How is Bruno Mars going to follow up last night’s halftime performance?
He’ll be heading out on his Moonshine Jungle tour with dates across North America. Of course, the company behind the tour, as well as the tickets and many of the venues, is Live Nation.
According to John Forese, who joined the company in 2011 and runs the newly formed division, LiveAnalytics, “… our fan and event data was spread across disparate systems and databases throughout the organization.” He continued in a recent AdAge interview, “If you go back four or five years, we really hadn’t thought of ourselves as a data company. Now it’s a core part of our DNA.”
The data that is collected and analyzed helps the company understand the motivations of each customer. For example, are they a diehard fan of the artist or did they just come to hang out with some friends?
Transaction data, primary research, engagement data as well as third party details gives their team of 20 researchers and analysts the ability to segment, target and profile specific groups.
Imagine all of the social media data that was generated about Bruno Mars during the Super Bowl. It’s not hard to imagine how Live Nation will use this data to help reach those same fans and sell out his tour.
Roll Up Your Sleeves
As Mr. Forese says, “The most important but less glamorous side of analytics is putting infrastructure in place to enable one common and holistic view of the fan.”
To that end, they have made considerable efforts to drive the entire company forward with a data centric view. “Think ‘Moneyball’ for concerts and ticketing.”
Live Nation also makes these insights available to their concert and venue sponsors so they can maximize their ROI by investing in the concerts and events that best reflect their customer base.
With the upcoming surge in mobile location based analytics, Live Nation will also be able to help sponsors reach specific members of the audience, while providing them with customized offers.
A similar opportunity exists for radio. How many email club members, also receive station texts, participate in a loyalty program, stream and/or follow the station on social media?
Those numbers without a strategy are interesting, but won’t be transformative. However, by integrating these station data sources, not only can we help clients more efficiently grow their ratings, but it also allows their sales team to provide their best advertisers with privileged audience access.
To discuss how data driven audience insights can provide you with a significant competitive advantage, please contact Andrew Curran, COO at DMR/Interactive.