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‘The Killer Element’ – Avoid this 1 Mistake Founders Make When Pitching to Sports Brands

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‘The Killer Element’ – Avoid this 1 Mistake that Founders Make When Pitching to Sports Brands

Real-World Example:

Timmo’s Pitch Gone Wrong

Let’s talk about Timmo, a 32-year-old sports tech founder. He developed a powerful AI system to enhance customer service efficiency but struggled to pitch it effectively to a top sports brand. During a critical meeting, Timmo pushed straight into full integration, and direct interaction with fans. This approach missed the mark entirely for a risk-averse sports brand.

Sports executives prioritize avoiding mistakes and minimizing unnecessary risks over potential gains. Timmo’s failure to address these concerns led to a quick dismissal of his otherwise innovative solution. This example highlights the importance of understanding your audience’s priorities and tailoring your pitch accordingly.

When it comes to pitching to sports brands, many sports tech startups struggle with crafting a compelling value proposition. At HYPE, we’ve facilitated over 600 business engagements between startups and sports brands, revealing a significant gap: 85% of startups fail to align their pitches with the specific needs and risk profiles of sports properties. Here’s how to avoid the common pitfalls and deliver a killer value proposition.

Crafting a Killer Value Proposition

Here’s how to avoid the mistakes Timmo made and create a value proposition that’s impossible to resist:

1. Proper Approach: Minimize Risk

Sports properties are highly risk-averse, especially when it comes to new technology interacting with their fan base. Instead of suggesting a full-scale integration, propose a risk-free pilot program. For instance, a weekend-long focus group could showcase your AI system’s capabilities in a controlled environment. This minimizes risk and allows the brand to experience the benefits firsthand, building confidence in the technology.

 2.  Make It A No-Brainer Decision

Your value proposition must be so compelling that it becomes a no-brainer for the brand executive. Focus on these 4 topics:

– Eliminate Risk: Demonstrate that your pilot program is risk-free and that any potential issues have been thoroughly addressed.

– Highlight ROI: Clearly show the financial benefits, including cost savings and potential revenue gains, making the ROI evident and attractive.

– Simplify Implementation: Outline a straightforward, hassle-free implementation process to ease concerns about integration with existing systems.

– Free Pilot: A fast way to get into the brand is to offer a free pilot to showcase the impact of the solution, once there is proven POC it will speed the full commercial agreement and partnership.

Join the Conversation

Securing a partnership with a sports property requires a nuanced approach that prioritizes the brand’s needs and concerns. At HYPE, working with over 100 brands, our data reveals a stark reality: in the fast-paced world of sports tech, even the most innovative solutions can fall flat if not presented correctly.

Ready to tackle these challenges and revolutionize the sports industry? Connect with us at HYPE Sports Innovation and join our ecosystem of innovators pushing the boundaries of SportsTech. Together, we can create impactful solutions that enhance performance, engage fans, and redefine the future of sports.

With love for sports and innovation,

Amir Raveh, Founder & President, HYPE Sports Innovation.

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