…and how a white label ticketing solution can help you achieve this.
I created my first draft of this post a couple of months ago and never published it. Here we are today. In the midst of the COVID-19 Pandemic. A crisis that has essentially brought the event industry to a bit of a standstill for hopefully, what is a brief moment in time. With this happening though – the message of owning your data, brand, and MONEY has never rung so important and true. All of which are achievable with the right white label ticketing solution.
Let me start with money. We can all agree that in time like RIGHT NOW, having cash on hand is vital to keep basic operations and payroll afloat for your event company. As you may or may not know, I work with TicketSocket which is a white label ticketing platform, supporting their clients with their marketing. Now, at TicketSocket, our clients process their own payments. TicketSocket is NEVER a middle man. This means, TicketSocket never accepts payment on your behalf, then pays you out later. We set you up with a merchant processor (such as Stripe, Digitz, or Square), and as a customer purchases a ticket, the payment is processed and deposited directly in your bank account. This gives our event organizers the advantage of healthy cash flow, branding within receipts or even just the name on bank statements, as well as full control over ticket fees, ticket transfers, refunds, and more.
Sadly, this past week, many big names in the ticketing service industry (I’d love to name, but I won’t – you know) announced that they will be holding all merchants payouts until 5-15 days AFTER an event is able to take place. With this kind of hold on cash flow – event organizers are struggling to make final deposits with venues, secure vendors and contractors, and just keep the core staff afloat. Some of the biggest names in the game had to put many employees on temporary leave or scaled back salary. The whole situation breaks my heart.
Owning your customer data, especially in the events industry is vital. The events industry can be competitive. Not just similar events competing against each other – but just time and entertainment in general. Think about it, if there is a Food Truck Palooza happening the same weekend nearby as your Beer Festival, most people can only go to one because of budget and time. By owning your customer data, you can take more control of your marketing. By taking more control of your marketing, you can make sure you close the deal. Sometimes websites that allow you to sell tickets among a sea of other events also selling tickets – someone can easily be distracted by other event options. Make sure you are clear on who owns your customer data and how other people may be “sharing” that data with you to remarket other events.
You work hard to sell every single ticket. The time and money that goes into making a sale should compound your brand equity – so when you come back again year after year, people know you. They know your brand. They know your reputation. You want to make sure that someone has a seamless brand experience with you – from the second they see your Facebook Ad (running under YOUR events Facebook Page), to your sales page, to your ticketing check out page – make the experience seamless. Don’t bounce them around to a checkout page that is not 100% white-labeled. Make your brand the hero – so it is in the domain name, the logos, the color scheme, etc. This type of consistency builds trust amongst consumers and supports higher conversion rates.
Be sure to utilize a white label ticketing platform to have full control over your business.