icket Sales Tip – Week #65
(The variables impacting Season Ticket holder retention)
Several sports teams have had 50 year season ticket waiting lists and 99-100% yearly retention achieved in large part due to members believing they can recover if not profit for seats they can’t use.
The ease to buy and sell on the verified secondary market has grown this market by 100x (30% of ticket land here) and is producing record ceilings and floor pricing which are both misleading and often not retention friendly.
The inflated price for limited single day seats often misguide CFO’s to believe they can increase membership renewal when it’s not warranted. Regarding the floor price, when the secondary single game is below the membership rate (for whatever reason), a retention action plan needs to activated.
Part 2 (release tomorrow) what teams are doing to offset this reality to retain and grow members. Hint: Reducing secondary inventory and using perceived “priceless” features excluded to the secondary is a big part of the solution.
Happy Thursday!