3 min read
Maximizing the financial success of live sporting events is more challenging than ever. With substantial costs for staffing and stadium maintenance, consistent revenue is critical. According to an Eventbrite report, up to 50% of an event’s revenue depends on ticket sales, yet these can fluctuate unpredictably due to factors like team performance and weather conditions. Additionally, research by Allied Market Research found that only about 20% of attendees purchase merchandise, which is a crucial revenue stream.
Deloitte reports that over 75%+ of fans rate their fandom as being 7+ out of 10. This suggests a highly engaged audience–but, delivering consistent value to these fans is no easy feat. It’s crucial to find ways to enhance the fan experience and activate revenue streams like merchandise sales, especially given the unpredictable nature of sports. The outcome of a game—whether it's a thrilling basketball showdown or a slow-building football match—is beyond anyone's control. You can’t predict when Messi will score a goal or when Ohtani will hit a home run. Due to this inherent uncertainty, most arenas are designed to let fans create their own unique experiences. They can explore merchandise stores, enjoy various concession stands, and watch the game from different vantage points in the stadium.
Given the unpredictable nature of the customer journey throughout an event, pinpointing the most impactful elements that deliver the most value has always been a challenge. The peak-end rule tells us that fans remember only the most intense moments and the end of an experience, so post-event surveys often miss several meaningful touchpoints during a fan’s journey through a stadium or arena. And with response rates often below 30%, organizers have struggled to gather the detailed feedback necessary for meaningful improvements. Until now, that is.
Goodbye Bias & Bullsh*t, Hello Value Measurement
For high-level decision-makers and those responsible for measuring or managing fan engagement, traditional post-experience surveys just don’t cut it. These outdated methods are biased, vague, and often misleading. Imagine having access to precise, in-the-moments insights about the value your fans are getting as the sporting event unfolds. Enter Value Measurement, a groundbreaking approach that taps directly into what captivates the brain, providing objective and actionable feedback on the most valuable moments of the fan experience.
Value Measurement seamlessly integrates into live sporting events, providing crucial insights at every stage. From the moment fans park their cars to their entrance into the stadium, visiting the merch store, grabbing a beer and hot dog, and cheering for their team, you capture in-the-moment data on the value of each touchpoint. No more relying on fans to tell you what they remember ‘liking’ after the fact. Discover which touchpoints deliver fans maximum value, and identify moments that are more ‘meh’ than magic so you can improve them in the future. Pinpoint key opportunities when fans are most likely to buy merchandise or share their experience on social media. Revolutionize your fan engagement strategy and ensure every moment is a highlight.
The best part? Implementing Value Measurement is super simple, from initial planning and design of stadiums or arenas to live sporting events. Imagine effortlessly tapping into the pulse of your audience, just like thousands of other sports event organizers already do. This cutting-edge approach empowers you to measure real-time audience feedback, unlocking insights that can significantly boost your revenue and success. Don’t miss the chance to revolutionize your fan engagement and elevate your sporting events to unprecedented heights. Join the Value Measurement revolution and discover the future of delivering unparalleled value to your fans today.
To measure Value for your sporting event, follow these easy steps:
- Set Up: Navigate to the ‘Invites’ tab in the SIX app, click ‘Create an Invite’, and select ‘Live Event’. Click Share to get a link and QR code which you can add to event tickets or place around the venue.*
- Attendees Opts-In: Your fan downloads the SIX app, where they can opt-in to anonymously and passively share their experience with you. Participation is always voluntary, and data is fully anonymized to ensure privacy.
- Measure In-the-Moment: After opting-in, the app guides fans to pair their smartwatch or wearable and to start measuring. They then enjoy the event as they naturally would*, while our algorithms passively track the release of neurotransmitters like oxytocin and dopamine, signaling experiential impact in real-time.
- Get Detailed Insights: Once the experience ends, open the app to get a FREE Value and Safety Score and a summary of actionable insights. You can also purchase a comprehensive post-event report with a dynamic timeline of experiential impact, demographic summaries, and customized insights to improve future experiences.
By adopting Value Measurement, you can move beyond biased feedback and surface-level insights to truly understand and enhance the value of your live sporting events. Join the ranks of top sporting events organizers who are already leveraging this innovative solution for superior design, execution, and successful delivery of exceptional fan experiences.
Click here to learn more about Value Measurement, or experience it yourself today by scanning the QR code below to see how much your brain loves a fun video!
*Note: Our app uses location services to estimate a fan’s general location (e.g., parking lot, stadium, seat) and provide touchpoint-specific insights. For more precise location-based insights, we support beacon technology. Email info@getimmersion.com to learn more.