Andrew Heathcote Rich Lists editor

Andrew is BRW's Rich lists editor and is responsible for the Rich 200 and Young Rich flagship issues. He also reports on matters relating to wealth and investment for BRW and The Australian Financial Review.

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How the sporting bodies do it

Published 10 August 2012 07:45, Updated 13 August 2012 06:36

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Lessons for non-sporting businesses from Tennis Australia and other sport bodies:

  • Data is power. Get as much information on your customers’ and future customers’ preferences as you can.
  • Monitor your competitors. The AFL’s Auskick program has been highly successful for that sport. Several other sports, including tennis, cricket and netball have since increased investment in similar programs.
  • It is never too late to innovate. Tennis has been played the same way on the same size courts for as long as most people can remember. Re-inventing the game has made it much more attractive to a young audience.
  • Collaborate with other industries. Tennis coaches and wealth managers make unlikely bedfellows. Their collaboration through MLC Hot Shots is a powerful example of cross-industry referrals, but don’t get too pushy.

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