Live Nation: 2019 Genius Awards Finalist (Data Analytics Storytelling)
This is the eighth of 11 posts Neustar will be running to highlight the achievements of the 2019 ANA Genius Awards finalists. Winners will be announced during ANA Masters of Marketing Week, Oct 2-5.
LIVE NATION -- THE POWER OF LIVE
CATEGORY: DATA & ANALYTICS STORYTELLING
Every concert or festival creates a flood of experiences on social media. How can you tell which ones were the best?
Live Nation for Brands wanted to better position themselves as an organization that could effectively connect brands with audiences. To do this, they needed to prove that the vast audiences at their shows and festivals would actually respond to marketing at Live Nation events. They also needed to quantify their audience so they could show marketers the kind of demographics that they’d be reaching.
“The Power of Live” was an in-depth research project designed to discover both the Live Nation audience and the KPIs that measured their response to both music and marketing at live events. They found that as live music continued to grow, audiences would both remember the brands that helped them create special experiences and respond favorably to them in the future.
First, the marketers at Live Nation knew that concertgoers create an ocean of data on social media channels – too much data for any team of humans to fully parse. They created machine-learning models in order to ingest and analyze information from a myriad of sources – concert WiFi, ticketing apps, social listening, and even computer vision for social attribution.
In addition, the marketing and analytics team performed a wealth of in-person research. Not only did they perform interviews and ethnographies, they also performed biometric research – galvanic skin response, portable EEG readings, and mobile device accelerometer data – to understand how fans were thinking, feeling, responding, and connecting at their events.
“The Power of Live” was a cross-departmental effort, and its results were made widely available. Multiple groups within the organization took data from the project and were able to create everything from documentaries to data dashboards. In addition, the existence of the project helped to establish Live Nation as an innovator in bringing sponsorship to experiential organizations.
The existence of the project brought material dividends as well, helping other brands decide to pursue sponsorship opportunities as festivals. Due in part to the existence of the project, brand partnership sales experienced a record year in 2019. In short, Live Nation for Brands became recognized as a media organization.
Lastly, their research found a cross-generational hunger for live experiences as an important marker of life events. Fans are over 60% more likely to connect with brands during emotionally intense experiences, and the overwhelming majority say that they would appreciate brands if they were able to enhance the concertgoing experience in an organic manner. In other words, brands have a massive opportunity to gain traction with a loyal audience at festivals and concerts.
It’s one thing to perform audience research. It’s another thing to perform audience neuroscience. This project from Live Nation shows that there’s no limit to the number of useful metrics you can capture – which in turn helps you create moments that benefit both consumers and vendors.
For more about all the 2019 Genius Awards Finalists, click here.
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