Welcome to fourth chapter of our “Monetising Mobile” blog series. In this post, we will look at a range of features that LiveStyled clients are successfully implementing through our platform to drive merchandise revenue.
Using mobile for merchandise sales opens up a wider range of new revenue streams. Not only will attendees of the event have a more accessible and convenient way of ordering and collecting their fan merchandise, mobile allows merchandise to be sold before, during and after events, increasing profit significantly.
By using the LiveStyled platform, venues can decide when merchandise can be seen by fans as well as assigning merchandise to specific events. Fans can order merchandise, and have it delivered in time for the event.
Home delivery allows customers to browse through merchandise before, during and after the event and receive their chosen products straight to their door. This gives the customer the ability to receive their goods before the event as well as helping them avoid spending time queuing to collect during or after the event.
Pros: Ability to receive merchandise before event so customer can benefit from using it during; ability to keep track of stock without danger of running out of merchandise at the time of the event; opens up new revenue opportunities in customers that may not be attending the event; customers can browse the full catalogue of merchandise.
Cons: Customers have to wait for delivery time; customers have to pay for P&P; relies on an external courier service; customer service may have increased cases resulting from incorrect deliveries, unsatisfied customers etc; cannot physically see merchandise (quality, sizing etc)
Dedicated app lanes or collection points
This feature involves allocating specific collection points, or lanes at existing merchandise stands, where only app orders are accepted. Having strong, visible in-venue branding for the collection points is absolutely critical to the success of this feature.
Pros: Customer benefit is clear and easy to communicate both prior to event and in-venue App queues flow visibly faster than normal queues; all customers and staff know what to expect, resulting in a more consistent experience and significantly faster service.
Cons: Initially, merchandise teams can be resistant to the idea of allocating dedicated space to app collection; less tech-savvy customers may be disgruntled about watching app customers get served first.
Discounts and Bundles
Using the LiveStyled platform also provides the perfect opportunity for cross-selling and up-selling. A mobile platform allows for mixed merchandise and food bundles which would be difficult to implement on physical stands.A successful method current LiveStyled customers use are advertising app-only discounts and bundles on tickets, emails and other marketing channels to encourage attendees to download the app.
Users of the app are more likely to have a bigger basket size, hence spending more, while being given the opportunity to make easy repeat purchases compared to those who don’t use the app.
Pros: Customer benefit is clear and easy to communicate both prior to event and in-venue; Revenue is proven to be higher when discounts and bundles are used. The app gives instant visibility and control of stock DURING an event and it acts as an emergency backup.
Cons: Ongoing updates are needed to bundle and deal say need to convince venue of benefits of using deals & bundles as seem like money would be lost; deals and Bundles need to be advertised well to work effectively. It often requires collaboration across multiple departments which can get messy
Bear in mind that these are just a handful of the features that can be used to drive merchandise revenue. If you would like to learn more about mobile merchandise purchasing or would like to see how LiveStyled can help your venue, click here to contact us.
Missed out on the previous chapters of the 'Monetising Mobile' series? Use the links below to read more:
Monetising Mobile #3: Target and Reward Loyal Customers
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