The participation fee is the key source of revenue for events. Because of the large market expansion, it’s expected that total ticket sales revenue will increase by 8.6% in the U.S. over the next four years. So here’s a no-brainer: The more tickets you sell, the more money you earn. So how do you do this?
We all know how hard it can be to find the right venue for an event. The options seem endless, and more often than not, the never-ending list can be overwhelming. As possibly the hardest decision in event planning, choosing the right venue is one of the most important factors in making your event a hit. You could continue throwing money at your event, but if the venue is poorly chosen, the entire success of your event is at stake.
For many event organisers, the big question is, how do I know if my event was successful? From ticket sales to website performance, an event has many dimensions that demonstrate where the value lies. The effective measurement of this value is the first step to making your event cost effective and your clients happy.
A few years ago, the owners of a flash sale site, Doggyloot, discovered that there is a correlation between the type of dog and the purchasing behaviour of its owner. To test their theory, Doggyloot decided to start segmenting their existing clients based on the age and size of the dogs that they owned. They asked people to fill in a quick survey, asking them about their dogs’ birthdays and sizes. Based on these insights, Doggyloot built three email lists that began targeting their customers with different messages. What do you think happened? There was a 750% CTR increase.
