renewals – BaylorS3E

Increase Season Ticket Renewals by Identifying At-Risk Accounts

kirk_wakefield 2015, Sell, Tickets September 8, 2015October 31, 2018analytics, attendance, first year, identify, renewals, sales analytics, season tickets, tenure, usage 0 Comment

by Daniel Venegas – September 2015

Identifying At-Risk Accounts

Many factors go into the buying decision whenever customers receive renewal invoices. Team performance, usage, cost, and value are just a few of the buzz words we hear every year. The issue is knowing which accounts will bring these up and how to identify them beforehand.

Simplifying the renewal process has been one of our paramount objectives for the past three seasons. We focus on identifiers of at-risk accounts. Team performance is important and measurable, but beyond our control. We chose two metrics to identify at-risk accounts early in the process:

Season Ticket Tenure
Attendance

Understanding these two elements and what they indicate allows us to influence accounts at the beginning of the season as opposed to waiting to hear objections.

Season Ticket Tenure

You can tell a good deal about customers by how long they have been with the organization. Over the past two seasons alone we can tell that first year customers are 9% less likely to renew than second year customers and 17% less likely to renew than third year customers. Obviously, new season ticket holders should be a major focus of your renewal campaign. You know who they are from the very beginning so there is no excuse for not being proactive with these accounts.

“When it comes to first-year season ticket members, education can help drive success. It’s important to educate the client on every possible aspect to utilize their tickets in the most efficient way. Don’t assume a first-year account knows everything about their membership.” -Karlis Kezbers (@karliskezbers), Director, Retention and Ticket Operations, Oklahoma City Thunder

Season Ticket Attendance

Attendance at games is another great quantitative measure to identify at-risk accounts. Customers with an attendance of 61-70% are 6% less likely to renew than those customers that attend 71-80% of games and 9% less likely to renew than customers that attend 81-90% of games.

Tracking attendance early on in a season can help you identify customers that may have issues utilizing their tickets. Be proactive with these accounts and to help them identify ways to better use their tickets.

“The responsibility for getting a ticket used is slowly but surely transferring away from the client and onto the team.” -Karlis Kezbers (@karliskezbers)

Face to Face: The Throwback Solution

Now that you know the potentially risky accounts, what do you do with them? You can’t change their tenure. You may be able to influence their attendance, but probably not much.

Go meet them in person!

Take time out of your week to show customers how much you and the organization care about their business. It is your job to consult with them on the product you sold. Let them know 1st year STHs often aren’t aware of the best ways to utilize season ticket benefits compared to tenured accounts. Walk through the benefits to see how you can help. Tell customers when you notice they are not utilizing their tickets as frequently as most. Offer solutions to manage missed games or to better utilize future games. When you have done this:

Go see them again!

Sam Bays, Director of Business Development at the Arizona Coyotes, shares,

“Whether it’s at the arena, in their office, or over a lunch, nothing solidifies the relationship between an AE and a client like a face to face meeting. As a sales professional, the more you can make yourself the ‘face of the franchise’ in the client’s eyes, the more likely they are to renew.”

You may or may not be able to influence attendance or utilization of seats, but your actions influence renewal rates. Accounts that use 61-70% of their tickets renew at a rate 10% higher than average if their reps visit them more than once during the season. You also can’t change the fact you are working with a first year account, but you can show them the real value they purchased. First year accounts that have more than one face to face visit from their reps during the season renew at a rate 6% higher than the average rookie account.

Day one of your renewal should be the first day after your deadline. These numbers are specific to my organization but the relative impact can be the same for you.

Cover photo courtesy of PresseBox.

CRM Made Easy: How to Track Account Renewals

kirk_wakefield 2015, CRM, Relate, Sell, Tickets September 3, 2015October 31, 2018CRM, customer relationship management, data, renewals, tickets, tools, tracking 0 Comment

by Michael Hurley – September 2015

Are you using your CRM system to project final renewal numbers? Are you able to identify accounts that might be harder to renew?

The Way We Were

In 2012, during my first renewal campaign with the Houston Astros working with then Director of Season Ticket Services, Alan Latkovic, our “CRM system” was an Excel spreadsheet with every single account listed as a line item and the columns laid out to reflect “touch points” or times of contact with Season Ticket Holders (example below).

This method of touch point management worked in lieu of an actual CRM system. But, there isn’t much tracking and it’s not easy to project renewals. When we rolled out Microsoft Dynamics CRM before the 2013 renewal campaign, our eyes were opened to the benefits of tracking renewals. Today, after years of tracking accounts and tendencies, we can project renewal numbers to the percentage point even before we receive the first response.

Using renewal scores we have real-time information on which accounts require a little more “love.” We quickly see which accounts have not responded at all. We strategically plan an offsite visit with them and maybe even take Orbit along.

Using CRM to Track Renewals

Alan Latkovic (@AlanLatkovic), Senior Director of Season Ticket Services and Operations with the Astros, accentuates the importance of using CRM to track renewals and project the final renewal numbers.

“With the tools of CRM we are able to score accounts who respond to the initial renewal call daily, monthly, and annually. Providing this data to our analytics team, we are then able to project renewals and carry the information over each season to create new renewal benchmarks.”

Tracking every conversation and response for each account ultimately makes the big picture become more clear. The Astros use a very simple but effective renewal tracking method throughout the renewal campaign. We categorize accounts based on an initial indication of renewal. If an account’s initial response to us when they receive their invoice is that they are not renewing, we mark them as “unlikely to renew” in CRM, at the same time if an account lets us know they are planning on renewing and processing the invoice, or “the check is in the mail” we mark them as “likely to renew” in CRM. Using renewal scores, we can project what an account will do, and by tracking the data of renewal scores over time, we then have an idea of what percentage of accounts in each score grouping will ultimately renew.

The Importance of Tracking Renewals

When it comes down to it, we simply cannot overlook the importance of tracking renewals and building renewal campaigns around the tools of CRM. Katherine Tran, Manager of Membership Services with FC Dallas, stresses the importance of being able to forecast future renewal cycles by using CRM:

“The importance of tracking renewals is second to none. It allows teams to pinpoint customer trends over the seasons and helps forecast future renewal cycles. Teams can plan their renewal efforts and campaigns based on data from previous years.”

When following trends in renewals over the years, and knowing which accounts renew and when, a much clearer picture emerges when forecasting renewal numbers. While using Excel will get the job done, it’s no comparison to the benefits a true CRM system provides.

Cover photo courtesy of Ezhil Ramalingam, India.

How to create a successful university season ticket holder retention program

kirk_wakefield 2013, CRM, Luxury Suites & Premium Tickets, Relate, Sell, Tickets September 2, 2013November 2, 2018decreased complaints, improved process, increasing referrals, Personalize, program, renewals, retention, touchpoints 0 Comment

by Bryce Killingsworth – September 2013

Connecting Fans

What is customer service?

Customer service is taking an ordinary situation and making it extraordinary. At Oklahoma State University, we implemented a newly developed retention program to build long-term relationships while providing supreme customer service.

The retention program includes four representatives focused on (1) connecting with the fans, (2) moving fans through the buying funnel, and (3) cultivating fans for life. We believe our best marketing plan includes a superb customer service plan.

[dropshadowbox align=”right” effect=”lifted-both” width=”250px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]

“As a three time graduate of Oklahoma State University, and as an academic leader and consultant in the area of sport marketing – particularly as it relates to sales and retention, I am excited to see OSU Athletics realizing the importance of retention activities. OSU has decided to keep its sales and retention activities in house and is taking responsibility for the revenue generation necessitated by that approach. Having dedicated retention specialists, much like the majority of pro sport franchises, shows the Cowboys’ commitment to their customers and shows a deep understanding and strategic approach to not only customer satisfaction – but customer happiness.” [/dropshadowbox]

How we do it

The stadium sections are divided among the four reps. Each rep takes full responsibility for providing customer service for the assigned fan base and increasing renewal rate percentages. By assigning specific sections we can target more personal messages toward customers. We provide a personal touch by:

Personally calling or e-mailing every season ticket holder as the first touch point.
As relationships build, we make arrangements to meet season ticket holders at their tailgates on game day and bring them a small gift (poster, lapel pin, etc.) as a gesture of appreciation.
This season we are leaving a personal thank you card on the seat of season ticket holders to display appreciation. Reps will provide their business card inside the note to personalize the relationship.
We invite football season ticket holders over for a basketball game with complimentary tickets. When they come in to retrieve the tickets we offer refreshments, adding another touch point.

Anytime we have an opportunity to meet a fan in person is an advantage for us, as we provide that personal connection and increase the level of the relationship between the fan and Oklahoma State University.

Seizing first impression opportunities

Last season, I helped a dad buy single game tickets to take his son to his first ever football game on his birthday. I took notes of their names and seat locations and just before kickoff I went up to their seats to introduce myself and wish the boy a Happy Birthday. I also gave him a gift bag that included an OSU poster. Both the father and son were overjoyed. Seizing first impression opportunities produces a significant impact on the buyer’s connection to the program.

Results

[dropshadowbox align=”right” effect=”lifted-both” width=”250px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]“To me, the best part of the program is that it falls perfectly in line with our long term approach to relationship building. We want our fans to feel connected to our program and our university. This is just another aspect of how we do this.” Adam J. Haukap [/dropshadowbox]The most notable benefits from the program?

Decreased complaints. That means not only happier fans but also saved time by administration not putting out fires. The complaints are virtually non-existent at this point.
Improved process for dealing with issues. Problems still come up. But with the retention program each one is addressed in a timely manner with full communication throughout the process with the fan. The issues are managed at the lower level and rarely need reach the AD. This creates a great working environment for everyone. Fans are able to speak with a rep instead of feeling like they are battling an organization.
Increased interaction. One indication our program is being productive is our direct lines ring more than our general office line. Customers directly reach out to their reps rather than dialing the 1-800 line.
Increased referrals. Customers voluntarily give out referrals of friends, family, and co-workers on a regular basis to help extend the Oklahoma State family. This translates into less reliance on finding new leads each off-season to reach department goals.

We now have better quality data when making decisions and developing strategies in our retention program as we continue to increase our renewal rate percentages. OSU just broke their personal record of public season ticket sales for the fifth time in six years, in large part to increased motivation of our reps in providing great customer service in-season and out-of-season to the OSU fan base.

Ticketing technology: How can we reduce barriers for renewals?

kirk_wakefield CRM, Relate, Sell, Tickets April 1, 2013November 2, 2018accounts, at-risk, Channel 1, click-thru, e-renewal, increase revenue, NFL, renewals, technology, tickets 1 Comment

by Chris Faulkner – April 2013

As technology rapidly moves forward and clients become more savvy using social media and mobile technology, we need to adapt the way we conduct our ticketing business.

Premium seating, in particular, deals with ample amounts of data from proposals from salespeople, accounts, data, contracts, and paperwork. With all of the fancy mobile devices, apps, and tablet technology, how can we start to simplify processes to get better results, more sales and more renewals?

Tuning into the right channel

At the Denver Broncos we turned to Channel 1 Media and their e-brochure technology platform. The e-signature technology was key in order to create fewer hurdles to doing business and simplify our internal processes.

This past season we had 2,691 seats up for renewal in our United Club, giving our small service staff a huge task in getting all accounts renewed and more importantly making a large piece of our total revenue pie at risk. The e-renewal piece would capitalize on the excitement of the season, but more significantly allow our clients to sign their renewal electronically in a couple of simple steps.

In years past we created a printed brochure, including personal mail merged contract information specific to each account, mail out, and follow up with a phone campaign to chase down renewals. Our clients would then have to sign the renewal contract, mail or scan back to us, we would countersign and email or mail back to the client: a painfully slow and dated process.

Rescuing at-risk renewals

[dropshadowbox align=”right” effect=”lifted-both” width=”250px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]

At the Denver Broncos we strive to be on the forefront of ticketing technology as it evolves into the future. Our goal is to create efficiencies for our staff and allow more frequent and easier interaction with our most valued clients. [/dropshadowbox]The e-renewal piece also allowed us to capture the specific renewal data in real time and target specific “at risk” accounts over the course of the 4 -week renewal period. We had 883 unique Personal URLs (PURLS) created for our 2,691 expiring seats. After emailing out we could see immediately who clicked on their links, what pages they were viewing, how long they were on the site, and ultimately when they signed the renewal.

Once signed, an email notification was sent directly to the service rep on the account for follow up. Over 85% of the links were clicked through multiple times. We were able to renew at our highest percentage since the building opened. We targeted accounts not opening the link along with those that opened but had not e-signed the renewal yet. We also converted the same piece to an iPad application for service reps to take to present the offer on face-to-face appointments in-game and outside the office.

Looking forward

As a sales manger, reporting real time data and understanding the behavior of clients helps the organization as we make pricing and renewal incentive decisions moving forward. The ultimate focus, creating less hurdles for the customer, in turn, resulted in a higher renewal rate. By embracing the growing technological developments, ticketing and client service operations become more efficient while providing an overall exceptional experience for the client.

Structuring corporate partnership departments to serve and sell

kirk_wakefield Sell, Sponsorships February 1, 2013November 2, 2018corporate partnerships, new business, organizational structure, renewals, Sales, service, sponsorships 0 Comment

by Tyler Epp – February 2013

Service or new sales first?

Every franchise experiencing a significant internal leadership change or external threat like the recent recession sees an immediate focus on new revenue.

Understandably, new corporate partners are often expected in order to reconcile revenue projections made during the sales process of a franchise or to deal with a down economy. A short-term push to add partners can be successful, but must be balanced with providing long-term service and performance. In an informal poll across counterparts in the NFL, MLB, & NBA, approximately 80% of corporate partnership annual revenue comes from current partners and renewals.

Wendy Morris, Vice President, Team Sponsorship Development for the NBA, shares,

“We see the biggest growth come from companies already working with our teams. As a result, we’re seeing teams move to a more sophisticated approach to activation and investing in activation staff with brand and agency backgrounds. Partners are looking to our teams to serve as an extension of their marketing team and expect us to be proactive in providing creative activation ideas, insights to drive their business and measurement to show success.”

In short, our first priority must be to take care of the companies already invested in our franchises. The revenue from up-selling a current partner counts the same as revenue from a new partner.

Renewals: Service or sales?

The people who (a) build the relationship with partner, (b) take the time to understand the company’s objectives, and (c) solve fulfillment problems should be involved in renewals. Since our role is to produce revenue, all members, with few exceptions, should have revenue goals.

If we trust Cindy or Carl to manage a $1M, 5-year relationship with Ford, do we not trust Cindy or Carl enough to renew the business? If the job is done properly, Ford would certainly prefer to work through the renewal with Cindy or Carl than someone who sold the deal through 5 years ago. New Business people should be focused on New Business – not on keeping the relationship with a current partner “warm” until they need to be hit up for a renewal.

Know Your Personnel

[dropshadowbox align=”right” effect=”curled” width=”200px” height=”” background_color=”#ffffff” border_width=”1″ border_color=”#dddddd” ]Every Sunday afternoon NFL fans yell at the coach for obvious mistakes: “Why would we pass on 3rd and 1?” “Why is he returning punts?” Chants of “Te-bow” ring out after a mistake from Mark Sanchez. As fans, poor personnel management drives us crazy. But, are our sponsorship departments around the leagues managed properly?[/dropshadowbox]

Do we have the right people in the right places?

If you are dealing with a company based in Dallas for three generations and your staff has a Dallas native who sets his body clock on the Red River Rivalry, should you think about that person to manage this business? Buck the trend of separating beer partners to avoid conflict. Instead, assign the right person to truly understand the business and know everything there is to know about beer. MillerCoors and Budweiser will quickly forget about any potential conflict once they realize they are working with someone who knows their business as well as they do.

Conclusion

It is probably good to remember the words my high school prom date was clearly not familiar with: “Dance with the one who brung you.”

Current partners invested in our franchises. Take care of them. Learn about their business. Help measure their investment. Be a good partner.

Chances are your franchise doesn’t get 100% of their advertising or marketing spend, so there’s upside with nearly all current partners. If they spend so much that the upside isn’t significant, then you certainly owe them a fully integrated and fantastic program.

Corporate partnership departments should not be built on sales people creating “books of business.” The mission should be to build a team of people to collectively sell and service a partner’s investment. Potential partners will appreciate that you spend more time on the partners you have than chasing new business. In a funny way, your investment in your current partners is the best way to grow new business.