Turn It Off If …
We talked recently about how you should be willing to turn off programs that don’t work.
So let’s get more specific about ticket-selling programs and when you should turn them off. It’s actually quite simple.
If they’re not improving your Revenue Per Seat, turn them off. Not average ticket price sold. That’s a sucker’s metric. Revenue Per Seat.
Count all the dollars you bring in and divide it by all the seats you could potentially sell.
Let’s use a simple example. Say you did a one-night event in a 500-seat venue and to date, you’ve sold $20,000 worth of tickets. That means your Revenue Per Seat is $20,000/500 or $40. That means you’re making $40 per seat. (For more on Revenue Per Seat and how to calculate it, go here.)
So that’s the bottom line. If a ticket-selling program isn’t increasing Revenue Per Seat, cut it. If it’s increasing Revenue Per Seat, keep it or do more of it, if you can.
If you don’t know because you can’t be bothered to measure it (using only My Dear Aunt Sally), we love you, but we might not be able to help you.