What you should pay for ticketing services

Choosing the best-fitting ticketing platform can be difficult.  To some, it's easiest to choose the cheapest solution; to others, the most transparent solution that fits; and at other times, it's just what fits right with you, your organisation, and your events. But how do you decide what ticketing platform is actually worth its money? How can their services cover what you most need?

Read along to understand what you actually should be paying to gain the most value for your events.

Nr. 1 most common mistake

You probably already know this. When doing grocery shopping, those yellow discount stickers seem appealing, even though they are placed on products that you might not need. You buy them because you think you're going to use them, but they just end up at the back of the cupboard, costing you more than they're worth. This is the same mistake we see when organisers are choosing a ticketing platform. The cheapest solution might seem worth it at first, but it ends up costing you money and not actually adding value to you or your event.

Cheap becomes expensive

A lower-cost solution is appealing at first, as it suggests you can sell tickets and still save money to focus on your event. However, the cheap solution can end up costing more if it doesn't convert lookers into actual buyers.

Moreover, the cheap solution might result in lower visibility for your event, as SEO (Search Engine Optimisation) is deprioritised due to low liquidity. This means your event will appear lower in search results on Google and Bing, generating less value for you.

Lastly, the cheaper solution might require more manual work on your side, limiting your time for the event. You might have to buy marketing on the side to actually make a sale, and you might have to push tickets out more manually through your own network. This should be something your ticketing platform should help handle for you.

How you should measure value instead

Even though cheap is appealing, to sell most of your event, your focus should shift to these three aspects instead. Focus on:

Total tickets sold

Before choosing a ticketing platform, look into its average sell-out rate. The ultimate goal is, of course, a 100% sell-out rate for an event, but a good ticketing platform will achieve an average sell-out rate of 90% or higher. 

Time saver

Hosting events is a highly focused segment where you need to be on your toes throughout, from creating the event to finishing it. Therefore, a ticketing platform needs to be a time-saver, not a time-taker. Cheap tickerting platforms might end up taking more of your time than a more expensive platform, as they rely on you to do much of the work to actively sell out.

Growth potential

The right ticketing platform should help you to grow, so the event is larger and more hyped every year. If you and your event are pulled down rather than growing up, it is not the right fit.

Increase rather than decrease

Flatlining is good. If you flatline at 100% sales. If you flatline at 95%, it's bad because it means you could do more to sell out the event. But it's limited what you alone can do, here's where the right ticketing platform comes into play. As said before, the perfect ticketing platform should help you grow. A 10% average growth per year is not high - it's what is expected. Look for a ticketing platform that can help you grow every year, so you and your event can reach its full potential.

Conclusion

To conclude, the cheapest option is rarely the best. The best option for you is a ticketing platform that consistently creates the most value. 

Are you still unsure about how to choose a ticketing platform? Get in contact with Billetto and we'll guide you every step of the way.