from amateurendurance.com
August 11, 2008 by Brian
Anthony Barton used to head out to the golf course when he wanted to get face time with clients; now he finds himself on a 50 mile bike ride. “It is just so much easier to talk business out here on the road” says Barton, owner of Perfect Polish, a firm specializing in maintaining restaurant kitchens and dining rooms, “I never knew how many of my customers are doing triathlons.”
Barton is just one of a booming number of business owners foregoing a day at the golf course in favor of a swim, run or bike ride with their clients. According to USA Triathlon (USAT), the official governing body of the sport in this country, that level is high and getting higher. First and foremost, participation is increasing at a steady pace. In 1994, 49,083 single event permits were issued; in 2004 USAT issued 177,040. These are the permits that anyone must purchase if they are not a member but they want to participate in any USAT sanctioned race, which 99.9% of races are. Membership, meanwhile, is on the rise as well. In 1994 USAT boasted 15,194 members in its ranks; in 2004 that number had more than tripled to 53,254. These are the numbers that get the attention of sponsors and race directors. Some other numbers that hook the sponsors - 40% of USAT members fall into the 30-39 age group, a highly influential demographic when it comes to purchasing decisions.
By comparison, the average age of what the PGA defines as an ‘avid’ golfer, one who plays at least 18 holes per week, is 56.3 years old. 37% of golf fans who attended a tournament last year are 55 or older. America may be graying, but their hobbies are not.
Golf has long been accepted as the businessman’s game - four to five hours with a captive audience is a great way to pitch your product or ingratiate yourself with a coworker or prospect
Shrinking budgets, challenging schedules and the Type A compulsion to do more in less time are all changing the games we play.
So what’s a CEO to do? What they always do – too much.
Too much in the triathlon world is the Ironman. Long considered unattainable by us mortals, increased interest in the 140.6 mile event (2.4 mile swim, 112 mile bike, 26.2 mile run) along with an increased number of events domestically and abroad, has made the event a natural draw for executives and business owners. Preparing for one of the nearly two dozen full-distance Ironman events held around the world involves a serious outlay of time, sweat and money. $500 registration fees are just the beginning. Look at the triathlete’s weapon of choice - the bicycle. In a 2000 survey conducted by USA Triathlon, 35% of all members reported spending $3,000-4,000 on their bicycles. It is not uncommon for a serious triathlete to drive a car that is worth less than his or her bicycle. Travel for Ironman events? Even the stateside events can be logistically complicated and expensive. Unless the athlete is fortunate enough to live in Lake Placid, NY, Couer D’Alene, ID, Kona, HI or any of the other locations that host Ironman events, odds are that he or she will be spending over $1,000 to travel to the event, once airfare, hotel, food, bike travel, etc. are taken into account. So where does all that money come from? Well, those that choose to take on the Ironman challenge do well for themselves. Nearly 1,700 competitors toed the line at Ford Ironman World Championship this past October. Their average income was $161,000, according to race organizers. Nearly 75% were professionals and executives. Responding to these numbers, there are even competitions within competitions for executives, such as the CEO Challenge.
And where the numbers grow, the sponsors will follow. While these numbers are compelling, how does it correlate into mainstream recognition, in the form of dollars? Those dollars come from one of three sources – sponsorships, television and participation - and without at least a bit of each, it is tough to declare a sport as ‘arrived’. There are, of course the numerous cottage industries that develop around any sport, whether it be coaching, performance wear, bicycles, running gear or swim equipment. To be certain, though, the number of participants or the shoes they wear mean very little if the sport does not gain traction in the eyes of the marketing managers at companies like Nestle (Power Bar), Timex, and even Ford Motor Company, all major corporate sponsors of Ironman and triathlon in general. Without these investments, no sport can make its way in today’s crowded sports landscape.
“Often times the mark of a successful sport is the sponsorship that it attracts”, says Ian Murray, Director of Coaching for LA Tri Club, the largest triathlon club on the West Coast. “While NASCAR, the NFL, and the like draw far bigger spectators – both with their broadcast contracts and seats in the stands – triathlon participants are the “low hanging fruit” that advertisers and corporations love.” Indeed the sport of triathlon does represent a logical choice for a corporation looking to sink sponsorship dollars into a sport with a signficant return on investment. Looking for brand loyalty? Keep your eyes low at any Ironman event and you are sure to spot more than a few calves tattooed with the famed “M Dot” logo, the official logo of the Ironman brand.
Golf may mean a bag of clubs and a cart while triathlon means a lot more gear than that, the two sports have more in common than just funny clothes. Ditch your clubs and grab a bike – triathlon may just be the new golf.
