There are a number of things that make local events valuable to your media company; the ability to create meaningful content around the event, revenue potential, and email addresses gained from ticket buyers. In this case study, we look at what events have sell-out power and how to target them.
Your goal is to target the events that give you the most value.
Look at two different events, each with 1,000 tickets. One sells all of their tickets in advance and the other has some advance sales but most tickets are purchased on the day of the event. The first event will earn you more ticket fee revenue, capture more email addresses, expose more ticket buyers to your ticketing brand and most likely, give you the ability to create more meaningful content.
What types of events sell out in advance?
After taking a look at the over 28,000 events that have sold tickets across our Network, events that sell out prior to their event date most often have ties to either theater, music, or alcohol and they are generally hosted indoors.
So how do you target events that have sell-out power?
The type of event only goes so far. Not every event that features music or alcohol will sell out, you need more. Start with you. As a media company, you have access to a whole team of local experts. Do you have a music writer on your team? Ask them for contacts to the local music venues in your area or better yet, an introduction. Have you taken your arts and entertainment editor out to lunch (or happy hour) lately? Go and pick their brain on what events are coming up over the next six months.
It is all about timing and targeting.
If you can target the right events at the right time and back it up with great content you will not only sell more tickets but will be set up to have successful events month after month, year after year, associated with and using your ticketing brand.