Increase Ticket Revenue with these 6 Marketing Strategies

 Posted on: April 10 2019
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For any event organizer, selling more tickets can prove to be a challenge sometimes. If you feel like you hit a plateau with your ticket sales, try one of these marketing strategies from Prior

1)    Convert Customer Loyalty Into Revenue

If you’re familiar with marketing, you may have heard of the 80/20 rule. This rule states that 80% of your business comes from 20% of your clients. These clients are your most loyal and powerful customers- they will engage with your brand online, write positive reviews, and endorse your events for their friends. Investing in a loyalty program for your best customers (discounts, early access to ticket sales) will keep your biggest clients happy, and give your brand a solid foundation of followers to grow from.

2)   The Early Bird Makes More Profit

An easy way to get a jump start on ticket sales is by selling tickets at a discount the moment your event is publicized. “Early bird” packages can create a sense of urgency and scarcity for your clients, and bring in some extra cash for marketing materials. These packages can also provide some insight into how well you’ve been marketing your event, and who your biggest advocates are. While this is a very useful tactic, it is important that you set your discounted price with discretion: if you sell more packages than you need, or sell them too low, you could miss out on substantial profit.

3)   The Power Of Referrals

We’ve already discussed the value that your loyal customers bring to the table, but even first-time customers have the capacity to be great marketing tools. While your regulars may be endorsing your event every day, your first-time customers may need an incentive to do so. Referral rewards are a simple way of incentivizing your clients to market your event.  Something as simple as “refer 1 friend and get 25% off your next order” will motivate your customer to act for their own benefit.

4)    Raise The Price, Raise The Profit

Raising prices can be controversial, but it can also have a huge pay off for you and the consumer. While doubling your prices may not be the wisest move, incremental price increases can significantly raise your income without offending your clients. The best payoff for a price increase is when you devote your profits solely to improving the customer experience. If your customers become more invested in the experience than financial sensibility, you will be one step closer to building a premium brand.

5)    Everyone loves the chance to win

Running a contest for your prospective clients can be a great way to increase ticket sales, raise brand awareness, and encourage engagement. Tailoring a contest around User Generated Content (UGC) like pictures, videos and reviews will help market your event organically. Contests can also provide you with crucial data about your consumers, and build up a contact list for further engagement.

6)   Double Your Most Valuable Assets Performance

Identify your best channel, and run with it. You shouldn’t invest the majority of your time and money into your twitter account if your Instagram page is the one receiving the most engagements. The more value you provide for your audience on their preferred platform, the better your results will be. Prioritizing your content based on channel will significantly increase your efficiency.

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