session 703 v2 - cdn.ymaws.com...– aboutthe’preso’ – dataeverywhere’ –...
TRANSCRIPT
Agenda and Key Takeaways
• Agenda: – About the Preso – Data Everywhere – Venues leveraging Data for Insights and more Revenue
– How they do it – Conclusion
• Takeaways – How to turn data into revenue
– Best pracEces from venue leaders
– New technology to assist venues in driving acEon from insights
The worlds most valuable resource is no longer oil, but data.
The Economist May 6th 2017 CEO Mastercard Ajay Banga
Speaking at the Future Investment IniDaDve Riyadh October 24th, 2017.
If data is the new oil, how do venues tap into
data’s wealth?
Begin by understanding which data points venues can collect
• Ticket-‐Online/Box Office • POS • Social Media • Beacons • Contest/games • Mobile • Email • AdverEsements • Website • Other?
How to collect Data?
You need to offer your fans a carrot
DC’s Newest Venue: Tapping Data
The Anthem DC: I.M.P. cofounder Seth Hurwitz
About: I.M.P. Entertainment, one of the largest independent live music promoters in the USA. I.M.P. owns the 9:30 Club voted by Rolling Stone magazine as the best club in the USA, the Anthem DC and the Merriweather Post Pavilion as the forth-best outdoor venue. IMP also manages the Lincoln Theatre.
Challenge: The goal of the club and concert Friends with Benefits (FwB) loyalty program was to build a deeper understanding of customers and create marketing campaigns targeted to clientele. Capturing member data from the 9:30 Club (2,000 standing), Merriweather Post Pavilion (25,000 seats), The Anthem (6,000 seats) and Lincoln Theatre (1,300 seats) ticketing, POS, in-venue-merchandise/food/beverage/check-in and disparate IT systems were key requirements, as was social media engagement.
Solution: I.M.P. deployed FwB using the LoyaltyMatch platform, which is delivering the member experience including integration of three POS systems (POSitouch, Lavu, Bypass), ticketing (Ticketfly), social media (Facebook and Twitter), member check-in at venues, member mobile app, merchandise app and websites.
Venue Data Success Story: I.M.P., Washington D.C.
About: Each year 150,000 people attend the four-day, free and paid attendance multi-venue TD Kitchener Blues Festival. About 70 vendors provide the food, drinks and merchandise that attendees want to add to their event enjoyment.
Challenge: The festival is funded through corporate sponsorship and government grants. Therefore, festival organizers must understand which performers, clubs and bars and vendors attract the most people to keep sponsorships and attract more grant money.
Solution: The LoyaltyMatch festival app enabled festival-goers to check-in at various sponsored events, share photos, posts and Tweets via social media and interact with digital signage. The data collected on the LoyaltyMatch platform via the app was analyzed carefully to understand the behaviors of attendees. The festival app helped serve up information on the festival-goer frequency, purchase history, act preferences, and service of their most valuable attendees.
Festival Data Success Story: TD Kitchener Blues Festival, Kitchener, ON
Estimated Upside:
1. Member Revenue: 50% lift. 2. Member Engagement: 20% share of wallet increase.
The Turning Data into Revenue Impact
