16. oktober 2024
At Venue Manager, we’ve helped more than 150 clients increase their revenue and profit, selling over 4 million tickets in a single year, in the process. With this experience, we’ve seen firsthand what works best when it comes to maximizing sales in the sports, events, and attractions industries.
Below, we’ll share five proven strategies that will help you boost your ticket sales and increase your profits.
One of the most effective ways to boost revenue is by offering customers the opportunity to purchase food, drinks, and merchandise alongside their ticket. By bundling these items at the point of sale, you enhance the overall experience for attendees while increasing your average transaction value.
Top-performing events and venues can double their revenue by offering these options, with the best in the industry achieving sales that add up to 100% of the ticket price.
For example, many venues offer meal deals, exclusive event-branded merchandise, or drinks vouchers as add-ons during the checkout process. This not only improves the convenience for the customer but also encourages them to spend more in advance, reducing the chances of opting out once at the venue.
Offering food, drinks, and merchandise during ticket purchase is a simple way to boost revenue. It enhances the customer’s experience while increasing the average transaction value.
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By bundling these items, you can double your revenue for each ticket sold.
Another powerful upsell is offering VIP upgrades. Fans and attendees are often willing to pay a premium for a more luxurious or exclusive experience.
A VIP package could include priority seating, early entry, or access to exclusive areas such as a pre-game event with food, a speaker presentation, or even a backstage tour of the venue, such as locker room visits.
This type of upgrade adds value without significantly increasing operational costs. In the most successful cases, top organizations can sell these VIP upgrades for up to 50% more than the original ticket price, providing an attractive revenue boost.
Offering these upgrades during the booking process or closer to the event can capture the interest of those looking to elevate their experience.
VIP packages allow you to sell an upgraded experience at a premium price. This is a win-win, as customers receive more value and you generate additional revenue.
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By offering a VIP upgrade, you can increase ticket revenue by 50% while giving customers a memorable experience.
Giving customers the opportunity to convert their single event ticket into a season pass or membership can be a highly effective strategy for building long-term relationships and securing future revenue.
During or after the event, you can offer attendees a discount or incentive to upgrade to a season ticket, ensuring their return for future events.
The best-performing venues and sports organizations are able to convert up to 15% of single ticket holders into season pass members, ensuring recurring revenue and building a loyal fan base.
This can be done via digital prompts during the event, through the app, or even with on-site representatives encouraging attendees to make the switch.
Converting single-event tickets into season passes or memberships is an excellent way to secure future revenue and build customer loyalty.
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By offering a clear upgrade path, you can convert up to 15% of ticket holders to loyal season pass members.
Offering attendees the chance to buy tickets for the next event, concert, or game—either on the day of their visit or while they are on their way home—can drive repeat visits.
Providing a discount or a special promotion for purchasing a second-day ticket or future event ticket encourages guests to return.
Top venues achieve sales of up to 10% through these second-day or next-event ticket promotions.
These offers are most effective when they are time-sensitive, creating a sense of urgency and encouraging customers to book their next experience right away.
Offering second-day or next-event tickets during or after the initial event can help you secure repeat visits and increase sales.
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By targeting attendees while they’re still excited, you can secure up to 10% more ticket sales for future events.
To create a seamless and more enjoyable experience, many venues now offer additional services such as hotel stays, parking, or transportation options at the time of ticket purchase.
These complementary offerings can significantly enhance convenience for attendees while providing a substantial boost to revenue.
The most successful venues can sell additional products and services amounting to up 10 times of the ticket price, doubling their revenue potential.
Bundling these services during the ticket purchase process, or offering them as post-purchase upsells, ensures that customers can easily make their visit stress-free while increasing overall spending.
Offering additional products like accommodation, parking, or transportation options can significantly increase the overall transaction value.
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By offering these services, you can double your revenue per ticket while providing more convenience to your guests.
By implementing these strategies, sports, events, and attraction venues can significantly boost their revenue while offering a more complete and enjoyable experience to attendees.
From upselling food and merchandise to converting tickets into season passes, each tactic presents an opportunity to add value and drive higher profits.
The key is to present these options in a way that feels seamless and convenient to the customer, enhancing their experience while maximizing your business’s potential.
Through these strategies—upselling, VIP upgrades, ticket-to-season pass conversions, next-event offers, and additional services—your venue or event can significantly increase both ticket sales and overall revenue.
At Venue Manager, we’ve helped over 150 clients achieve these results, selling more than 4 million tickets in a single year, in the process.
When implemented effectively, these strategies not only boost your bottom line but also enhance your customers' experience, making them more likely to return again and again.
By following these steps, you’ll quickly get started on maximizing revenue while enhancing the customer experience.