In May of 2016, Showpass introduced the Showrep Network; a peer to peer sales network that leverages personal connections and individual influencers in order to sell more tickets. Local venues shows benefit from these increased sales through the live music community present in each city.
Multiple studies have been conducted on peer to peer and influencer selling, with the ROI being as anywhere from 3 to 15 times the amount that was spent on the marketing initiative. The average return for each $1 spent, is a $6.50 increase in revenues. Upwards of 60% of the businesses consulted in one of the studies are increasing the amount of their budgets being spent on influencer marketing, while only 21% were planning to reduce or keep that amount at a status quo.
This high level of effectiveness is the result of the weight that today’s consumers (especially millennials, which are making up the majority of the live music buying market) place on their peer’s opinions. An individual is much more likely to make a purchasing decision after consulting a friend than after seeing an ad on a social network site or hearing one on the radio. More narrowly, people want to go to the events where their friends and colleagues will be, and what better way to enable that than to allow those buyers and show goers to sell directly to each other.
That’s what the Showrep Network is, a way for those individuals who are highly active in the live music community to help their own personal network get access to all of the latest events around them. The ability to allow anyone of them to sell tickets right from their phone, at any time has increased the percentage of sell out shows hosted on Showpass. Revenues have jumped by as much as 17% for the venues that have chosen to use the network. Incentives can be offered to further boost these numbers, by allowing sellers to earn dollars or complimentary tickets for each regular ticket that they sell.
The Showrep Network is just another one of the ways that Showpass is changing the ticketing game, and giving their clients more tools than ever to increase ticket sales and raise the bottom line.