Growing your event revenue base can be tough after going through the challenges of 2020. However, getting back on the horse is easier if you’re planning to organize your upcoming events with us.
With our revenue stream optimization feature cluster, event organizers and hospitality venues have been striking a steady balance of flexibility with functionality to achieve a steady ticketing retention strategy. More from our 6 step guide below…
Here’s Our 6 Step Guide For Growing Your Event Revenue:
1. Keep It Flexible
While creating your events, categorize your ticket into “Student”, “Adult”,” VIP”, and so on to apply separate pricing for each of your custom categories. With our Flexi Ticket Pricing feature, you can create an assortment of ticket pricing and packages to suit your event categories. Here’s how:
- Divide your ticket sale into 3 distinct phases
- Create Early Bird ticket pricing for Phase One where event attendees and loyalists can get their hands on your event ticket without paying the higher price than usual.
- Phase Two audiences can be a general pool pricing where your event tickets are sold at a pre-defined market rate
- With Phase 3 of limited tickets left in your inventory, you can choose to raise your prices and cover up for the price deficit in your Early Bird Phase.
If ticket pricing flexibility just won’t do it for your event audience, you can always throw in a discount to sweeten the deal.
2. A Little Something For Everyone
With our Discount & Packages feature, you can create a little something for everyone from your pool of event attendees and guests. Maybe an early bird discount for those loyalists or a perhaps group discount for a family?
To boost your event attendance and ultimately your revenue, discounts can be used smartly to create hype, build a feeling of urgency, and reward attendee loyalty. Here are 5 types of discounts that you should use for your upcoming events and optimize your event revenue stream.
3. Pass It On
With our Fees Customization feature, you have the complete control to decide who pays for the ticketing fees: you or your event attendees. You can simply ‘Pass On’ the ticketing fee to your attendee’s ticket cost or ‘Absorb’ the cost at your own expense if needed. You can use our interactive event ticket price calculator to know your revenue-generating potential from Absorbing Fees or Pass On Fees for each event based on your seating type, venue capacity, and ticket price.
At Yapsody, do not hold any funds, so you can collect both the ticketing fee and the revenue directly in your preferred payment gateway account.
4. Turbocharge Your Revenue
Last-minute hassles are no stranger to the average event organizer. However, not everything is all that bad when you have the option to apply Surcharges to tickets. When your last batch of tickets are on sale, you can get the upper hand by timing your ticket surcharges correctly and turbocharge your revenue stream in a short span of time.
5. Integrate With The Best
No matter which part of the world you’re in, you can collect your event ticketing revenue by integrating with the best online payment gateways. With globally recognized powerhouses such as PayPal, Stripe, Meritus, WePay, Braintree, and Sage, you can attract wider audiences by giving them an online method of their choice to pay, making it convenient and hassle-free
As of today, our clients are leading hospitality & entertainment enterprises, based in the United States, Canada, Australia, United Kingdom, and other European countries that integrate with these online payment options for collecting revenue. Here’s Why Event Manager Needs Online Payment Integrations.
6. Manage Cash Flow Better
Stressing about paying your monthly ticketing invoices should never come between you and your hard-earned money. Our Invoice Payment Flexibility will better your cash flow management further.
Benefits Of Yapsody Invoice Payment Flexibility?
– Fees are based on a flat fee per ticket plus a percentage of the ticket price, which varies by country/currency and Yapsody tier (i.e., regular, Gold, Platinum, Elite).
– Invoices are issued by the 2nd day of each month and are due 10 days from the date of issue.
– As the due dates approach, we remind account owners through emails and your Box Office as well.
– Pay your invoice from the billing section of your Box Office directly by Credit Card.
Now, isn’t that a relief that along with a robust set of event ticketing features, you also can access the functionality and flexibility required to optimize your revenue stream and cash flow? Sign up now and start growing and optimizing your event revenue stream.