GOLDSTAR

Another marketing tool you used to sell live entertainment in  many U.S. markets to help is Goldstar Events http://www.goldstar.com (full disclosure, they have been a LiveWorks client for the past 6-months http://liveworksevents.com).  Actually it was Nederlander‘s Jamie Loeb that introduced many of us to the service… although I started out from the consumer side.

We had just moved to LA and were looking for things to do with our girls.  My cousin Annie suggested becoming Goldstar members since their site contained family friendly events in the area. We did.

Jump 4-years to last December.  Jamie recommended a few of Goldstar’s management team (CEO, Jim McCarthy and VP, Wendi Lebow) participate in the Aspen Live Conference http://www.aspenlive.com.  Once we saw their grassroots growth and marketing strategy (no advertising to hurt primary ticket sales), sales numbers…and most importantly, what they can mean to your bottom line (the service only takes 2% of sale for credit card transactions with zero risk… and the rest goes to the show) we were sold.  You will be too.

Goldstar has created a calculator for you to use to gauge impact.  It’s a mock-settlement from the Nokia Theatre in LA.  Although the scaling may be a little off (I haven’t settled an event @ the venue yet), all the numbers can be changed to fit your show.  Please send me an email for a copy and I’ll forward the Excel doc. 

Goldstar has been investing in our business for over 9-years now…growing market-by-market.  There are other “daily deal” type businesses (Goldstar is actually a marketplace rather than deal site) you can lump them in with, yet Goldstar sells only live entertainment to an audience looking for things to do.  In fact, 86% of Goldstar members search a city and date rather than a specific event or venue…thus creating event discovery versus cannibalizing your primary market. 

Music has been slow in embracing Goldstar due to discounting.  When many see the success other live entertainment has had with the service (Sports, Theatre, Family, even Cinema) they usually point out that there are multiple performances, games, etc, where a concert is just that one night.  If we were selling-out every show, they would have a point.  Unfortunately we don’t and if your event isn’t projected to go clean, you should be doing something to get you there. 

We are all looking out for the long term health of our business (or at least many are).  If you are going to what you call your “loyal customers” with a “special offer” to help boost ticket sales, you are doing just the opposite.  This is your primary market…your Alpha Consumer.  You are just training them to wait for a deal. 

To open new sales channels, we need to look at how other businesses market and sell their products.  Automobile manufacturers for example have regular scheduled sales events that consumers can count on…but also use other discounting methods (like auto sales websites) to drive leads and sales. 

 There is a reason many of us have gravitated to Goldstar.  Please take a look at what you are missing.

Jim

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