10/16 Media Relations with Skate boarding example

Media Relations Plans in Sports

  • Purpose of Media Relations Plans

    • Ensure consistency in messaging for sports teams and organizations.

    • Facilitate understanding of objectives across the team.

Components of a Media Relations Plan

  • Media relations plans can be comprehensive and lengthy.

    • Example: Tampa Bay Buccaneers' media relations plan is 278 pages long.

  • Plans are typically updated annually.

Executive Summary

  • Definition: A statement outlining the current situation of the team or event and the business objectives of the PR plan.

    • Simpler explanation: "this is who we are as an organization, this is what we're doing, this is who we want to be, and this is how this plan will help us get there."

    • Answers key questions:

    • Who we are?

    • What we're doing?

    • Where do we want to be?

    • How do we plan to get there?

Key Messages

  • Key messages are crucial points intended for stakeholders to know about the team or event.

  • Articulated within the media relations plan to maintain consistency.

  • Importance of consistent messaging for organizations.

    • Example: SUNY Cortland ensures new faculty understand key messages.

Principles of Efficiency in Business

  • Definition: Achieving maximum effectiveness with the least cost.

  • Understanding the target audience and appropriate media is essential for efficient outreach.

Example Case: Skateboarding Events

  • Scenario: Brad wants to initiate skateboarding events on the East Coast and utilize Nassau Coliseum.

Revenue Sources

  • Without broadcast rights, primary revenue source is ticket sales.

  • Advertising plays a vital role in promoting events and attracting an audience.

  • Efficiency in Advertising: Maximizing attendance with minimal costs.

Target Audience Identification

  • Demographic Profile:

    • Mainly boys aged 13 to 24 years old.

  • Media Consumption:

    • Social Media: Primary platform due to cost-effectiveness and analytical metrics.

    • Trade magazines: Relevant literature such as skateboarding magazines.

Advertising Options

  • Posters: Displayed in skate parks and skateboarding merchandise stores.

  • Flyers: Distributed in malls.

  • Radio Advertising: Options include:

    • Hot 97 and Z100: Suitable for the demographic.

    • 1010 WINS: Not ideal due to an older, affluent audience and high costs.

Promotional Ideas

  • Incentivize participation through giveaways (e.g., Vans gift cards, skateboards).

  • Offer sweepstake entries with ticket purchases as part of promotional strategies.

  • Note: TV advertising is significantly more costly.

Advertising and Promotion Strategies

  • Ideal advertising on ESPN during X Games; however, it is too expensive.

  • Word-of-mouth and flyers may lack reach, especially for audiences from other regions.

  • Cross-Promotion: Partnering with music artists can increase appeal but also entails higher costs.

  • Focus on identifying the best media for the target demographic to ensure effective reach.

Media and PR Plan Development

Implementation Planning

  • Details: Outlines timing and methods of plan execution.

  • Includes strategic steps.

Budgeting Essentials

  • All plans require a budget based on anticipated income.

    • Estimate must include overall income, expected expenses, and anticipated profit/loss.

  • First-time events: Conservative estimations recommended.

  • Recurring events: Use figures from prior years for budget development.

Sources of Income

  • Tickets: Primary sales vehicle.

  • Concessions:

    • At Nassau Coliseum, Aramark has the right of first refusal for concessions.

    • In case of declining Aramark, outside vendors may yield 10% of concession profits.

  • Merchandise: Vendors offer skateboards and apparel at events.

  • Sponsorships: Includes signage around the venue.

  • Live Streaming: Considered as a potential income stream.

  • Parking Fees: To be included in revenue calculations.

Expenses Breakdown

  • Venue Rentals: Cost for Nassau Coliseum.

  • Equipment:

    • Berms, ramps, and rental options for initial events recommended.

  • Considerations for Buying Equipment:

    • Construction, deconstruction, and storage add further costs.

  • Expenses related to food, staffing, electricity to be managed by organizers.

    • Revenue split based on profit, not gross revenue.

  • Insurance and Bonding: Essential for event liability coverage, as well as coverage for professional skaters, including prize money, flights, and accommodations.

Financial Outlook

  • Profit and Loss Projections:

    • Thorough estimation of income and expenses necessary to assess financial viability.

  • Many businesses experience initial losses; learning from experiences can pave the way for future success.

Sustaining Losses in Business

  • It is common for businesses to endure losses for several years, particularly in the restaurant industry, marked by high failure rates.

  • Many enterprises remain financially negative until high-traffic seasons, such as post-Thanksgiving.

  • Maintaining strict cost control is vital for new establishments.

  • Golf Courses Hosting Tournaments: Often don’t profit directly but benefit from enhanced visibility and reputation, attracting players and memberships.

    • USGA support may alleviate ongoing maintenance costs and improve facilities.

Financial Responsibility of Business Owners

  • Warning against assuming excessive financial liabilities.

  • Consulting with financial advisors or CPAs recommended for long-term planning and cost management.

  • Poor accounting remains a leading cause of business failure, so proper capital allocation is essential.

Evaluation Plans

Importance of Evaluation

  • Every business should employ mechanisms to assess whether they meet objectives.

  • Evaluation in education is structured through syllabi that include clear objectives.

    • Tools such as exams and quizzes serve dual purposes:

    • Measurement of student learning.

    • Assessment of instructional effectiveness.

Stakeholders

  • PR plans often conclude with inquiries about prospective stakeholder engagement.

  • Stakeholder Definition:

    • A stakeholder possesses any interest, financial or otherwise, in the success or failure of the organization.

    • Not restricted primarily to investors.

  • Example: Stakeholders for the Boston Celtics include:

    • Fans, sponsors, media, the NBA, staff (players, management, coaches, owners).

    • Recent acquisition of the Boston Celtics by the Chisholm Group in August 2023 for $6.1 billion.

Interview Process Insights

Recommendations for Job Seekers

  • It is good advice to purchase a share of the Boston Celtics to enhance resumes with “part owner” status.

  • Success in interviews often hinges on relating to the interviewer and displaying personality.

    • Interviews are described as “personality contests,” where interviewers assess enthusiasm about organizational success.

Key Interview Insights

  • Humor can elevate candidates in interviews:

    • Example: Enter with the intention to make the interviewer laugh.

  • Example of a humorous resume mention (e.g., owning a share of the team) can ease the interview process.

Investing in Sports Teams

  • The Atlanta Braves are publicly traded; shares valued at approximately $42-$44 each.

  • Shareholders receive compensation during buyout offers based on share ownership.

  • Example of investing in cryptocurrencies, referencing XRP's potential to mirror Bitcoin's success.

Stakeholder Perceptions

  • It is essential to cultivate the desired impressions for each stakeholder group.

  • Boston Celtics case:

    • Players should perceive a commitment to building a successful team.

    • Investors need reassurance about potential returns on investments.

Communication Media in Stakeholder Engagement

Forms of Communication Media

  • A wide array including:

    • Social media, advertising, annual reports, TV/radio, newsletters, word of mouth, direct mail, and brochures.

Practicality of Media Use

  • Consider accessibility and cost for both organizations and stakeholders when choosing communication channels.

  • Example given: Entry-level broadcasting jobs advertised affordably to college students; more senior positions on specialized platforms.

Tailoring Messages

  • Understand what will resonate most with different stakeholder groups.

  • Example: Expectations of Boston Celtics players differ significantly from investor priorities.

Player Motivation and Management

Perceptions of Winning

  • Contrary to common belief, winning might not be players' main concern; financial compensation is often prioritized.

  • Effective management should communicate care for player performance and personal welfare (e.g., family provisions).

Important Impressions to Convey

  • Players should feel:

    • Personal connections and concern for their comfort and security.

    • Assurance that management is attentive to their needs, including financial compensation.

Assessing Player Needs

  • Understand and cater to individual player motivations to foster organizational loyalty and performance.