One of the most popular trends at music events, especially at festivals, is the availability of a VIP offering. This allows fans who are more financially secure to access lounge areas and priority queues, and to benefit from other exclusive premium benefits. What’s more, it enables concert and festival organisers to be flexible and innovative in terms of pricing.
At first glance, this seems easy to implement: fans will be prepared to spend more to benefit from a high-end experience, and organisers will reap the financial benefits.
In reality, however, selling VIP tickets is easier said than done. These four areas for reflection will help you implement a VIP offering that gives your audience that little something extra they’re looking for, while maintaining the quality of your most loyal fans’ experience as well as your brand image.
- Understand your audience’s perspective
- Set prices through experimentation
- Offer attractive benefits
- Be creative and adaptive
Music is an art for everyone — or which at least tries to be. It is therefore essential that you consider the nature of your concert hall or festival when you implement a VIP ticket offering. Sadly, there is no miracle solution that suits all organisers — the VIP ticket offering for a historic 600-seat hall will be vastly different to that of an 8,000-seat arena.
In this context, it is important for organisers to gauge and measure their audiences’ perception of ticket prices and the related benefits. Devising a VIP offering must delight the individuals targeted while not offending the most loyal attendees. Ensure that you do not downgrade the experience enjoyed by your broader audience, regardless of the value added to your VIP service. The broader audience must not feel that they have been abandoned or that they have received unfavourable treatment. Request their feedback and listen to their suggestions. How they view your offering is key, so doing everything you can to ensure that they are always satisfied will guarantee your organisation’s continued success.
Determining ticket prices is an art, not a science. Generally, structuring a VIP offering is a highly flexible process, and prices can vary between 1.5 and 2 times the price of a regular ticket. With this in mind, the additional price must reflect a real added service for the spectator while also bringing in more profit for the organiser.
It is possible to test several variants of VIP tickets if you are organising a series of events. This will give you an idea of what pleases your fans, and what they are willing to pay for your event.
Two of the most attractive VIP benefits for ticket buyers are opportunities to meet artists and access to spaces exclusively reserved for VIPs. However, the set-up of the location and the arrangements for scheduled artists can make these benefits difficult to implement.
If offering spaces reserved for VIPs doesn’t suit your type of event or your location, try to think of benefits that will make the on-site experience more convenient, smooth and enjoyable. Dedicated parking spaces, an exclusive bar and a private cloakroom are all sure-fire ways to help your VIP tickets sell. Think of all the little trade-offs you’re asking of your broader audience, and then find related solutions involving an additional price for your VIP attendees.
Be creative and play with benefits and prices. Don’t be afraid to try out different VIP options. One possibility is to start with a ‘VIP light’ option which includes queue-jump access and an exclusive bar for an additional 20% of the regular price, and then develop your offering with a ‘VIP plus’ option which adds a meeting with the artists and an open bar for the regular price plus 60%.
Most importantly, ensure the process is adaptive. Add, remove and change the benefits offered depending on the events that are organised. Change their prices, quantities and availability. This will allow you to gauge what’s popular and what doesn’t work at all. No one has yet dictated ‘the rules of VIP offerings’, so it’s up to you to decide!
Take advantage of the trend towards VIP offerings to reinvent your music events and increase your revenue. Concerts, evening events and festivals are all being influenced by this growing tendency.
In order to set the prices for your VIP offering and organise everything that will make your music events a success — an online ticketing service, access control, cashless payment and CRM — discover all of our solutions and their features by clicking on the button below: