There is one really simple strategy you can use to drive the “right” amount of advance sale tickets. Why the “right” amount of advance sale tickets? Because many event organizers are hesitant to offer ticket discounts. They worry that they’re going to lose too much money. “What if everyone buys the tickets at 50% off?” There is a very easy way to mitigate the possibility of giving up too much and still drive advance ticket sales.
If you’re offering discounted tickets to your event, especially deeply discounted tickets, limiting the amount of tickets sold can be used to your advantage. I refer to the process as discount ticket blocking. By ticket blocking you only offer a certain amount of tickets at a discounted price. Just by limiting the number of discounted tickets you give additional incentive for people to buy early. It’s important to find the right combination of blocking and price to drive ticket prices. Each event is going to have a unique combination. Doing a little intuitive math should give you a decent idea of how much and how many tickets to discount.
Offer Huge Ticket Discounts
Did you ever think of offering a 50% discount on your event ticket price? A few months ago I meet Kevin Walsh from Wingman Events. Kevin provides consulting services for the air show industry. He came up with a great ticket and blocking schedule that helped sell a significant portion of tickets of advance sale tickets to an air show. Did he give up profit margin? Absolutely! He discounted some event tickets by over 50%. But would you give up significant margin if you could pay for your entire event before a single person walked in the gate? Remember there are only a certain amount of people who will buy early.
Ticket blocking is a simple way to make sure you don’t lose when discounting ticket prices and still drive advance sale tickets. Make sure you give it some consideration for your next event.
Want to get more great info? Check out the articles below:
- Online Ticket Sales
- Leveraging Advance Event Sale Tickets
- Getting Them to Buy Tickets Early
- Turn Your Event Into an Experience
- Leveraging Your Sponsor's Digital Resources
- The Event Promotion System - Get Free Event Promotion & Marketing Video Training