We're all working towards the same goal: getting butts in seats, selling tickets and flat out making more money. If you haven't experimented with price optimization in the past, the time is now. This is a one way ticket to filling your venue and creating more revenue. Join us for a chat with Erin Searfus, a customer turned employee with Vendini who saw the light of price optimization and never looked back. In this webinar you'll learn: (1) Strategies for price optimization; (2) How to determine the right strategy for you; (3) Real-world examples of success.

1. PRICE OPTIMIZATION:
The Secret to Butts In Seats, Selling
More Tickets and Making More Money
ERIN SEARFUS
SENIOR ACCOUNT EXECUTIVE
VENDINI

2. What You’ll Learn
★ How to get more butts in seats
★ Increase ticket revenue
★ Through…
★ Utilizing price optimization strategies

3. Who Am I?
★ Former General Manager of Mid-Size Theatre
★ Worked in various box offices / arts management
for 9+ years
★ When I’m not at Vendini, I’m out seeing plays,
concerts, and sports games (Go Giants!)
★ Why am I talking to you today? Erin J Searfus
Senior Account Executive
Because I’ve done this, and it’s worked

4. What is Price Optimization?
★ Pricing Optimization:
Creating flexible pricing around certain seats, times, or dates in
order to sell more tickets
★ Examples of this are:
– Increasing prices on “more desirable” seats or “more popular” show
times
– Reducing prices certain seats or show times

7. + =
PRICE OPTIMIZATION STRATEGY REVENUE
This Led to Staggering Results
TACTICS
★ Moved from $40 blanket price to
$20-$70 range
★ Varied pricing based on seating
section, day and time
RESULTS
★ Increased from 47% to 99% fill rate
★ Average nightly Box Office $$ total
= 2.5X increase
★ Moved to larger theater

8. Added “Sections within Sections”
SEC: ORCH I
ROW: 1
SEAT: 2
PRICE: $55
HOLD: None
STATUS: For Sale
COMMENT:

9. Not All Seats Are Created Equal
“But there isn’t a bad seat in my venue!”
★ No matter the size, there’s always
going to be seats that are better for
different people
Example:
★ Some people will always pay more for
an aisle seat
★ Some prefer sitting closer to the stage,
some closer to the back
Photo Credit: The Muppet Show

10. The Matrix
Photo Credit: The Matrix

11. The Real Matrix
Seating
Section
Ticket Type
Thurs at
7pm
Fri at 8pm Sat at 8pm Sun at 2pm
Opening
Night
Orchestra I
Adult $50.00 $60.00 $70.00 $60.00 $70.00
Senior /
Student $70.00
Orchestra II
Adult $45.00 $55.00 $60.00 $55.00 $70.00
Senior /
Student $30.00 $30.00 $70.00
Orchestra III
Adult $35.00 $45.00 $55.00 $45.00 $70.00
Senior /
Student $25.00 $25.00 $70.00
Orchestra IV
Adult $20.00 $20.00 $20.00 $20.00 $70.00
Senior /
Student $20.00 $20.00 $20.00 $20.00 $70.00

12. Pricing for every budget
“My Patrons can’t afford to pay more”
★ Remember that some people might have the means to spend more on
tickets
★ Some people are always looking for the best price or a discount
★ By offering a range, you’re not pricing people out

13. How Do I Get Started?
★ Do research
– What shows are selling out?
– What show times are most popular?
– Which seats sell the best?
– Which seats and show times sell first?
– Which sell last?

14. Put That Research to Good Use
★ Do some experimenting
★ Be vague with ticket price, but set a range, or starting point
– Tickets $15-35
– Tickets from $15
★ Set your pricing matrix, adjust as you go
★ Implement in your ticketing system

15. Other Things To Consider
★ Season tickets
★ Flex Passes
★ VIP Packages & Experiences
★ Concessions Add-Ons

16. THANK YOU
ERIN SEARFUS
SENIOR ACCOUNT EXECUTIVE
esearfus@vendini.com