At TicketSignup we are not just technology creators (as much as we do love creating technology): we are also Payment Facilitators. The reason for this is pretty simple – for event companies, reliable payments are crucial to the successful operation of their business, and if event organizations don’t have a healthy cash flow they will no longer be able to use our technology.
Cash flow is key so events can pay high and variable costs, access working capital, invest in growth opportunities, and manage any unforeseen emergencies. Today, we look at three ways that TicketSignup can improve your cash flow.
Payments Before Your Event
While some ticketing companies like Eventbrite default to holding all your money until your event concludes, hold back at least 20% of your proceeds until the event concludes, or limit the amount you can be paid before your event, TicketSignup wants to get you your money promptly. All events are defaulted to regular weekly payments from the time your first ticket is sold until your event wraps up.
- In 2022, TicketSignup paid 100% of payments on-time.
- TicketSignup no longer holds back any of your event funds by default. Any event can opt to add money to a holdback for refunds and/or chargebacks, but this is up to you.
Encouraging Earlier Purchases
Early payments don’t help your cash flow if no one is buying tickets. To help encourage a more consistent cash flow via early purchases, TicketSignup has a few promotional tools that incentivize early purchases.
- Flexible pricing setups. Events can use price increases, time or quantity limited coupons, and promotional nights to drive earlier purchases and get money flowing for your event earlier.
- Referral Rewards Programs. Implementing an automated program that rewards attendees for successfully referring their friends to your event can inspire more commitment to purchase early to ensure they don’t have FOMO when the day comes.
Increasing Revenue Options
The ultimate key to a better cash flow is simply having more revenue. There are two notable ways that TicketSignup can help to boost your revenue.
- Volume Pricing. Event organizers that use TicketSignup for more than 5,000 tickets or $200,000 in ticket sales each year are eligible for our volume ticket pricing. While you can use this discount to save your attendees money, you can also opt to keep the standard processing fee and get your 20-35% paid in revenue share directly to you.
- Added Processing Fees. Our processing fees are standard, but customers with volume pricing can actually add their own additional fee to increase the revenue to their event.
How Additional Processing Fees Impact Your Revenue: Example Using 5,000 Tickets Sold for $25 each.