Monetising Mobile #5: Upgrade your Revenues with Premium Experiences
Welcome to the final chapter of our “Monetising Mobile” blog series. In this article, we look at how venues, festivals & sports teams are using LiveStyled platform tools to upgrade the experience of their fans and attendees.
Why focus on upgrades?
Having worked closely with venues of all sizes, we’re about to make a bold statement; offering experience upgrades to existing ticket holders is the single easiest way to monetise your fans through mobile - and here’s why:
• Engaged fans spend more - Fans who have purchased a ticket are already engaged and have proven they are willing to spend money with you.
• £20 is less daunting than £90 - It’s simple psychology that paying £20 for an upgrade is far less daunting than paying £90 for the ticket in the first place. Fans may have not had the money to pay the 90 at the time of original purchase, but it’s very likely they’ll have 20 now.
• More opportunities to communicate - Your opportunities to market them are now much greater, given you can now suggest the idea of upgrading through the usual communications they would expect to see in the lead up to an event.
• Sponsors love it - Brands want to offer exclusive experiences and make their customers feel special. Premium Upgrades are a perfect way to deliver value for your partners.
• It’s highly profitable - Lastly, but my no means least, you’ll likely own the manifest for your upgrade experience, which in many cases will mean 100% gross margin to your venue or event.
Whether its a girlfriend looking to surprise their partner at the last minute, or a son looking for a Birthday present for their dad - upgrades are a win-win for both attendee and the venue.
Some of the Results
LiveStyled clients have achieved major revenue gains just through Upgrades, including:
When to offer experience upgrades
Before examining the tools available on the platform, let’s first look at some scenarios you might find yourself in as a venue, festival provider or sports team:
• You have an allocation of seating for which you own the manifest, however it often doesn’t sell out in its own right.
• You have tiered ticketing for your venue or event, with better experiences gate-fenced by a higher ticket price.
• You have the means to add value to the attendee experience, outside of your existing ticket prices. This opportunity might well come about after tickets have gone on sale.
• You have sponsorship partners helping to fund premium experiences. You want to drive customers to their activations and measure the results.
Many a venue, festival provider or sports team will be able to relate to one of the above statements in some form - there’s nothing worse than empty premium seats or unsold VIP inventory, especially when those places could be filled by those who have already purchased a ticket.
A Plug-and-Play Solution
The beauty of our technology is that we can offer experience upgrades without any integration in to ticketing systems (though this is certainly something we can do!)
The system user simply uploads the upgrade to the LiveStyled Backstage, sets their stock limit and they’re good to go. This stock can then be updated at any time.
The below user journey illustrates how an experience upgrade might look like for an upgrade to a premium seating deck at an arena:
1. Ticket holders first receive a marketing communication - this might be an email, a post on the venue/ event’s Facebook page, or a push notification through the app.
2. They then download the app if they don’t yet have it, or open it if they do.
3. Once they have selected the event they’re attending, either manually or by the app recognising their ticket type - they will be greeted by a banner which highlights the upgrade opportunity.
4. tapping on the banner, the user is taken through to the Upgrade offer in the app. From here, they can read important collection information, before choosing where to collect their upgrade, selecting their quantity, and then adding it to their basket.
5. The user then checks out using a number of payment types available on the LiveStyled platform. These include credit/debit card, PayPal and Apple Pay.
6. Once checked out, the user will be able to access their order in their app wallet, this will again clearly remind them of where to collect their order. They will also receive a confirmation email reiterating this information.
7. The user will then enter the venue using their existing ticket, so not to slow down the process of getting fans in to the venue.
8. The user will then head to their chosen collection point, showing their phone to the member of staff at the entrance to the Premium area.
9. The staff member will then enter a unique pin number in to the user’s phone, which marks the order as collected and ensures it cannot be collected again. The user is then given their wristband for the premium area.This part of the process works completely offline, meaning the user does not need to have internet connection for the order to be collected.
Its as simple as that, LiveStyled clients are driving significant levels of incremental revenue from VIP upgrades, simply by implementing the user journey highlighted above. What’s more, our technology is flexible enough to deal with any operational nuances your venue might be facing - our Customer Success team is on hand to ensure we get everything just right.
If you’d like to find out more about VIP upgrades, or how you can use upgrades to drive incremental revenue for your business, contact us here: