Understand your patrons' programmatic preferences and their willingness to pay
JCA Arts Marketing, together with our partners at Baker Richards in the UK, have partnered to provide a cost-effective analysis for organizations looking to re-engage their audience and optimize revenue in the era of COVID-19. This survey-based analysis will help you answer critical questions, including:
- How willing and able are your patrons/visitors to attend in-person or digital experiences?
- Which repertoire/exhibitions will encourage patrons/visitors to attend? Which artists do they prefer?
- What start time and length of experience do patrons/visitors they prefer?
- To what extent is pricing holding your audience back?
- Where do you have the ability to increase prices without undermining demand?
- For which segments should you consider strategic discounting?
The Patron Preference Analysis is suitable for both performing arts and visitor attraction organizations. It can answer these questions and more, providing specific insight into the real intentions of your audiences or visitors.
The Need for a Patron Preference Analysis
Due to COVID-19, organizations are introducing a variety of new types of programming—from digital experiences to socially distanced performances and intermission-less shows. But without historical data, the audience and revenue potential of such programming is unknown. The Patron Preference Analysis gives you a predictive model of your audience interest in and willingness to pay for new programming, broken down by segments.
Additionally, as organizations re-open and hopefully return to traditional programming formats, some customers will be less willing to return to venues and attractions for a variety of reasons. Some will have become acutely price sensitive due to changes in their circumstances, while others may be willing to pay more for something they have come to value even more by its absence. Levels of price sensitivity will vary widely—up and down—by venue, activity, artform, and audience segment.
The Patron Preference Analysis tells you how your customers currently feel about your programming and pricing, providing an essential evidence base for programming (and subsequently ticket pricing) during and after COVID-19.
Our Approach: Conjoint Analysis
This project uses Conjoint Analysis, which is famed for its accuracy in predicting customer responses to hypothetical products and situations, capturing willingness to pay across different segments of your market, enabling you to design the optimal differentiated offers.