The Who, Where & When of Event Tickets…
GetinHere has recently reviewed research around ticketing for events. Here are the findings:
The impact of ticket prices on when people buy event tickets
Ticket prices have a big effect on when people will register for your events.
In our research, a whopping 56% of people paying £1-£10 per ticket booked on the day of the event or on the door, while a further 8% booked the day before. People like to leave their options open and make spontaneous plans and this is how GetinHere is able to engage them at the right time, place and mindset.
This is in stark contract to events costing £51 or more, where over 50% of people booked their place at least 3 months in advance (rising to 70% when a ticket costs over £201).
This means if you’re running a paid event with more expensive , you shouldn’t expect more than 20% of your total revenue to come in on the day of the event, including at the door. Therefore by the day of your event, you should be at least 80% to revenue target. If not, this is when you need an application like GetinHere to boost that number and fill those empty seats with nearby real time promotions.
Is age a factor in when people buy tickets?
In general, the younger your target audience, the more they will leave booking tickets until the last minute.
25–34 year olds not only most likely to register on the day, but they were also least likely to register 3 months in advance.
Geography and ticket purchase lead times
Londoners are 23% more likely to buy tickets on the day of the event than the rest of the UK.
However those in London and the South East were 23% more likely to book tickets on the day of the event or the day before compared to those living elsewhere in the UK.
Does being a parent effect purchase behaviour?
One of the biggest surprises of the research came when looking at the different ticket buying behaviours according to whether a person has children or not.
The key takeaway: If your event is targeted at parents or those likely to have children, then you probably want to get them registered earlier rather than later, with the exception they are more like to make very last-minute decisions and purchase tickets on the door.
Relationship status and ticket sales
The key takeaway: If you’re targeting couples or those in a relationship you’ll want to get them earlier; while singles will be more likely to register closer to the time.
Know your audience; create a marketing timeline that reflects their purchasing behaviour; and find ways to incentive earlier bookings.
Do these things and the data suggests you’ll find yourself the proud organiser of a very successful, sold-out event.