I’ve had my mind on some ways that the business of tickets will need to change to recover from the pandemic because it is highly unlikely that things will go back to the same old, same old when the pandemic is over.
Here are a dozen things I’m looking at right now to codify a more comprehensive way of approaching the future of tickets.
- People are going to need to get more comfortable with having a Market Orientation: This means bringing the voice of the customer into the business and not just going on gut instinct, assumptions, or trying to guess.
- Pricing is going to need to be revisited: Cool story, my work on discounts is all over the world. Discounts are dumb. But in general, we are going to need to look at being smarter with the way that pricing is done.
- Distribution will need to be done more thoughtfully: Direct or indirect, but also do you want your tickets to show up in all places or no. These things are going to need to be considered.
- The sales process and sales funnel will need to be updated: Technology, value, sales cadences, and all of that fun still will need to be rethought. Just spamming phones that people aren’t answering isn’t likely to be a long-term formula for success.
- Rethink brand building: Brand is everything, good or bad, that a person encounters when they see or touch your brand. This means that a lot more intention needs to be put into the brand and the brand equity.
- Less Big Data and more smart research: I’m a fan of Backwards Market Research and I’m not an enemy of Big Data, but what I’ve found is that we are drowning in data and that we have to become wiser about the way we use data and research.
- Rethinking communications: Due to bad training and just bad actors in the marketing world, the role of marketing has taken a dive. In some research I did at the end of the year, 80% of CEOs don’t trust their marketing departments. The reasons why are long and we will discuss them later, but the big key here is that marketing is more than communications and communications is only successful if done using a solid strategy which the same research project showed me that around 40-45% of folks don’t have.
- The value ladder is your friend: The live event experience is unique in it is emotional and once in a lifetime. So use the value ladder to get as high up the scale to emotional as possible.
- Think about every touchpoint: Touchpoints are important. Every touchpoint adds or subtracts to the value of your brand, your connection with your customers, and can build your business…act like that.
- Pay attention to positioning: You have to position against the 3 Cs: customer, competition, and company. You can’t position in a vacuum and folks aren’t just going to buy tickets to your event because it’s a good idea.
- Sales Funnels for everyone: Every product should have a sales funnel and every business likely needs many. This is going to be an important idea to learn and keep in mind going forward.
- Strategy! Strategy! Strategy!: Where will you compete? How will you win? You are going to have to answer those questions and the answers may be different than they were before! That’s okay!
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