BET bets on Niche Targets

Not too long ago ethnic targets were considered akin to a niche market.  My how things have changed!

Conscious Sisters segment for BET

"Conscious Sisters" is a segment of BET female viewers that focus on family and home

Target segmentation overall looks more like niche segmentation.  In a long tail perspective this is the future of identifying relevant market focus.  Niche markets used to imply the identification of an almost impossibly small portion of the market.  Now the word niche helps to identify a set of attributes that makes any grouping relevant.  Niche means that the elements binding that target together are relevant to each member of the target market.

BET CEO Debra Lee recently spoke about the intense consumer research BET does to connect with their target at a recent Nielsen Consumer 360 gathering.    As you can see, these targets don’t look like the traditional broad strokes of a mass media focus.  But you can easily see how each member of these Niche markets would be able to pick out and relate to their groups.

  1. STRIVERS – An ambitious group of opinion leaders aged 20-40. These young leaders are rising in their communities and the corporate world.
  2. CONSCIOUS SISTERS – These are women who are keen on aspects of their culture and spirituality. They focus on family and cooking meals at home.
  3. TECHFLUENTIALS – World ambassadors aged 20-30 who are making the world a little smaller using technology, organizing fundraisers online, using skype, social media and more.
  4. BRIGHT HORIZONS – This tech-savvy segment is focused on education and friends, gaming, mobile and social media.

BET reinforces the importance of niche.  It’s not about large age or gender groups.  It’s not about income or ethnicity.  It’s not even about values and behaviors.  It’s about all of these combined and it look like a long tail niche target strategy to deliver a relevant message to a receptive consumer.

Live Entertainment Ticket Sales Struggle

The economic recovery towards the end of 2010 did not apply to ticket sales. Year over year data from Live Analytics, a Ticketmaster company, shows the industry dropping 6.5% over 2009.

Ticket sales dropped in 2010However, there is some good news for the consumers; lower concert and family ticket pricing!

Entertainment is the sixth highest category of expenditure for the American consumer according to the latest Bureau of Labor stats.  It ranks right behind healthcare and in front of apparel and services and even education categories!  Every live entertainment executive in the US fights for their share of the $2,698 in yearly overall  entertainment spend and in 2010 it looks like certain categories survived by driving down prices.

Two categories of live entertainment consumers; Concert goers and Family event attendees benefited from dropping prices in 2010 according to LveAnalytic’s 2010 Live Entertainment Year in Review.  Concert ticket prices were down 5% from 2009 and family event tickets dropped 1%.  Which price drop worked best in increasing ticket sales?  Family events came out the winner with the average ticket sales increasing 2%.  Despite the drop in ticket pricing, concerts yearly ticket sales were down 8%

Concert business pundits point to the long tail  of music as a likely function of the concert attendance drop.  Fewer and fewer acts have football stadium mass appeal.  More growth in varied fare presented in smaller venues and/or festivals.   Conversely the increase in family numbers underscores more similarity in the family event experience and less long tail influence.

The 2011 summer season is getting underway and live entertainment will be watching the entertainment spend to see if, and where recovery happens.  Methinks the long tail will be evident somewhere in that equation.

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