lava
Data activation technology LAVA today is announcing its formal launch, as well as partnerships with Staples Center, Microsoft Theater and L.A. Live. S.F.-based LAVA was founded by NBA Kings Owner & Chair Vivek Ranadive and former Tibco Software Senior VP Wen Miao. Ranadive will serve as Chair and Miao will serve as CEO. Founded in '16, LAVA has quietly assembled an arsenal of customers, including the NBA Kings, Lions, Broncos, LAFC and Pegula Sports & Entertainment.
ANALYZE THIS: With LAVA, event managers can monitor how a game or show is performing -- such as with merchandise sales and arrivals to the venue -- and make operational improvements, as well as design campaigns that reward and influence other behaviors, such as redeeming a concession coupon or extending fan experiences provided by sponsors. Marketers can activate campaigns within minutes. "Traditionally, most of the marketing has really been revolving around emails that are sent before and after events," Miao told THE DAILY. "Those turned out about 1% conversion, whereas with engagement in the moment using our real-time data activation technology, you can actually get 25-55% conversions, which is phenomenal. One of the earliest adopters of LAVA's technology, the Kings have served as an innovation laboratory. With the Kings' real-time fan engagement platform, team Chief Technology Officer Ryan Montoya said, "We now know what our fans like and dislike, and we can surprise and delight them with personalized experiences that create memorable moments they'll want to share with friends on social media. Ultimately, this heightened experience brings our fans back to the arena."
