How to Make a Profit in Event Management
Most theaters, arts centres, and arenas etc , will hire out their concert hall for special events. You, the up and coming Promotor could easily arrange for a POPULAR or NICHE act to appear some months ahead. There may be an act or popular group that have strong links with your community, that way you will have a head start in your concert promotion efforts and you will be familiar with your marketplace.
To recoup the cost of hiring the venue and paying the staff and the artist, you will of course have a given amount of seats and you will price the seats accordingly. Your obvious goal is to make a handsome profit and you must not fail. Presuming you’ve done some research and you have secured the services of a great act you can get down to the business of promotion. But first we must find some way of managing ticket sales.
Well I dont know exactly what cut booking agents take when they sell your tickets but if you have a month or two in advance you can easily manage all this your self with some concert seat reservation software for your website. That way you can plug the website into your network and with some clever marketing you can watch your venue gradually fill up and even automate the process online.
For instance you will invite your network to reserve their seats themselves, they can actually choose where they want to sit and whats more you will capture their email, address and telephone numbers into your online reservation system for future marketing opportunities. You dont have to take immediate payment using an expensive online payment system, but you will be able to contact them by email and phone to arrange payment in other ways.
Another way to save money will be to allow your customers to pick up and print out their tickets from their online account they created when they reserved their seats. The tickets can be PDF format with a unique reference id and 128 Barcoded. You would only need a handheld barcode scanner and a laptop at the door of the venue to check ticket authenticity.
You have time to use word of mouth, community newspaper, local and national advertising to guarantee a sold out performance and you can monitor everything from the comfort of your own home.
Now if you are successful with your concert promotion and the show is a fine success?….what a great achievement and most probably a handsome profit if you got your sums right. Now you have a a huge database to work with onselling other products and services and ready for your next big show. Well done.
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