Imagine you work for a company that buys season tickets to sporting events, concerts and the performing arts as part of its business development strategy. Your role within your company includes deciding which events to attend, the number of tickets to purchase, who will receive them, and how to distribute them (digitally/will call, etc.). Plus, you must approve ticket requests, monitor usage, track the returns on the investment and determine what to do with unused tickets. You should know the answers to questions such as:
“Are the tickets truly being used to attract or retain clients or are C-suite execs using them for personal entertainment?”
“Are we in compliance with tax codes?”
“How many tickets went unused and why?”
“Did we buy tickets to the events that best match our strategic goals?”
Managing corporate event ticketing programs is frequently time-consuming, problematic and costly, especially when tickets are misused by employees, used ineffectively (e.g., given to clients for no discernable benefit) or go unused entirely.
These are exactly the problems Ticketnology solves for its clients!
We offer a web-based, cost-effective, user-friendly platform called Ticket Booth that streamlines event ticket management. With Ticket Booth, our clients simply log into their online account where they can:
• Quickly approve requests and assign tickets to the appropriate recipients
• Efficiently allocate and distribute tickets nationwide, including “gift cards”
• Accurately track ticket usage to minimize misuse or waste
• Effortlessly resell unneeded tickets, which helps recoup costs
• Easily donate unneeded tickets to charitable organizations (to build goodwill or provide tax benefits)
• Conveniently access real-time data on usage, compliance and ROI
• Immediately receive assistance from a dedicated account manager instead of talking to a phone or chat bot
TICKETNOLOGY CLIENT SUCCESS EXAMPLE:
A division of global IT firm Tata Consulting Services (TCS) partnered with Ticketnology (when branded as Event Finders USA) in 2020 to resolve three of its primary event ticket challenges:
• Unused event tickets
• Underutilized business development
• Missed opportunities for employee retention and recognition
TCS sponsors an NBA and an NHL team in one of the cities it has offices, and as part of that sponsorship, it receives an allotment of season tickets. TCS was initially using the season tickets as part of its client appreciation strategies for its three most important clients. TCS did not distribute the unused tickets to smaller clients, employees, charities or other entities. It also lacked the time and resources to track ticket utilization— but estimated that roughly 70 to 75% of its season tickets went unused during the last complete (pre-Covid) 2018-19 season. In addition to unimpressive ROIs, TCS was missing other benefits that a well-designed event ticketing strategy can provide.
SOLUTION:
We immediately identified opportunities to help TCS develop and manage a robust ticket utilization program. First, we helped TCS identify 42 of the approximately 123 season events it did not plan to use during the 2021-22 season. We resold the unneeded tickets for $1,400 per event on average, using our proprietary reselling tools and industry expertise.
Then, we estimated the actual value of its per-event cost as $3,500 instead of the inflated $7,000 cost (indicated by the teams’ publicity departments). Last, we provided opportunities to trade in unwanted tickets for tickets to more desirable events, including events in other locations.
RESULTS:
Instead of TCS’ unused 2021-22 tickets going to waste, it earned about $60K in just a few months by reselling those tickets.
TCS initially felt that only its three largest clients justified the $7,000-per-event price tag. However, with the more accurate $3,500 cost, it expanded its client appreciation strategies to include smaller clients, fostering growth potential in previously under-recognized markets.
In addition to “sharing the love” with smaller clients, TCS uses Ticket Bank to distribute event “gift cards” to clients in other locations, enabling clients to choose dates and events that fit their interests and schedules.
Another significant untapped benefit we helped TCS recognize is opportunities for employee recognition and retention — TCS can now easily distribute tickets to specific employees.
More recently, we helped TCS create new policies and procedures for better utilizing its tickets internally, reducing the need to find buyers for unneeded tickets.
BENEFITS:
• $60K of almost immediate income
• Improved internal ticket utilization
• Enhanced business development
• New employee retention strategy
Ticketnology is more than simply a web-based tech platform for event ticket management.
We offer additional event ticket services such as Ticket Fund. Ticket Fund allows clients to set up a prepaid account that fits into their budget, eliminating surprise expenses. When event tickets become available for purchase, our team of industry insiders can immediately use the funds to procure tickets to the most coveted events. We also offer group and suite ticket concierge services to help clients plan unparalleled VIP experiences, including in-demand event tickets, transportation, personalized gifts, food and beverage catering and pre-event guest communication such as directions, parking, etc.
ABOUT TICKETNOLOGY
We are a boutique firm committed to providing outstanding, personalized customer service to help our clients navigate the complex, sometimes frustrating world of live event ticketing — for both attendees and businesses. Morgan Katz, Founder & CEO of Ticketnology, recognized a lack of transparency in the corporate event ticketing industry, which often led to missed opportunities and benefits for clients. Drawing from her extensive experience in senior-level roles at various live event-centered companies, Morgan set out to revolutionize the industry with a more customer-centric, transparent approach — one that balanced customer satisfaction with revenue targets. Morgan launched Event Finders USA in January 2019. Her vision was to create an event ticketing service that put people first, and her values quickly became the foundation for the company’s success.
In 2023, Event Finders USA rebranded to Ticketnology, a name that reflects the team’s extensive knowledge and advanced technology behind ticket advising.
See a video demo here: https://www.loom.com/share/206aa67bf64447999f2922feaf43d7a2
