The online ticket market generates $4 billion in revenue globally, according to IBISWorld. You want your events to get as much of that income as possible, but your ticket sales are falling short of your goals. Event ticketing analytics solutions give you a powerful optimization tool to boost your attendee numbers. These applications look at data such as registration page visitors and user engagement. Some solutions integrate with third-party software, such as Google Analytics, to pull additional metrics. The reports can give you insight into your current promotional efforts, and help you discover the best performing strategies so that you can tweak your campaigns to maximize your ticket sales.
Google Analytics for Predicting Ticket Sales
Google Analytics tracks a broad range of data points, giving you a few methods to estimate ticket sales based on its information. For instance, get an overall average by looking at your registration page traffic versus the visitors who went through the checkout process, or calculate a conversion percentage rate based on these numbers.
You can also generate a detailed conversion ratio by separating your website traffic based on several characteristics. For example, use age group segments and gender to find the differences in ticket sales. In addition, you can see how many people completed a purchase after they started the checkout process, although this ratio may be harder to pin down precisely, as visitors often come back later to finish a purchase.
How to Use Event Ticketing Analytics to Improve Your Promotional Campaigns
You have your conversion rates for ticket sales — now what? Take a careful look at your analytics data and discover your top and bottom performing segments. You won’t convert every visitor who looks at your event, but you can figure out ways to reach people who should be buying more.
You can do this by comparing your ticket sales performance with similar events, if you have this information available. Identify visitor groups that should be snapping up your tickets but fail to hit the buy button. You can create promotional campaigns designed to target this audience and improve their performance. For example, if you know that you’re not getting enough sales from women aged 25 to 35, you can focus on the marketing channels that they frequent. Schedule blog posts, social media updates, emails and search engine ads to show up when they’re most likely to see them. If they favor mobile devices over desktop access, make sure your creatives look great on smartphones and tablets.
You should also customize your marketing messages to speak to each targeted demographic and check for improvements. Real-time ticket sale data allows you to respond quickly to campaign performance. If one channel does better than every other option you’re using, you can allocate additional funds to your top performer and adjust the rest. Your sale optimization strategy lets you get the most out of your promotional budget and improve your success. You learn a lot from the failures as well, which you can apply to future strategies.
You face a lot of hard work to put together a successful event, which is why you should use event ticketing analytics to reap the rewards from all that effort. You get significant insight into your audience, gain a useful tool for predicting ticket sales and open up the chance to make each event better than the last.
You face a lot of hard work to put together a successful event, which is why you should use event ticketing analytics to reap the rewards from all that effort. You get significant insight into your audience, gain a useful tool for predicting ticket sales and open up the chance to make each event better than the last.
