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I'm doing a free webinar on premium ticket sales...
I’m doing a free webinar on premium ticket sales…
I’m trying a new webinar platform.
So the landing page is still a work in progress, but here is the link.
You’re going to learn 10 ideas that will offer you my take on selling more premium tickets including things like:
Expressing value
Finding the buyer
Marketing effectively
Advertising
Customer service
And, a lot more.
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3 Ways To Maximize Opportunity Creation In Premium Ticket Sales...
3 Ways To Maximize Opportunity Creation In Premium Ticket Sales…
I’ve been doing a lot of research on the world of premium tickets lately and one area that seems to be one of constant thought is the area of opportunity creation.
As there is more competition for entertainment dollars, this is going to continue to be an area where a real impact can be made and the need to revisit the value proposition is constant.
With that in mind, here are a few ideas that…
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3 Ways To Maximize Opportunity Creation In Premium Ticket Sales...
I’ve been doing a lot of research on the world of premium tickets lately and one area that seems to be one of constant thought is the area of opportunity creation.
As there is more competition for entertainment dollars, this is going to continue to be an area where a real impact can be made and the need to revisit the value proposition is constant.
With that in mind, here are a few ideas that may be useful in generating opportunities and accelerating the buying process.
Rethinking the prospecting process:
I’m not certain if I’ve mentioned my buddy, Stu Heineke before. But Stu has an idea that he calls “contact marketing” that is all about getting the meeting with the right person through any means necessary.
Stu sent me a list of about 20 different ways that he had come across in his years of research including the usual suspects like phone, email, and networking.
But he went beyond that to pictures, gifts, toys, and donations to a cause.
The point was that when a sale was important, you had to go deep to get the meeting.
A few years back, the Miami Marlins did something like this with their premium selling department where they used the concept of “sprints” like agile project management and applied it to sports ticket sales.
They would pick a vertical and have some sort of launch sequence including sending a base to certain prospects with a note attached that said, “We want to get to first base with you.”
Maybe cheesy, but effective.
Because following the launch, the Marlins massaged the sales funnel in this vertical for 2 weeks and would have a “closing event” at the end of the two-week prospecting cycle that was focused on getting people to a yes or no decision, so everyone could move on.
When I look at the world of premium sales currently, I wonder if there isn’t an opportunity to go further to get the conversation started?
This could be a CEO scrimmage on your practice court.
You might consider sending your mascot to a prospect’s office.
It could be as simple as a handwritten note.
The point isn’t the how-to do this, but what you should do:
What we have to consider is how to differentiate ourselves compared to all the other businesses asking for our prospect’s business.
Use a process based sales system:
I have been reading a book called How Champions Think over the last few days.
It is by the top sports psychologist in the country and he has talked a lot about how champions just follow a process, they put in the work, and they recognize where they are along the path.
This gives them the freedom to perform.
What I came back to a few times was the need to make sure you were setting up the right process based goals for yourself.
For a lot of people selling, the easiest part of the process of selling is to make sure you are hitting your number of dials a day.
But outside of dialing the phone or the other forms of prospecting, how are you measuring your sales process?
Do you know the commitments that your buyer needs to make to get a deal done?
Are you measuring your success against that?
Here are a few ideas that you can think about as ways to measure whether or not your sale is moving forward:
Commitment to sharing time
Commitment to sharing information
Commitment to exploring an opportunity
There are more but unless you have thought out your sales process and laid it out, it can be difficult to completely understand where you are in the process and that can slow you down.
Become a trusted advisor:
I think I’ve mentioned this idea before.
If I haven’t, let me give you a primer on what a trusted advisor means to your prospects.
In its most simple form, being a trusted advisor to your prospects means that you have business acumen that you can use to help your prospects.
In your role selling luxury seating, this is fairly important as a tool to differentiate your games from other options that a prospect might have for an event, a reward, or a relationship building opportunity.
You can take advantage of this opportunity by doing 3 things:
Understand the businesses of the people buying your product now. Even if they aren’t in your book of business, make an effort to gain some understanding of what types of people are using your building. This will allow you to offer by insights on the type of people that your prospects might come in contact with through membership program, your special events, or in your common areas…and you might be able to refer business between the two.
Understand the business climate that is in your city: NYC is different than DC. Las Vegas is different than Las Angeles. You need to become an expert in the business in your community. Because understanding the types of opportunities and challenges the businesses in your community are dealing with will go a long way to ensuring that you can offer up insights into the needs, the demands, the challenges, and the opportunities that are likely to pique the interest of a prospective buyer.
Understand what your buyers are looking for and their goals: To go back to my days selling tickets daily, I never really sold a game. I sold a connection, an opportunity, and things of that nature. I did this because I spent a lot of time getting to know my prospects and clients and working to help them reach their goals. You can do this and that’s what a trusted advisor does.
Being a trusted advisor is both easy and difficult.
Easy because you are just finding ways to add value to people that you are trying to do business with.
Hard because you have to have initiative and spend the time on the effort.
But it is worth the effort.
How are you approaching the idea of creating opportunities in your premium sales area?
Here’s the deal: I’m going to host a webinar on Monday, March 18th at 1PM Eastern time called “10 Ways To Sell More Premium Seats” and it will be free for the first 100 people. You have to email me with the subject line “newsletter” at [email protected]
Also, I’ve put together my first new sales training in over 3 years built around creating and capturing high-value sales opportunities. I’m thinking about putting them on in 3 cities to give salespeople from different teams and leagues access to the training. To find out more, email me [email protected].
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3 Ways To Maximize Opportunity Creation In Premium Ticket Sales… was originally published on Wakeman Consulting Group
Sneak preview of the new premium seating at Prudential Center...
Sneak preview of the new premium seating at Prudential Center…
Over the past few days, I’ve had a chance to preview the Prudential Center’s new club space, “The Lofts.”
As someone that preaches the need to continue to evolve and adapt and offer greater value to fans, this looks like a really great upgrade.
Having lived in NYC for a decade, I know that there is always going to be competition for corporate dollars and seeing how the Prudential Center is…
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Sneak preview of the new premium seating at Prudential Center...
Over the past few days, I’ve had a chance to preview the Prudential Center’s new club space, “The Lofts.”
As someone that preaches the need to continue to evolve and adapt and offer greater value to fans, this looks like a really great upgrade.
Having lived in NYC for a decade, I know that there is always going to be competition for corporate dollars and seeing how the Prudential Center is working hard to position themselves as New Jersey’s choice for entertainment and not just a competitor in the New York City market is pretty wise.
Knowing the market, using the open concept with areas to congregate and long bars for people to gather at makes a ton of sense.
What I am curious to learn more about is how the Prudential Center is going to maximize the opportunities for small and mid-size businesses.
When you think about the NY/NJ area, you often think about the big businesses, and those dominate Manhattan…but New Jersey is just as much home to a lot of small and mid-sized companies that have been priced out or neglected in many upgrades and renovations.
Jason Gonella, New Jersey Devils and Prudential Center Vice President of Premium Partnerships shared, “The space is an additive product, it drives incremental premium opportunity for us from a revenue perspective and attracts a wide array of business types and sizes. The creation of “The Lofts” was driven by the success of our event-level club, “Platinum Lounge,” and the associated Platinum Club Seats which are situated just behind the penalty box – with incredible concert views. We sell through our “Platinum” seats and memberships so quickly, we are very confident in this new offering, and the reaction from our clients thus far has been very impressive.”
As I’ve had a chance to check these things out in advance, I’m really looking forward to seeing the building upon completion because I think the Prudential Center is really a venue that has been super-successful and might be overshadowed in the NY market because of proximity to two other Top 10 worldwide venues.
I love these premium upgrades and I think this one looks like a winner.
Also, check out the retro Devils jersey…those things are sweet.
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Sneak preview of the new premium seating at Prudential Center… was originally published on Wakeman Consulting Group
Here's a wise use of a testimonial...
In working with a lot of sports, entertainment, and hospitality companies over the years, people talk about word of mouth pretty regularly. Along with referrals and testimonials.
What you find if you spend enough time around these verticals is that in most cases, the talk is great, but the execution is piss pour.
That’s why in the normal course of my reviewing websites and looking for examples of things that work or don’t work, I was almost floored to see this banner at the top of the Premium Seating section of the Florida Panthers website.
Why?
Well, for the first…leading your premium seating section with someone talking about the amount of business that they have generated by having a suite is a great way to gather interest.
Second, it is the ONLY ONE OF ITS KIND IN THE NHL!
But you might rightfully ask, why is this a wise use of space above the fold of a team’s premium seating section…
Well, it is actually pretty simple.
Back in the 90s when the building boom for stadiums kicked off, suites and loge seating was in! It was huge! People had money to spend and companies were happy to make an investment in prestige entertainment amenities.
Which is a long way of saying that suites almost sold themselves in a lot of ways.
But, what goes up must come down…
And, as the 90s economy deflated and we entered a number of severe recessions, the need and desire to have these suites and boxes for companies diminished, but what never changed…the way that teams tried to sell these premium seating options!
Which has pushed teams into a bunch of terrible habits like:
Leading with discounts
Relying too heavily on giveaways
Focusing on winning and losing as the only reasons that people will come to games
Selling amenities no matter what
Which all leads to basically turning much of your stadium, if not all of it, into one big commodity and something that isn’t essential, doesn’t have a strong pull, and forces a lot of unintended consequences like:
Pricing that is poor and inconsistent because of the inability to drive consistent demand
Having to lock in large sponsors and F&B partners that look for the lowest common denominator in food, beverage, and experience…which harms the experience on the whole.
Forcing fans to pick other options because the competition from the home viewing experience, bar or restaurant experience, or something else is too great.
This leads us back to the banner at the top:
Why am I excited to see it?
Because its great!
It leads with value! It talks about the value that someone can gain by partnering with the team! It shows a distinct ROI for the buyer!
Plus, it is a real person talking about a real result!
Which when you are dealing with an item that isn’t a necessity but requires a 6 figure investment, means that you better show a strong ROI or it is going to be easy, very easy to say no.
Now, my question to you is: Why isn’t this the norm in the NHL?
Why?
Because if you lead with value, you are going to have much better conversations.
If you are focused on achieving that kind of ROI for your clients, you might have to be more creative, but the likelihood of your stadium becoming a gathering place for business leaders increases.
And, if you lead with more than just features of your product that sound nice to you, you are likely have better conversations and people will give you an indication of what they are really interested in.
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Here’s a wise use of a testimonial… was originally published on Wakeman Consulting Group
