JCA Arts Marketing AMA: The Perfect Price
Ask Me Anything Question
“We’ve been playing around with our pricing this past year. Ticket sales have been good but I can’t help but wonder if we’re really hitting the ‘sweet’ spot of pricing. How can we tell if what we’re charging is the right price for our audience?”
Brian Franko's Answer
“What is the right price for this?” is one of the most common questions JCA Arts Marketing gets asked. The answer is easy—there isn’t one.
In the performing arts, it’s difficult to find the perfect price because the value of the experience is perceived; it’s not real. A person can’t hold a symphonic performance in their hand like they can a cup of coffee. And that perceived value is different for every person on every occasion. A show with mediocre reviews on a regular weekday evening probably won’t have the same value appeal as a hit production for a special anniversary. That value is also different each time someone attends. For example, Hamilton may be worth $500 for someone’s first visit, but is it on the second or third visit?
Thus, the “perfect” price for one person may be a steal, or conversely, far too expensive for their neighbor. To capture that wide range of value perceptions, we recommend pricing for a full spectrum of price propositions. This ensure entry points for a variety of patrons to feel like they are exchanging money and time for art that’s worth it to them.
Do you have a question for the team at JCA Arts Marketing? Submit it here. It could be featured in an upcoming JCA AMA email!
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.
Brian Franko, Senior Consultant, helps JCA Arts Marketing clients use quantitative data and innovative technology to further their missions and achieve their financial goals. From Broadway’s commercial sector to nonprofit regional theatre, Brian has experience driving revenue for a wide range of performing arts groups.