As technology continues to evolve, the ability to drive real and accountable metrics for ticketing assets becomes more obtainable. This realization leads to a few important questions. Do companies know what they want out of their ticket data? Do they realize there are platforms that can provide these benefits?
Client entertainment is a key area where many companies tend to pay less attention. As a result, there is a significant amount of ticket waste every year, and, perhaps more alarming, little is done to track and report on these.
Ticket management is not rocket science, but without the proper tools in place, it can become a liability rather than an asset to an organization. The two most significant ways brands obtain ticketing assets are through sponsorship deals and secondary marketing purchases. How much value is placed on sponsorship ticketing assets? In many cases, perhaps surprising to some, not much, although such assets are priceless in many ways. In order to optimize their ticketing assets, brands must recognize that there are three key areas to focus on and put into action.
1. Using the Proper Tool – Spreadsheets and Ticket Management Mix Like Oil and Water
The most obvious key area involves choosing the proper tool to utilize. It is important to realize that using spreadsheets is an inadequate and tedious method of ticket management because you cannot collect all of the necessary data needed to truly build a case for ticket utilization. Companies continuing to use spreadsheets often experience a tremendous amount of waste as well as a lack of significant data. Although some brands do use a tool outside of spreadsheets, many still experience waste and inaccuracy due to inefficiencies surrounding the chosen tool’s features.
2. Consolidating All Ticketing Assets – The Importance of Tracking All Secondary Market Purchases
What happens when management wants to report on secondary purchases to evaluate who is purchasing tickets, what they are purchasing, and who is being entertained? The reality is that there are few tools who can help brands accomplish this task.Concierge Live is the only ticket management software tool where the entire user experience is contained within Concierge Live from finding tickets to placing a request to receiving email receipts and updates. There is never a ‘punch out’ to a third-party website to complete transactions. Furthermore, it is the same process as placing a request for company-owned tickets which helps to minimize the learning curve and reduce re-work.
In terms of data analysis, system administrators can report on who requested tickets (i.e. user, department), an event’s details (name, venue, date), who was entertained (i.e. client, prospect), and any attendees’ information. Similar to the uniform request process, reporting in Concierge Live is the same across on secondary and company tickets. Again, this promotes data integrity for budget planning and purchasing decisions while providing users with the flexibility to purchase secondary tickets when company-owned tickets are not available.
3. Eliminate Ticket Waste and Drive ROI
While this sounds easier said than done, the fact is that it can be accomplished with the right platform. Today, as much as 40-50% of ticketing assets go to waste every year. Although the Yankees-Red Sox game on a Saturday night may not experience waste, the story may be quite different for a Tuesday afternoon game when the Marlins play the Royals.
Concierge Live is the only ticket management solution that can help to significantly reduce ticket waste. Every unused ticket should be viewed as an asset with tremendous value. Concierge Live encourages you to leverage these assets by opening the opportunity to target specific audiences and capture demand. In doing so, you minimize waste while creating a unique customer loyalty or lead generation program. Our experiential marketing tool can add significant ROI by simply looking outside of the box. This opportunity exists because Concierge Live is the only system that stores tickets individually. Why does this matter? In the world of ticket management, individual ticket storage is a critical success factor. It drives flexibility and productivity while allowing brands to micromanage the configuration process to achieve total control over inventory management.
In summary, the first step a brand should take is to make sure it is utilizing ticket management technology rather than a spreadsheet. The truth is that automation in ticket management is here, and it is time for every organization to buy into the process. There is simply too much to lose in terms of time and money if ticket management technology is not a part of a brand’s background operations.
The second step involves carefully selecting a ticket management tool that offers the most relevant and effective features. If a platform does not individually restore tickets, then your ticket management will encounter issues. While a platform is better than a spreadsheet, there are still significant differences in how each tool on the market operates. Take a minute to ask your organization these two questions:
- Are we using a ticket management solution?
- If so, does our ticket management solution store tickets individually?
If the answer is no to one or both of these questions, then do your due diligence and contact Concierge Live to schedule a demo. Remember, there is absolutely no reason to waste ticketing assets. A partnership with Concierge Live centers around this issue and will help your organization reach new heights with your annual ticket management.