10 Mar Boost your ticket sales with early bird fares.
Boost your ticket sales with early bird fares.
This article on early bird tickets is translated from English: https: //www.attendstar.com/early-bird-pricing-event-ticket-sales/.
Arenametrix offers event organizers the opportunity to optimize their attendance and enhance the experience of their audiences. To achieve this, many marketing strategies are possible. One of them is to vary prices according to the buying behaviour of the spectators. Read more at .... The practice of tariffs "early bird"(prices that vary depending on the time of purchase) is not new. Airlines have been doing it for a very long time. In the event business, Scotland's "T in the Park" pop music festival was the first to offer discounted tickets. Nowadays, offering a discount to people who buy tickets in advance is commonplace. Why is this? Because it has been proven that the "T in the Park" fare is a "low price".early bird"increases overall sales for a very simple reason: psychology.
5 RISKS IF YOU DO NOT OFFER "EARLY BIRD Tickets" PREFERENTIAL RATES
Before analysing consumer psychology and price perception, let's be aware of the impact of early bird ticket sales on increasing your cash flow. Gary Bradshaw, President of AttendStar, explains that early bird sales can account for up to 80% of your sales! Let's count €20 per ticket, for 20,000 people. That's €320,000 in cash that you can collect before the event. Think about how you could use this money!
To clarify, Gary describes the top five reasons why people take risks by offering the same price for buying tickets in advance and buying tickets on the day.
1 - Non-targeted marketing investments
Reduced prices for tickets purchased in advance lead to a rapid increase in ticket sales. Yes, you give up some of your ticketing revenue later, but you get so much more out of early ticket sales (as long as the discount is reasonable).
The main asset of sales "early bird"” ? Allow you to better evaluate your advertising and marketing efforts! If you don't practice this method, you run the risk of spending too much or too little, both of which can make your event a failure. Google's new tool for live events is designed to change ticketing and reduce these risks.
2 - Cancellations
What happens if the artists of the event cancel at the last minute? Without early ticket sales, the event would probably not take place! Let's say an artist gets sick or an unfortunate event forces a whole team to cancel a performance (which sometimes happens), if you haven't sold tickets in advance, your event will be a total failure.
3 - A low participation rate
Many last-minute excuses can justify a low turnout. Very often, bad weather is one of them. If bad weather is expected the day before or on the day of the event, a drop in attendance is certainly to be expected as well. All the more so if the event takes place outside. Sometimes ticket sales stop completely. Selling tickets in advance is therefore the remedy for these uncertainties.
4 - No communication with participants
When you sell tickets in advance, you can easily obtain information about your participants (contact details, email, phone number, etc). This gives you the opportunity to communicate with your audiences before, during and after the event. You can easily warn participants of possible bad weather affecting the start time, or of any last-minute changes. This targeted and personalized communication allows you to build a strong and long-lasting relationship with your participants. More inclined to speak positively about you and your event, you launch a positive word-of-mouth marketing that can't be bought!
5 - Less effective sponsorship
The sale of tickets "early bird"The more you can give to sponsors, the more they are committed to sponsoring your event. Let's face it. The more you can give to sponsors, the more they will invest in sponsoring your event.
If you sell tickets in advance and collect the contact details of the participants, you can then send weekly emails about the event mentioning systematically your sponsors (they will then be seen several times by the participants).
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Read more on our data & entertainment blog:
It's time for you to get to know your audiences and communicate better in order to boost your event's attendance!
Festivals: Achieve a record conversion rate through relevant segmentation. The Marsac festival looks back on its experience with Arenametrix.
Five reasons why you should offer a different price for buying early bird tickets and buying tickets on the day.