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Time to Change? Pricing, Deals, and Strategy

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Pricing strategies can have great impact on deals and revenue for both agents and presenters. In the middle of this mix is the audience and their behavior that either creates demand for your performances, or leaves you with a lot of empty seats. Pricing and audience guru Jill Robinson of TRG Arts, Jackie Knobbe of APA Agency, Jeremy Ganter of Mondavi Center, UC Davis, and Joan Squires of Omaha Performing Arts discussed the ins and outs of maximizing revenue and developing audiences through pricing and scaling in this session, presented at the 2015 APAP conference in New York City.

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Time to Change? Pricing, Deals, and Strategy

  1. 1. TIME TO CHANGE? PRICING, DEALS & STRATEGY Joan Squires, Omaha Performing Arts Jill Robinson, TRG Arts Copyright © 2015 TRG Arts All Rights Reserved Jeremy Ganter, The Mondavi Center, UC Davis Jackie Knobbe, APA Agency
  2. 2. Yo Yo Ma at Holland Performing Arts Center, 2010. Photo by Herb Thompson.
  3. 3. Holland Performing Arts Center, exterior. Photo by Tom Kessler.
  4. 4. Demand Management Pricing
  5. 5. political reactive Pricing is emotional
  6. 6. political reactive Pricing is emotional
  7. 7. Pricing should drive patron behavior.
  8. 8. music Broadway comedy family dance Different genres, different expectations
  9. 9. Price points & dynamic pricing Discounting Retention Scale of hall Technology Inventory management The issues
  10. 10. Donors and consummate loyalists The magic of “and” From 1st time to second or last time to NOW VIP access & pricing Better access, Incentives for upgrades, adds Least attractive access, incentives to upgrade All Viewed Thru A-B-T Sustainable Income: Integration of Loyalty & Demand Management
  11. 11. PUTTING IT TOGETHER Managing the seated event business for sustainable loyalty and revenues
  12. 12. Organizational Demand Strategy • Increased Income • Perception of Success • Loyalty Management
  13. 13. How? Demand strategy 1. Understand the impact of demand on revenue, loyalty 2. Build the infrastructure for success 3. Manage it. Together.
  14. 14. Demand factors Day of weekSeasonality Time of day Programming Opening & closing dates Real Estate Icons via the Noun Project under CC BY 3.0 Credit: Aditya Dipankar
  15. 15. Build the infrastructure for success Develop a scale plan that works • Manage perception and maximize income • Is your scale optimal? • Does the house naturally dress? • Are areas selling out? • In the right order? • As a performance succeeds, does per capita revenue rise?
  16. 16. MANAGE IT. TOGETHER. Pacing Meetings
  17. 17. What does this look like in practice?
  18. 18. DATA-DRIVEN PRICING: Scale, inventory, and dynamic pricing
  19. 19. DYNAMIC PRICING Data-informed
  20. 20. WHAT’S NEW, WHAT’S WORKING The changing landscape of deals
  21. 21. Pricing should drive patron behavior.
  22. 22. THE ARTIST VIEWPOINT: Agents, artists, and negotiations Price points & dynamic pricing Discounting Retention Scale of hall Technology Inventory management
  23. 23. WHAT SHOULD CHANGE? Challenges and opportunities
  24. 24. Radio City at Orpheum Theater, 2014. Photo by Jodi Hauptman Drannen.
  25. 25. Holland Performing Arts Center, Kiewit Concert Hall. Photo by Tom Kessler.
  26. 26. Price points & dynamic pricing Discounting Retention Scale of hall Technology Inventory management The issues
  27. 27. WHAT’S NEXT? Conclusions and takeaways
  28. 28. Questions
  29. 29. TIME TO CHANGE? PRICING, DEALS & STRATEGY Joan Squires, Omaha Performing Arts Jill Robinson, TRG Arts Copyright © 2015 TRG Arts All Rights Reserved Jeremy Ganter, The Mondavi Center, UC Davis Jackie Knobbe, APA Agency

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