The value of data: How understanding every fan can grow your profits.

Put simply, why everyone needs to know Josh.

Data has been frequently described as the ‘new oil’. However, as Clive Humby famously said, It’s valuable, but if unrefined it cannot really be used.”  This is the starting point of this blog. There are a huge number of sports and entertainment organisations that know that fan data is valuable, but don’t fully understand how they can actually use it to add value to their business.

And that is why we are introducing Josh… Josh is your typical sports fan. But because someone else buys his tickets for him,  his team actually knows NOTHING about him. This is where choosing the right cashless solution – that gives YOU the data that can help you boost your bottom line – becomes vital.

If you actually knew Josh existed – how could his data increase the profits for your event or venue?

His mobile wallet is linked to a Visa card

How to use this data:

With a white-label mobile wallet, you have the opportunity to partner and unlock huge new revenue opportunities for your business. A white-label wallet gives you the opportunity to deepen your existing relationship with your banking partner, or to create a whole new sponsorship category and marketing stream. 

Banks and payment partners can create campaigns to ensure that their cards are in the “card-on-file position” for the mobile wallet. One of the best examples of this type of partnership was Capital One, who offered to pay half the monthly subscription fee to Spotify users who switched their monthly payment to a Capital One card.

He always parks 30 minutes before the game.

How to use this data:

The longer Josh stays at a game, the better. So encourage him to get to the venue earlier. Offer him a drinks voucher or a free gift if he makes a purchase or spends a specific amount before a certain time.

Think about selling Josh a parking package – an annual pass or a VIP spot. You want Josh to have the best experience possible.

He only ever drinks Budweiser and buys a burger.

How to use this data:

Your sponsor, Budweiser really needs to know this. Providing sponsors with data and insights is an incredibly powerful way of ensuring they stay with you and your brand over the years. Let them market offers to Josh that work for him – a free beer if you win a game, vouchers for buying Budweiser at his local store. They could offer him VIP opportunities that only come to loyal Bud drinkers.

What about upselling to Josh? Offering him a discount if he buys more than just a burger – maybe fries to go with it, or a bonus discount if he buys more beers. This is your chance to A/B test how best to incentivise Josh to stay longer and enjoy more of the experience.

With the right white label cashless solution – you can link spending to your CRM and loyalty programs to incentivise fans even more.

He goes to the store and buys a cap just before Christmas each year.

How to use this data:

It could be that Josh is buying a gift for a friend or that he treats himself once a year. Either way – how can you get him to buy more than just a cap, maybe a team shirt or get him to purchase something earlier in the season. You now know there is an opportunity to incentivise and reward him for spending more with you.

He sometimes misses a game, and his friend, Shanice takes his ticket.

How to use this data:

You now have an extra person to understand – one who clearly likes going to your venue and watching your games. She’ll have to download the app to purchase at the venue – so you will know her spending habits, arrival times and maybe, she’ll be interested in supporter merchandise, a season ticket next year or a chance to come to an event that you hold when the team isn’t playing?

He never visits the venue for other events

How to use this data:

Get Josh to visit his homeground for the concert series you’ve got planned at the end of the season. Give him special discounts, exclusive pre-sales or offers if he buys gig tickets on top of his regular attendance.

 

So you’ve now got an idea of how you could get to know Josh better – and the hundreds of thousands of fans who interact with your brand. How many fans do you currently understand as well as this? With the right white label cashless solution – you can understand everyone.

 

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