Maximising digital tickets sales for live stream events
By Joe Edwards, TicketCo Media Services Senior Key Account Manager
Pay-per-view and on-demand has become the go-to way for the events industry to keep performing, generate revenue and engage with the audience.
The arts and culture sector, along with several others, have been leading the market in producing fantastic events online. It has successfully adapted to producing engaging shows online and the audience demand is insatiable. Once you have prepared your production driving online ticket sales will be crucial to success. We have seen a significant positive shift in virtual ticket buying behaviour compared to traditional physical tickets.
In our latest insight we share how some of our clients have achieved great sales numbers for virtual events.
The Golden Hour
Traditionally people buying a ticket for a show at a theatre would need to plan and organise their day or evening out in advance. Additionally, for theatres who normally print and post physical tickets they must place a cut-off point on advanced ticket sales, which reduces their sales opportunity. But with online broadcasting people can buy the tickets on the day – and continue to do so right up to the start, or even during the event.
Some organisers have sold as much as 75% of their total on the day of the event, and especially in the last few hours before it starts.
Because ticketing and the broadcast of an event is integrated on the TicketCo Media Services platform it means we can keep events on sale until the end of the broadcast. Therefore, organisers can optimise the ‘Golden Hour’ when people purchase tickets at the last minute.
Mischief Comedy maximise last-minute sales
Mischief Comedy sold 15% of its overall ticket sales in the last hour and during the show for its New Year’s Eve live stream event with Kenny Wax. The event was an improvised show using feedback from a Zoom audience shaped the performance in real time. It trended twice on Twitter during the live stream, which lead to continued sales during the show. TicketCo ensures that you stay on sale whenever your customers want to purchase.
From a marketing perspective it is important to keep building engagement via newsletters, social media posts and adverts right up to the start of the show. The buying cycle is different for virtual events and momentum is required. It is important to have proper customer segments set up for retargeting, this works well on Facebook events where you can continue to communicate with potential customers who have not yet made up their mind whether to buy a ticket.
Wise Children quadrupled ticket sales via online broadcasting
Nearly 12,000 paying customers tuned into five live online performances of Romantics Anonymous.
Pre-pandemic Wise Children would have completed the five shows at the Bristol Old Vic and only sold physical tickets meaning a maximum opportunity of 2,700 ticket sales. Online broadcasting created sales opportunities nationally and internationally. Wise Children partnered with regional theatres to sell tickets on their behalf on a commission basis. It meant Wise Children could support UK theatres during the pandemic and they expanded their reach.
Deliver an easy customer digital journey
A simple and easy customer journey is key to maximising digital sales. People expect easy access and a smooth experience when buying tickets and then watching an event. Using one integrated platform delivers that.
Never has there been a better opportunity for artists to engage directly with their audiences in their own way, when they like and how they like. The technology is available to both broadcast events online and maximise sales. We are here to help, and we look forward to seeing artists take online broadcasting by storm this year..
Please contact us if you would like to discuss online broadcasting
Major event industry research reveals ticket buyers’ appetite to pay for online content
Are you planning a digital event? Download the 72 page report with lots of valuable findings here.
Digital shows delivered behind an online paywall perform stronger than free content. This is one of numerous insights discovered in a comprehensive survey that just has been released.
The report recommends pricing of digital products based on existing insights and knowledge acquisition from the international market, in relation to similar digital products, target groups, digital packages and content.