Average Ticket Price
This KPI measures the average ticket price by event, season, supplier, travel destination or another metric, during a particular period. If you offer a range of different ticket prices, this can be used for tracking the mean amount which you are receiving per ticket. By measuring this metric over time, you can chart how prices alter throughout the season. Viewing this alongside your volume of ticket sales and the gross profit you are returning per event, service or activity, can also give a better indication of true performance and feed into pricing strategy. You may find that certain events are selling at a high rate but have a low Average Ticket Price, which is contributing to a lower overall profit – something that can resolved by increasing prices. On the other end of the scale, you may find some events have a high Average Ticket Price, but low sales and thus turn a small or no Gross Profit due to the costs involved.
Making the KPI
To create this KPI you will need to know:
- The volume of ticket sales within a particular period
- The total revene generated from ticket sales
Armed with this information, you can import these details into FUTRLI via CSV, using the Child field to distinguish between particular events or channels. If you are already pulling Ticket Revenue through from your Accountancy Package, you will only need to upload the number of Tickets Sold.
After uploading your data, you can create your KPI by dividing Ticket Revenue by Tickets Sold:
And then view your resultant KPI: