3 Essential Tips for Balancing Cost and Quality in Ticketing Solutions
When it comes to event ticketing, organizers are often caught in a dilemma: how do you save money while still ensuring a high-quality service?
This decision isn't just about the upfront cost – it involves a deeper understanding of the hidden expenses that can significantly impact the overall event experience.
In this article, we’ll help you understand the unseen costs associated with budget ticketing solutions and how to get the most bang for your buck based on the event you’re trying to host.
3 Tips to Help You Choose the Right Ticketing Platform
As you well know, putting on an event is a lot more complicated than most people think. That’s why it’s important to get a ticketing platform that works for you. Bryan Brand, vice president of business development at Ticketsauce, says there are three tips you should follow before settling on a platform.
Tip No. 1: Be Aware of Hidden Fees and Financial Surprises
It’s essential to recognize the real expenses associated with low-cost ticketing platforms, as they often come with hidden costs that impact your event's financial health and quality.
- Credit Card Processing Fees – The Hidden Surcharge: A common oversight in budget ticketing solutions is credit card processing fees. Bryan Brand of Ticketsauce points out that many sites do not include these fees, typically around 3%, in their advertised prices. This additional charge can significantly inflate the overall cost. For example, for a concert expecting to sell thousands of tickets, this seemingly small percentage can amount to a substantial sum, eroding the savings promised by low-cost solutions.
- The Consequences of Payout Schedules: The timing of receiving payments from ticket sales is critical. Many low-cost platforms delay payouts until after the event, posing challenges for event organizers who rely on this income for upfront costs. This delay can be critical for events like community festivals, where organizers need funds in advance to pay vendors and secure venues. A delayed payout could strain the budget and disrupt the planning process.
"Each one has different payment processor options, and you need to know how they’re issuing payouts, as well as what does that payout schedule look like?” Brand says. “Are you getting your money ahead of the event, or you're waiting until after the event? That's really important to note."
Tip No. 2: Consider Opportunity Costs
When choosing a ticketing solution, it's vital to consider what opportunities you might lose with a budget option. Brand highlights several key areas where low-cost platforms may fall short:
- Limited Pricing Flexibility: Basic solutions often lack dynamic pricing capabilities, leading to potential revenue loss during high-demand periods. For instance, not being able to increase prices for a popular music festival on peak days can significantly impact overall earnings.
- Reduced Customization and Branding: Budget platforms typically offer limited options for customization, which can affect your event's unique identity and marketing. A generic ticketing interface might not resonate with the theme and branding of your event, potentially diminishing its impact and memorability.
- Operational Inefficiencies: Advanced ticketing systems streamline administrative tasks and improve operational efficiency, something that simpler systems may not offer. This lack of efficiency can lead to operational challenges, like longer queues at entry points, affecting the attendee experience.
"The benefit of using better software is that it’s more dynamic, more customizable, has more branding, and so you can maximize revenue and create efficiencies,” Brand says. “It allows you to really squeeze every dollar possible out of the event."
Tip No. 3: Don’t Underestimate the User Experience
User experience in ticket purchasing is an underrated factor in the success of your event. Here are the advantages a premium service offers over a budget service in this area:
- Ease of Purchasing Process: Premium services offer a straightforward, user-friendly interface, vital for events like large-scale concerts where quick and easy ticket purchasing is essential.
- Simplified Checkout for Higher Conversion: Features like a one-page checkout and popular payment options (e.g., Apple Pay, Google Pay) can boost conversion rates. For events such as food festivals, a seamless checkout encourages impulse buys.
- No Mandatory Account Creation: Allowing ticket purchases without account creation removes barriers, crucial for time-sensitive events like charity fundraisers where instant ticket sales are key.
- Clear Navigation in Buying Process: An uncomplicated buying journey is important, especially for audiences who are not tech-savvy, like in a regional theatre production. Multiple, confusing steps can lead to abandoned purchases.
The bottom line is to make it easy for the customer to spend money with you. You may be surprised at how much revenue you’re missing out on by not making your checkout process simple.
"We have a single page guest checkout so it’s quick and easy to get a customer from point A to point B to buy their tickets,” Brand says. “This drastically increases the overall conversion rate."
The Value of Choosing a Flexible, Functional Ticketing Solution
Investing in a high-quality ticketing solution provides substantial long-term benefits, outweighing initial costs. Superior platforms boost user experience and operational efficiencies, leading to enhanced customer satisfaction and loyalty.
These improvements often result in repeat business and positive word-of-mouth, key drivers for ongoing event success. While premium solutions may have a slightly higher up-front cost, they can significantly boost your event's success and may save you money in the long run.
For example, Ticketsauce's approach to pricing is simple and transparent, with a pricing structure of 3% + $0.99 per paid ticket plus credit card processing fees – which includes essential features without hidden costs. There are no fees for free and RSVP events, no monthly subscriptions or minimums, and no cancellation fees.
Additionally, here are some other benefits:
- Global Transactions: Supports transactions in 47 countries.
- Stripe Partnership: Offers flexible control over payment processing.
- Immediate Fund Access: Reduces wait times for payouts.
- Efficient Accounting: Simplifies financial management.
- Custom Seating Charts: Tailors seating to your venue.
- Onsite Staffing Support: Provides professional event assistance.
- Custom Apps: Offers white-label on-site application options.
- Equipment Rentals: Includes ticket scanners and hotspots.
- Cost and Revenue Efficiency: Enhances user experience with transparent pricing.
- Long-Term Event Success: Aims for smooth events and customer loyalty.
- Personalized Consultation: Available for tailored event solution discussions.
Contact Ticketsauce today to learn more about our pricing and services, and how we can tailor our platform to meet your unique event needs. Let us help you make your next event not just a success, but a standout experience for every attendee.
