Daktronics & @Dropitxyz Debut Their Reverse Auction Partnership
Daktronics (NASDAQ-DAKT) and DROPIT, a fan engagement technology company, debuted their partnership which brings fans, sponsors, teams and venues together in an engaging and meaningful way, during two Cactus League Spring Training games this past March.
In collaboration with Peoria Sports Complex in Phoenix, DROPIT ran eight 60-second reverse auctions – where prices go down instead of up and the first bidder wins – on Daktronics displays for a variety of prizes, including a 2017 Mitsubishi Outlander Sport and a 2017 Ducati Panigale 959.
Nick Long, Peoria Sports Complex sales and sponsorship coordinator said “We worked with the DROPIT team, integrated with Daktronics displays, to enhance our fan experience with some in-game auctions and it’s been a great activation for our sponsors,” said The new technology we installed in 2017 provides us the chance to do some new things technology-wise and executing the in-game DROPIT auctions is a great start.”
The integration of DROPIT’s patented technology to engage fans with mobile devices for 60-second reverse auctions with Daktronics LED video technology is, we are told, introducing a revolutionary new way to help teams and venues create in-stadium return on sponsorship while increasing fan engagement. Although it does, the auction is not intended to generate immediate revenue for the brand. The value comes in increased revenue generated post-game day as a result of valuable purchase intent data gathered throughout the process.
Josh Howardson at Daktronics told us “Our venues and teams are hungry for interactive content, and DROPIT offers an ideal opportunity to better engage with fans, given the quick breaks in action during games,” said The DROPIT platform can be easily integrated across the hundreds of professional and collegiate global venues we operate within, and we’re excited to partner with DROPIT to bring a game-changing experience to fans.”
Brendan Howell, COO of DROPIT said “Fan engagement is an overused term in the sporting industry; everybody is talking about it, but nobody can clearly define what it means. DROPIT combines technology with psychology to create a truly immersive fan experience that we measure with data. We gather data that teams, venues and sponsors currently have no access to, all while creating adrenaline-pumping brand loyalty from fans. For teams, attracting and retaining sponsors is a competitive business. As sponsors become savvier and rely on technology to measure returns, teams must deliver real, measurable value. DROPIT provides teams with an edge over the competition in this space.”
Teams can offer sponsors a new marketing avenue by providing products for these activations in return for a wealth of data and potential new customers. The return on sponsorship begins in-stadium but continues post-event as brands can send targeted offers to auction participants based on their location and preferences.
DROPIT INC. is a technology company focused on changing the way consumers engage with brands. Founded by brothers Peter and Brendan Howell in New Zealand in 2015 and headquartered in Miami with offices in New York and San Francisco, the company specializes in fan engagement and live event entertainment. Designed to turn shopping into a game experience, DROPIT has used their patented gamification technology to create a mobile platform that enables brands to deeply engage their customers in unique ways.
DROPIT is supported on iOS, Android, and online via the web.
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