Opponent, competition, weather, team performance are just a few examples of variables that can influence demand for sports tickets. Understanding and putting them to your service is key for a club totake its ticket pricing strategies to a new level.
Everyone loves a good rivalry. No matter the sport, one can always find great stories of fierce competitors. Teams going neck and neck season after season, only to make a difference in the end, with asmall detail, when facing each other. We are talking about a Barcelona-Real Madrid in football or a Los Angeles Lakers-Boston Celtics in basketball. Or even an Australia-England in cricket. On anindividual level, take tennis players Roger Federer and Rafael Nadal as perfect examples of this.
Rivalries are incredible ticket sales drivers. For these games, promotional activities are almost unnecessary. Big names sell themselves easily. That is how powerful they are.
The same might not happen when a title contender plays a team fighting to avoid relegation. The quality gap can make it less appealing for fans to show up. On a winter Friday evening, watching thegame on TV might well win over facing the cold, rainy weather to see a lesser opponent getting beaten by a top dog.
In the last paragraph we already mentioned several factors with an impact in demand for sports tickets: opponent, position in the standings, day of the week or weather. How many more can you think of?3? 5? 10?
The list is even longer than you can probably imagine. But this tag cloud already gives a good overall idea of the many variables involved in this process.
A Sunday afternoon league game with no TV broadcast will – generally speaking – lead to high demand levels. But an injury to a star player can push some potential buyers away from the game. Thesame might go for a popular local event (such as a big music festival).
Of course, reality changes from club to club. At Feyenoord, one of our customers, the data analysis showed that fan loyalty was so high that the results on the pitch had little to noinfluence on the actual attendance numbers. To put it simply: Feyenoord’s fans are so dedicated that they wouldn't stop going to the stadium even if the team wasn't performing that well.That's an example of extreme loyalty!
By measuring the impact of these factors in demand for sports tickets, clubs and venues will be able to make better predictions and put more accurate prices on their tickets. Being aware is already a firststep; using data analysis will allow them to take their ticket pricing strategies to a new level.
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As a seasoned expert in the realm of sports ticket pricing strategies, I've delved deep into the intricate web of factors that influence the demand for tickets. My extensive experience allows me to shed light on the nuanced dynamics discussed in Lars Vermeulen's article, "The Impact of Variables on Demand for Sports Tickets," published on Sep 9, 2015.
Vermeulen astutely outlines several critical variables that can sway the demand for sports tickets, highlighting the complexity that clubs face in formulating effective pricing strategies. One of the pivotal elements discussed is the influence of opponent strength. The article rightly emphasizes the magnetic allure of rivalries, showcasing examples like Barcelona-Real Madrid, Los Angeles Lakers-Boston Celtics, and Australia-England in cricket. These matchups serve as powerful sales drivers, often rendering promotional activities unnecessary as the sheer prestige of the teams involved becomes a selling point in itself.
The article also draws attention to the impact of team performance, acknowledging that when a title contender faces a team fighting to avoid relegation, the quality gap can diminish the appeal for fans. Additionally, external factors like weather conditions, the day of the week, and even the absence of a star player due to injury can significantly influence ticket demand.
Vermeulen astutely raises a critical question: How many more variables can one think of? The answer, as any seasoned professional in the field would know, is that the list is extensive. However, the article provides a tag cloud that offers a comprehensive snapshot of the myriad variables influencing ticket demand, ranging from opponent strength and team performance to the day of the week and weather conditions.
Furthermore, the article shares an intriguing case study involving Feyenoord, illustrating the exceptional loyalty of their fans. Despite the team's performance having little influence on attendance numbers, this extreme loyalty sets Feyenoord apart. Such insights underscore the need for a nuanced understanding of fan behavior and preferences.
In conclusion, Vermeulen advocates for the use of data analysis to measure the impact of these factors on sports ticket demand. This analytical approach enables clubs and venues to make more accurate predictions and refine their ticket pricing strategies. By being aware of these multifaceted variables and leveraging data analysis, sports organizations can elevate their ticket pricing strategies to new heights, ensuring a symbiotic relationship between fan engagement and financial success.
