The Pipeline Guest Post - Megan Totka
There are not many events that compare with the excitement that is the NCAA College Basketball Tournament. The Super Bowl, Kentucky Derby and World Series are all great spectacles. However, something about March Madness draws in a wider audience and sparks excitement of people of all ages around the country- 181 million viewers tune in throughout the NCAA tournament each year to cheer on their favorite teams.
Are you wondering if your small business can benefit from March Madness? It can, and you don’t have to run a popular sports bar; nearly any business can learn some valuable lessons from the month of madness, some even as simple as the power of simplifying your sales. Here are five small business lessons you can take away from March Madness.
The underdog might win.
Everyone loves a happy ending, and Cinderella teams are practically a guarantee during March Madness. There are always a couple teams that no one has heard of that win one game after another in the tourney. Teams, like businesses, aren’t always operating on equal footing. Some schools have more money and more talent. But bigger is not always better and the tournament doesn’t always play out according who “should” win. Like players on a winning team, owners of successful businesses have personal characteristics such as a positive attitude, commitment towards their effort, patience and persistence – traits that can all help a team go far and a business succeed.
Embracing new technologies is smart.
The NCAA hasn’t been content to stick with what technology has worked in past years. Like plenty of organizations of every size, they have tapped into technologies to help connect with their fans and find new ones too. Remember that change is important in an organization. The adoption of new technology can seem disruptive and intimidating initially, but ultimately the change almost always results in increased productivity and improved service. It’s one of many ways to create a customer-centric culture.
Take advantage of your biggest events to earn new fans.
March Madness is unlike other sporting events because it attracts non-sports fans. The popularity of office pools, game-viewing parties and other factors engage a broader audience and increase the hype around the tourney. Use the biggest moments in your business year to connect with a wider audience. Think about events your business held throughout the year, peak seasons, new product launches and charitable events. Always remember that as you earn new fans and strive to retain current fans, good customer service is essential to help your business thrive. Keep your sales simple and focus on activities that drive constant success.
Capitalize on momentum – run with it!
Basketball, like business, can come down to momentum: accept when its time to take a timeout, know when to ride the player and occasionally take a seat on the bench. Build upon short-term successes but continue to pursue long-term goals. When things aren’t going the best, don’t look too much into it – make the most of the momentum and rely on and trust in your teammates.
Encourage friendly controversy to create some buzz.
The tournament kicks off every year with “Selection Sunday.” This is the day when the tournament participants are placed, seeded accordingly and announced on TV. There is always some complaining and banter surrounding it all, and this day gives the media and fans plenty to discuss prior to tip off of the first game. Some friendly controversy can create some healthy hype around an event, product or brand, and in turn, result in a better turnout.
March Madness gives viewers the best of sports and entertainment, upsets, and a lot of fun. Those with the most wins are the teams who trust in each other. After all, the biggest wins happen when everyone works together and focuses on the team as a whole.
What valuable lessons has March Madness taught your small business?
About Megan Totka
Megan Totka is the Chief Editor for ChamberofCommerce.com. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide. She specializes on the topic of small business tips and resources and business news. Megan has several years of experience on the topics of small business marketing, copywriting, SEO, online conversions and social media. Megan spends much of her time establishing new relationships for ChamberofCommerce.com, publishing weekly newsletters educating small business on the importance of web presence, and contributing to a number of publications on the web. Megan can be reached at email@example.com.Photo via flickr.com