Whether you’re trying to get your organization financially stable or you’re in search of ways to give your already sustainable profits a boost, you landed in the right place! Finding alternative ways to increase revenue, especially in challenging situations, can be a difficult task. But to alleviate your research, we’ve compiled a list of four strategies that can work for any situation you encounter.
Reap The Benefits Of Cross-Selling Merchandise
You’re probably familiar with the term upselling, but have you tried cross-selling?
With cross-selling, you can sell merchandise that is unrelated to your brand or your current events by bringing attention to miscellaneous items.
Cross-selling is a great tactic because:
- It’s a definite revenue booster that gives you the ability to maximize your patron’s experience.
- And most importantly, “help the customer get more value from your business, and help your business get more loyalty and revenue from the customer”.
Attract Your Patrons With A Flex Pass Subscription
Your patrons are probably more willing to purchase a recurring subscription than to spend a chunk of money on tickets all at once. So why not give them the option of a Flex Pass Subscription?
By offering a Flex Pass Subscription, here are some perks that will keep your patrons coming back!
- Allow early access buying before anyone else to optimize your subscriber’s ticket buying experience.
- Give your patrons the ability to redeem a set number of tickets to any defined selection of shows.
Recognize Your Patron’s Recurring Business
Do you happen to come across the same guests at your events? If so, why not pay tribute to those patrons? For their continuous loyalty, giving them a discount code on tickets will show how much you value and appreciate their recurring business.
Discount codes can do things such as:
- Increase engagement with your patrons by recognizing their business.
- Giving them the ability to attend their favorite event at a cheaper rate.
Use The Power Of Referrals
During times when it can be difficult to retain new patrons, utilizing your current patrons to tell their friends and family about your events can be a powerful strategy.
You can do this by marketing your events with a referral code! For example, you can say something like: “Refer a friend and get 10% off your next order or refer 5 friends and get 30% off your next order!”.
Referral codes are a great strategy because it motivates your patrons to spread the word and save some money on tickets.
Conclusion
Regardless of your situation, these four strategies will definitely help increase your revenue! But in order to do this, you must have the proper event ticketing solution in place. With VBO Tickets, we have these tools and more! If you’re in search of a platform with a robust set of features, schedule a free demo with us today!
