Hear what FutureTix, Penn State, MGM Grand Hotel & Casino and SeatCycle had to say!
JANUARY 30, 2020 | SELDEN, NY
Written By: Kelly Brennan, FutureTix / TriTix
Recently at the 2020 INTIX Conference, industry experts, including several TriTix Members, converged on Thursday, January 24 at the Midtown Hilton in NYC to speak on a panel called No Shows: a problem… or an OPPORTUNITY? to share their thoughts regarding No Shows and how the right analytics tool and best practices can help not only prevent them, but also generate new sales, increase revenue and boost customer satisfaction.
Dan DeMato, President of FutureTix and active TriTix Member, moderated the panel. Additional expert panelists included: Carrie Farina, Entertainment Manager Showrooms & Ticketing for MGM Grand Hotel & Casino (LVRTA Member), Tracy Noll, Director of Sales & Development Services at Penn State University, and Shedrick Taylor, Vice President Ticket Products with SeatCycle (TriTix Member & Sponsor).
After introducing himself and the other panelists, Dan DeMato kicked off the session by defining No Shows as “a ticketed seat without a fanny in it” as well as providing statistics regarding how No Shows are a common problem that EVERY venue, regardless of what vertical or type, face today. He stated that venues have a No Show rate that ranges greatly between 1 – 40%, with the average rate at about 15% of tickets sold.
“There are a multitude of reasons No Shows exists… Life gets in the way, bad weather interferes, plans change and people who anticipated attending simply no longer can.” Said Dan DeMato, President of FutureTix. “However, for others, especially those that purchase packages with various tickets to multiple events, such as subscribers, season ticket holders, members or donors, many times the patron never intends to be present at all the events.” He went on to say that, “regardless of the reason why, it’s important for organizations to realize that there are solutions out there to help combat this problem.”
Throughout the rest of the session, the panelists took turns explaining how No Shows impact their organization as well as shared successful best practices, ways to use functionality inherent within their ticketing platform and other third-party products and services, such as SeatCycle, to assist with No Show prevention.
Toward the end of the discussion, Shedrick Taylor, took control of the presentation explaining how their new product, SeatCycle, can help venues take a proactive approach to solve this very common problem. In short, he explained that SeatCycle can analyze your past data and identify patrons most likely to result in a No Show, as well as provide functionality that can allow patrons to ‘raise their hand’ to identify themselves if they are no longer able to attend so that venues can proactively communicate and offer solutions to those patrons. Furthermore, it has several solutions in place to allow the venue to easily resell or re-purpose that ticket.
To learn more about No Shows, click on the links to download the presentation deck from this session or to read a recent INTIX article written by SeatCycle and FutureTix regarding No Shows:
DOWNLOAD SESSION PRESENTATION DECK
READ INTIX ARTICLE: ‘5 Ways to Monetize the No-Show Problem’
QUESTIONS OR COMMENTS
If you have any questions about this article or the presentation, please use the contact information below and someone from FutureTix will provide you with answers or connect you with the appropriate panelist from this session:
PO Box 1634, Selden, NY 11784
SeatCycle – With SeatCycle's proprietary no show prediction engine, venues and organizations can accurately estimate the number of empty seats for a given event. Life happens and people don't show up - be prepared and utilize the venue’s full capacity!
Contact: Shedrick Taylor, VP Ticket Products | email@example.com
FutureTix – FutureTix provides consulting on ticketing practices and technologies for arenas, sports teams, universities, cultural institutions, and other attractions. Leveraging our years of ticketing industry experience and our proprietary analytical tools, we deliver strategic insight to our clients and drive smarter, more effective ticketing practices.
www.FutureTix.com | firstname.lastname@example.org | 516-608-0626
TriTix Regional Ticketing Group – Tri-Tix is a regional based group that consists of ticketing (and related) professionals that live or work in the Tri-State area, including but not limited to New York, New Jersey, Connecticut and the surrounding areas. The purpose of the group is to provide local professionals with an opportunity to network with industry peers, discuss the latest trends in the dynamic world of ticketing and share knowledge and best practices.
www.tritixregional.com | email@example.com
INTIX – The INTIX Annual Conference & Exhibition is for anyone directly or indirectly involved in ticketing the arts, professional sports, college athletics, arenas, fairs and festivals, ticket distribution, and entertainment management. Major suppliers are represented at the exhibition. Organizations and vendors alike use the conference to network with established colleagues and make valuable new connections.
www.INTIX.org | firstname.lastname@example.org