Achieve maximum revenue by curating prices to patron loyalty and demand
From the viewpoint of a patron or visitor, the choice of program, admission time,
seat or series is an expression of what they value and actively choose to invest in. In
arts consumer terms, that’s the essence of demand. It can be measured, studied, and
developed into a successful pricing strategy. The patron gets what their heart desires at a
price they are willing to pay. Your organization earns the maximum revenue possible on
every transaction. This kind of win-win pricing strategy is just what a TRG Pricing Sprint is designed to deliver for your next season or series of programs.
TRG’s Pricing Sprint is customized to your data and circumstances and designed to take the guesswork out of pricing decisions. It puts to work in your organization the proven strategies that have fueled TRG client successes for two decades. You’ll have at your side consulting expertise from the firm that pioneered demand management principles and tactics like dynamic pricing–now updated for greater success and easier implementation.
The Pricing Sprint gets you ready to implement immediately. Your Pricing Sprint action plan will be tailored to your operations, built to fortify your expertise, and able to honor all that your patrons value while optimizing your earned revenues.
Executive, marketing and sales office executives who want to start now to:
- Tie down a successful strategy for an upcoming season or series or programs.
- Right-size prices that may be too high or too low
- Turn around the appearance of poor attendance
- Get expert professional development that gets results and boosts in-house capabilities
- Refresh potentially outdated scale-of-house plans, pricing, and inventory strategies
- Deploy new, updated dynamic pricing techniques
- Seize every opportunity to price for high demand events and occasions
- Find revenue increases from ticket, admission, or subscription sales.
How it Works
TRG’s Pricing Sprint is a collaboration between you and TRG’s expert consulting
team that occurs well before your new season launch or on-sale date. We work together over a six - to eight-week period that starts with planning and culminates in a one and a half day intensive session in our Colorado Springs offices.
First, you’ll collect reports and data from your system, and we’ll guide you step-by-step through this important information-gathering phase. Once your information is checked and on-boarded at TRG, our team prepares analysis that discovers where opportunities exist and challenges need to be overcome. Then, we meet in an intensive workshop setting.
We’ll bring to our work session your custom version of TRG’s signature demand analysis
and findings that will inform scale-of-house (or, scale by day part for museums), price and
inventory framework, and price point recommendations. We’ll work beside you to
finalize a best practice plan that’s best suited to your organization. You take home detailed
plans, information and tools we developed together so that you can achieve internal buy-in
and roll-out your pricing strategy masterfully.
The Bottom Line
An investment now in a TRG Pricing Sprint pays off in several ways:
- You get a data-informed understanding and foundational plan to increase revenue whenever and wherever patron demand exists.
- You have facts to support critical communications and strategic pricing decisions including those dealing with institutional preference or local pressures for setting actual price points.
- You receive tools and counsel that all colleague departments can follow to optimize revenue and help your events look and feel desirable to all who attend – even when attendance is low.
- You gain mastery of an arts management skill set that remains the single best way to generate organizational revenue from patrons who value what you do.