The Most Important Revenue Driver for Your Venue – Ancillary Sales

 

Unlike ticket sales, which are fixed. Ancillary income can include multiple revenue streams and is only limited by your operations team’s imagination. In addition, ancillary income can help you keep the doors open and make money in less-than-ideal concert situations.

 

Using Balance to Facilitate Stakeholder Management

 

Your business needs stakeholders to survive. From customers to employees, vendors, and even the community you operate within all have a stake in your operations. Jeremy discusses how to achieve balance between these competing groups.  You can read more about Jeremy’s views on stakeholder management by clicking here.

 

Incremental Changes in Marketing Your Venue

Even in today’s fast-paced world, slow and steady still wins the race when it comes to retaining, attracting, and motivating your entertainment customers to buy. Jeremy discusses how incremental changes reduce sales friction and increase accountability in operational changes.

 

Demographics Aren’t a Catch-All

 

Too many entertainment managers misuse the phrase demographics as an excuse to sound marketing-savvy when they don’t understand entertainment strategy. Jeremy discusses how to properly use this marketing term for your venue.

 

Take the Picture for Better Fan Engagement

 

It is a misconception that a concert is all about the artist on stage. While they are a key component to the success of the venue, they are not as important as the customer. The customer is the person who buys the ticket… the food… the drinks… the merchandise…the VIP packages… and whom the sponsors want to get in front of. Without them, the venue wouldn’t exist and the artist would be out of a gig.

 

Fortunately, appeasing your customers can be rather simple. Give them a great concert experience and they will stay longer, spend more, and hopefully return to see you again. One of the ways to enhance their experience is to make it about them. You can do this a number of ways. Treat them right and with kindness at every step of the way. Surprise them with upgrades and constantly thank them for their business.

 

Another way both venues and entertainers can make the experience about the customer is by taking a picture.

 

During your next performance, announce to the crowd that you want to get a group picture with everyone. Then, grab a selfie with the crowd behind you. The goal is to get as many of your fans in the frame as possible. After that, announce that you will upload the shot to your Instagram feed and encourage them to check it out and tag their concert-going buddies and friends who missed the show.

 

This simple action will enact a number of psychological triggers on your audience. They will feel a sense of belonging, community, and pride. The posts will likely start social engagement with people who also attended the show, further solidifying their pack bond. All positive stimuli that will likely lead to positive actions such as return trips to your next performance. However, the psychological triggers don’t stop there.

 

When your fans share this image on their social feeds psychological triggers such as Fear of Missing Out (FOMO) kick in for their friends who didn’t attend the show.  If anyone watched the FYRE Festival documentaries, this negative trigger contributed to the social-success of that epic festival failure. Those who missed out are given an unintended edited view of what the show was really like. They do not see the long lines to use the restroom. The parking fiasco. That $20 beer. Rather, they see pictures of their friends having a great time followed by likes and comments that reinforce those stimuli.

 

This strategy works for venue ownership as well. Encouraging fans to share their concert pictures by tagging your brand or through a unique hashtag so your marketing team can re-post offers a huge return with little spend. Not only do these pictures give your brand a positive stimuli response and induce FOMO behavior, but they also act like customer reviews providing a decision reinforcement vehicle for people looking to purchase a ticket to your next show.

 

If you run a concert venue, your fans are your biggest asset. Without them, nothing would be possible. Part of your core strategy should be to find economical ways to WOW them at every turn. While the concept of simply taking a picture seems like a no-brainer, many do not take advantage of this opportunity to connect. I hope this post provides social and psychological evidence as to why you should snap a selfie with the crowd.