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3. 9. 2010
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volume three - issue three
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The Demanding World of Dynamic Pricing
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Eugene Carr
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Eugene Carr
President
The Demanding World of Dynamic Pricing
If airline flight prices change daily, why is it that theater ticket prices are fixed? And why do we issue a zillion discount codes? Isn't there a better way?
"Dynamic Pricing," "Demand-Based Pricing," and "Variable Pricing" are all words that describe the notion of changing ticket prices day by day, like the airlines do. This concept has cropped up on a regular basis over the last few years in the arts, and it seems to be happening with increasing frequency. As a check on the state of the industry, I attended a session dedicated to this topic at a ticketing conference in January. Given that the room was packed with hundreds of attendees, it seems like dynamic pricing is the "it" topic across sports, live music, and the arts. And, as I found out, for good reason.
Before I went to this session, I thought that dynamic pricing was simply some new technology that automatically changes ticket prices in relation to demand from consumers. I thought dynamic pricing was a feature you could buy, as a new way to optimize theater pricing using a sophisticated technique to eke out every extra penny. While that's sort of true, it somewhat misses the point. Dynamic pricing is actually a good deal more complex than that.
Click here to read the full article.
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This Month's Poll: What are your thoughts on dynamic pricing for your org?
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In our last poll, we asked if you had ever tried pay-per-click advertising with your organization. About a third of responders said they had, with the majority of those responders having used Google Adwords. While the remaining two thirds of responders said that they had not tried pay-per-click advertising, about half of those responders would like to try it.
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This month's poll:
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What are your thoughts on dynamic pricing for your org?
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Click here to answer and see results.
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Patron Technology's E-marketing E-mersion E-vent—Arts Reach Edition
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Patron Technology will be presenting a full day pre-conference session, entitled Patron Technology's E-marketing E-mersion E-vent—Arts Reach Edition, at the Arts Reach National Arts Marketing and Development Conference on March 13th, 2010, in New York City. With best practices for e-mail marketing campaigns and Web site planning, clever uses of Facebook and Twitter, and an introduction to new operations-enhancing Web-based CRM systems, this full-day workshop will provide you with real data and tools to make substantive improvements to the way you're currently operating and marketing your organization. Click here to read more about the pre-conference session.
You must register for the full conference to register for the pre-conference day. The Arts Reach National Arts Marketing and Development 2010 Conference, Coming Together, Setting the Course: Reinvent Your Future with the New Marketing and Fundraising Strategies of the Next Decade, will focus on the most effective and efficient marketing and fundraising strategies for arts organizations moving forward. To register for the conference or to find out more, visit: http://www.artsreach.com/conference.html
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Links
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This month's link roundup looks at how a small opera company soldiers on amid the faltering economy, proposed budget cuts in humanities funding in Virginia, and the debate on whether audiences should be allowed, if not encouraged, to be digitally and Internet-ically connected during a show.
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Center Stage Opera Survives on a Wing and a Song (Los Angeles Times, 2/27/2010)
"It's a labor of love and little money for the small company, which is eking out a future a few productions at a time. Next up: 'Faust.'"
Virginia Legislature Moves to Discontinue Humanities Funding (Los Angeles Times, 2/24/2010)
"The Virginia Foundation for the Humanities stands to lose $290,000 in state funding in the next fiscal year and have all remaining support — more than $1 million — withdrawn in 2011, according to a proposed budget..."
Only Connect (American Theatre Magazine, 3/10/2010)
At the Association for Performing Arts Presenters' town hall meeting in January, presenters wrestled with the desire of audiences to be digitally and Internet-ically connected at all times.
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What's New in Gene Carr's Blog
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You can read and subscribe to regular updates from Patron Technology's president, Eugene Carr. Gene's blog provides a snapshot of his perspective on what's going on in the e-marketing world now, and how it relates to arts marketing.
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If you haven't been reading, here's a quick look at what you missed recently:
The Last Gasp for Analog Olympics
It's been a while since I've posted here, because it's been a while since I've felt inspired. But reading about the Olympics these past few days has gotten my juices flowing...
Last Gasp Indeed!
This is a quick follow-up from my recent post about the "last" analog Olympics...
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Click here to read the blog, and submit your e-mail address in the upper left-hand corner to subscribe to have updates e-mailed to you.
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If you have interesting and creative initiatives that you would like to have featured, or know of an arts marketer who you would like to recommend that we profile for one of our upcoming editions, please contact info@patrontechnology.com.Watch for the next edition of E-marketing E-ssentials coming April 13, 2010.Patron Technology850 Seventh Avenue, Suite 1201 | New York, NY 10019 | 212-271-4328
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