The Digital Life

10 WAYS TO INCREASE YOUR EVENT REVENUE!

Planning an event is expensive, and roughly one-third of event planners say that increasing revenue is their biggest challenge. We’ve seen and heard of many creative methods in 2021, but here are just 10 ways you can improve sales and revenue for your next event!

Sell Tickets Online

Shocking, right?! Saffire always recommends you make sure your event tickets are as accessible as possible to attendees! The main goal of ticketing is to get folks through the gates, but it’s also about improving your bottom line. Most Saffire clients see a remarkable increase after strategically selling more through their online channel. Clay County Fair first partnered with SaffireTix in 2019, and after increasing their budget to get more fans on their site, they saw a staggering 118% increase in online ticket sales.

Don’t Stop Selling Tickets Online Once Your Event Starts

Just because the physical gates are open doesn’t mean online sales should stop. After selling 13,000 tickets before their event, Red River Valley Fair kept their tickets online during their fair and sold an additional 11,000 tickets!

Host a Flash Sale

Northwest Washington Fair hosted a flash sale for their tickets last year and hit their revenue goal out of the park! By capitalizing on demand, NWWF was able to secure an enormous percentage of their revenue with over a month left to go before the fair.

Offer a VIP Experience

If you build it, they will come. And the same is true for VIP experiences! Offer exclusive tiers where you can charge more per ticket for attendees to have a more impactful experience at your event. This could be everything from a special fenced area for seating, to semi-private port-apotties to special access to an artist!

Implement a Cashless System

Are you hand counting tickets until the wee hours of the morning? Buckets of tokens? Did you know utilizing a closed-loop cashless system can actually increase on-site guest spending by 15-30% when compared to events using traditional forms of payment? Additionally, you will save money by not needing staff or security to count and handle cash at the event.

Utilize RFID

Like going cashless, RFID systems have had a higher adoption rate since COVID. In addition to cutting out cash, RFID technology can also provide opportunities for brands to engage with attendees and track live data of attendees.

Leverage Your Sponsorships

A good relationship with sponsors is beneficial for all parties involved. Work with your sponsors to see what they are able to offer, and how to best utilize their brand into your event. One way to do this is by selling sponsorship packages. Selling a headline spot with additional promotional items or additional brand exposure can actually help to make certain parts of your event paid for.

Make & Sell Some Merch

People want to represent the places they’re from and where they’ve gone. Work with your graphic designer (or a local artist!) to produce hats, shirts, hoodies and any other kind of collectible merchandise. Merch can be sold on-site or even on your Saffire website!

Spend Advertising Dollars Wisely

Are most of your marketing dollars going to print or radio ads? Team, it’s 2021. There are far better and way more measurable ways to get a return on your investment! Digital platforms are one of the best ways to reach your audience. Trust us, our social and digital marketing strategies have been crushing sales goals all year, and YOU could be next!

Strategically Use Your Email List

If you’ve collected attendees’ contact information, make sure you’re marketing to them! Send out emails reminding everyone of ticketing flash sales, a countdown to the event, and more. You could also send out an email following the event to gather attendee feedback to improve your next event!

Have you implemented a creative strategy to increase your event’s revenue streams? Connect with us and let us know!

Saffire empowers hundreds of clients with beautiful, unique and engaging websites, and integrated SaffireTix ticketing, including online, advance and box office sales, all with amazing real-time reporting. Saffire’s Spark content management system puts live editing power in clients’ hands by making content and tickets easy to update with unlimited help when needed. Social media, email and text marketing are also included to fuel client success. To learn more about SaffireTix, visit www.saffire.com.

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