If you read the recent WSJ article about college football attendance, you saw that for the fourth consecutive year, the sport saw a sharp decline of fans in stands. A 3.2% drop just last season and a 7.6% decline over the past four years. Alarming, to say the least.
What you may not have read though is the comment section of the article, which was full of comments like:
Some fans that left a comment are the type that, no matter what effort is made to get them to the game, aren’t going to show up. The other fans that left feedback appeared to go to games and made mention of the rising cost of attending these events.
We’ve seen fan-friendly pricing take hold at the concession stand, which is a great step in the right direction. But what about ticket prices? Are we truly considering the average fan when pricing our tickets?
It begs the question: How much is too much? What should face value of our tickets be? Could we be charging more?
The answer to that question can be found in research and data analytics. It’s a matter of looking at historical sales data, surveying ticket holders and former ticket holders, analyzing census data to see what people in your area can afford, and looking very closely at secondary market data to see what the true market value of your tickets is. You might be charging way too much. Or, you might be leaving money on the table.
The information is out there and accessible, you just need the strategy to obtain it and use it effectively.