Know-How Exchange : Strategy

As far as best practices go that is a big answer. A definition of best practices would be "management practices and work performance that lead to world-class, superior performance."

However a practical example I can give is that here in Phoenix, Arizona, our National Hockey League team is the Phoenix, Coyotes. They have ownership in a professional lacross team called the Arizona Sting. They share the same arena, cross-marketing etc.

Because I have given the Coyotes permission to email market to me, I frequently get offers, both online and offline for free tickets to Sting games, concerts, "The Wiggles Live" etc.

Like the airlines, a filled seat is better than an empty seat if it is filled by somebody who might possible have a lifetime value. In addition they incur revenue from concessions, local merchants benefit, and it is good PR all around.

Now, the Coyotes have not yet offered me free Sting season tickets if I purchased their tickets online, although if the Coyotes keep playing the way the have it wouldn't surprise me if they did.

The point here is that there are a lot of possiblities available when a venue is used by many different entitities and leveraged even more if there is cross-marketing opportunities.

The magic word is F*R*E*E.

Hope that helps.