Maximising your sports venue
The oldest revenue stream for sports organisations, ticket sales, is often the most problematic. Our proven research methodology uses data to help inform your strategy.
Challenges in revenue streams
The oldest revenue stream for sport, ticketing sales, is often the one that can present the greatest challenges. In the context of changing customer expectations, infrastructure developments and the increasing consumption of sports via media, ensuring you maximise the revenue potential of your stadium/venue whilst providing a compelling and affordable experience for your supporters is hugely important.
To achieve this, it is critical to understand your fans/customers, enabling you to make informed decisions about your venue(s) and ticketing strategy. We have developed a holistic approach to help with this, using market research and satisfaction / price modelling through online customer surveys, as well as focus groups, across all customer segments (e.g. season ticket holders, matchday ticket purchaser etc).
We incorporate specialist product pricing methodologies to gauge customers’ satisfaction with current prices as well as understand their perceptions of potential future pricing strategies. To provide a comprehensive picture of the customer experience, we complement our pricing analysis by capturing customers’ views regarding the qualitative aspects of their matchday experience, as well as a range of other issues relevant to your sporting organisation.
Benefits of our approach:
• cost-effective, web-based research, which is quick to complete and has generated, on previous projects, high response rates;
• comprehensive and robust information, informed by science and market research, regarding the pricing sensitivity of fans, which can inform pricing decisions and reduce the risk of getting pricing decisions wrong;
• positive PR for your sporting organisation, as our approach makes fans feel involved with its decision making;
• large sample sizes which allow for attitudes towards pricing in different parts of the venue to be tested, which can help identify particularly price-sensitive fan groups within the overall population;
• the price point recommendations are in the form of a maximum and minimum percentage range, to enable you to set the prices you are comfortable with;
• each survey is specifically tailored to ensure you can include all the areas you feel are relevant to your business;
• the nature of our methodology allows us to undertake these projects across the globe, with the survey hosted in whichever language(s) are relevant to your customer base;
• the development of a long term ticket pricing strategy for the future, in place of a ‘once per season’ decision