Luxury Suite ROI is Nebulous: I Get It, Here’s Why

Sitting in a luxury suite, or skybox if you prefer, at the new Mercedes-Benz Stadium in Atlanta will remind you what form did for function. The accouterments are impeccable: paperless ticketing, private elevator, exclusive buffets and beautiful architecture including the 1,100 foot long Halo Board and one-of-a-kind retractable roof. And, at 1 million square feet smaller than AT&T Stadium, you feel its function come alive in ways the large volume of space in Dallas cannot.


In the US, it’s a great time to entertain customers. And it’s only getting better (next up, Los Angeles).

(You’re probably nodding your head in agreement right now.)

Corporations at-large spend billions each year in luxury suite leases alone. The purchasing goals I hear from fellow suite-holders are:

“Relationship building”

“Goodwill”

“Deal-making”

When your corporation leases a luxury suite, whether long-term through a venue/team or single-event via a 3rd party marketplace, there’s a significant financial commitment incurred that’s founded on the belief: ‘You gotta spend money to make money.”

The Question I Always Get

“So what is that return, Brian?”

Well, in my past life, when asked I’d pause, seek the right syntax and word choice, and go with something like this: “We’ve got (this) in the pipeline. We’re budgeted to spend (that). We’re hosting (these targets). It’s just taking longer than we thought.”

(That explanation doesn’t cut it anymore.)

I’m Brian Barker. I’ve been fortunate to experience more than 100 sports & entertainment events in a skybox as an executive leader for a SMB. For 7+ years, I strategized, coordinated, executed, and reported on corporate events for my corporation. We had inventory in multiple venues and a client list of more than 1,400 companies at our disposal. Nice problem to have, except for one thing: I had no industry benchmarks and found no one trying to serve the market in the way I thought they should.

The lack of answers didn’t get me fired, but it caused many frustrating moments for my team and me.

 

So I talked to numerous suite-holders; they shared the same sentiment.

“I don’t talk to other suite-holders. We’re just out here doing our thing, paying our bills, and hoping for the best.”

“We’ve been doing the same thing, year-after-year. I think we’re winning more than we’re losing.”

(These kinds of statements remind me of the best-selling book Who Moved My Cheese?… who’s with me?)

The only way for us suite-holders to find our “cheese” is to do something about it, something different.

Luxury Suite ROI is Nebulous

Surely the luxury suite investment pays off through customer retention, “better relationships” and loyalty.

(You tell me.)

Through my experience and connections to the luxury suite industry, I’ve concluded at least one pain exists:

The luxury suite is a “Black Box.”
Therefore, I’m doing what no one else is: I’m tackling the problem with layered tech, optimizing the experience for guests and hosts to produce actionable engagement and brand loyalty.

My company NextLevelFan is investing R&D into three key event elements:

1. Activating guests during the most critical event moments

2. Authentically engaging guests and leaving them wanting more (Read “Welcome to the Experience Economy” by Pine & Gilmore)

3. Measuring event effectiveness, using both lead and lag measures, in real-time, across a peer network

*Drop the mic… 🙂

Next Steps… Join our Beta tribe

A tribe shares a common language, a common experience and a common void. We just get each other like others don’t.

While your tribe leader NextLevelFan is not yet ready to take a salary (your money), we are ready to find our “people.” We want to add you to our growing list of corporations who agree with: “We believe in this problem and want to help you fix it for us.”

We’re vetting and then selecting just 5-10 more of you for our Beta program. We anticipate it will last through Q3 2018 and possibly into Q4.

Message me to see if you’re a Beta fit!

Here’s the criteria and what we’re asking:

CRITERIA – Corporation with at least 1 (one) luxury suite lease at a major sports venue (e.g. NFL, NBA, NHL, MLB, etc.) OR corporation that purchases at least 10 single-event suite entertainments per year (includes concerts, non-sports-related). You should be willing to complete a <9 minute Vetting Survey and, if approved, conduct an initial face-to-face or Web meeting with your:

a. Executive-in-charge of luxury suite performance (e.g. CEO, VP Sales, CMO, etc.)

b. Event Coordinator AND/OR Marketer

Your involvement will help us establish Product/Market Fit and determine our minimum feature set for a product release in Q4 2018.

Onward…!

Written by Brian Barker

Spent 12+ years running hundreds of B2B events before attempting to save the world as an elementary teacher. When I realized how awesome our teachers are (and that I wasn't cut-out for it), I pivoted to B2B event tech.

My wife rocks! My kids are awesome! I'm just playing catch-up...

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