There are hundreds of ways to throw a fun nightlife event – but how about a profitable one? Did you know, for example, that different cities have different spending habits? That ticket sales lead to other types of spending? Or that music events, in general, are the most popular type of nightlife event?
Understanding how nightlifers spend their money can help you make the most of your revenue opportunities when planning your next event.
A recent survey of nightlife events in Austin, San Francisco, Los Angeles, New York City, Chicago, and Atlanta uncovered some interesting spending patterns. Tickets make up the biggest proportion of nightlifers’ dollars, but the spending doesn’t stop there. With all that goes into a great night out, there are other ways to turn a profit beyond your ticket sales.
Across all cities surveyed, event-goers spent $81 on an average night out. Ticket purchases make up nearly half this cost. Drinks are the second largest spending category, followed by transportation and late-night snacks.
Here are a few tips to cater to these spending habits:
1. Raise the bar: On any given night out, people typically indulge in an average of three drinks. So how can you keep that spending in-house?
If you sell booze, you might consider lowering ticket prices to attract more people (and their friends) to enjoy a night at your venue. You could also sell VIP packages that include a certain number of free drinks. No bar? Think about partnering with a nearby watering hole and offer party-goers discounted drinks before or after your event.
2. Take care of transport: Transportation is one of party-goers’ biggest costs during a night out. To make attending your event an easy choice, think about ways you can help nightlifers get to your venue more easily. Many rideshare companies will work with special events and offer attendees a discount code. Make sure to include all discounted ride information on your ticketing page, along with other transportation info such as bus lines, train routes, and parking options. This will give people deciding whether to attend your event more reason to go.
3. Give them their fill: Spend on late-night snacks nearly tied with transportation to and from the event. Encourage nightlifers to stay at your venue by providing a food option. If you don’t have a kitchen, is there a local food truck you can partner with? Allow them to sell food onsite, and charge a fee or arrange to share profits. Keeping party-goers filled and fuelled is a great way to keep them spending at your venue for longer.
No matter what kind of nightlife event you’re hosting, catering to these spending habits is an easy way to win more dollars.