As companies pore over the “big data” of human behaviour to better determine what customers want and how they can deliver it, a company is setting out to discover and deliver “passion data” to better connect brands with consumers.
Tim Carroll, the former long-time chief marketing officer of cinema and amusement park company Village Roadshow, has established ElectricXP, a company setting out to brand the concept of the bucket list – the list of goals and experiences people want to achieve in their lives.
The concept was also popularised by the 2007 US movie The Bucket List that starred Jack Nicholson and Morgan Freeman, whose characters travel the world ticking off items on their bucket lists.
ElectricXP has created buckitdream, a platform that gives users the opportunity to create their own bucket lists which they can share with their social networks and connect with merchants to help achieve the dreams on their lists.
“We as consumers really do want to talk about our dreams and purpose in life,” Carroll told StartupSmart.
He describes this as “passion data”, information that can help brands become more attuned to customers’ desires and motivations.
“They’re all thinking about how they get closer to the consumer and leverage passion data,” he says.
Brands also want to know how to monetise their audiences, build loyalty in a customer base and leverage their attributes as a business.
“As a marketer you want an emotion-based relationship with an individual. You want to understand their profile, and behaviours I can zero in on … understand customers’ true passion, what they want to do.”
Buckitdream will be a business-to-business platform with businesses acquiring rights to the platform, Carroll says.
He says ElectricXP has raised just over $1 million in an early series A round, from 25 investors around the world, including an investment from a third generation media family in the US he didn’t name.
The company will raise another million dollars in the next two calendar quarters.
The buckitdream brand was launched at the Sundance Film Festival this year and will participate in the upcoming SXSW festival in the US.