Historical Data
The best way to tell what will work for your show is to ask what has worked for similar shows in the past.
Each Seat.
Pricing is the most powerful tool towards increasing profits, but research suggests that most managers spend less than 10% of their resources on price. At Standing Room, we pair our team of expert consultants with cutting-edge, proprietary modeling to ensure there’s not a dollar left on the table.
Strategic pricing is the fastest and most effective way to increase operating profits.
Strategic pricing is the fastest and most effective way
to increase operating profits.
A 1% improvement in Price boosts a company’s operating profits by 11.1% on average.†
Economic studies consistently demonstrate that a 1% improvement in price can increase operating profits by up to 3x as much as a 1% improvement in volume and up to 4x as much as a 1% decrease in costs.
Despite these findings, theater professionals consistently invest far more in advertising (to increase volume) and budgeting (to decrease costs) than they do in optimizing their pricing strategy.
At Standing Room, dynamic pricing is more than just a buzzword.
We developed quantitative, data-driven models that factor in over twenty key performance indicators to find opportunities in real-time. Our secret sauce is made with three ingredients:
Internal Sales
Once your show is on sale, our models calculate opportunities using data from every single ticket purchase.
Results Learning
Our models are iterative, continuously learning to deliver better recommendations tailored to your show.
To learn more about how our pricing techniques can boost profits for your live event, contact us.
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