Revenue Generating Activities for Music Festival Customer and Lead Data.

The data held by music festival entities is a valuable financial asset of the business and usually consists of both existing customers and unconverted leads. What activities can organisers conduct to generate additional incremental revenue using this data that requires minimal investment.

The valuation of many businesses is not just measured in tangible physical assets but more importantly the data held by the organisation. Music festivals conduct numerous promotional and operational activities that results in the collection of vast amounts of data which in many cases sits idle. How can organisers use this data to create new revenue generation streams and increase incremental sales volumes by putting their data to work.

Data Collection and Technology.
Festival entities collect data from festival-goers who purchase tickets and additional goods or services plus non-buyers who previously expressed an interest in the event. Organisers should have a robust data collection plan that enables them to track every touch point an individual has with the festival along with relevant demographic information. Whilst many organisers use CRM (Customer Relationship Management) software systems to store data, some will invest in more sophisticated Customer Data Platforms which can enable a higher degree of data manipulation. Data is typically collected from marketing activity and sales processing, but there are additional capture points like on-site RFID wristband movement and purchase activity. All data collection and use must remain compliant with any prevailing GDPR rules which ensures the protection of personal data.

PR and Marketing Research.
Although not a direct revenue generation activity, a good Public Relations article can help to drive traffic and increase lead generation. Organisers can trawl their data to reveal interesting facts about festival-goers and their behaviour. This research can be used as the basis for articles published by appropriate media outlets. Some organisers partner with local tourism authorities to share data insights which can help to drive overall traffic for the festival and tourism related services. Tomorrowland have partnered with the Tourism Authority of Thailand to create packages that incorporate the new festival and other tourism activities. A partnership that is strengthened by sharing insightful data on expected festival-goer profiles, for example.

Sponsor Partnerships.
Organisers can use insights from their data to help secure valuable sponsorship deals and is often a key element of pitch proposals made to potential sponsors. In some cases, the organiser and potential sponsor may employ an independent, secure third party to conduct a data merge exercise between both parties. This can reveal potential demographic and behavioural matches which can persuade the sponsor that the festival’s customers are a perfect fit for their own target audience. Some sponsorship deals can be secured by including enhanced data collection of purchase data and other behaviour.

Segmented Data Targeted Campaigns.
A well organised Customer Data Platform can hold vast amounts of information that enable the creation and execution of hyper-personalised marketing campaigns. This will require the profiling of customer and lead activity to build in triggers that run re-targeting campaigns to push them into a sale. These can be linked to unique time limited offers and discounts that relate specifically to their demographic information and behaviour. More personalised campaigns can deliver better response and conversion rates which will be as a direct result of understanding the demographic and behavioural data. This may result in hundreds or thousands of micro campaigns which can be automated to run when certain parameters are met. Testing different concepts and scenarios builds improved understanding, which enables future activity to be refined. This manipulation of data can increase sales revenues from existing customers and unconverted leads for a minimal investment.

For festival organisers planning their next event using a software management platform like Festival Pro gives them all the functionality they need manage every aspect of their event logistics. The guys who are responsible for this software have been in the front line of event management for many years and the features are built from that experience and are performance artists themselves. The Festival Pro platform is easy to use and has comprehensive features with specific modules for managing artists, contractors, venues/stages, vendors, volunteers, sponsors, guestlists, ticketing, site planning, cashless payments and contactless ordering.

Image by Kindel Media via Pexels

<< Back to articles