Data is KING
The use of data is no longer limited to the retail and finance industries. Besides sharing interesting statistics on the JumboTron during the game, stadiums are using data from athletes and customers to enhance the overall experience. In fact, stadiums are actually mirroring the in-home experience, through various mobile applications and amenities that reach the customer right in their seat.
Smart technology solutions provide opportunities for greater customer engagement and convenience for your customers. Even more, advanced analytics as part of an integrated business intelligence deliver insight for faster, well-informed decision making for organizations.
If we think for a moment about the amount of data that can be captured for one customer throughout the day and multiply that by all the customers who attended and multiply that by each event, the number of questions we can ask starts to increase rapidly. These datasets alone may not carry the full value or tell the whole story. But, aggregated and analyzed across multiple business dimensions over time, can provide priceless opportunities getting closer to the customer.
Did you know?
Personalization leads to a 67% increase in transaction value, 300% conversion rate, and 7% annual revenue increase.
As teams and food providers connect the dots – they’re working together and closer than ever to consolidate data from all sources at the venue to develop a complete 360-degree view of their customers.
At a high level, an integrated fan-engagement and analytics model provides a 360-degree customer profile that combines transaction data (date of last visit, attendance statistics, merchandise purchases, food and beverage purchases etc.) with customer-engagement dimensions (membership profile, ticket holder status, etc.), interesting questions can surface that would otherwise be not possible to entertain.
Predictive analytics help organizations dissect data in real-time bringing current trends to life. These tools enable organizations to make adjustments in real-time; adapting and enhancing customer needs before it’s too late.
Not only can data help organizations make adjustments to their operations and offerings; it also bridges the gap to increase customer engagement and revenue not just during the season. Teams can now engage fans year-round which translates into keeping fans in the stadium for the entire game while providing insight into operations.
When you combine demographic data with behavioral and personal preference insights on customer interactions, this creates a rich view of customer data that increases revenue and fan loyalty year around.
What are the benefits of customer data?
- Increased revenue
- Increased fan engagement
- Personalized marketing campaigns
- Predictive fan purchase behavior
- Operational efficiencies
- Drive sponsorship and advertising revenue
- Enhancing the overall fan experience
- And more!
Mobile, the Catalyst of Customer-Centric Data
Mobile offers organizations a variety of benefits including; increased digital channels to convert visitors to ticket purchasers and increased engagement to drive customer loyalty and retention.
Even more, mobile ordering – once your customers are at your venue – drives shorter concession lines, streamlined fulfillment and incremental sales achieved by involving more customers (who otherwise would have skipped making purchases).
But, arguably, the most important is the ability to collect and use data to nurture relationships with customers for the long term. Customer-centric data and analytics enable organizations to provide every customer a great experience, which in turn – increases customer loyalty, retention, and sales.
Ultimately, the goal for sports and entertainment brands is to keep fans on the edge of their seats and make sure the entertainment never ends. Bottom line – providing fans with personalized content and innovative solutions will keep them coming back for more and spending more.
In this digital age, analytics are the present and future of sports and entertainment. Any team that does not apply them to the fullest is at a competitive disadvantage.
- Data has rapidly emerged creating an opportunity for the next-generation of personalized experiences designed to attract and engage more customers than ever.
- Advanced analytics deliver insights in regards to operations and customer purchasing behavior to enable organizations to make faster, more well-informed decisions.
- An integrated fan-engagement and analytics model provides a 360-degree customer profile that combines engagement data, social media data, and transactional data (date of last visit, attendance statistics, merchandise purchases, food and beverage purchases etc.)
- Customer-centric data and analytics enables organizations to provide every customer a great experience, which in turn – increases customer loyalty, retention, and sales.