Here's a quick overview of how the Tradable Bits' 5-star fan rating algorithm works and how to leverage this data.
If you go to any fan profile in the Fan CRM, you will notice each fan has a unique star rating associated. These stars represent the individual fan rating that measures how active, engaged and profitable each fan in your database is.
You can find these ratings by searching for an individual fan and viewing their star rating or you can search by star rating level in the Fan CRM to find large segments of your most engaged, least engaged, and opportunity fans.
The star ranking algorithm is something we developed to measure the value of a fan today. It automatically distills your most engaged and profitable fans based on data points like, profile completion, participation, attendance and purchases.
Fans are distributed on a scale of 1-5 based on these data points. Over time as you run more engagements and integrate more data, you’ll see these numbers change and adapt. This data is also built on a decay model where fans who become inactive over a year will see their rating gradually decrease.
The value of an action is scaled based on seasonality. The system compares your action to the average fan activity for that specific month. For example, buying tickets during a slow period is more impactful and adds more to your score than buying them during a busy, high-demand period. This helps us recognize fans who are engaged year-round.
To keep things current, your Fan Score is designed to decline if you become inactive. Think of your score having a "freshness date." A high score pushes this date far into the future. As time passes and you get closer to this date, your score naturally decreases. After one full year of no activity, your score will be cut in half. When you interact with us again, your score immediately goes back up, and a new, later "freshness date" is set
Impact Factors
- Stay Active: The best way for fans to increase and maintain a high star rating is to engage with your brand frequently.
- It's Dynamic: The rating is a live reflection of your recent fandom, updated daily.
- It's Fair: The system rewards consistent and recent engagement (over old, infrequent interactions)
TLDR; We find your most active and profitable fans using dynamic data and rank them for easy segmentation.
1. To search by fan rating level, head to the Fan CRM>Search and navigate to the parameters menu on the right
2. Click General>Fan Metrics
3. Select the the star rating(s) you want to search
4. Click the search button at the bottom of your screen
Fan CRM Search view:
Fan Details view:
Pro Tip: Search for your lower rating fans in the CRM to identify that segments that need to be targeted for re-engagement.
If you have any further questions please reach out to your Customer Success Manager or contact support@tradablebits.com