Early this week I had the chance to chat with Patrick Ryan from Eventellect about all kinds of stuff around the business of tickets, partnerships, the evolution of his business, and a lot more.
Here are 5 key takeaways from my conversation:
The business story of Eventellect is one of change and continuing to search for new ways to give value to their partners:
One of the key concepts I preach to every business, no matter the industry, is that your business has to evolve and the value you deliver to your partners and customers has to evolve as well or you become outdated or, worse, a commodity.
Patrick shared how Eventellect started and a lot of detail about the journey that they have taken over the years and how the growth we’ve seems sudden at first, but actually is a reflection of continuing to refine and change the value proposition of the business.
Pricing and sales strategy is a complicated issue:
I’m anti-discount and I’ll go down on that boat because I’ve been studying that and looking at that for most of my career as a marketer.
That warning out of the way, Patrick brings up the point that as a broker or a consolidator, you don’t have the right to set someone’s discount or sales strategy for them.
He mentions that if a team wants to make a Flash Sale, a Pass, or some other discount that they have billions invested in their brand to make that decision.
The challenge comes in trying to balance these offerings and the value to season ticket holders.
We had a pretty in-depth conversation about this challenge and how teams can walk the pricing tight rope a little more effectively.
There is no such thing as a perfect price:
This part of the discussion was really interesting because we talk about the 5 factors that go into a pricing decision and how technology can solve for 3 of the 5, but the 2 that involve people are the most problematic.
In discussing price in this way, it was really interesting to see a clear line drawn between what can be solved using tech and what still needs expertise and humanity to solve.
And, I didn’t get to ask the question that I usually do about using data to test your hypothesis, but I would have been interested to hear Patrick’s answer.
B2B prospecting came up again:
It was interesting how Tony Knopp brought up the need to be more creative in prospecting on the podcast I did with him.
Then I have Patrick bring up the same topic and the need to be more creative the next episode makes it seem like I have an agenda.
I want people to be smarter in their prospecting efforts.
In talking with Patrick, he shares a really relevant story about the need to adjust your prospecting methods to meet your market, to reflect your product, and to take advantage of inefficiencies in the prospecting area.
He also had an interesting take on the role of sales teams in sports.
Being a trusted advisor and building relationships is still the key:
One of the great things about doing this podcast is that I have had the chance to meet and talk with even more great ticket professionals around the world.
I’ve been bullish on relationships as long as I have been around.
I’ve gone as far as to be even more aggressive in making sure I’m constantly talking with people more than ever this year.
Patrick shared a number of examples of how he uses his relationships to offer advice, learn more that he can share across the industry, and continue to position himself as a thought leader and someone that is knowledgeable about the business and can be a value-added asset.
One point that I want to make that he made and that I have made over and over again is that if you are creating value for your partners, the idea that you are going to get thrown out of the building or out of a meeting is a bit absurd.
If you are having struggles in maintaining and building relationships or sustaining them, ask yourself what kind of value you are really bringing to your partners.
What did you think of the conversation? Let me know in the comments.
I’m doing a webinar on June 24th, 2019 at 11AM Eastern Time called “10 Ways To Sell More Tickets In The Second Half of 2019“! It is free and you’ll learn strategies and tactics to help you market, sell, and make more profit in the second half of 2019.