“If anything is worth trying at all, it’s worth trying at least 10 times.” Art Linkletter
There you have it. Carmen and I got back from the game at about 11:30 last night. As you can see from the title the Pistons won their first playoff game. Way to go Pistons! The game was awesome and we had really good seats on the first level. The entrepreneur in me was awful intrigued as well. I am always watching advertisers and analyzing how effective there advertising is. In The Palace, where the Pistons play, my head was spinning thinking about how much revenue was being generated right before my eyes. A vast majority of that revenue was being generated via advertising. There was subtle and not so subtle advertising everywhere. One company in particular Rock Financial owns the place I think. They bar none have the most advertising in The Palace. As we went to the game they were giving hats away that said Playoffs 2006, but on the back it said Rock Financial. There is a remote control blimp that flys around the Palace during half time, between periods and before and after the game branded with Rock Financial. Every seat at the game had inflatable Thunderstix (used to clap together and make noise) branded with Rock Financial. The lights circling the dome and on the Jumbotron seemed to flash something about Rock Financial every few minutes.
Observing all of this made me think of several things. First of all how much monthly income does a company have to generate to buy that much advertising? How profitable can the loan industry be? I wonder how effective that advertising is. I am certain Rock Financial has plenty brand recognition but I wonder how much money that brand recognition creates for them? I wonder if they even know? Ultimately, I wonder if it is even cost effective for them. If it is cost effective, I wonder why they choose to advertise in a sporting venue and if there could be a better venue for that form of advertising?
I can not even go to a basketball game without entrepreneurial thoughts constantly running through my head. It can both be a blessing and a curse. Do you ever find yourself thinking about things like this?
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2 comments:
This is a post as you know that got my attention - as you personally know me "JO" I like SPORTS but you were talking my language there referring to advertising in a sports venue. Do you even know how much an advertiser pays in a pro venue? Just to give you an idea in MINOR LEAGUE BASEBALL - I checked into it to get a good idea of what one would pay some time ago with the Richmond AAA affiliate of the Atlanta Braves. A full package with ads on the metric screen, magazine ad weekly, and a billboard was 30k+. Just imagine what it is on the pro level. Just food for thought.... "E"
So "E",
what do you think advertising costs at a Pro sporting event? Shooting from the hip here, I am thinking about 3 million at least?
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