is the sporting event, while the consumers are the spectators, sponsors, and financial supporters at the game. Marketing and public relations professionals have very little to say in terms of the quality of competition. What they can influence, however, is the experience enjoyed by those in attendance. For instance, several Major League Baseball teams renovated their stadiums in the late 1990s and early 2000s. Planners recognized enhancing the fan experience would be an effective way to add value to attending games. The planners determined that amenities such as wider concourses, more concession stands and restrooms, and interactive fan-experience centers were renovations and additions that potentially could make attending games more enjoyable. These enhanced experiences were expected to translate into increased ticket sales. At Kauffman Stadium in Kansas City, Missouri, for example, the Royals saw their average home attendance jump from 19,986 in 2008 to 22,473 following a $250 million renovation project in 2009.

Sports marketing professionals also are frequently involved in collaboration with corporate sponsors, those businesses and organizations that pay to have their name associated with an event. In an effort to provide quality customer service, added value is often provided, not necessarily to enhance the current experience but to foster relations for future endeavors. An example would be to invite sponsors to a special ceremony, such as a hall of fame induction, that is not included in the sponsorship contract. Marketing professionals also may provide team apparel, autographed plaques or balls for display in businesses, or ticket upgrades as a means of demonstrating appreciation and a commitment to current and future relationships.

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