Music Festival Package Deals Can Increase Revenue.

For any music festival that takes place in a remote location attracting festival-goers with a one stop package deal that includes transport, and accommodation can increase audience reach. These deals make the festival more accessible to more people but there are more reasons why these deals have an incremental impact on overall festival revenue.

When festival-goers are looking at potential festivals to attend a key consideration is the overall costs and convenience of attending. The perceived cost of tickets is high despite the great overall value for money that attendees get. This has led to a trend of potential ticket buyers delaying their buying decision until closer to the event dates and organisers have countered this challenge by employing a variety or early bird and limited volume sales tactics. Ticket buyers are also considering other costs associated with attending a festival which when added up can be considerable, however, when organisers create a bundled package deal potential ticket buyers will save overall. 

Increasing Audience Reach. 
Potential festival-goers will always consider a festival location in their decision making process, if it’s reasonably local they can select a day attendance option and go home after each day. A multi-day event that is some distance away will require organising transport and overnight accommodation which can dissuade some potential ticket buyers. A packaged deal that includes transport and accommodation can make the whole experience more convenient ultimately making the decision process simpler. An increase in multi-day attendance will increase sales of optional extras as well as on-site purchases like merchandise, food and beverages for example. Satisfaction levels should be higher which will increase loyalty and repeat purchase for future events. 

Revenue Timing. 
Many organisers create bundled package deals that can be customised to suit festival-goer preferences. These are often launched months before the event dates and can include a variety of discounted incentives for early bird purchase. This tactic enables organisers to generate much needed revenue and cash flow well in advance of the event. Deals are popular with festival-goers because they make the whole booking process simpler and worry free. Popular options used by organisers to reduce the purchase costs are payment plans and deposit arrangements that mean ticket buyers can spread the cost over a number of months. 

Higher Overall Spend. 
Organisers can add incentives and upgrade options to package deals after an initial purchase to produce incremental revenue. A discounted upgrade option to a VIP package with improved accommodation and merchandise freebies can be a great way to increase revenue from a festival-goer already committed to the event. Other popular extras that can be up sold may include backstage access, site tours and luxury bathroom facilities for example. 

Economies of Scale and Reduced Costs. 
If organisers can partner with sponsors and other organisations involved with the event there is potential to offer sponsor funded incentives to promote up-sales opportunities. In addition, booking bulk volumes for accommodation with local hotels and transport companies can enable organisers to gain favourable discounted rates. Organisers may choose to pass on some or all of these savings to package deal buyers. 

Packaged bundled deals provide organisers with numerous options to reach a wider audience whilst increasing earlier revenue generation at the same time. Package deal buyers can be upsold additional services increasing sales and margins. Multi-day attendees are more likely to get locked into attendance and will spend more on site once there. 

For festival organisers planning their next events using a software management platform like Festival Pro gives them all the functionality they need manage every aspect of their event logistics. The guys who are responsible for this software have been in the front line of event management for many years and the features are built from that experience and are performance artists themselves. The Festival Pro platform is easy to use and has comprehensive features with specific modules for managing artists, contractors, venues/stages, vendors, volunteers, sponsors, guestlists, ticketing, cashless payments and contactless ordering.

Image by StockSnap via Pixabay

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