One of the benchmarks of success in the sports industry is ticket sales. Season-seats and Premium Level membership renewals are great sources of revenue, but there’s no guarantee these customers are eager to return.
If you were Director of Ticket Sales, how would you prepare your sales staff to approach renewal opportunities? What messaging would you want them to deliver to current ticketholders, and how can they best represent the brand in the process?
While detailed responses to these question will vary, the underlying theme should remain the same; personalization. Acquire unique information about your unique customers and their unique experiences to consistently offer unique value propositions. By speaking directly to an individual customer about their wants, needs and preferences, you are nurturing a relationship that extends beyond the transaction and in itself is driving the decision to renew.
Where do you start? Begin by digging through your inventory of sales data; looking to pull whatever you can on each individual customer. Hopefully up to this point you’ve been collecting data, asking for customer feedback, and keeping an organized bank of analysis and results.
From there, develop a customizable, targeted sales strategy. By answering a few key questions about each customer before making renewal calls, you will prepare your sales staff with data-driven insights for personalized sales efforts and ultimately renewal success.
Here are a few of the questions I’d want to answer before dialing any numbers:
Why did this member originally purchase a season membership?
Suite owners are commonly businesses looking to network and entertain clients. Premium Level members might be hardcore fans or smaller organizations who don’t have the budget for an entire suite. By understanding the original decision drivers, a sales representative is equipped to lead conversation in a meaningful direction and show that individual account holder they are more than just a sales figure.
What is their purchase intent or likelihood of renewing at the time of the call?
If a team representative knows the target account holder is excited to renew for next season, they will start conversation with energy and enthusiasm. Asking about good times had throughout the previous season can evoke positive emotions and further fuel the renewal fire. On the other hand, if a member is unsure about renewing or outwardly unsatisfied with their previous experiences, a team representative is prepared to approach the conversation from a more passive, inquisitive angle hoping to understand the customer’s concerns and begin rebuilding the relationship.
How frequently did this member attend games and/or events?
It’s common for Premium Level members to have access to a variety of events; such as sports, music and entertainment. Attendance habits are a good indicator of customer interest, and this allows ticket sales staff to reference future events that are relevant to the unique preferences of each unique member.
How satisfied was this member with their past experiences?
For members who had great experiences and high levels of satisfaction, a team representative is ready to jump right into positive experiential aspects; aligning new features being introduced for next season to the unique interests and experiences. If a member was unsatisfied with their experiences or had specific concerns, acknowledging these aspects upfront will convey a team’s genuine interest in offering positive experiences and it will be an indication that members are being heard.
To accurately answer these questions, there must be an inventory of current data available to query and analyze. If a team hasn’t been tracking sales and attendance records or collecting customer feedback, they aren’t able to prepare targeted sales strategies. If a team representative doesn’t know who they are talking to, they risk being received as an unsolicited sales call.
Bottom line: The key to driving renewal rates is personalized engagement. The key to personalized engagement is data-driven insights. The key to data-driven insights is a cohesive research strategy, and the key to a cohesive research strategy is partnering with an experienced, proven partner who specializes in connecting teams with their fans.
Are you ready to start answering questions about your customers instead of asking them? We want to support your team in offering best-in-class experiences by leveraging our 30+ years of being curious, creative and customer-centric.
We live in the world of data-driven insights and we love what we do.
Give us a shout and let’s start a conversation!