As a promoter, you know there's no better feeling than hosting a sold out event – it's the gold-standard, dream-come-true scenario that you've strived for. What could be better?
If there's one good thing 2020 has gifted the events industry, it's that we'll be seeing a lot more sold-out events in 2021 in beyond. That's in part thanks to pent-up consumer demand as the result of strict lockdowns but also the temporary restrictions placed on venue capacities.
What event promoters will face moving forward is unprecedented demand for in-person events – demand that will outstrip supply (capacity) by factors we've never seen before.
Are sold out events a lose-lose for promoters and fans?
For fans that miss out? Yes. But for promoters it's a little more complicated. If you've budgeted correctly you will have turned a profit on your sold out event (if that was your plan). On the other hand, it makes you wonder how many tickets you could have sold if you'd booked a larger venue or added more dates.
In the past, it may have been sufficient to leave this as a 'what if' – but today there is a greater need than ever before to maximise revenues from live events in their reduced capacity.
Build your audience with sold out events
Wait-lists let you acquire valuable data from fans long after your ticket sales have stopped. Grow your database by collecting fans' names, email addresses, phone numbers (for SMS marketing), addresses and more. Not only are wait-lists great for gauging demand for second shows, you can use the data collected to sell out additional events without spending a cent on marketing.
Read about the importance of owning your own data.
Owning this data allows you to utilise it in countless ways going forward:
- Gauge demand for additional shows
- Announce extra tickets going on sale without spending any additional budget on marketing
- Gain valuable insights like top Spotify listening history, along with demographic data like age, gender and location
Making your wait-list go viral
Fans who have arrived at your wait-list all have one thing in common – they want to attend your event. The best wait-list campaigns do more than just promise to let people know when more tickets are released.
There's a number of creative ways you can incentivise fans to share their data with you:
- Offer money-can't-buy prizes like side of stage access to the event
- Give away a high number of tickets to those on the list
- Give away tickets to an exclusive after-party
Using Audience Republic's Wait-List Platform, you can promote your wait-list link across your promotional channels.
After fans register using their email address or Spotify account, they share wait list access with friends to earn points – and you send out purchase links or award prizes to the top point scorers.