Your upcoming concert or show isn’t selling well, so you start to think of other strategies to get people to buy tickets, and someone suggests “we should do a ticket deal.” While it’s easy to think that a discount will bring those last-minute sales, it will actually do more harm than good.
Long-term Win vs. Long-term Loss
A last-minute ticket discount will bring in some sales, but that is only a short-term benefit, the goal should be creating repeat buyers. In research from Impact Experiences, the likelihood of re-visitation actually decreases with the higher the discount being offered. A ticket deal, especially one with a high discount amount, says to the public that you devalue your organization and the art you are presenting. When you think about pricing psychology – people value what they pay for – the higher the amount the higher the value.
Audience Behavior
Also, last-minute ticket deals create a behavior in your audience to wait and buy tickets. They won’t be enticed to get tickets when a production goes on sale, they will just wait and see if a discount comes along. This creates cycle of constant discounting, because instead of creating engagers who relate to your mission, you are getting followers that only want to get a deal. In the end this will hurt your bottom line, as you need sustaining patrons who have a meaningful relationship with your organization.
A Smarter Strategy
So, what can you do when ticket sales are lagging behind where you want them. As we’ve mentioned before, ticket deals are good as long as you have a strategy to them. But, when it’s last minute you should think more about a promotion than a deal – and yes a promotion is something different. A promotion is an offer to a very specific audience, that has limits, and is intended to celebrate your mission and patrons. Regularly looking at your data and creating audience segments, like long-time patrons or those that donate and buy tickets, will help you create promotional messaging to these groups that can be used when ticket sales need a boost. These strong engaging patrons will feel appreciated, and you know they appreciate your organization and your art, creating a mutually beneficial relationship.
If you need assistance in creating strategies to increase your ticket sales or a more engaging audience, Confluence Arts Solutions is here to help. Contact us to schedule an appointment or a consultation.