Using Live Data to Stay Out of the Woods

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

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Analyze & Monitor

TWO3 Execute

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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

THANKS!KATIE NIX

BUSINESS PROCES MANAGER [email protected]