By: Donald Vaccaro
IntroductIon •
Selling tickets to events used to be a huge investment of time and money, but with online ticket management, handling all of the critical ticket sales tasks required to make events successful became so much easier. Online ticket management instantly increased efficiencies, saved money, and boosted ticket sales for event managers, and the event industry hasn’t looked back since!
Benefits of Online Ticket Management Professional, Branded Ticket Sales Page Custom Pricing Ticket Discounts and Promotions Automation Security The Event Ticketing Industry The Current System is Broken
Professional, Branded Ticket •
A good online ticket management provider offers tools that make it easy for you to create a professional-looking ticket sales page where you can sell tickets online. It’s fully customized to your own branding, images, and text, so you don’t have to invest a large sum of money into web design.
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In addition to custom design and branding, an online ticket management solution allows you to fully customize your ticket pricing. You can offer early bird pricing or tiered pricing. In fact, you have the flexibility to leverage different pricing strategies as needed to increase ticket sales. You’re always in control of your ticket prices.
Ticket Discounts and Promotions •
Offering discounts or other promotions to boost ticket sales is usually easy when you use an online ticket management solution. You can create coupon codes and offer flat dollar amount discounts or percentage discounts.
• Online ticket management allows you to automate many time-consuming tasks that you’ve been doing manually. Processing cancellations, sending reminder messages, and more can be set up once and you’re done.
• Ensuring customers’ private information and credit card or bank account data is secure isn’t an easy task. A good online ticket management provider has security measures in place to give you and your ticket buyers peace-of-mind.
The Event Ticketing Industry •
The first is the primary market, where event organizers control the ticket price, revenue splits, and methods of ticket sale distribution. Here, organizers price tickets in a variety of ways including at a fixed value, in an open auction, or using dynamic pricing per seat based on demand . The pricing dynamics in the primary market heavily affect the volume and transactional value in the secondary market.
The Current System is Broken •
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In the existing industry, isolation of operations and misaligned incentives mean that primary and secondary market platforms benefit from some forms of fraudulent activity, gaining at the expense of fans and event organizers. In general, event organizers under-price tickets to maximize fan attendance, increase customer loyalty, and earn more revenue from in-event sales , and thus large economic potential exists for secondary markets to form as resellers can make a profit by pricing tickets at their real market value.
• Donald Vaccaro is the founder and Chairman of the Board of TicketNetwork®, Inc Who has more than 30 years of experience in the secondary ticket market, including 10 years in industry-related software development, pioneering the creation of the company’s signature software .