Last December, we showed you an inside look at the XLIVE Conference in Las Vegas, NV which took a dive into the festival and live events industry. The show was a spectacular 3-day conference that has been an essential in the festival and live events industry. This April, XLIVE hosted one of their satellite events: XLIVE Data & Analytics, which was held at the beautiful Paley Center for Media in Beverly Hills.
With panelists from the industry’s biggest festivals to NFL teams to Netflix engineers and back to the music industry, the XLIVE Data and Analytics Conference did not disappoint attendees. Notable attendees included growth hackers and marketing specialists from some of the top events and music festival companies, even attracting East Coast representatives from The Governors Ball Music Festival in New York.
The main takeaway from the conference was that Data and Analytics are king. With so much growth in the live events and music festival industry, it is important now more than ever to have insightful data and analytics on your customers/fans, their shopping patterns, email open rates, and other key performance indicators to really see how fans are engaging with your brand. Luckily for us, XLIVE made it really easy for us by sharing us some valuable insight from the panelists. XLIVE had slides projected on the background screen with each panelists’ Company Overview, Key Metrics, Tools, and Challenges.
With all that in mind, here’s a few things that we learned from the XLIVE conference that we thought you should know. The first thing we learned was that “if it doesn’t make dollars, it doesn’t make sense.” That’s what Data and Analytics are all about anyway! It’s about making sure that your efforts and dollars are being spent efficiently to make you a better return on your investment. Optimizing your campaigns for more conversions will also help you reduce your company’s spending. A constant theme that we heard throughout the 2 days was that in order to do this you need to provide more value. After you provide value, improve your relationship with your customer by engaging with them. Then just continue to optimize, provide value, engage, and use your data and analytics to convert them into a sale!
Want to attend the next XLIVE event? Check out eSports summit in New York from August 22nd to the 24th. See you there!