Venue Summit: Sponsorship & branding
Hosts: Dom Hodge, FRUKT (UK) & Mark Lambert, The O2 (UK)
The session opened with statistics highlighting the popularity of music for brands. Sharing the growth of the experience economy, hosts Hodge and Lambert said that 45% of marketers cite content and experience management as their top priority in 2018; and that 36% of marketers see delivering personalised experiences in real time as the most exciting area in sponsorship.
FRUKT's research demonstrated that 84% of consumers say that music is the most effective way of communicating with them. 95% say they would tell friends about brands that deliver entertainment experiences they enjoy in music. 76% were likely to buy a product from a brand that delivers in music.
Hodge said that more and more in both Europe and in the USA brands are anchoring investment in tours but are building major content strategies around their investment. For example, Comcast’s deal with Katy Perry had digital platform supporting her tour.
According to Lambert, rewards programmes are likely to become more popular and effective for brands that want data, pointing to O2's Priority and the likes of Sky and Barclaycard.
The pair advised that it’s important to tailor campaigns to timings eg pre-, during- or post-event. For example, some fans don’t want to be communicated to while they’re at the event; but there are opportunities to share the enjoyment of the build-up, or to share memories afterwards. Consider how you can engage during those points.
They also suggeted looking at the end-to-end journey – can you leverage the full attendance experience from ticket purchase to extending the story post-event?
Another trend is the use of technology and creative technology. The key being creative or tactile tech. Can you create playful and fun experiences in a relevant way? They advised not doing technology just for its own sake.
Finally, they said that extra levels of personalisation will become a powerful tool. Fans want to be able to share experiences that don't just feel like they’re broadcasting a pre-decided message. Think about how they can put their own signature on the experience.
The Venue Summit 2018 was run in association with: