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3 ways event venues benefit from order ahead technology

3 ways event venues benefit from order ahead technology

3 ways event venues benefit from order ahead technology

The announcement that Ticketmaster is partnering with Preoday to integrate their online ordering platform at its venues is a major sign of confidence in the Preoday technology. It re-inforces Preoday’s position as the leading provider of order-ahead technology for stadium operators and event venues internationally.

For the past two years, Preoday has been working closely with a cross section of event venues, whose capacities range from 2,000 to 55,000; covering sports, music, cultural and business events.  These partnerships have generated invaluable insights into operational best practice at event venues, and have enabled Preoday to refine their best-in-class online ordering platform.

    • Reduced queues: At the heart of the solution is the reduction of the impact of queuing – a major bug-bear for sports fans and concert-goers alike – and the financial rewards this brings. Evidence shows that when a queue is 6-long, people are in two minds whether to join it. At 10-long they simply don’t. In many venues when seats are filled, 60-70% of ticket holders therefore buy nothing. On the app, by contrast, customers don’t see a queue. Preoday’s platform means queues move, on average, three times faster and improves revenues significantly.

 

    • Improved margins: The sensitivities along this curve are highly impactful. Drinks typically enjoy 80-90% margin and fast food 60-75%, therefore being able to process just 15% more orders at peak periods could potentially triple the caterers’ profits. And according to client venues, Preoday’s online orders are typically 40% higher in value than normal (cash) orders.

 

    • Knowledge: In addition to these financial benefits, knowing in advance what customers have ordered has huge operational and marketing advantages for catering and hospitality teams. It not only helps them plan and manage their resources effectively, but it also helps reduce avoidable food waste. On average, 51% of Preoday orders are placed well before an event (the highest was 72%). But more than that, orders placed online provide rich data about customers and their spending habits for intelligent marketing and offers, which are simply not available through cash transactions.

 

So, what does the future hold? Currently, demand far outstrips supply and venues find themselves reacting to the needs of tech-savvy customers of all ages whose e-commerce use of mobile devices is accelerating. Expectations of being able to order ahead are rising fast and customer experience is paramount. As Ticketmaster’s decision demonstrates, engaging with customers in advance of an event brings financial, operational and marketing benefits on the day.

Other Blog Articles

How Event Venues Benefit from Preoday’s Order-ahead Technology

How Event Venues Benefit from Preoday’s Order-ahead Technology

How Event Venues Benefit from Preoday’s Order-ahead Technology

The announcement that Ticketmaster is partnering with Preoday to integrate their online ordering platform at its venues is a major sign of confidence in the Preoday technology. It re-inforces Preoday’s position as the leading provider of order-ahead technology for stadium operators and event venues internationally.

For the past two years, Preoday has been working closely with a cross section of event venues, whose capacities range from 2,000 to 55,000; covering sports, music, cultural and business events.  These partnerships have generated invaluable insights into operational best practise at event venues, and have enabled Preoday to refine their best-in-class online ordering platform.

At the heart of the solution is the reduction of the impact of queuing – a major bug-bear for sports fans and concert-goers alike – and the financial rewards this brings. Evidence shows that when a queue is 6-long, people are in two minds whether to join it. At 10-long they simply don’t. In many venues when seats are filled, 60-70% of ticketholders therefore buy nothing. On the app, by contrast, customers don’t see a queue. Preoday’s platform means queues move, on average, three times faster and improves revenues significantly. The sensitivities along this curve are highly impactful. Drinks typically enjoy 80-90% margin and fast food 60-75%, therefore being able to process just 15% more orders at peak periods could potentially triple the caterers’ profits. And according to client venues, Preoday’s online orders are typically 40% higher in value than normal (cash) orders.

In addition to these financial benefits, knowing in advance what customers have ordered has huge operational and marketing advantages for catering and hospitality teams. It not only helps them plan and manage their resources effectively, but it also helps reduce avoidable food waste. On average, 51% of Preoday orders are placed well before an event (the highest was 72%). But more than that, orders placed online provide rich data about customers and their spending habits for intelligent marketing and offers, which are simply not available through cash transactions.

So, what does the future hold? Currently, demand far outstrips supply and venues find themselves reacting to the needs of tech-savvy customers of all ages whose e-commerce use of mobile devices is accelerating. Expectations of being able to order ahead are rising fast and customer experience is paramount. As Ticketmaster’s decision demonstrates, engaging with customers in advance of an event brings financial, operational and marketing benefits on the day.

Other Blog Articles

How Event Venues Benefit from Preoday’s Order-ahead Technology

How Event Venues Benefit from Preoday’s Order-ahead Technology

How Event Venues Benefit from Preoday’s Order-ahead Technology

The announcement that Ticketmaster is partnering with Preoday to integrate their online ordering platform at its venues is a major sign of confidence in the Preoday technology. It re-inforces Preoday’s position as the leading provider of order-ahead technology for stadium operators and event venues internationally.

For the past two years, Preoday has been working closely with a cross section of event venues, whose capacities range from 2,000 to 55,000; covering sports, music, cultural and business events.  These partnerships have generated invaluable insights into operational best practise at event venues, and have enabled Preoday to refine their best-in-class online ordering platform.

At the heart of the solution is the reduction of the impact of queuing – a major bug-bear for sports fans and concert-goers alike – and the financial rewards this brings. Evidence shows that when a queue is 6-long, people are in two minds whether to join it. At 10-long they simply don’t. In many venues when seats are filled, 60-70% of ticketholders therefore buy nothing. On the app, by contrast, customers don’t see a queue. Preoday’s platform means queues move, on average, three times faster and improves revenues significantly. The sensitivities along this curve are highly impactful. Drinks typically enjoy 80-90% margin and fast food 60-75%, therefore being able to process just 15% more orders at peak periods could potentially triple the caterers’ profits. And according to client venues, Preoday’s online orders are typically 40% higher in value than normal (cash) orders.

In addition to these financial benefits, knowing in advance what customers have ordered has huge operational and marketing advantages for catering and hospitality teams. It not only helps them plan and manage their resources effectively, but it also helps reduce avoidable food waste. On average, 51% of Preoday orders are placed well before an event (the highest was 72%). But more than that, orders placed online provide rich data about customers and their spending habits for intelligent marketing and offers, which are simply not available through cash transactions.

So, what does the future hold? Currently, demand far outstrips supply and venues find themselves reacting to the needs of tech-savvy customers of all ages whose e-commerce use of mobile devices is accelerating. Expectations of being able to order ahead are rising fast and customer experience is paramount. As Ticketmaster’s decision demonstrates, engaging with customers in advance of an event brings financial, operational and marketing benefits on the day.

Other Blog Articles

How Event Venues Benefit from Preoday’s Order-ahead Technology

How Event Venues Benefit from Preoday’s Order-ahead Technology

How Event Venues Benefit from Preoday’s Order-ahead Technology

The announcement that Ticketmaster is partnering with Preoday to integrate their online ordering platform at its venues is a major sign of confidence in the Preoday technology. It re-inforces Preoday’s position as the leading provider of order-ahead technology for stadium operators and event venues internationally.

For the past two years, Preoday has been working closely with a cross section of event venues, whose capacities range from 2,000 to 55,000; covering sports, music, cultural and business events.  These partnerships have generated invaluable insights into operational best practise at event venues, and have enabled Preoday to refine their best-in-class online ordering platform.

At the heart of the solution is the reduction of the impact of queuing – a major bug-bear for sports fans and concert-goers alike – and the financial rewards this brings. Evidence shows that when a queue is 6-long, people are in two minds whether to join it. At 10-long they simply don’t. In many venues when seats are filled, 60-70% of ticketholders therefore buy nothing. On the app, by contrast, customers don’t see a queue. Preoday’s platform means queues move, on average, three times faster and improves revenues significantly. The sensitivities along this curve are highly impactful. Drinks typically enjoy 80-90% margin and fast food 60-75%, therefore being able to process just 15% more orders at peak periods could potentially triple the caterers’ profits. And according to client venues, Preoday’s online orders are typically 40% higher in value than normal (cash) orders.

In addition to these financial benefits, knowing in advance what customers have ordered has huge operational and marketing advantages for catering and hospitality teams. It not only helps them plan and manage their resources effectively, but it also helps reduce avoidable food waste. On average, 51% of Preoday orders are placed well before an event (the highest was 72%). But more than that, orders placed online provide rich data about customers and their spending habits for intelligent marketing and offers, which are simply not available through cash transactions.

So, what does the future hold? Currently, demand far outstrips supply and venues find themselves reacting to the needs of tech-savvy customers of all ages whose e-commerce use of mobile devices is accelerating. Expectations of being able to order ahead are rising fast and customer experience is paramount. As Ticketmaster’s decision demonstrates, engaging with customers in advance of an event brings financial, operational and marketing benefits on the day.

Other Blog Articles

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