The Director of Sales for Olympia Entertainment reveals how his team sold out its suite inventory in less than two months for Little Caesars Arena.
In selling the new Little Caesars Arena, we had an amazing preview center, and we had amazing products to sell. But the thing that really drove pricing and terms for us was the year and a half of preparation before we went on sale.
“My tip to other teams is what you do up until the second before you go on sale is more important than the on-sale itself.”
– Ryan Coyle, Olympia Entertainment
We structured a system that built demand and momentum for us before we went on sale with a product. For example, if we had 60 suites, we would build an actual forecast of 120 companies to buy those suites to make sure we had a consistent flow in the building and to make sure we could sell them for absolute top dollar.
That strategy was more important for us than our beautiful new building. It was more important than how nicely the suites are finished. We created a demand where prospects truly believed that if they didn’t buy it, somebody else was going to come in and buy it.
My advice to everyone moving forward is prioritize your people as you think they’re going to buy, and don’t factor in anything else.
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