Cultural Shift: How the Experience Economy is Transforming Premium Hospitality

Just a week after the Global Premium Summit organized by ALSD, one key takeaway still sits in my mind: venues are increasingly focusing on experiential strategies to drive growth in premium hospitality for teams and venues. Recent projects, like Everton Football Club Stadium, are clear examples of this trend, with partners such as Forward Associates helping to implement these new visions.

In today’s experiential sales strategy, high-end hospitality areas are no longer an afterthought; they are planned early in a venue’s lifecycle. These areas are dedicated not only to providing the best seats, but also to creating unforgettable, all-encompassing experiences.

The experience economy, in which customers value memorable experiences over material things, began with millennials and has now spread across generations and countries. This trend reflects a change in society in which fans are increasingly seeking experiences that provide deeper interaction with the event and its community.

Leagues and organizers are recognizing this trend as an effective money generator and a way to cultivate loyal fan bases. Instead of simply attending events, fans now want to be part of a thriving culture that enriches their experience, which can range from immersive venues to interactive services that encourage connections.

The approach no longer relies merely on selling a suite or box with the best view; the added value is in the experience itself. This evolving expectation is pushing venues to reinvent their offerings by blending hospitality with lifestyle elements such as exclusive events, private venue access, VIP networking opportunities, and curated culinary experiences—even beyond game days. These initiatives foster a sense of community and belonging, strengthening fan loyalty and ensuring that premium clients feel engaged, valued, and invested in the brand year-round, not just during main events.

By incorporating these personalized, year-round strategies, venues create emotionally resonant environments that strengthen the fan relationship. This approach shifts the focus from transactional interactions to cultivating long-term connections, reinforcing that fan loyalty is built on meaningful, ongoing experiences.

The most crucial element of this experiential strategy is knowing your audience—beyond simple demographics. It’s about understanding their hobbies, interests, routines, and spending habits. These qualitative factors need to be reflected in the customer journey, which will shape the foundation of your sales strategy.

So, where does 3D Digital Venue fit into this experience-driven approach? If you’ve followed some of my previous articles, you’ll already know the answer: a virtual representation of your venue should be a key part of your strategy from the outset. This digital asset enables immersive previews that engage potential buyers even before they set foot in the venue. By offering a virtual experience, you can turn every step of the fan's journey into something substantial, increasing revenue and fan loyalty.

With this shift towards experience-driven strategies, fans are no longer buying just tickets; they’re investing in meaningful experiences. Offering an immersive preview of what that experience will be—via virtual assets like ours—helps create that “wow” factor, ensuring that fans not only return but also get more deeply engaged with the sport and venue.