Posts Tagged ‘Pollstar Conference’

USING DISCOUNT CHANNELS

April 23, 2015

“Our job is to take the emotion out of discounting” is a line I use when talking with industry peeps about our consulting client, Goldstar. And emotion should never play into your decision to use discount channels to move tickets when making money, reaching an audience, and filling seats is the goal.

At the Pollstar Conference a few months back, a national promoter told me that “if I have to use Groupon or Goldstar, that means I didn’t do my job”. What? Do all of your shows sell-out or are they even projected to? If you are like the rest of us, the answer is no. In many of those cases, there is an audience that doesn’t even know your show is coming to town, so why not use all the tools at your disposal? Once the act hits the stage, every empty seat means $0 in revenue…and not just for that seat.

Shouldn’t we be counting the zeros when average ticket price tells us nothing? We should be measuring revenue per seat like the airlines do. For instance, if the Jim Lewi Band played a 15,000 seat arena and only sold 4-tickets (to my family of course) at $500, the average ticket price would be $500 even though a majority of the house is empty. But by counting your unsold tickets as $0, you find out how much each seat contributes to your bottom line. Based on the example above with a 15,000 cap, your average ticket price is $500, but your revenue per seat is only $0.0333. Revenue per seat tells us what we really need to know.

In music, many tell us of the perception that the show is a dud if you’re listing tickets through a discount channel. The truth, this “perception” is only in the eyes of the business, not the fan. It is an emotional response we give based on protecting the act’s brand and value in the market, but most fans aren’t doing research to find the best deal like they would with other products. Maybe someday there will be a “Kayak for live entertainment” where a consumer can search for the best deal, just not yet. Goldstar, Groupon, Living Social, etc., are all marketing avenues that need a new measurement scale. CPM (cost per thousand people reached) is generally how marketing is measured. It doesn’t apply here as there is an actual sale, so the more tickets sold, the higher your CPM goes. It should be going down.

The only way you will really know is to “test and measure” results. Don’t assume that you are hurting your show or act by discounting (unless it is to your own list) when chances are you are doing the opposite. There is a lot of data to back this up. When done properly, using a discount channel helps move the primary market. If you haven’t tried it yet, you should. Otherwise, you are just guessing…and probably wrong.

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WISDOM FROM SETH

July 26, 2012

In the last newsletter, I mentioned that marketing guru Seth Godin would be giving the Keynote at Pollstar’s conference early next year (Advertising Age named him Marketer of the Decade). Thought his post today was worth sharing with you.   

Feet on the street

The complement to the brilliant strategy is the thankless work of lower-leverage detail.

An organization with feet on the street and alert and regular attention to detail can build more trust and develop better relationships than one than hits and runs.

  • Contact every user who stops using your service and find out why.
  • Create a newsletter for every journalist who covers your space, and deliver it every three weeks, even when you’re not asking for anything. Just to keep them in the loop.
  • Eagerly pay attention to people who mention you online and engage with them in a way that they prefer to be engaged.
  • Sponsor industry events and actually show up.
  • Write a thank you note every single day, to someone who doesn’t expect one.
  • Build your permission asset by 1% every day. Every day, 1% more people are eager and happy to hear from you.
  • Write a blog every day, not to sell, but to teach.
  • Connect people in your industry, because you enjoy it.
  • Host community meetings in your store.
  • Put a lemonade stand in front of your business and let the local kids donate the money to whatever charity they like.
  • Hand out free samples every chance you have.
  • Keep in touch with people who used to work with you and continue to help them get great gigs and new business, even years later.
  • Put together an honest buyer’s guide, pointing out in which instances your competitor’s products are a better choice.
  • Run classes for your customers.
  • Run classes for your competitors.
  • Build a recruiting pipeline that is in place more than a year before you need to hire someone.

None of this is sufficient. Your product and your strategy have to be brilliant. But a lot of it is necessary. Hearts and minds…

Coachella Cruise News

So, you should also get a follow-up on the Coachella Cruise.  Word from Goldenvoice is that the on-sale was strong and it should sell-out.  Keep looking outside your comfort zone.  You are bound to find new ways to make money. 

Irving  Speaking At Billboard

Billboard has announced their Keynote speaker for this year’s Billboard Touring Conference as well and it is none other than Irving AzoffRay Waddell is also bringing in the trio who produce Coachella Skip Paige, Bill Fold and Paul Tollett to discuss, fans, bands and more.  The event will take place in New York November 7-8.  Find out more here http://www.billboardevents.com/touring

Happy Hunting!

COACHELLA AND POLLSTAR

July 18, 2012

Coachella Goes Sailing

Goldenvoice is taking their festival to sea with two cruises featuring 20-acts sailing from Ft. Lauderdalel.  They go on sale this Saturday so don’t miss out.  Should be a great time.  http://www.nytimes.com/2012/07/18/arts/music/coachella-festival-will-go-to-sea-on-cruise-ship-in-december.html

 

Pollstar Scores

The North American Concert Promoter’s Association has done it again.  In 2012 it was Moneyball.  For 2013 the group is sponsoring marketing guru Seth Godin for Pollstar’s annual conference. http://www.pollstarpro.com/live2013/subCheck.asp  Seth spoke at The Aspen Live Conference in 2004 and he was simply amazing.  You won’t want to miss this year’s event…or Aspen Live either for that matter.  Our dates are December 13-16 http://www.aspenlive.com.   

Hope to see you all soon!

DELIVERING HAPPINESS

September 5, 2010

Once you pick-up Delivering Happiness, A Path to Profits, Passion and Purpose by Zappos CEO Tony Hsieh you won’t be able to put it down.  At least I didn’t.  It makes you want to run out and apply for a job at Zappos (maybe they are ready to start a Live Events Department). 

Tony was the Keynote Speaker at last year’s Pollstar Conference.  If you’re kicking yourself for missing it like I was, here is a link from my friend Scott Perry to one of Tony’s presentations http://tinyurl.com/25xyjxr.  Friend and Fanscape co-founder Larry Weintraub is also a big fan of Tony’s.  He sent me a podcast so you can have the sound that goes with the presentation, but for some reason the link won’t work for me anymore…but maybe on your computer it will http://tinyurl.com/25xyjxr.  I’m sure there are tons of them on YouTube you can look-up if it doesn’t. 

If you haven’t studied the way Zappos does business, you should.  It isn’t just a business but a way of life.

Don’t forget to write…

Jim