What’s your name and position within the organisation?
Jason Fletcher, CEO of KORE Software.
Can you tell us in less than 100 words what your company does?
KORE Software is the leader in sports and entertainment business management solutions, with offices in Vancouver, Denver, New York, London, and Melbourne. More than 850 brands, properties, and agencies rely on KORE to drive process and revenue improvements. KORE’s suite of solutions enables business excellence across ticketing sales & fan engagement, sponsorship sales & activation, partnership analysis, data analytics, and innovative marketing journeys.
Who are your customers?
We have 850 organizations that leverage our services in the sports and entertainment industry. We pride ourselves in maintaining these relationships throughout the years, turning customers into partners. Our solutions are leveraged by everyone from corporate sponsors, rights holders, leagues, and colleges, to agencies, non-profits, governing bodies, and stand-alone event venues.
What makes you stand out from your competitors?
KORE helps clients power their organizations to the highest levels of financial success. We are distinguished by the expertise our team carries in the industry, and by providing the deepest and most connected ecosystem of product, data, and insights tailor-fit to our customer’s needs.
What are the current trends in your business area, and how are they affecting how you work and how you deliver on strategy?
The clear event that is affecting every organization in our market is COVID-19. As the industry continues to deal with the impact of this global event, we will assume more normal market conditions in order to answer this question.
There are two intertwined themes to highlight. First, is the potential in leveraging data across the entire sports and entertainment ecosystem. It’s not simply about aggregating data points and making this data available for analytic teams, it’s about providing a rich toolset that helps organizations access the right information in the right context, and most importantly, allow them to strategically act on that information. It’s about using data to reach their desired business outcomes.
The second trend we see is a collaborative one. The sports and entertainment world are leveraging software to drive better coordination between themselves and their partners. Through sharing the right information in the right context, organizations can make better financial decisions and work together in new and more effective ways. KORE is the market leader in the sponsorship space, and our software helps facilitate better alignment and execution between brands, the multiple agencies they leverage, and the organizations the sponsor. It’s a complex problem that many organizations face. KORE enjoys tackling the challenge.
How are you harnessing and executing on digital strategy, and what problems and opportunities has this created?
We leverage a digital strategy for our own outreach, but we also help our clients and partners make sense of their digital assets. Digital is an easy channel to execute in, but a difficult one to do well. There is great depth and breadth to this area, which has led to a booming industry of service providers specializing in digital execution and strategy.
KORE’s place is to help pull digital assets and performance into a centralized hub that provides an organization with a holistic view of its outcomes, not simply from a digital angle. We give our clients the ability to understand how digital is supporting their goals in conjunction with other interactions – be it physical venue, e-commerce, premium events, etc. KORE provides the whole picture.
Digital is also an area of rapid evolution. COVID- 19 has forced the market to embrace and quickly ramp up their digital strategies and execution. KORE has helped many of its partners get a handle on their digital assets as they shift value from physical inventory. This trend will continue even as pandemic pressures abate. We see a long-term trend and are investing in product innovation to better help our partners leverage their digital assets for the future.
What challenges have you encountered, and how have they been overcome?
We are a commercial business working in a complicated market, where there are countless and consistent challenges. It keeps us on our toes. If we were to highlight one market-specific challenge, it’s that some organizations idealize the concept of building their own software in-house, underestimating its complexity and cost. It feels embedded into their DNA, as teams and venues attempt to barter sponsorship assets to offset build expenses.
When we see this, we look at it as an opportunity for KORE. We have the ability to educate the market on the long-term costs of maintaining complex systems like these, and offer our extensive, easy-to-use, solution packages, along with our trusted software security, in-depth training, and consulting services.
Is there anything else you’d like to add?
Estimates show that sponsorship is a $50-$70 billion market, not accounting for activation expense – and KORE runs a large percentage of those global sponsorship transactions through our solutions. Sponsorship is central to what we do, and our passion lies in helping partners gain more insight into their business, and ultimately, help drive their success.
To gain more insights into how KORE Software can enhance your company’s business strategy, request a free consultation or sign up for a free demo with our team.
