Fact: The average US household spends 1.2% of their annual disposal income on fees and admissions to sporting, cultural
and other events. That represents a total national spend of $69bn.* 1
Sporting events, concerts, plays and other public entertainment. In total they add up to a very big industry. A potentially very lucrative market. However, at the same time the proportion of disposable income spent by each individual on such events is comparatively small. Add to this the sheer number of spend opportunities and you have a very selective consumer. A potential audience member is only going to attend your event if it suits their tastes.
As an event owner, the challenge is finding an efficient and effective way of reaching your select audience.
Fact: Total value of corporate sponsorship in US is estimated to be in excess of $10bn. This is heavily weighted towards sporting events (67%) with cultural events being the second largest beneficiary (20%).* 2
Ticket revenue is only half the story – in fact often less than half. Most public events rely on advertising revenue and corporate sponsorship. Whilst there may be some philanthropy in the world, most sponsors are looking to see a return on their investment.
As a sponsor, the challenge is quantifying what benefit your business derives from the event.
The good news is that the answer to both of these challenges is the same: knowing the customer. Whether you call it an audience, a crowd, a membership or any other term, it all comes down to understanding the people who attend your event:
As an event owner:- Who makes up your core customer base?
- Where do they come from? How far do they travel to get to you?
- How often do they attend? What other events do they attend?
- Why do they come to your event?
- What is their experience of your event?
- How well does the event demographic match that of your business?
- What affect does the event have upon your brand?
- How can you quantify a return on your investment?
- How do you maximize your marketing dollar?
Consumer Research can give the quality information you need. But more than just data, you need real insight…
Timely, actionable market intelligence
Our experienced professionals work with you to determine the information you need. We then design and implement the most appropriate way of collecting it.
Using exclusive, proprietary systems and hardware, such as the MAXtrak® consumer research system, we can often capture information whilst still at the forefront of your customers mind – even while they are still witnessing the event.
But it doesn’t stop there. We then analyze and interpret that data to give you the answers you require. For example, we help with key business metrics:
- Customers’ demographic information: who is attending the event
- Customer attitude to the event
- Changes in sponsors’ brand awareness and attitude
- Increased likelihood to buy sponsors’ products or services
It is about delivering insight and suggesting positive courses of action. It is timely, actionable market intelligence.
The results are:- Better marketing ROI for sponsors
- More paying attendees
- Higher average tickets
- More return visits
- Improved sponsorship recruitment
- More profit
* 1 Source: US Department of Labor: Bureau of Labor Statistics for 2005
* 2 Source: Estimated on basis of IEG Sponsorhip Report
