Marketing momentum: driving post-pandemic ticket sales

The music event scene was predicted to bounce back to its pre-pandemic growth by 2023 (Statista Marketing Insights). In Spain, concert ticket sales in 2023 even jumped by a whopping 48%, with European tourists making up 10% of all live show attendees in the country.

Now, with the market looking brighter for live events (hooray!), it's a bit disappointing that we still find ourselves scratching our heads over the lack of resources guiding us on when and how to sell tickets effectively.

As a live events marketer (and a perpetual learner, just like the rest of us), I've often found myself pondering these questions: how much should we truly be investing in pushing ticket sales? Will our marketing strategies make a difference in the ticket sales curve, or are we just throwing resources down the drain? If these thoughts have crossed your mind too, stick around for a bit. Let's dive deeper into this together.

The evolution of ticket sales has truly been remarkable. From the days of physical paper tickets sold at venues or through sales teams to the modern convenience of online sales, the journey has been nothing short of extraordinary. This transformation didn't happen overnight; it's been unfolding over the past two decades, accelerated by the speedy digitalization brought on by the pandemic.

The transition to online ticketing, fueled by advanced technology, has opened up a whole new world of purchasing possibilities. Now, with just a few taps on our smartphones, we can purchase tickets easily. It's like magic, except without the wand-waving and incantations. Social media has also played a pivotal role in this shift, serving as both a platform for raising awareness and a direct channel for purchasing tickets through primary or secondary ticketing platforms. We all recognize that selling online is crucial, but the burning question remains: when is the best time to push sales?

Navigating the ticket sales rollercoaster

If you're in the live events industry, chances are you're familiar with the ticket sales curve—a rollercoaster ride that can sometimes leave us feeling a bit dizzy. This curve maps out the lifecycle of ticket sales: 20% of tickets tend to be sold within two weeks of going on sale, 30% between the on-sale period and two weeks before the event, and the remaining 50% in the final two weeks (Patchboard, 2020). The challenge lies in figuring out if we're selling enough tickets in advance and whether additional investment in marketing efforts is justified.

A recent study by Financebuzz (2023) revealed an interesting trend: it often pays off for music fans to hold off on purchasing their concert tickets until the last minute. Those who buy on the day of the event tend to spend 33% less than average. This phenomenon can be partially attributed to the fact that up to 25% of tickets are acquired on the resale market in the week leading up to the event.

Strategizing marketing efforts for ticket sales

While there's no one-size-fits-all solution, it's evident that marketing and sales efforts typically concentrate heavily on the announcement and on-sale stages, as well as the final days leading up to the event. Typically, only about 20% of resources are allocated to maintaining sales throughout the curve (Eventbrite, 2019). So, the key here is not to panic during periods of low purchasing activity. Remember: panic at the disco, not in the office! Jokes aside, focus on creating engaging announcement and on-sale campaigns, and utilize strategies like scarcity and tiered pricing to boost ticket sales.

In the end, there's no magic formula; understanding your audience and the dynamics of your event is crucial for determining the best timing and intensity of marketing and sales efforts.

I'm curious, what strategies have worked best for you? Let's share insights!