Square and Tradeable Bits Partner to Deliver Event Sales Data Insights

Square and Tradable Bits have partnered to help event organizers use sales data.

With the capabilities provided by this partnership, venues, sports organizations, promoters and festivals can use the purchasing data from the merchants and sponsors at their events to personalize their offerings, track fans’ relationships with sponsors and re-engage with fans after the event, the companies said in a Monday (March 6) press release.

“A big challenge of today is not the lack of data, but the obstacles preventing us from using that data in real time, easily and with impact,” Tradeable Bits Co-founder and CEO Darshan Kaler said in the release. “Our integration with Square will bring these data points together for large-scale events.”

The new partnership brings together Tradable Bits’ fan-based technology and Square’s ecosystem of software, payments and hardware solutions, according to the release.

One product that has been beta-launched is “Incentivize with Square,” which uses a digital discount code to help clients measure the impact of their promotional campaigns and learn more about the fans who take advantage of the offers, the release said.

The two companies also plan to develop real-time sales integrations between their platforms, per the release.

“[The new partnership] will allow promoters to bundle the best sponsorship opportunities, improve vendors’ visibility of real-time insights, move the needle on sales and drive better experiences for everyone,” Kaler said in the release.

Live events are incorporating a growing number of digital technologies to improve the experience for organizers, merchants and fans alike.

For example, many venues are using digital payment technologies to speed up the concessions purchasing process, reducing the amount of time consumers spend away from their seats.

In addition, mobile carriers are using 5G-connected technologies to create innovative experiences for fans during events — such as getting unique camera angles and immersive views of the live action, generating content to post on social media and getting a view of events that would otherwise be out of reach.

In a third example, non-fungible tokens (NFTs) have been deployed to change how people buy tickets for live events — giving holders access to prime seating and other perks.