Ask Me Anything Question
How do you know when it’s the right time to use third-party sites (Groupon, Goldstar, etc.) to sell tickets?
Steven Roth’s Answer
Shake off the idea that vendor sites like Groupon and Goldstar are only for getting rid of expendable inventory. Instead, think of vendors like a tool, or even an investment for spreading your brand or attracting new patrons.
You’ll want to be careful not to place any inventory on deep discount that is likely to sell, and you’ll want to be careful not be predictable about the productions you make available. Beyond that, the right time is simply that point in your sales cycle when you have an idea what to expect from total demand. Use historical comparators to determine how much you inventory you have to play with.
And remember, any vendor arrangements should be on your terms. Offer the discounts that work for your organization.
Do you have a question for the team at JCA Arts Marketing? Submit it here. It could be featured in an upcoming Ask Me Anything post.
JCA Arts Marketing collaborates with cultural organizations to increase revenue, boost attendance and membership, and grow patron loyalty. We provide consulting and software services to hundreds of cultural institutions across multiple genres, including dance, museums, opera, performing arts centers, symphony, and theatre. We can help you achieve your marketing goals.