65% one-year increase in new subscription revenue
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Exterior of the Loretto-Hilton Center,
The Rep’s primary performing venue. |
Repertory Theatre of St. Louis had experienced ups and downs in subscription sales. By 2012, overall subscriptions had been decreasing by 3-8% almost every year since 2008, despite a strong renewal rate.
The underlying problem seemed to be attracting new subscribers. Initial analysis by TRG Arts suggested that, long term, The Rep needed to grow the number of prospects for subscription in their database. TRG also discovered that The Rep likely hadn’t been spending enough on subscription acquisitions. Spending on marketing new subscriptions acquisitions had remained flat, despite the declines in subscription acquisitions.
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The Wall Street Journal didn't tell the whole story
Terry Teachout, the drama critic at The Wall Street Journal, suggested a few weeks ago a correlation between regional theater’s “play-it-safe” programming strategies and the collapse of the American theater subscription.
He wrote: “(T)here seems little doubt that the [subscription] model itself is going bust.” Citing Theatre Facts 2011, Theatre Communications Group’s (TCG) annual study of industry financial and business trends, he noted, “nationwide revenues from subscribers plunged 18% between 2007 and 2011.”
That’s just one number, but it’s not the whole story.
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Is your organization’s pricing strategy focused only on the cost of admission? Developed in just one department? This 90-minute workshop, presented at the Arts Reach Canada Conference in May 2013, was designed to show leadership teams how much more there is to consider and to gain. High-impact pricing generates positive perception, improved patron loyalty, and greater revenue for every admission or seat sold.
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This session, presented at the 2013 AAM conference in Baltimore, explored an established enterprise model—loyalty through customer relationship management—and reimagine it for our museums. Designed to provoke thought-leadership for museum CEOs, COOs, department heads, as well as across functional areas, this presentation will spotlight practical steps for increasing museum loyalty and reaping the results. Presenters included: Jill Robinson, Suzette Sherman, and Heather Calvin, Associate Vice President, Visitor Services and Membership at Boston's Museum of Science.
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