Tweets Vs. Tickets, and Other Insights From Broadway’s Social Media
Recently, Forbes contributor Lee Seymour shared “10 Insights From Broadway’s Twitter Stats,” which compared tweets and ticket sales. His highlights and analysis — including the biggest takeaway that the two were not correlated, and that tweets do not, in fact, generate sales — attracted so much interest, Seymour posted a follow-up article, “Why Broadway Is The New Wild West – 7 More Insights From Its Social Media.”
We’ve highlighted two of Seymour’s seven insights below, which the author explains came into focus after speaking with Jim Glaub, VP of Content and Community at Broadway ad agency Serino/Coyne, who wrote a great response to Seymour’s first piece. Check out the two below, and then read more here.
1) Tweets about purchasing lead to more purchasing. According to a survey by Goldstar, social media users (millennials in particular) are significantly more likely to buy a ticket to an event if a friend buys one first. In fact, 92% want to learn more about the event, and of those, 66% buy a ticket. This lines up with previous coverage on millennial spending which is driven by a ”pics or it didn’t happen” mindset, encouraging experience-sharing over tangible objects. So Twitter absolutely does sell tickets — it just depends on how vocal the buyers are. But all of this throws into light the big point…
2) Twitter isn’t designed to be a sales platform in the first place. Twitter is first and foremost a communication tool. It allows artists and brands to interact directly with their fans, and fans to share stories and reviews with each other. But because its data is trackable, it’s held to the same standards of measurement as direct-response marketing, like email blasts or mail campaigns. This should not be the case. Producers need to judge social media by the same standards as traditional advertising, not traceable sales. Damian Bazadona, CEO of digital agency Situation Interactive, summed it up: ”Nobody sees a taxi ad for The Lion King and says, ‘Driver, take me to Broadway!’ The ad is an entry point that generates interest, conversation, and hopefully a sale. Just because you can’t trace the sale’s path doesn’t mean your ads aren’t selling.”