Event Discounts & Promotions: A Look Into How They Benefit You, Your Fans, And Your Sponsors

 With festival season upon us, sponsors are looking for more than just the promise of impressions. The challenge is to provide fans with an exceptional experience while guaranteeing sponsorship visibility. This is where our promotion and discount features come into play. In this post, we answer the most asked questions about promotions, how they impact fans' spending, and how you can involve your sponsor.

To start, the goal of having discounts and promotions is to enhance three specific categories:

1.       Fan spending

2.       Brand visibility

3.       Increased product purchases & usage

What are the most common types of promotions?

• Dynamic Discounts: based on ticket type, card, bank, or external sponsor
• One-Time Activation: a single-use discount/flat dollar amount upon completion of registering for a specific activity, a wristband with their payment, etc.
• Minimum Transaction Threshold Discounts: $5 off $25 or higher transactions for example, the minimum value threshold and discount off are both customizable
• Item Specific Discounts: Fans buy specific items and get one free, or get a discount just on that specific item
• Vouchers/Tokens: used as a way to determine who you want to have the discounts by putting them on physical tickets, cards, tokens, etc., having whatever values you choose

What are the most popular promotions at events?

• Wristband Activations with $10 off any transaction if completed and use that as your form of payment

• $10 discount off $50 or more for a single merchandise transaction for specific payment methods

• Offering $5 off $30 or more on all transactions for specific payment methods or ticket type

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 All three of these promotions have shown benefits to the sponsors and show fans have higher per-day spend. These are overall averages with fan spending ranging, one promotion we can't say is better than another but we can say they have all shown benefits to the event, fans, and sponsors thus far.

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Does Fan Spending Change Based On The Promotion?

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Yes, but all in a positive manner. Multi-use, minimum transaction discounts and one-time $10 off $50 or more show to have the highest return on investment with the largest increase in fan spending.

One thing to note about one-time use is that a one-time value below $10 has little impact on fan spending.

One-time use also shows higher fan spend but it depends on the discount. Values below $10 showed little difference in the overall average fan spend compared to fans who were given $10 or more.

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Do fans spend more money with discounts?

On average, yes. In 2023, ⅔ of fans spent more than the discount applied in a single transaction. 

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Which discount is right for you and your sponsors

There isn’t a one-size-fits-all answer. Discounts that work well for your fans and events may vary, and it is important to consider your sponsors to determine the right promotion. Our product's unique feature is a customizable tile in the point of sale display. This displays custom messaging to fans, providing the reason behind the promotion, be it for a sponsor or to boost brand engagement.

If you have any upcoming events or sponsors that you would like to promote and don't know what would be best for you, contact us. We can help determine the right customized discount or promotion to benefit you, your sponsors, and your event attendees.

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