26 Jun The Devils Horns of Ticket Sales
Unless you’re selling out your event in the first few hours or days of going live (lucky you!), be prepared for the devil’s horns of ticket sales.
With our event charting we often see that ticket sales have an initial spike driven by launch marketing, social media prepping and database marketing. If the event date is not soon then sales usually enter a flat period, bumping along but not spiking again. Finally, in the days leading into the event date sales spike hard, creating 2 “horns” at the start and finish of the sales cycle bridged by a flatter gap in the middle.
The flat period often occurs despite strong site visitation, which we track through our page analytics and unconverted leads data. The challenge for event managers is how to sustain the initial spike, and move more of those last minute sales forward, thereby improving cashflow and boosting total ticket sales. Here’s a few ideas:
Create tiered pricing for your event that rewards people who purchase early with cheaper entry. Build your pricing tiers to offer good value early, and then plan your messaging to prompt people to take action before price rises.
Timing your marketing
After the event launch time your marketing to well spaced points between opening and event day. Create gift with purchase offers, or use bundled partner offers, that are available for a limited time and will drive sales spikes between opening and event day. E.g. “Free water bottle with every Adult ticket for the next 72 hours”
The earlier you get committed sales the more likely your event is to benefit from word of mouth marketing, and your overall sales base will lift as a result. The only thing better than minimising the “devils horns” is getting rid of them entirely by selling out your event early!