Companies marketing themselves in connection with Taylor Swift91裸聊视频檚 future swing through Toronto might feel an afterglow that outlives the pop star91裸聊视频檚 handful of shows in the country 91裸聊视频� but such brands also face several risks in tying themselves to the hotly anticipated tour.
That91裸聊视频檚 the message marketing experts had as tickets to Swift91裸聊视频檚 six nights in Toronto next November 91裸聊视频� backed by Rogers Communications Inc. and Royal Bank of Canada 91裸聊视频� went on sale Wednesday.
Telecommunications giant Rogers has been marketing itself as the presenter of Swift91裸聊视频檚 Toronto stops at the Rogers Centre stadium, while RBC is listed as an official partner and will offer an exclusive allocation of tickets to its Avion members next week.
Days before announcing its ticket allocation, RBC opened up the Avion program to Canadians regardless of what company they bank with or hold credits cards with.
91裸聊视频淲hether someone would switch bank or card allegiance due to access to a Taylor Swift concert is debatable, but (it) is 91裸聊视频榚yes on the prize91裸聊视频� and certainly there will be a lot of eyes on this event as we get to November 2024,91裸聊视频� said Richard Powers, national academic director of the Rotman School of Management at the University of Toronto, in an email.
The Eras tour, which kicked off in the U.S. in March and will span at least two years, has become one of the most lucrative shows in history.
Online research company QuestionPro said in June, ahead of Swift91裸聊视频檚 Toronto announcement, that fans had spent an average US$1,300 per show. About 70 per cent of the 596 people it surveyed said the money was worth it because the experience was so rewarding, while 91 per cent said they91裸聊视频檇 go again.
Despite ticket-holders paying more than they budgeted, QuestionPro said the Eras Tour achieved a Net Promoter Score 91裸聊视频� a metric measuring how likely someone is to recommend a brand or product to a friend 91裸聊视频� of 68, putting it on par with retailer Costco and tied with tech goliath Apple and the Ritz-Carlton Hotel chain.
QuestionPro estimated that if the current spending pace continues through the end of the tour, Swift will have generated an estimated US$5 billion in economic impact.
91裸聊视频淭hese numbers are pretty incredible,91裸聊视频� said Dan Fleetwood, QuestionPro91裸聊视频檚 president of research and insights, in a press release.
91裸聊视频淚f Taylor Swift were an economy, she91裸聊视频檇 be bigger than 50 countries; if she was a corporation, her Net Promoter Score would make her the fourth most admired brand, and her loyalty numbers mimic those of subjects to a royal crown.91裸聊视频�
Such findings likely contributed to a cost-benefit analysis Powers suspects companies completed before getting on board with the tour and devising Swift marketing plans.
While RBC has long offered customers an exclusive inventory of tickets to Live Nation Canada shows, the Avion tie-in is more unique.
91裸聊视频淚t goes after a different demographic,91裸聊视频� said Powers, meaning parents purchasing tickets for their kids.
91裸聊视频淭he Avion card targets a higher income demographic that they compete for every day with the other big banks.91裸聊视频�
RBC has already seen 91裸聊视频渋ncredible momentum and interest91裸聊视频� from Avion members since the Swift promotion began, 91裸聊视频渟ignificantly91裸聊视频� accelerating plans to 91裸聊视频渃reate inimitable brand attachment,91裸聊视频� said Fiona Anderson, the bank91裸聊视频檚 senior manager of brand communications.
91裸聊视频淭his is also a once in a decade opportunity to distinguish our brand and the Avion Rewards program in the ultra-crowded loyalty space,91裸聊视频� she wrote in an email.
For Rogers, the connection may be as much about driving customers as it as it about goodwill. The company is still working to repair its public perception after a daylong outage last summer that garnered international headlines.
Rogers did not immediately respond to a request for comment.
However, Powers said, 91裸聊视频淐oming off their recent connection problems, this is a feel-good story for them.91裸聊视频�
91裸聊视频淐onsidering the target market 91裸聊视频� younger fans looking for better priced mobile packages 91裸聊视频� expect to see other parts to this sponsorship, specifically targeted to that demographic,91裸聊视频� he added.
But Joanne McNeish said that younger demographic will make it harder to capitalize.
91裸聊视频淎 common mistake that brands make today is that if you put your name in front of young consumers who can91裸聊视频檛 currently purchase your product or service they will remember you and purchase at another point in time,91裸聊视频� said the associate professor of marketing at Toronto Metropolitan University in an email.
A bad experience could also backfire on the brands.
Fans who have a hard time getting tickets, as has become customary for the tour, could also mean customers sour on brands, said Powers.
Her show slowed Ticketmaster91裸聊视频檚 systems significantly in November, leading to U.S. Senate hearings and politicians promising to take action.
While Swift91裸聊视频檚 shows have soldiered on, the ticketing process now relies heavily on verified pre-sales where fans sign up in advance for a chance to buy ducats. However, demand often outweighs supply, leaving many unhappy on the waitlist or turning to scalpers.
91裸聊视频淭his opportunity comes with risks,91裸聊视频� Powers said.
91裸聊视频淓ven Taylor Swift can get sick, cancel dates. The big sponsors also bear some of the risk of an unforeseen issue causing a cancellation or postponement of concert dates.91裸聊视频�
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