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DISCOUNTING: Be Proactive, Be Selective, Be Timely | Arts Hacker

So how do you do it?

EARLY BIRD: The key is to offer discounts strategically and to specific segments, not just a blanket offer. For our holiday concert weekend, I offer ticket buyers from the previous five years of holiday concerts the chance to get 10% off IF they purchase by October 31. I give them a small incentive to buy early as opposed to waiting for the last minute. We’ve seen some great traction with this early offer. We do not offer any last minute discounts to this high-selling concert weekend. We have actually had several people say to us in the past, “Well, I’ll just wait until you send a discount offer,” or “I’ll just wait to buy until you drop the prices.” We politely explain to them that we would not be sending a last minute offer and they should buy their tickets well in advance to get the best seats. We even implemented demand-based pricing on our popular Saturday night concert. In 2013, we had the highest revenue-generating weekend for our holiday concerts by using this early discount strategy and only selling full price (and demand-based priced) tickets nearer the concert. By offering the 10% discount in October, paired with an earlier start on concert promotion, we were able to reverse a long-standing trend of people waiting to purchase until the last minute. When they realized that no discount was coming in the final weeks, many purchased at full price.

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DISCOUNTING: Be Proactive, Be Selective, Be Timely.

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