Monumental Sports & Entertainment, owners of the Washington Wizards, developed Monumental360. The tech gathers fan data to improve guest experience and increase business.
While online retail giants like Amazon have been doing this for years, it is a new idea for the entertainment industry.
Monumental founder, chairman, and CEO Ted Leonsis said in a statement that the main goal of the program is to improve the fan experience at the Capital One Arena in Washington, D.C. Fans provide information like who they follow on Twitter, where they bought their tickets, how they’re connecting to Wi-Fi, what they’re eating, what souvenirs they’ve purchased and more. The result was a shopping experience that catered to each individual person, especially those with a Capital One credit card. They were offered customized concession and merchandise deals based on their preferences.
But Leonsis wants to go beyond offering unique discounts. He wants to be in the business of ‘redefining the bundle’ and believes the whole sports industry should follow suit. If customers are taking an Uber to games, he wants to know; if they’re eating more burgers than subs for dinner at the games, and buying middle level seats more frequently than premium seats, he wants to know that too. The more information fans provide, the more tailored their bundle will be. If Jimmy divulges that his favorite basketball player is John Wall, enjoys burgers and beer at the game, buys mid-level seats and travels by Uber, he will be offered a bundle that includes discounts on featured Wall merchandise, a mid-level seat, a coupon for the burger concession stand, and a discount on his Uber rides. Leonsis also wants to know why and how fans are selling tickets so he can prevent that in the future, or even just cater an experience to the new ticket owner.
The sports industry is just the tip of the iceberg as far as what the businesses fan data acquisition can improve. The concert industry faces similar struggles as sports because scalpers buy and resell tickets. But everyone enjoys a personalized experience, it makes them feel valued. Areas can use the same tactics during concerts as they do at sports events to improve the likelihood that fans will purchase tickets on a legal platform.
Singer Taylor Swift has recently partnered with Ticketmaster to launch a controversial “pay-to-play” system in an attempt to combat the ticket scalping issue specifically at her shows. Fans sign up and watch YouTube videos, preorder merchandise, and post on social media in the hopes of earning a better chance at accessing tickets to her upcoming “Reputation” tour. Not every fan will receive this access, but just the possibility of it is incentive enough.
Taking the program one step further and including personalized data in the fan experience would elevate it tremendously. For example, fans at the metaphorical front of the ‘line’ could be offered personalized discounts on tickets depending on where they want to sit, Uber or food coupons, exclusive merchandise deals while inside the venue and more. Personally catering to concert-goers increases the chance they’ll purchase more tickets through similar channels in the future. Musicians don’t have to be as successful as Taylor Swift to acquire and use fan data to their advantage. Simply letting fans (and customers) know they matter goes a long way. No matter what your industry, the bottom line is this: take advantage of the customer data you can gather through POS systems to personalize shopping experiences. It will pay off!
You don’t have to be a large corporation to benefit from fan data acquisition. The newest generation of POS systems provides a unique opportunity to perform smart customer analysis. Read more about the best POS systems available to your business that will enhance overall customer experience