using live data to stay out of the woods [webinar]

Using Live Data to Stay Out of the Woods

KATIE NIX | DECEMBER 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 NIXBusiness Process

Manager at Vendini

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Who Am I?

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Benefits of Cloud-Based Solutions

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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-MORTEMSTWO: PRICING

THREE: PATRON LOYALTYFOUR: 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 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) Mobile Sales Apps show a

live snapshot of event sales and inventory and

Automatic e-mail notifications

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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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Dynamic Pricing – What is it?

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 performances13

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Prepare

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Analyze & Monitor

TWO3 Execute

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Your Dynamic Pricing Strategy

DYNAMICPRICING

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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

stakeholders15

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Step Two:Analyze and Monitor Choose a report

– E.g. Box Office Settlement Monitor sales of different

sections & prices Compare to targets

on a regular basis

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Step Three: Execute Variable pricing 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 premiumand 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 Engage 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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Use Online Sales and Scan Data

Determine staff and volunteer needs.

Mobile Patron Apps VIP SMS alerts

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RECAP

ONE: POST-MORTEMSTWO: PRICING

THREE: PATRON LOYALTYFOUR: OPERATIONS

THANKS!KATIE NIX

BUSINESS PROCES MANAGERCATHERINE.NIX@VENDINI.COM