The Challenge
A client faced a significant challenge in managing its extensive ticket inventory across various sponsorships and venues. A substantial number of tickets were going unused, attributed to inadequate tracking mechanisms. This inefficiency not only led to a loss of potential engagement opportunities but also presented complications in tracking for tax and reporting purposes. The need was clear: a comprehensive solution that could streamline ticket management, ensure utilization, and maintain compliance with financial and regulatory standards.
The Solution: The Ticket Grid by Wilkinson Sports Advisory
In response to this challenge, Wilkinson Sports Advisory devised "The Ticket Grid," an advanced online tool designed to revolutionize the way our client managed its ticket inventory. This sophisticated tracking software was engineered to fulfill several critical functions:
Comprehensive Inventory Management: The Ticket Grid enabled real-time management of all tickets company-wide, ensuring every ticket's tax implications were meticulously recorded. This system facilitated the distribution of tickets based on a defined allocation hierarchy, optimizing usage and compliance.
Segmented Event Management:
For large-scale events, the Ticket Grid offered a multi-level invitation and distribution platform, catering to both internal and external invitees. Integration with TicketMaster and others simplified the distribution process, enhancing efficiency and tracking accuracy.
The Event Hosting system provided an online guest management solution for a variety of events sponsored by our client. It allowed for precise control over invitee lists by the internal hosts, ensuring events served their intended purpose while facilitating tax reporting and return on investment (ROI) analysis.
A tiered system managed tickets for long-term sponsored properties and venues, prioritizing distribution among executives and then broadening access as needed. This approach ensured optimal use of tickets while maintaining an online record for compliance and ROI assessment.
The Result:
The implementation of The Ticket Grid yielded transformative results:
Efficiency and Time Savings: Automated processes significantly reduced the time needed to manage communications and review competing ticket requests.
Enhanced Asset Management: The system provided a streamlined method for comparing requests, leading to better utilization of tickets and assets.
Compliance and Audit Readiness: Adherence to internal and industry-specific usage requirements was seamlessly integrated into the process, ensuring audit readiness and compliance.
Cost Reduction: Administrative costs associated with managing ticket assets were notably reduced.
Decrease in Unused Assets: The strategic allocation and easier access to tickets led to a marked decrease in unused assets, maximizing the value derived from sponsorships and events.
By addressing the initial challenge with a tailored, technology-driven solution, our client not only enhanced its ticket inventory management but also achieved significant operational improvements and compliance benefits.