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85 - Pricing Mini-Plans The RIGHT Way
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In this episode of the Sports Marketing Machine podcast, Jeremy Neisser discusses the intricacies of mini-plan pricing for sports teams. He emphasizes the importance of analyzing ticket buyer data to set effective pricing strategies.
By using a specific formula, he illustrates how teams can avoid underpricing their mini-plans and maximize revenue. The conversation covers the trade-offs involved in pricing decisions and the need to maintain a balance between affordability for fans and profitability for teams.
Takeaways
- Mini plans are crucial for increasing ticket sales.
- Analyzing past buyer data helps in setting prices.
- Teams often undercut themselves with pricing.
- Understanding fan behavior is key to pricing strategies.
- Calculating revenue trade-offs is essential for profitability.
- Aiming for a 50% revenue gain is ideal.
- Blended averages provide a realistic pricing perspective.
- Pricing should reflect the value perceived by fans.
- Teams need to be cautious of losing money on plans.
- Effective pricing can lead to increased fan engagement.
Chapters
00:00 - Introduction to Mini Plan Pricing
02:57 - Analyzing Ticket Buyer Data
06:09 - Understanding Pricing Strategies
09:01 - Calculating Revenue Trade-offs
11:51 - Final Thoughts on Mini Plans
YouTube video demonstrating how the formula
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