Social media today is more than simply a place to meet people; it’s also a treasure trove of information that might improve ticket resale strategies. Resellers of event tickets may find popular shows by tracking interaction, numbers of followers, and trends on social media sites like Instagram, TikTok, Twitter, and Facebook. In order to determine which tickets will be the most profitable, this blog article delves into the topic of social media analytics.
Gaining Insight into Metrics for Social Media
Among the most important social media KPIs for ticket resellers are:
- A growing number of followers is a good indicator of popularity, especially if it happens quickly and doesn’t take long for the trend to be noticed by the media.
- Follower activity: A large number of likes, comments, and shares indicates an engaged crowd that is more inclined to show up to live performances. An easy way to get a feel for how people feel about a certain artist or event is to keep an eye on the hashtags associated with artists you are interested in buying for.
- Take note of the reception that tour announcements receive from the audience. High ticket demand is usually the result of positive and passionate reactions.
The Popularity of Artists and Events Analyzed
Make use of social media to monitor the frequency and context of mentions of a certain artist across several platforms. Hootsuite, BuzzSumo, and Social Mention are just a few of the tools that can collect this data and give you a better idea of how popular an artist is right now. Larger audiences are more inclined to attend performances by artists who are often mentioned in online conversations.
Catching Oncoming Trends on the Viral Web
The demand for tickets to an event or artist might skyrocket when it becomes viral. Viral material, like popular YouTube videos or TikTok songs, can raise interest in concerts, so it’s important for resellers to remain up-to-date on this. As soon as you see a pattern, jump on it. This allows you to buy tickets early during presales and sell them at high profits on the onsale date.
Using Social Media Data for Geotargeting
For events that take place in specific locations, social media analytics may also show you who the fans are and where they’re from. Instagram and Twitter, among others, offer geographical analytics that ticket resellers may use to zero in on the regions with the greatest potential demand.
Bringing Together Multiple Data Sets from Social Media
When making projections, it’s best to use a combination of data elements, such as social media insights, streaming figures, radio plays, and past ticket sales data. This unified strategy lessens uncertainty and makes it easier to foresee which occurrences will yield a profit.
Putting All This Into Practice
Imagine a new band that has a song that becomes popular on TikTok and begins trending on social media. When they announce a tour, their social media activity and engagement skyrocket. You use this data to your advantage and buy concert tickets in advance for their events in their most popular cities, betting on high demand.
Ticket resellers may make a killing on social media by keeping up with the latest trends and connecting with interested fanbases that are likely to buy tickets.
