One of the most stressful parts of creating an event is worrying about ticket sales. Having powered thousands of events, we have some solid data around this. Watch Tim discuss when and how many tickets will sell in the weeks leading up to your event.
When Do Event Ticket Sales Happen
If you’ve held your event before, or if you’ve got a guy like Len who is really good at predicting things, you probably have a good idea when your tickets will sell. But for the rest of us, how many you’ll sell and WHEN they will sell is a pretty big unknown. We have a lot of ticket sales data from powering thousands of events. So, we put as many tickets as we could fit into Excel to try to shed some light. I’ve got good news and bad news. The good news is there’s a pretty reliable pattern for when tickets are sold for an event. The bad news is it comes with a fair amount of stress.
OK, the grand reveal: half of your sales don’t come until the week of the event, and I can speak from personal experience: that’s pretty stressful! We tried to slice and dice this data to see if ALL types of events share a similar pattern and it turns out most of them do. Here are some interesting sub-stats:
People plan more for the weekends and procrastinate during the week. For weekend events only 40% wait until the last 3 days to buy their ticket. For weekday events, it’s 49%. Morning weekday events are the worst for procrastination: 62% of ticket buyers wait until the last 3 days. For events held right after work we tend to plan more. Only 40% wait until the final 3 days to get their ticket. When during the day do people buy their ticket? When they’re at work. 10AM is the most popular time to buy a ticket, but sales stay strong until 4PM.
So, what does this all mean? Well, I think you’ll find smart ways to use this information. Maybe, schedule your tweets around 10AM, and really push hard the final week of ticket sales. If you can’t beat procrastination, join it!
One final tip: If you’re throwing an event that you think will mimic this pattern, when you’re 2 weeks out, multiply your ticket sales by 2.5. That should give you a rough estimate of what you can expect to sell. But the absolute best way to know how many people want to come to your event? Create the one you’ve been thinking about and find out.