Over the past five years, dynamic and variable pricing of tickets has become standard. Fans have come to expect ticket prices to shift throughout the season based on basic supply and demand trends. This pricing structure, however, is not a new concept.
Secondary market distribution leaders have benefited from the ebbs and flows of the sports industry for decades. Companies like Prolific 1 partner with rights holders on macro goals of driving attendance and providing secondary market insight on buyers. Through secondary exchanges, teams put more eyes on seats while offering fans a preferred buying experience. This controlled sales process helps teams price tickets more effectively by using dynamic and variable primary pricing models, while supplying new lead information and customer data for teams utilizing mobile transfer technology.
In many mobile ticketing partnerships across the NFL, teams have grown their buyer databases by up to 500% due to the amount of volume that occurs through these distribution channels.
Rights holders can create a customized secondary market selling strategy to focus on specific inventory locations where primary demand may be lower, including near-term inventory.
Utilizing a trusted distribution partner allows for an open-concept selling strategy. This strategy positively impacts building optics and produces ancillary revenue, where otherwise, the seat would have remained spoiled or unsold. Prolific 1’s distribution process allows prospective customers a chance to sample premium areas on a single-game basis which enters them into the corporate sales funnel.
Last season, Prolific 1 offered a club product through its open distribution network at an affordable single-game price with an NHL partner. This primary sales strategy allowed team professionals an opportunity to meet ticket buyers and speak to them directly about the additional benefits that these premium seats offer. As a result, over 100 new premium seat season packages were sold in that minimally marketed, high-yield area.
These changes in ticketing strategies have granted teams new insight and benefits that have previously been inaccessible. But teams looking for a custom distribution model for their organizations or premium areas must choose a trusted partner that can assist in meeting organizational goals.
This venue solution was published in partnership with Prolific 1.
About Prolific 1
Prolific 1 partners with entertainment rights holders, combining industry-leading technology with expert analysis to drive incremental revenue and attendance for live events, on your terms. With 250-plus forward-thinking partnerships across live entertainment and decades of experience, Prolific 1 delivers flexible solutions that provide market strategy, real-time pricing optimization, controlled inventory management, actionable data and analytics, and more. With decades of experience and millions of tickets sold each year, Prolific 1 provides next level insight, seat by seat.
To learn more, contact Eric Lapointe at ericl@prolific1.com or follow Prolific 1 on LinkedIn and Twitter.