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UK data analytics firm Festyvent explains why data collection is so valuable for live events, outlining how a lack of audience insight can leave organisers out of pocket
By Anna Grace on 02 Apr 2019
Year on year, millions of fans happily pay to see their favourite bands and attend their favourite festivals. The challenge for artists and promoters alike is that in many cases they have no clue who the majority of their fans are. Even for those they do know, there is no insight into what they value or how much they are willing to pay to access various products or experiences.
Creating this insight requires the collection of quality audience data and the refinement of that data into clusters of people who have similar artist interest, affluence, life stage, digital fluency and other relating factors.
Festyvent’s touring and festival apps are a key pillar for the collecting of this kind of quality audience data, which when combined with ticket data, mailing lists and RFID data, forms the raw material for the Festyvent data refinery and produces audience insight.
This audience insight removes the guesswork and enables the creation of successful acquisition, retention and cross-selling campaigns, as well as simplifying event planning and improving conversions when pitching for brand activations. Moreover, it also provides insight into artist popularity outside of the headliners, which is invaluable for future line up curation and can be an advantage when negotiating artist fees.
“The ability to view an audience at the individual level is increasingly important to reflect the variations in interests, spending power and channel use,” states Festyvent founder David Jacobs, who presented on the new technology panel at this year’s ILMC.
“The ability to view an audience at the individual level is increasingly important to reflect the variations in interests, spending power and channel use”
“You wouldn’t target recently employed millennials with the same campaign as their 50-something parents. So, while they may live in the same house, Festyvent’s apps and data refinery ensure that the messages they’re sent and the channels that they receive are relevant,” explains Jacobs.
In a recent case study, Festyvent looked at the audience composition of a UK festival to demonstrate the value of audience segmentation. Four axes were used to profile the audience: life stage (young adults, families, empty nesters and retirees), affluence (high, medium, low), digital awareness (from always online to seldom connected) and age group (18 – 70), with the objective of reaching a better understanding of the core audience at the event.
The organisers had expected a crowd of young, not very affluent attendees. Based on this assumption, they had only offered basic camping facilities, provided no fine food options and had partnered with a lower-end beverage brand as their primary corporate sponsor.
Festyvent’s analysis showed that the audience was much older but, more importantly, much more affluent than expected. Even the segment of young adults scored higher on the affluence measure than anticipated. As a result, the festival left money on the table as there was nothing the audience could spend their money on, no glamping, no premium brand food and beverage and no designated VIP zones.
The case study shows that to push monetisation beyond the ticket; the event organiser has to understand the make-up of their audience to ensure that the relevant products, services and brand activations are on offer, when and where the public is willing to spend their money.