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Alexandra Davis
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Grow arts and culture revenue

Success Story: The RMA at Phoenix Symphony


Every year at the Tessitura Learning Community Conference (TLCC), Todd Vigil, Chief Marketing Officer at Phoenix Symphony, vows to bring back at least one big idea or new strategy to implement. At the 2017 conference in Orlando, that strategy was the Revenue Management Application (RMA).

After seeing the RMA presentation at the conference, Todd realized how the RMA’s dynamic pricing features could be utilized at Phoenix Symphony. The team at the Phoenix Symphony had been using sales curves and monitoring velocity, but there was room for growth—in the team’s learning and also in revenue.

Using the RMA, the staff at the Phoenix Symphony gets an in-depth look at each price zone of the house, which helps them make quick, educated decisions regarding revenue opportunities. The RMA has also revealed to the team significant patterns in its sales:

  • They can now recognize the highest revenue-generating productions more easily and earlier in the sales cycle.
  • They have identified certain price points where patrons exhibit price resistance, which allows them to be more strategic and deliberate with their pricing.
  • The RMA also illuminated to the team the need to microzone on the main floor, so that they can raise prices on small groups of seats without raising all prices.


 

By adjusting the prices according to patron behavior and adding microzones to the main floor, the Phoenix Symphony began to see a substantial change in revenue. “We’ve really embraced the idea that when you decide to do dynamic pricing, do it early and be aggressive,” said Vigil.

We agree—we’ve seen clients make massive jumps in revenue by starting their dynamic pricing early and having the confidence to start high.

In the first year of using the RMA, the Phoenix Symphony made an additional $500,000+ from dynamic pricing. Over the course of 3 seasons, that number is now over $1.2 million. Says Vigil, "with financial results well above expectations, the RMA is some of the easiest marketing spend we can do!"

To find out how to include the RMA in your pricing strategy, contact us.