Use this link to share with your colleagues:
Best Practices: Subscription Math: https://help.pm.leapevent.tech/a/1395178
No matter what subscription type you're setting up, it's best to plan out the price of your packages and subscription Price Levels before you build your season - and the more complex your offerings, the more important this is.
We've got recommendations for:
- Fixed / Choose Your Own Subscriptions
- Pick Later / Flex Pass Subscriptions
Our screenshots will show Google Sheets, but use whatever spreadsheet app works for you.
The following are suggestions that work for us and we've seen work for other PatronManager clients. You will, of course, need to come to your own conclusions about the cost of your tickets and subscription packages.
For Fixed / Choose Your Own Subscriptions
Generally, you'll be offering discounts from face value for each of your subscription packages - but that web of discounts can get complicated if your shows are different prices or if you have lots of different Price Levels.
1. First, list out your season; each uniquely priced ticket someone could buy needs its own row
Columns should be:
- Ticketable Event
- Allocation
- Price Level
- Ticket Price
2. Get a total price for purchasing all tickets at face value
We recommend this as a good point of reference:
3. Add two columns for each subscription package you plan to sell
They should be called something like:
- [Package type] - [intended discount %]
- [Package type] - actual price
4. Let the spreadsheet app do math for you, then adjust each price as necessary
Get the approximate subscription price for each ticket in your "intended discount" columns, then record what the actual price will be in the next column.
5. Check that the prices and totals make sense
Now is the time to ask yourself and any stakeholders, "Does this price make sense? Do these package totals make sense?" Make any adjustments as necessary.
6. Done! Now that you know each intended price, you can set up your season quickly and easily
Here are some links you might want:
For Pick Later / Flex Pass Subscriptions
Generally, you want to offer a discount via your flex pass subscriptions. However, there are a couple complicating factors to keep in mind:
- You may not know your season's full programming at this point, but you will need to set prices for these packages now.
- When your patrons exchange these vouchers for actual tickets, you won't be able to up-/down-charge them if they're choosing a more/less expensive performance.
1. List out actual or approximate prices per ticket for your upcoming season
If you're truly unsure, potentially look back at previous seasons to get ballpark.
If you do know your season's programming, list out each uniquely priced ticket. Each row should have:
- Ticketable Event
- Allocation
- Price Level
- Ticket Price
2. Get a total price for purchasing all tickets at face value
We recommend this as a good point of reference:
3. Use a formula to get a median of your season's single tickets prices
Though your season's might vary between shows, your voucher prices will not - we want a price that makes sense as the "general" cost of a ticket.
4. Add some columns to make space for flex pass pricing
You'll need space for the price of each voucher and the total price of each package. In the example below, we're planning to sell a 2-pack and a 3-pack:
5. Use another formula to get your flex pass voucher prices
Get the exact discounted price, then record the actual price in the next column.
6. Check that the prices and totals make sense
Now is the time to ask yourself and any stakeholders, "Does this price make sense?"
Remember, your flex pass patrons won't be up- or down-charged based on the price of tickets they exchange their vouchers for.
At this point you might decide to:
- Only allow flex pass subscribers to exchange for specific shows
- Create flex pass packages that are specific to each Allocation in your venue (e.g. Balcony, Mezzanine)
- Allow vouchers to be exchanged for any show and any seat, but charge a little more for them
It's really up to you, your organization, and what you're planning for your season.
7. Done! Now that you know each intended price, you can set up your season quickly and easily
Here are some links you might want: