For sold-out events, ticket resale is a brilliant solution to wipe out ticket fraud and an alternative to refunds. With a pool of ready fans on a waitlist, ticket holders can easily get their money back without events having to lose ticket sales or replace customers themselves. But what happens when you see an increase in ticket resale listings and your event hasn’t sold out?
It’s understandable that this scenario might make you nervous, but your resale listings are more valuable than you realise. If you use Tixel to manage your fan exchange, read on to find out how these insights can help you make smarter, more informed decisions that will impact the success of your event.
Resale insights: your new crystal ball
If you don’t use an official resale channel like Tixel, resale listings will take place unchecked over social media and classified sites. The benefit of having them all on Tixel is that you will get a real-time look at what the market is saying about your event.
For example, if you are seeing an influx of tickets appearing on your listing when your event hasn’t sold out, there is a good chance that something is spooking your fans and your risk of no-shows is on the rise.
Don’t panic. You have been given a crystal ball into the future of your event in time to take action. It could be that fans no longer feel comfortable attending your event or that they are responding to news such as a headliner getting sick or new public health advice. Instead of waiting until the last minute to cancel an event, now is the time to look at what you have invested so far and see if it’s worth postponing to a later date. If health advice is the issue, you could also consider a hybrid-virtual model to allow more people to attend from a safe distance.
What about heavily discounted tickets?
The value of an event ticket is all about perception. People will pay what they perceive to be good value to attend your event. If your event no longer looks like a good deal, that value drops and you may notice a trend of ticket holders looking to resell their tickets on the cheap.
This is another opportunity to respond to what the market is saying about your event. If you have concerns that resale tickets are devaluing your event, what can you do to turn this around? Find out what your audience wants and how to get them more excited about your event to improve the value of your events — and ticket sales.
Postpone events without the pain
One of the best things you can do to protect your event during these times is to be prepared for anything. Launch your event with Tixel waitlists in place to reduce no-shows, stay flexible and sell out sooner. Learn more or sign up for free now at tixel.com/organisers