using live data to stay out of the woods
TRANSCRIPT
USING LIVE DATA TO STAY OUT OF THE WOODS
KATIE NIX | AUGUST 2016
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5+ years box office and front of house experience
Founding board member of small opera company
Opera singer & stage director KATIE NIX Business Process
Manager at Vendini
WHO AM I?
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The benefits of cloud-based ticketing
Sales data and patron history is automatically stored on the cloud, so your information is
kept up-to-date
ALWAYS LIVE
Mobile apps let you sell tickets, access your patron database, and
see sales stats on-the-go.
AVAILABLE ANYWHERE
Whether you have a few volunteers or a big board of directors, keep everyone on
the same page with live sales stats & reports
SCALABLE
SESSION TOPICS
ONE: POST-MORTEMS
TWO: PRICING
THREE: PATRON LOYALTY
FOUR: OPERATIONS
CHAPTER ONE | POST-MORTEMS
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Problem 1:It’s too late to save the patient! – Insights can’t be implemented until next
event or next season
Time is wasted on ineffective strategies
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How can live data help? Understand your marketing results – Survey results: “How did you hear about us?” – Email Marketing reports – which campaigns
are most successfully resulting in sales? – Conversion tracking – A/B Testing
Use this data to understand what’s working – Turn those insights
into actions
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Your stakeholders are out of the loop – Executives or Board of Directors don’t have
a clear real-time picture of operations, revenue, fundraising
Problem 2:
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Keep your execs in the loop(AND OUT OF YOUR HAIR)
Vendini Sales Spotlight shows a live snapshot of event sales
View stats in the app or email to stakeholders without a Vendini login
CHAPTER TWO | PRICING
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Seats sell out too quickly
Leaves money on the table
Undervalues your events Doesn’t cover cost – requires a budget heavily reliant on donations
Might impact image and programming of organization
Can’t fill seats
Only attract the most affluent audience
Hard for an entire family to attend
May impact likelihood of donations
The problem with pricing…Overpriced Underpriced
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The perfect price mix!
Balance maximum ticket sales with maximum revenue
Attract a diverse audience
Allows for agility
Includes promos
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Mix of price points – By seating area – By performance date or day of the week
Prices or availability may change based on demand – Increase prices for high-demand show – Limit discount options for high-demand
performances
Dynamic Pricing – What is it?
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Prepare
ONE2
Analyze & Monitor
TWO3 Execute
THREE
Your Dynamic Pricing Strategy
DYNAMIC PRICING
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STEP ONE: PrepareVenue configuration – Subdivide your seating sections
Marketing – Don’t back yourself into a corner – Advertise a price range, rather than a
fixed ticket price
Targets – Set based on previous events – Get buy-in from key stakeholders
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STEP TWO: Analyze and Monitor
Choose a report – Vendini: Box Office Settlement
Monitor sales of different sections & prices
Compare to targets on a regular basis
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STEP THREE: Execute
Pricing Matrices
Adjust on-the-fly if you can
Don’t forget to keep marketing
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Fill Seats + Maximize Revenue
Kid Rock concert tour – Base price $20 – 1,000 tickets “scalped” online
for price set using dynamic pricing
– Balanced audience of fans willing to pay a premium and those looking for an affordable night out
CHAPTER THREE | PATRON LOYALTY
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The Problem: First-time patrons aren’t returning
Patrons are stuck in a rut – Example: Nutcracker fans buy
tickets every year, but never come to any other performances
Regular ticket buyersaren’t becoming donorsor subscribers
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Use data to engageVendini: Patron Reports
Filter based on purchase history, donation history, etc.
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… are first-time buyers
… bought at least 2 events but aren’t subscribers
… gave small donations in past
… came a few times last year but haven’t bought tickets yet this year
… purchased as a large group in the past
… other examples?
Find your patrons who…
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Insights into action!
Targeted marketing
Special discounts
Deeper engagement
CHAPTER FOUR | OPERATIONS
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The problem: Long lines
Special Guests and VIPs lost in the crowd
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Turn scan data into engagement
Patron Connect
VIP SMS alerts
Know exactly when your VIPs arrive
RECAP
ONE: POST-MORTEMS
TWO: PRICING
THREE: PATRON LOYALTY
FOUR: OPERATIONS
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ARE WE OUT OF THE WOODS YET?
-Taylor Swift
