Monetizing Artificial Intelligence for Events An Industry Presentation with IBM Watson

Transcription

1 Monetizing Artificial Intelligence for Events An Industry Presentation with IBM Watson Moderator: John Short, IBM Panelists: Stephen Cunningham, Data in Action Analytics Danielle Shuff, Connect Partnership Group

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3 In the future, every decision that mankind makes is going to be informed by a cognitive system like Watson, and our lives will be better for it. - Ginni Rometty, CEO IBM 3

4 What s in it for Me? 4

5 The Possibilities New Revenue for More Exhibitors Guest Insights for Bigger budgets Opening receptions Bigger (more) booths Local Interests More events Sponsorships Competitive edge WiFi network Hospitality breaks Keynote speaker Monetize exhibitors Enhanced value Measurable activity Travel / Ride Sharing Hotels / Restaurants Demographics 5

6 AI Meets Live Events 6

7 Why AI for Live Events? The Smartphone Era The Power of Data, the world s most valuable resource New Revenue opportunities capitalizing on guest digital connection Data is the New Oil

8 How Does Live Event Analytics Work? Monitor Measure Monetize

9 The Process Captures raw WiFi network data and geo-location information Uses Watson s artificial intelligence to develop valuable insights Uncovers customer demographics, interests, behaviors, sentiment and purchase intent Turns an unknown customer into an anonymous customer into a known customer Enables data driven, targeted business actions

10 Events Ballparks Public Venues Convention Centers Amphitheaters

11 Actionable Insights AI can be trained to identify an endless number of data sets Market Spending Travel Interests Social Media Sponsorship - Hotels - Restaurants - Transportation - Airline travel - Shopping - City information - Things to do - Platform preferences - Sponsorship engagement - Exhibitor engagement

12 Example #1 Sponsorship of Wi-Fi Network Question: How can sponsorship revenue be generated by leveraging the Wi-Fi network? Insights: User can be converted to anonymous or known when logging into Wi-Fi Interests, behaviors, demographics captured Promotions can be personalized depending on authentication Monetize: Branded landing page Call to action advertising Custom data analysis based on a brand s objectives

13 Example #2 Sponsorship Efficacy Question: What auto brands index the most? Insights: The top 4 brands are venue s sponsor brands Electric cars score high Tires and car shopping, two interest areas appear on the list Monetize: Sponsorship renewal, upsell, new sponsors

14 Example #3 Airline Category Question: Travel is inherent to the business of conventions How to generate sponsorship revenue from the airline category? Insights: There is one airline trending above all others Competitor airlines not even a close second Monetize: Sell Delta on protecting their status as #1 airline used for event Sell challengers on market share to be gained

15 Example #4 Sponsorship Measurement Question: What are the fan s reactions before, during and after a sponsor in-stadium scoreboard feature? Insights: Category activity was low at game start Spiked brand awareness during 1st and 2nd promotion Higher activity through the entire event after promo 1st Promotion Start of Event 2nd Promotion Monetize: Sell more in event promotions

16 This is Just the Beginning More with AI and Mobile Apps Parking Event Content Mobile Ticketing Digital Concierge Analyze Insights - Behaviors Mobile App Analytics

17 Q&A 17

18 Key Takeaways The pace of AI adoption is rapidly accelerating and the time is now to learn, plan and activate. AI driven insights produce new monetization opportunities for sponsorships, events, upselling, WiFi, and more. AI is essential for delivering on the promise of customer-driven insights, behaviors, and interests. John Short, IBM IBM Global BDE