A Vancouver company has teamed up with Square’s ecosystem of payments and hardware solutions to provide venues and festivals with a first-in-kind sales analytics integration.
“A big challenge of today is not the lack of data,” explains Darshan Kaler, “but the obstacles preventing us from using that data in real-time, easily, and with impact.”
Kaler is the CEO of Tradable Bits, a software company that provides fan-based marketing solutions for market leaders in the music, sports, and entertainment industries.
Inspired by the digital-first transformation across live entertainment and sports, Square and Tradable Bits aim to set a new standard for the fan experience. Their goal is to develop an easier way for live events organizers to track, centralize, and simplify the purchasing data from merchants and sponsors housed within an event.
“Our integration with Square will bring these data points together for large-scale events,” says Kaler. “It will allow promoters to bundle the best sponsorship opportunities, improve vendor’s visibility of real-time insights, move the needle on sales, and drive better experiences for everyone.”
These insights will allow event organizers—including venues, sports organizations, promoters and festivals—to personalize their merchant offerings, more effectively track their fans’ relationship with sponsors, and re-engage fans at a later date, according to a statement from the company.
The beta launch of “Incentivize with Square” sees a digital campaign that allows clients to influence track in-venue sales with a digital code. It creates a one-to-one connection between Tradable Bits’ customer data platform and Square customer profiles.
This provides vendors and event producers metrics about the fans taking part in any promotional event configured through the campaign, allowing them “measure impact and understand who is consuming their product.”
Next on the horizon is a real-time sales integration, which “will centralize the siloed merchant transactions often present at large-scale events,” according to Tradable Bits.
In 2021, the company partnered with Maple Leaf Sports & Entertainment and last year with the National Association for Stock Car Auto Racing. Overall, Tradable Bits has partnered with more than 100 clients worldwide, including teams in the NBA, NFL, and NHL, and entertainment brands like Live Nation Canada.