Consumer Data Strategies- Professional Sports
To understand the consumer data strategies for the PGA Tour, USGA, NASCAR, Indycar, Formula 1, NFL, NBA, MLB, and the NHL. Further, for those, ascertain how they measure the effectiveness of their data strategy, the data platforms they use, the volume of information they have on their fanbase, the different types of data types/sources they have on their fanbase, and how quickly they are analyzing and actioning this data in spreadsheet format for strategy evaluation.
- NASCAR created a new position, vice president of analytics and insights at NASCAR.
- "Having the new analytics and insights group allows us to be more data-driven and put the voice of the fan at the center of everything we do. We can now sell and talk about fans’ behaviors as much as their demos. We help NASCAR leadership, teams, tracks, sponsors and broadcast partners with our insights.
Prior to the formation of this group, NASCAR had several data functions—social media, digital, television, fan research and our sponsorship measurement practice—working in separate silos.
- NASCAR partnered with a third-party company and did some digital tracking with fans around the Daytona 500, and were able to see what they were doing on their devices 24 hours before, the day of the Daytona 500, and the day after it.
- They also partnered with a company that uses Artificial Intelligence to generate live polling results.
- Nascar works with partners like Vision Critical, Nielsen, comScore and Simmons to stay with the pace.
- According the Norris Scott, VP of analytics & insights, "One recent example is a study we did around Daytona 500, where we were able to show that fans who follow the Daytona 500 were 60 percent more likely to rate official partners more positively than those who did not follow the race. That's an extraordinary data point that our partners like to see, particularly because this can justify to partners that investing in and around NASCAR’s biggest event of the year is worth it. In addition to some of the data we saw, we also noticed great brand ratings from fans and a higher likelihood of purchase to those that watched the race."
- "When it comes to using insights to get authentic campaigns, we have two tools that we use daily and both are proprietary. One is the NASCAR Official Fan Council, our insight community on the Vision Critical platform. It’s a 25,000-strong fan community that enables us understand fan behaviors, likes and dislikes, and attitudes—insight that helps us improve our content strategy and sometimes the product on the track.
"The other tool is NASCAR's Fan and Media Engagement Center (FMEC), our social listening tool that measures social media conversation and tonality around NASCAR-related topics, events and promotions. We measure fan sentiment in real-time 24/7 for all of our national series race events, and we also use the platform to deliver custom-tailored insights to our entire ecosystem–teams, tracks, and NASCAR Official Partners. A sophisticated platform built in-house, the FMEC has allowed us to use the right data— 100 million data points and counting—to create content and campaigns that our fan base will find compelling and will want to engage with.
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