If you can’t beat ’em, join ’em. That’s the lesson Ticketmaster learned from its own journey through digital disruption, according to Jared Smith, president of Ticketmaster North America. At the Forrester eBusiness Forum November 6, Smith discussed how Ticketmaster has responded to the threat of the ticket resale market by launching its own online marketplace — a gutsy move that has increased sales and improved customer service for the ticket retailer.
Smith said that Ticketmaster is in an unusual position: “we are blessed to be in a business where people stalk our product.” Bruno Mars fans want to know where Bruno Mars will appear and how much it costs to see him even if they don’t end up going to one of his concerts, and they actively use digital to follow his appearances. Ticketmaster customers are passionate. They are driven. They are also frustrated when they can’t get access to their product — and they’ll willingly go to your competitor if you can’t give them that access via an affordable ticket.
As Smith noted, 90 percent of Ticketmaster’s business comes from online and mobile sales — and in the digital world, it’s far too easy for fans to go elsewhere if you don’t give them what they want, a reality that spurred Ticketmaster to change the way it does business. In the 2000s, ticket resellers like StubHub emerged to threaten Ticketmaster by taking advantage of the ease with which Continue reading