Events have a lot of moving parts. There are a multitude of items that need your attention in order to create a fluid and memorable event. Selling tickets (and establishing your ticket sales goal) is probably an area that requires the majority of your attention (unless your event always sells out in minutes).
Have you created a plan to increase your ticket sale frequency and revenue? Don’t worry if you haven’t, we’ve got you covered. Follow along to double your ticket sales and increase your revenue.
1) Double Your Marketing Money or Double The Attention Placed On Converting Campaigns.
What marketing efforts drove The Most Ticket Sales In The Past?
Don’t play a guessing game. Get into your Google Analytics Account or your Picatic Account and pull up the top three ticket sales channels.
Typically, you will find that Social Media campaigns, email campaigns and channel partners are the most effective promotions for your events. However, that may not be true for all events and all organizers.
Once you’ve identified your top performing promotional channel, it’s time to think outside the box. You need to get creative and find out how to use that channel to its fullest potential?
The solution may be as simple as using it more often. If social media posting is your most successful ticket driver, and you post about the event once a week, will increasing your posts to twice a week
If social media biweekly posting isn’t working because users find it more spammy than helpful, focus on quality rather than quantity. Take your most successful post and start A/B testing images, calls to action and content.
Keep the consistency the same, but increase the quality of image, content and calls to action.
2) Increase Ticket Prices
It’s a reality that prices go up every year – on everything – not just ticket prices. While it sucks – inflation is part of life. People who want to and can afford to, will continue to support the event. For those that cannot…
Depending on the event and the experience you are providing many people will probably find value in the price increase. You can test pricing on tiered tickets. Start with a basic packages and work your way towards a VIP experience – complete with after party.
3) Tier Those Tickets
If past tickets were at $115 – try to increase those by 30, 40 or even 50%. With the new VIP experience feel free to attempt to increase ticket prices 100% (or more) if your market can bare it.
If you can offer a VIP experience, early access, free swag, free drinks, meet and greets, reserved seating – anything to sweeten the pot, add it, but add it as a cost. You may be surprised by how many buyers opt for the more expensive ticket. And how many buyers
On the flip side – you can also offer tickets to a live streaming to the event. Those tickets can start at half the price of last years tickets – or can simply be $10.
Offering a live streaming to the event creates one more ticket option you can monetize on.
4) Look For A New Target Market Audience
Another way to double those ticket sales is to find a new way of appealing to a look-a-like audience or a similar persona of users.
For example – if your core audience is Alumni events at Universities you can typically attempt to incorporate student unions, student clubs and other university events. As students near graduation and will soon be alumni they will begin transitioning into the professional capacity. Incorporating them into your events is a great way to sell more tickets and broaden your audience reach.
This is typically easy to do this without alienating your core audience as you are staying within your niche target audience.
5) Look For & Incorporate A New Marketing Channel
Most event promoters and markets use the top 3 – 4 marketing platforms for promotion (Facebook, Twitter, Instagram, Google). Try to choose a few new marketing channels and see how they perform. Some new areas you can test out are Snapchat, search engine optimization, cross promotion with one of your sponsors and email campaigns. Then, use your data to choose the platform with the best ROI and put more money and effort behind it.
If you are currently promoting your event on 3 channels – think of the exposure you will capture by adding 4 new channels.
Incentivize your existing user base by offering them a discount, a VIP package, or even a free ticket every time they refer and or “bring a friend” to the event.
You may need to run a few tests to figure out what reward(s) makes sense for your price point and your audience. Calculate it: if each attendee brought just one more person to your event, you could very quickly double and even triple your ticket sales.
Double your ticket sales today
We know not all suggestions will work for every event. It may also be hard to implement all five tips above all at once. However, trying to implement one or two of the above suggestions may increase your ticket revenue.