Data-Driven Decision Making in Product Development
At Fanthem, we are passionate about product development and how to use data effectively during this process. As we build our products internally, we use data to identify ways in which we can make our products more efficient and effective over the short and long term. By analyzing past events, we can find areas for improvement, tackle those areas, and end up with a more effective product. Additionally, we use data to make informed decisions to foster marketing and initiatives with clients.
We like to think of things differently than our competitors. Data is at our fingertips now more than ever. We use data to analyze anything from how well a specific feature is performing to how marketing efforts affect an event's overall success. Every organization has different marketing assets at its disposal; we can use data to determine the best promotion path for each client.
How do we analyze transaction data? We like to dig deep into the transactions and paint a picture of what is happening. From figuring out how to optimize ticket tiers and price levels to the impact of online vs. in-venue sales and how we can use one to feed the other.
We have found that the best customer is the repeat customer. The repeat customer will generally spend more money and buy more often than your typical customer. We have strategies to attain repeat customers to add value to the organization, not only for the next event, but also for future events. Your best customers are repeat customers, and our system uses this to your advantage.
8/3/2023, 4:31:42 PM