Category Archive : Event Marketing

How Blockchain Technology Will Revolutionise the Event Ticketing Industry

How Blockchain Technology Will Revolutionise the Event Ticketing Industry

Have you ever been cheated into buying expired tickets or paying more while buying your ticket?

If you have, then you are among many who have been in this situation. Reports of scalping have been published on news outlets like the daily mail where a man sold fake tickets to Ed Sheeran’s Brisbane concert. Eagle fans bought scalped ticket to watch the final game against Melbourne but were refused entry. In spite of the war declared on scalpers by Senator Nick Xenophon, Australians are still falling victim to ticket fraudulence.

These incidents made the event ticketing industry consider if the blockchain technology can be of any use here. Before jumping to how the blockchain technology revolutionises the event ticketing industry, let’s quickly describe what the blockchain technology is.

What is Blockchain Technology?

If you are familiar with BitCoin cryptocurrency, then you may have already come across the term blockchain. It is the technology that secures your online transaction. It works by creating a chain of blocks, and each block records the data. Each block is connected to the previous and the next block. Thus a network is established distributing and storing itself in thousands of different computers. These blocks hold the transaction records permanently, and restrict the modification of data.

Now let’s check out the role blockchain can play in the event ticketing industry –

From a Customer Perspective

Customers suffer the most due to system loopholes in the event ticketing industry. If blockchain can resolve these issues, that will be most welcomed and accepted by all.

Help Keep the Ticket Price Down

A scalper takes the opportunity of the limited number of tickets and increases the price and puts them for resale. According to a report by abc.net, tickets for Justin Bieber’s concert were put on sale on TM+ for $2,555, which was 374% of the original value.

With blockchain, organisers now can choose if the ticket can be resold and set a limit on the price. Controlling the maximum and minimum price cap ensures that the ticket cost is kept down. Using blockchain for ticketing, an organiser can also add parameters so that if a resale rule is broken, then the ticket becomes invalid. So, customers will always get valid tickets at the right price.

Save from Being Defrauded

Scammers have been making fake tickets ripping people off their hard earned cash. In Melbourne music festival, a fraudster sold 149 fake tickets and conned more than $26,000.

Introducing blockchain ticketing system can save customers from being defrauded as you can identify and track your tickets. With each ticket being given a separate and unique identification number, it cannot be replicated. Customers can be protected from ticket frauds by hiding the barcode until a definite time or until the holder reaches nearby the venue.

Fully Transparent

Customers always prefer a transparent system. Each ticket stored within a block has a unique identifier through which it can be tracked over each transaction. Throughout the journey from the primary seller to the secondary seller to reaching the fans, a buyer will have access to the complete transaction history. Thus, blockchain will be able to revolutionise your level of transparency in the event ticketing industry.

Authenticity and Validity: Record and Track Ticket Sale

Going to an event, are you being told that you have got fake tickets? With blockchain, you can check out the validity and authenticity of tickets in real-time.

Each ticket has its identifier, and the block keeps a record and tracks the transactions ensuring that buyers get correct and verified information about the ticket’s status.

From Organisers Perspective

Touts and bots are buying all ticket available online and reselling them at exorbitant prices. As a result, many customers are unable to afford such a high cost and lose their trust in the organiser. As such, organisers are losing both profit and valuable customers.

More Secured and Breach Resistant

Blockchain keeps on storing new data as it advances through the network. It is virtually impossible to change, add or remove any data without being noticed by other users.

Each transaction made is time-stamped and sequential, making any duplicate entries impossible. Blockchain security uses a hash function which is a set of unique string which latches onto the next block keeping its trace in the new hash. You can also make smartphone bound tickets display a code which changes every minute, thereby invalidating the previous one. It helps in preventing unregulated sell in the secondary market.

Build Trust

Consumers have lost their trust in organisers having no guarantee that the ticket they bought is genuine. With so many variables, the whole sector has become untrustworthy.

This is where blockchain brings revolution by building a platform of trust among multiple parties without having an intermediary. Similar to what blockchain did with bitcoin by solving the double spending issue, the same could be done for the ticketing industry. This cryptographic framework is soon going to be known to all as the new “trust protocol”.

Stop Bots and Scalpers

Remember the time you were eagerly waiting to buy a ticket, but the moment it started all the ticket were sold out. The main culprit behind this is bots and day by day it is becoming increasingly difficult to buy tickets online.

According to the Economist, bots are responsible for syndicating 60% of the hottest online tickets. Using blockchain technology provides a unique identity, which is the key to stopping bots from buying tickets.

Management Made Easier

To hold onto valuable customers, you need a management system which can track and control the entire event ticketing process. With blockchain technology, you as an organiser, can follow the transaction and quickly identify the owner of the tickets. Controlling the resale and limiting the price furthers your control over the sale of tickets. You can even classify the resellers.

As all records are stored, you can gather data and analyse them to make your next event more successful. Also, you can easily integrate your system with other third parties or infrastructures.

As organisers are thinking more into long term solution and answers that could bring tangible and real benefits to buyers, blockchain for event ticketing is turning out to be a natural choice. It is revolutionising the ticketing industry by fighting against all the constraints that are holding it back.

This article is written by our guest author Rebekah Muir. She is a marketing analyst at EventBookings Pty Ltd. She is an expert in the event management industry with a vast knowledge of event organising, event marketing and event promotion.
event marketing ideas

Creative Event Marketing Ideas to Maximize Ticket Sales

Parties and events are moments we always look forward to, we put in a lot of effort to make things work perfectly on that big day and make sure everything is set. But what happens when you don’t get the huge turnout as expected? This will be devastating because a lot has been put to waste.

Do you wish to achieve the expected turnout for your upcoming events? Then you need to find a way to boost ticket sales for your event and one of the best ways to achieve this is to have series of event marketing ideas and know-how to make use of social media which presently seems to be the most effective marketing tool. 

To help with that, right here we will be sharing event marketing ideas that will give you that desired turnout on your big day and make it as elaborate as you imagined it to be.

Make Use Of Instagram Stories

If you want to boost ticket sales for your event, then you need to find a way to get personal with the Instagram stories you share. Instagram has been a social media platform with over a billion active users, you get to boost your ticket sales as much as you want.

The most amusing thing about this platform again is that about 50% of its users get to view business accounts regularly. This simply means that you not only be able to boost ticket sales for your event by attracting new people but also be able to keep attendees updated.

Take Advantage Of Highly Engaging Videos

Amidst all the event marketing ideas that we will be sharing, you can’t afford to neglect this particular idea. According to a recent study, 92% of shoppers in the United States tend to believe what they see and hear in videos than engaging content online and this plays a significant role in their decision-making process.

Having discovered this side of your potential attendees’ point of view, then you need to find a way to create highly engaging videos that will explain in detail what they stand to gain by attending your event.

Integrate A Referral Program

People tend to put more effort into things that give them incentives. This is the normal behavior of man of which you can take advantage of when it comes to boosting the ticket sales of your events. By having a referral program in place which gives them a little incentive, people will promote your event by telling their friends, family, the people around them. This incentive can be in the form of an extra ticket to the event.

Bringing Brands and Influencers Into the Picture

Finding a way to bring brands and influencers into the picture will not only help boost ticket sales for your event but also help convince more people to come to be a part of the event. People are always encouraged to attend an event when they know a highly rated brand is involved or an influencer will be in attendance. The good collaboration will help add more validity to your event. Thereby boosting ticket sales.

Proving Your Capabilities By showing Previous Events

When it comes to attending events, attendees always want an assurance that they will be getting value in return for the money paid for the ticket. The best way to give them this assurance is by showing off your previous events.  You can do this by keeping your social media account feeds updated with engaging pictures and videos of your previous events.

Collaborate with Local Business

Creating a collaborative relationship with local cafes, bars, and restaurants within the community can attract more attendees. The availability of local foods and merchandise throughout an event can make people interested in the event. They are very likely to come and experience everything and share photos while enjoying the event, promoting not only the event but also the local business.

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Hold a Contest During Your Event

Holding an exciting contest in your event for VIP tickets can generate a boost to your ticket sales. Also, the contest can give the attendees a chance to win big prizes. This may create a lucrative attraction to the people to buy tickets and join your event.

Offer Free/Discounted Transportation to the Attendees

Offering free or discounted transportation for your attendees to the event venue is another great idea to attract more people to join your event.

Transportation is always a huge factor for the people for making the decision to join any event. Offering free or discounted transportation is a great ticket selling point to encourage your attendees to buy tickets and join your event.

Use Technology

Using technology like virtual or augmented reality is a great idea to engage people throughout an event. Having a tec-based theme for your event can attract lots of technology lovers and encourage them to buy tickets for your event.

Host Event for the Local Communities

Hosting an event that benefits and supports local communities can attract local audiences to your event. An event to help out local charity and business can motivate people to buy tickets and join your event.

Having shared these creative event marketing ideas to help maximize ticket sales, by now you should have a clear picture of how to boost your event ticket sales for your upcoming events and become an event manager that everyone admires.