22 Jan Theatres: Create your marketing plan to increase your revenues.
Create your marketing plan to increase your revenues
This article is translated from the English How to Create a Theatre Marketing Plan That Drives Up Revenue written by Hailey Colwell of the editorial staff SPEKTRIX on May 29, 2019.
About 40% of marketers say that proving that their strategies generate a return on investment is a major challenge, according to HubSpot. To ensure that marketers in the performing arts are successful when they are developing a marketing campaign for the cultural community or refine their existing strategies, it is essential that they know exactly how every euro spent can increase their organisation's commitment, attendance and revenue. This article takes a closer look at the key elements that make up a theatre marketing plan and how they can increase revenue.
Key performance indicators
Before developing a plan, it is important for marketers to determine how they will set goals and measure their success. These key performance indicators (KPIs) customer retention are examples of measures that can help cultural organizations understand the impact their strategies have on their organization:
- Customer loyalty: The number of new audiences that return within two years of their first visit.
- Sales on the web : The majority of patrons book tickets online. Tracking these purchases and associated behaviours is therefore an effective way to assess and set revenue targets.
- Advance ticket sales (early birds): Encouraging customers to book early can help theatres secure revenue, to maximize the available places and avoid last-minute discounts. It is also a direct way for marketers to measure the success of their campaigns.
Centralization of audience data
Knowing the audience is the key to building audience loyalty. Marketers can improve their audience analysis by bringing together all their data collection sources. By centralizing them in one place, it becomes possible to use this data in the following ways to make strategic decisions.
For example, this could mean cross-referencing customers' ticket purchasing habits with their demographics to develop twin audiences. But let's not stop there: experiment with other data linkages and see what conclusions they can lead to.
Telling stories about their organizations can help marketers stand out among all the messages their clients receive and build relationships with them.
To develop their content marketing strategiesMarketing specialists need to take stock of the content generated by their organization and how to develop it to engage their sponsors. Whether it's finding production photos that could take a more central place on the website, creating a video to get social networkers to book tickets, or launching a weekly column on the actors' blog, theatres have all kinds of stories to tell.
Create opportunities for secondary spending
One of the most neglected ways cultural organizations generate revenue is to maximize the means for existing audiences to spend more money. Adding online upsellers that allow engaged audiences to deepen their experience is a great way to maximizing revenue through secondary expenses before the day of the show. For example, think of the purchases of :
- Food and Beverages
- Package deals (meal offers, drink vouchers)
- Pre- and post-show events (discussions, workshops, celebrations)
- Ticket upgrades or exchange protection
With these strategies in hand, cultural marketers will have all the cards in hand to develop their marketing plan for 2021!
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