AdvertisingAge made an announcement that event giant Live Nation will now geofence their events. Live Nation claims they sponsor an event somewhere on the planet every 20 minutes. They will tag mobile IDs of concert goers and gather information such as the age, sex, how much did the person pay for their ticket, what food or drink did they order and other information.
Live Nation’s technology will track the tagged ID’s social media behavior. When a tagged user places a picture on Instagram during the event, Live Nation may store that information and could repost the image on Facebook as a sponsored ad. Then track the ID’s comments on other social media outlets and possibly repost.
All the information will be loaded into their database and Live Nation will be used to build look-alike models for future events. This will hyper-target their mobile and traditional advertising.
This model reaffirms that not only is geofencing a tool for marketing but the backend data is very valuable. Real-time creative, landing pages, optimization changes can give companies like Live Nation valuable marketing feed back. What T-Shirts were a best-seller, which drink was voted most popular, how many pictures were posted on Instagram and other behaviors. All this data can pinpoint marketing trends in real-time. When you have an event every 20 minutes that’s a lot of valuable data.