Adding Collectibles Business to Unique Sports Experiences Drives Growth for Leader in the Field
NEW YORK, Feb. 13, 2018 /PRNewswire/ -- SUITECONNECT, Oracle NetSuite, one of the world's leading providers of cloud-based financials / ERP, HR, Professional Services Automation (PSA) and omnichannel commerce software suites, today announced that Steiner Sports, a company specializing in sports memorabilia and sports marketing, has implemented NetSuite to help drive business growth. Steiner Sports is using NetSuite for financials, inventory management, order managements, ecommerce and point of sale (PoS).
Equipped with only $4,000, a Macintosh II computer and one intern, Brandon Steiner founded Steiner Sports in 1987. The business has since grown to become the largest company of its kind, even as demand for sports-related marketing has exploded. It is now a part of the Omnicom Group. Brandon Steiner's love of sports, particularly the New York teams, and the persistence and patience to wait outside of stadiums, arenas and parking lots for the chance to approach star athletes, eventually turned into a successful business. The core of Steiner Sports' value proposition allows companies to leverage its expertise, existing relationships, and $25 million annual athlete procurement spend to create marketing efficiencies, and maximize limited marketing budgets. Sports memorabilia and collectibles went on to become a significant part of the Steiner Sports business as clients began to ask for autographed items.
Steiner Sports now works with more than 2,000 athletes and counts more than 100,000 SKUs of collectible inventory worth more than $20 million. Steiner Sports notably purchased the old Yankee Stadium when it was demolished in 2008 selling items off in pieces, everything from the actual seats to bathroom fixtures to the dirt on the old ballfield.
"We have sold millions of dollars' worth of dirt from the old Yankee Stadium," said Kelvin Joseph, Steiner Sports COO and CMO.
Similar to how the meet and greet promotions that Steiner once created sparked demand for memorabilia, current clients are often seeking an experience with athletes, such as a selfie or having them speak at an event. Its long history in the market and focus on personal relationships and helping clients to grow through sports is what helps Steiner Sports stand out in a crowded marketplace, according to Joseph.
As the company grew and expanded beyond professional services and into a B2C business with its collectibles, the previous Microsoft Dynamics AX system it was using no longer met its needs. Steiner Sports had heavily customized the system to help it manage diverse customers that ranged from the Fortune 500 to small businesses to consumers buying collectibles. Steiner Sports selected NetSuite for its cloud-based architecture and regular, painless updates. In addition, NetSuite's unified platform, real-time visibility and focus on customer success were key differentiators.
"NetSuite's business model of really caring about its customers and helping them to grow was attractive," Joseph said. "It's in NetSuite's best interest for their customers to grow and to grow with them. That's what makes it authentic."
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