Business Model Canvas in the World of Sports

In our lastpost we began creating a business model canvas for a soccer team. We created the Value Proposition. In this post we will continue to fill out the business model canvas.

Ok, so we know that we provide entertainment and an emotional connection for fans, and that makes us unique to them, we give them a special relationship while we entertain them. We can say that we provide an experience of entertainment. Knowing our value proposition is great, but we still need to find out exactly who our customers are; we can’t produce value without knowing who they are, this is called customer segment in the canvas, and we have to ask ourselves several questions.

The first one is tied to the value proposition; for whom are we creating value? For our soccer team we need to think of these questions by asking ourselves who do we wish to attract and engage as a fan of our team? It could be men, women, a family crowd, young adults, children and so on.  Thankfully soccer has a broad market due to the attractiveness of the game so we are able to attract all of the different markets mentioned before. Soccer is appealing to both male and female, raging from ages 12 through 50+, this gives our canvas more information in order to make our business and value proposition successful.

With this information we can move on to another question; who are our most important customers? To answer the question we have to do two things, first create a hypothesis, creating a hypothesis is very simple, we just have to ask ourselves where do we want to focus our efforts and who would we like to see using our products. This means, do we want to focus on kids, young adults, females or older crowds? For example we could say: we want to segment our market into young male adults, ages 18-35 with a income of 30k-50k and also family crowds, where there are children between ages 12-15 with an income of 50k-70k.  This is where you need to stop and understand this is just theory we need to see if this is true, how do we do this? with  customer development. What we basically have to do is try to interact with as many potential customers and see if they are the right market for our product (soccer entertainment), this requires experimenting with our valueproposition. Once we do this we can truly find out who are our customers and how we can segment the market.

So our after following this process we can see how our canvas looks:

In step 1, we created a hypothesis of our market, as you see this is very general, we understand that soccer is very appealing to diverse markets, then following the customer development and value proposition experimentation, we came up with step 2, by interacting with potential customers we actually discovered who our customers really were and even got more detailed information about them, this allowed us to segment our market and be prepared to serve those two market segments in a unique way as they are aligned with our value proposition.

So now we understand what we will give to our customers (value proposition) and who are our most important customers (customer segment). Following the lean start up methodology we can say that we have something to offer that is actually attractive in the sports entertainment field! This validation positions our soccer team for success in the industry!

Our aim at Passionis is to align fans expectations with any kind of sports team (or organization) who can cater to their needs; this will create a win-win situation and actually enhance profitability for sports teams without letting down fans, which in reality are   customers for sports entertainment and related products. 

On our next post we will continue to build up our business model canvas!