Can You Sell-Out in 2 Minutes? No, Learn Why!
In this video, Queue-it CEO Niels Henrik Sodemann channels his years of experience in the ticketing industry to explain why selling out in a couple of minutes is simply not possible.
You have probably seen news headlines stating that highly anticipated tickets for popular shows or concerts were sold out in a matter of minutes, or even seconds. In this video, Queue-it CEO and Co-Founder Niels Henrik Sodemann elaborates on why this pervasive story is a mere myth.
The video explains the purchase journey on a ticketing platform and why the timeline to selling out is tightly connected to this process. The typical timeline of a ticket buyer’s journey ends from anywhere between 7 and 30 minutes, in connection with the timeout.
The talk contains valuable insights into the typical timeline of a ticketing onsale, and delivers recommendations on key ways to handle successful onsales and smooth the process both for your business and for your end-users.
In understanding the onsale timeline, from entering the site to checkout, you will see how it is simply not possible to sell out in less than 2 times the basket/cart timeout time.
Further, Niels also delves into cart abandonment, and the many reasons behind cart abandonment during your biggest onsales.
Niels also explores the timeout through the psychological perspective of ticket buyers. That includes the feeling of frustration when they see that tickets are apparently sold out in minutes, only to learn that their colleague who got in after them was able to snag coveted seats.
In this situation, a 'throttling' strategy can help vendors accurately sell out and avoid premature 'sold out' messages to ticket buyers by having only the number of users in the ticketing path that could possibly reach the end of their journey.
Finally, Niels touches on how using a virtual waiting room can safeguard your website during onsales and provide a seamless customer experience.