May 15 2013 – We just got word of this cool new tool that lets loyal concert goers get rewarded for their patronage. Pretty cool idea, we can’t wait to see how it actually works for music fans. Below is the press release.
Ticketfly today announced the release of Fanbase, the first customer analytics suite that allows venues and event promoters to identify, reward and mobilize their best customers.
Fanbase’s proprietary ranking algorithm creates a dynamic and actionable list of top fans based on their attendance, spending and social influence. Fanbase allows promoters to seamlessly contact and reward fans with offers such as exclusive presales, premium seating, merchandise and VIP access.
Ticketfly clients can now identify their top fans overall, or on an event-by-event basis, and view fans’ profile pages, which feature an activity feed that shows tickets purchased, social sharing stats and total lifetime revenue generated. Fanbase measures more than a dozen key factors to generate its rankings including number of tickets purchased per order, number of shares and tweets per order and sales that originate from social activity. Fanbase also includes sophisticated technology that helps clients flag ticket resellers.
“In over a decade of leading event ticketing companies, Fanbase may be the most important and innovative feature that I have ever seen, let alone released,” said Andrew Dreskin, Ticketfly co-founder and CEO. “For the first time, promoters can see who their best customers are and reward them for helping to spread the word. It’s pretty amazing.”
Ticketfly recognized the need to develop Fanbase after observing the impact of influencers in the live events industry and the lack of effective solutions for identifying and engaging with these fans. Ticketfly recently determined that seven percent of its customers account for 24 percent of ticket orders and 30 percent of revenue; Fanbase helps promoters mobilize and engage these influencers.
Since launching in 2008, the company has been the leader in data-driven ticketing and marketing. In 2011, Ticketfly introduced its Analytics Dashboard, allowing clients to understand for the first time precisely where ticket sales originate. Fanbase offers a deeper dive into this data with the next-generation Social Dashboard, a powerful new analytics tool that provides clients with a clear understanding of the impact of their social marketing efforts and fans’ social sharing behavior.
“Fanbase allows us to identify our top customers and gives us a lot of different options to reward those folks,” said Reid Benditt, marketing director at Union Transfer in Philadelphia. “Ticketfly has a lot of great things figured out to help promoters sell more tickets. Fanbase is a really strong tool. For the first time, it’s making social media accountable.”
“Fanbase gives fans a voice and gives venues new insight into who their best customers are,” said Sarah Marasco, box office manager for World Cafe Live in Philadelphia. “People will like the interactive nature of Fanbase; they can show how much they love their favorite venue and be rewarded for their loyalty. This is the future of concert promotion – a tool to identify and reward our biggest fans.”
Fanbase is already helping venues and promoters to build a closer relationship with their customers. Clients participating in the Fanbase beta have run fan-of-the-month programs, incentive programs around tweeting and Facebook sharing and many other effective promotions. Overall, 92 percent of clients in the Fanbase beta program said that they plan to use Fanbase multiple times a week to identify and reward their top customers. Fanbase email marketing campaigns experience an average open rate of more than 40 percent compared to an industry average of 20 percent.
Ticketfly clients already enjoy some of the industry’s highest sell-through rates. Fanbase will further increase Ticketfly clients’ marketing effectiveness and drive incremental ticket sales by reducing marketing costs and enhancing customer loyalty.
“Having just launched in Canada a few short months ago to great acclaim and adoption in the live events business, we’re thrilled to offer our Canadian clients access to the cutting-edge technology of Fanbase to identify and reward influencers who make the most difference to their businesses,” said Bruce Morrison, general manager of Ticketfly Canada.
About Ticketfly: Ticketfly is an integrated ticketing and marketing platform for venues and event promoters. The Ticketfly platform provides a full suite of ticketing, social marketing, website, email, mobile and analytics tools that streamline operations and increase ticket sales. Prominent Ticketfly clients include Merriweather Post Pavilion (Columbia, MD), 9:30 Club (Washington, D.C.), Brooklyn Bowl, Austin City Limits Live, The Troubadour (Los Angeles), The Horseshoe Tavern (Toronto), Union Events (Canada), the Preakness Stakes and Virgin Mobile FreeFest.
To find events near you, visit ticketfly.com. For more information about Ticketfly, visit start.ticketfly.com connect on Facebook at facebook.com/ticketfly, or follow us on Twitter at twitter.com/ticketfly.Article – Terry Makedon T-Mak World: Toronto’s Site for Music, Movies and Culture www.tmakworld.com | Twitter | Facebook Get the T-Mak World Toolbar below to get all the info you need