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The Benefits of Outsourcing Your Corporate Hospitality Ticket Management

The Benefits of Outsourcing Your Corporate Hospitality Ticket Management

Companies purchase tickets for sports and entertainment as an arm of their corporate hospitality initiatives—inviting valuable customers, leads, and employees to marquee events to show that they value those relationships and to build upon new ones. It’s an avenue for increasing engagement, brand loyalty, and opportunities for company growth. With the purchase of these tickets comes the need to manage them effectively. 

If you’re managing your organization’s ticketed assets as part of your hospitality program, you don’t need us to tell you that utilizing them at the highest level is a full-time job. Ticketed asset management requires actionable communication to ensure the tickets get used by the appropriate stakeholders, organized record-keeping to stay in line with compliance, and data tracking to prove your utilization is as effective as it can be toward your bottom line. 

Utilizing your event tickets as efficiently as possible while getting the most value in return sounds ideal, but it can be hard to accomplish when that task is just another item on your already-full plate. 

That’s where we come in. 

Hiring an outsourced ticket management expert ensures best practices for everything from use optimization to compliance and reporting. Think of it as insurance on your investment, helping you to exceed industry standards and increase your ROI on tickets. 

The True Value of Ticket Management

 

Providing stakeholders access to events has an assumed value in relationship building, acquiring new leads, and ultimately helping you achieve your business KPIs. In addition to that assumed value, each ticket purchased or obtained through sponsorship has a face value—literal dollars—that, if left unused, is essentially throwing those invested dollars in the trash, leaving no opportunity to see the returns work for your bottom line. 

Consider a hospitality program that includes 5,000 tickets across a handful of venues with an average face value of $100/per ticket. Simple math tells us that is $500,000 of value in tickets. Industry-average utilization rates of company-owned assets hover around 80%, meaning $100,000 in assets get left unused. Combine that with the loss of opportunity to build relationships with key stakeholders in your business, and you can see how impactful the utilization of each ticket becomes.

Now imagine that same company partnered with Best.Day.Ever. where ticket management is a proactive process. We take the time to understand our client’s industry, products, and specific goals to ensure the right stakeholders are provided the opportunity to secure their tickets. We become a true partner for your organization, building relationships with everyone from sales representatives to executives to create a network of individuals to go to when the time comes for ticket fulfillment. Our thorough process and extensive network allow us to provide a 99% utilization rate standard.

At that rate, the value of your investment and the opportunity to grow your business dramatically increases. Our partnership also provides precise measurements that assign a dollar value to each ticket utilization and reports on actual returns earned from that specific stakeholder attending your event. The gains are undeniable, and you’ll only see your ticket ROI grow with that type of commitment to your asset management. 

“A single ticket to a sporting event carries a considerable amount of weight. It could be the reason an industry-altering deal gets through the finish line or the recharge a struggling employee needs to increase performance. It’s critical no ticket goes to waste.” – Jeremy Kochman, Manager of Operations at Best.Day.Ever.

BDE managed over 20,000 tickets for our partners in 2021, utilizing leading ticket management software, TicketManager, TicketOS, and ConciergeLive. Our experience and  individual attention to each ticket assignment ensured delivery to the most valuable stakeholders to meet each client’s unique event KPIs. We’re ready to do the same for your company. If you’re looking to increase your ticket utilization, insure your investment and save time, let’s talk before your next event.

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