Periodic Reporting for period 1 - Close (Redefining the customer journey of live event visitors)
Reporting period: 2019-07-01 to 2019-12-31
Close has initiated a project to enhance event attendees event experiences pre-, during- and post events. Typically, customers buy tickets for live events weeks to months in advance. However, the customer journey is focused purely on selling tickets, and on organizing the event itself. Organizers do not grab the opportunity to engage with their customers in the period between ticketing purchase, the event itself and neither do they engage with customers after the event took place.
Close offers a proprietary toolkit to event organizers, the Close-platform, that consists of three major innovations, currently unavailable in the market specifically for event organizers: Self Service Platform, Close mobile application, Close Ticketing Module. The Close offerings enable event organisers to capitalise on newly generated cross- and upsell opportunities. Event attendees will be ensured that they will receive the full experience of an event: interaction with their idols/events/shows, additional information and exclusive content.
At this point Close has the intention to scale-up the project to start commercial international roll-out of the Close offerings. The objective of the project are to identify the 3-5 most promising European countries to launch the Close platform. Thereafter identify within each of the identified target countries, the 5-10 most promising clients and elaborate on a detailed business plan for European expansion.
Close offers a proprietary toolkit to event organizers, the Close-platform, that consists of three major innovations, currently unavailable in the market specifically for event organizers: Self Service Platform, Close mobile application, Close Ticketing Module. The Close offerings enable event organisers to capitalise on newly generated cross- and upsell opportunities. Event attendees will be ensured that they will receive the full experience of an event: interaction with their idols/events/shows, additional information and exclusive content.
At this point Close has the intention to scale-up the project to start commercial international roll-out of the Close offerings. The objective of the project are to identify the 3-5 most promising European countries to launch the Close platform. Thereafter identify within each of the identified target countries, the 5-10 most promising clients and elaborate on a detailed business plan for European expansion.
Within the project for which the SME Phase 1 has been awarded Close has performed a study of the live entertainment market through, desk top research and interviews. Through analysis of the market Close has come to the conclusion on how and in what market to enter the market with the Close offerings and the technical requirements of the offerings. Based on the conclusions Close has written a business plan including a financial model to assess the viability fo the project.
The conclusion of the project is that the market is open to a new-age solution to interact with event-customers pre-, during- and post events. Several big players have already displayed interest in the offerings which Close has to offer, they recognize the potential for up-/and cross selling. The performed study has resulted in the observation that even though the market is open to a new solution, event organisers will initially start with one show. When proven to be effective, the market is more willing to utilize the potential of the Close offerings for the entire range of shows they have to offer.