As the summer concert season begins, marketers have an opportunity to connect with consumers in a unique way. In the warm weather, more consumers spend time outside, especially at events that feature their favorite entertainers. These consumers notice when marketers are sponsoring events and entertainers and reward them with their business.
A new study from Nielsen, the U.S. Entertainment Consumer Report, analyzes how consumers are spending their time and money on entertainment. Nielsen has divided music consumers into several entertainment types:
- Aficionados: These music lovers are extremely engaged with the industry. At least 34% of music expenditures originate with this group. And, 23% pay attention to who is sponsoring events and concerts and will buy related products and services. This is a small consumer group, though, totaling only 14% of the music crowd.
- Digital: As the name suggests, these consumers love their playlists. They’re also likely to attend concerts and 30% of this group will buy products and services from marketers that sponsor events. These consumers contribute 27% to total music spending but they are only 13% of the music universe.
- Big box: This group controls 14% of music spending and amounts to 13% of the music fan base. While their total spending on music is about average, their interest in music is huge and 28% say they will buy products and services of marketers who sponsor their favorite artists.
Nielsen research also shows that the intention to support a sponsoring marketer is closely associated with youth. At least 31% of teens will buy products and services from these marketers. On the other hand, only 13% of consumers between the ages of 45 and 54 will make make a purchase solely on the basis of event sponsorship.
However, when the 3 groups of key music lovers are added together, at least 75% of spending on music is accounted for. Marketers who are looking for an edge, especially with younger consumers, should explore sponsoring an event this summer. Have you ever sponsored a music event or artist? Did you realize a good return on your investment?[Source: The U.S. Consumer Entertainment Report. Nielsen.com. April 2013. Web. 20 May 2013]