Ep. 34: Tom Kuhr - 10 Key Trends Shaping Sports Tech Buying

I had the pleasure of sitting down with Tom Kuhr, a seasoned veteran in the world of computer tech, software, and SaaS companies. With 30 years of experience, Tom shared his insights on the evolving landscape of sports technology and the key trends shaping the industry.

Our discussion revolved around an article Tom wrote for Unofficial Partner, titled "10 Buying Trends Shaping the Sports Business." Throughout the interview, Tom and I delved into each of these trends, providing valuable insights and anecdotes from our experiences working with sports organizations and technology vendors.

One of the key takeaways from our conversation is the shift towards a more transparent and collaborative buying process in sports tech. As Tom pointed out, "People are trying to find out where to focus before because there are so many choices out there, so that it really does elongate the sales cycle." This increased transparency and involvement of multiple departments in the decision-making process may slow down the buying cycle but ultimately leads to better outcomes for the organization. Tom also highlighted the importance of quantifying value quickly, stating that "being able to say, here's how the software is performing and here's how my team is performing, or this league's performed like that, performance information is really what you need to talk to your boss with."

Another critical trend we discussed is the importance of data security and privacy. Tom emphasized that "having a fan breach is a severe brand value hit," and sports organizations must prioritize the protection of fan data. As a result, IT departments are becoming more involved in the buying process, ensuring that vendors meet strict security standards and certifications. Tom also stressed the significance of a strong company culture around data security, stating that "it's not only the software tool that has, you know, the right, it's, it's how you behave."

Our conversation also touched on the challenges of selling sports technology globally, with Tom highlighting the need for localization and understanding cultural differences. "Localization is really the key to globalization. You really need to make sure that your technology fits into different markets," he explained. We also discussed the importance of having local representation, whether through an affiliate, a partner, a value-added reseller, or staff in the target country.

Tom and I also explored the importance of integrated solutions and the growing demand for actionable insights from data. As I put it, "It's still a long way to go, especially on the actionability of the insights. So it's clearly data insights, action." Vendors that can provide comprehensive solutions and help organizations make data-driven decisions will have a competitive edge in the market. Tom added that "being able to make recommendations is really the end goal."

The interview also covered the adoption of cloud technology, with Tom emphasizing that "cloud is the way people are moving. There's no debate anymore whether it should be on-premises or in the cloud." We also discussed the future of immersive fan experiences, with Tom suggesting that AI will play a significant role in personalizing and enhancing these experiences for fans at different levels of understanding and engagement with the sport.

Lastly, we touched on the significance of flexible pricing models in sports tech. Tom stressed the importance of vendors being good partners to their clients, focusing on joint success and long-term relationships. He noted that "making it really flexible so it grows over time is really key" and that "attaching that to value and attaching that to growth and attaching that to really joint success is a really good partnership system."

Tom Kuhr offered a wealth of insights into the current state and future direction of sports technology buying. As the industry continues to evolve, organizations and vendors must adapt to these trends to remain competitive and provide the best possible experiences for fans and stakeholders alike. By fostering strong partnerships, prioritizing data security, and focusing on actionable insights, the sports tech industry can continue to thrive and innovate in the years to come.