Anyone who’s ever owned a venue knows that along with ownership comes a degree of pride. We love our theatres, our clubs, our barn-turned-dance-halls. Whatever your venue may be, we understand that you truly believe there isn’t a bad seat in the house. And ticketing price optimization is the last thing on your mind. We get it.
But the fact of the matter is, this kind of thinking is costing you money.
Because, sure… there might be a bad seat in your theater. But more importantly, there are certain seats that are better than others, if only because some people will always pay more for those particular seats. You know who we’re talking about — “Uncle Jerry will only sit in an aisle seat. He’s just kinda weird like that, don’t worry about it.”
No matter the size of your venue, there will always be a “better” seat
For those of us with an “Uncle Jerry” in our lives, this seems obvious. Some people will happily pay more for their favorite spot, whether that means sitting on the aisle, in the balcony, or right up front. I’ve seen venues with seats where drinks and food can be delivered to patrons (similar to sitting on the bottom level of an NFL or NBA game) and groups of seats that have their own dedicated bar.
If you find yourself saying “but my patrons can’t afford those kinds of tickets,” trust us, they can — or at least some of your patrons can. And more importantly, they will.
Someone in your audience is always willing to pay for that “better” seat
It’s true that every venue has different demographics. But no matter what the make up of your audience, there will always be folks willing to pay more. Make sure that you have a ticketing price structure in place for them! You’ll be glad you did.
Experimenting with different ticket prices can increase your revenue (aka ticketing price optimization)
Ideally, you want to appeal to different budgets and tastes. Some folks want the all-out VIP experience, while some want discounted “cheap seats.” Experiment with different ticketing price options to find what works best for your venue.
Later this month, Vendini’s own Erin Searfus will be leading a webinar on ticketing price optimization. In her former position as a general manager, Erin led the charge on price optimization and knows the benefits first-hand.
In the webinar with Erin, you’ll learn:
- What ticketing price optimization is and why it’s important
- How Erin used price optimization to boost nightly revenue by 225%
- Tactics for implementing price optimization in your own venue
Join us for this 30-minute webinar on Wednesday, April 13th at 11am PST / 2pm EST to learn the secret to getting butts in seats and making more money.