Alexis Ohanian: From $1M to $250M; The Unstoppable Rise of Angel City & The Importance of Athlete Narratives
In today’s dynamic sports landscape, opportunities abound, especially in women’s sports. Alexis Ohanian, co-founder of Reddit, and husband of Serena Williams, is now a prominent investor in women’s sports through his venture capital firm, 776. Driven by the belief in the untapped potential of female athletes, Ohanian emphasizes the importance of digital engagement and authentic storytelling.
He outlines key strategies for clubs and organizations to capitalize on these opportunities, from fostering a relentless mindset among athletes to leveraging the brand safety that women’s sports offer. With momentum building, there’s no better time to invest in and elevate women’s sports.
Embrace Digital Engagement
“If you can't show me a sport where the highlights go viral on social media, you might have some stuff missing.”In the current landscape, the ability to generate viral content is essential for any sport's success. Viral highlights not only boost visibility but also engage younger audiences, drawing in fans who consume most of their content online. Without a robust digital presence, a sport risks fading into obscurity.
Craft Personal Narratives
“The job of a club is to tell the story of our players every minute they're not on the pitch.”Connecting fans to the personal journeys of athletes is crucial. By sharing the rich narratives that extend beyond game performance, clubs can create deeper bonds with their supporters. This storytelling transforms casual fans into dedicated followers who invest emotionally in the team's success.
Adopt a Relentless Mindset
“If you're not relentless every day as an athlete, you're going to be left behind.”The competitive nature of sports demands a relentless pursuit of improvement. Athletes and the organizations that support them must embrace a culture of constant ambition and hard work. This mindset is key to staying ahead in a fast-paced environment where complacency can lead to failure.
Recognize Market Potential
“Women’s soccer is defined by excellence, and I can market greatness.”Women’s soccer has emerged as a beacon of talent and achievement, yet it remains underfunded. Recognizing the immense potential in promoting female athletes opens doors to investment and growth, allowing the sport to capitalize on its strengths and capture a wider audience.
Seek Out Underappreciated Opportunities
“The prices were incredibly low, and I thought, ‘This is all upside.’”The landscape of women’s sports franchises presents a unique opportunity for investors. With franchise prices still relatively low, the potential for significant returns is high. As support for women’s sports continues to grow, these early investments can yield substantial benefits.
Leverage Brand Safety
“There's nothing more brand safe for advertisers than sports, specifically women's sports.”Women’s sports provide a positive and engaging environment for brands. This inherent brand safety attracts advertisers looking for authentic connections with consumers, making investments in women's sports not only a sound marketing strategy but also a socially responsible choice.
Tell Unique Stories
“The storytelling around women’s sports needs to be different, but it’s a gold mine.”The narratives surrounding women’s sports offer rich potential for engagement. By shifting the focus to the unique experiences and challenges faced by female athletes, organizations can connect with audiences on a deeper level, driving interest and changing perceptions in the process.
Invest in Merchandise
“Merch is still an underinvested opportunity.”As interest in women’s sports continues to grow, merchandise sales remain a largely untapped resource. By focusing on quality products that resonate with fans, teams can enhance revenue streams while simultaneously strengthening brand loyalty and visibility.
Be Aware of Competitive Threats
“In the short term, the biggest threat is a competitive league in Europe.”The rise of competitive European leagues poses a significant challenge for U.S. women’s leagues. To maintain relevance and attract top talent, there is a pressing need for proactive promotion and innovative strategies that highlight the unique value of American leagues.
Maintain Business Discipline
“If you don’t have an immunity to the drug of fame and attention, you can mismanage a team.”The allure of fame and celebrity can be intoxicating, but it often leads to poor decision-making. Maintaining a disciplined focus on strategic goals is essential for effective sports management. Successful ownership demands a long-term vision that prioritizes the health of the organization over fleeting moments of glory.
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