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The Ticket Fairy Pays You to Bring Friends to Events

Thursday, September 24, 2015   (0 Comments)

TechCrunch (08/17/15) Constine, Josh

Startup Ticket Fairy enables customers to share information about their ticket purchases through social media and then rewards them with cash back for the tickets sales generated by their referrals.  In exchange for a small fee for each ticket sold, Ticket Fairy sells promoters' tickets, runs their analytics, and handles their ad campaigns.  Promoters that have exclusivity contracts with big-ticket sellers such as Ticketmaster may only be able to give Ticket Fairy 20 percent of their tickets sales, but co-founders Ritesh and Jigar Patel hope to earn promoters so much money that they leave their contracts.  Ticket Fairy's referral marketing tool gives customers a personalized referral URL they can share through social media, which friends can use to buy tickets to the same event, earning the original customer cash back.  Ritesh says the incentive produces a “crazy return on investment. For every dollar they give, they earn $30 in extra revenue.”  The company collects as much information on customers as possible, such as their Spotify listening history, and runs analytics to help their clients book bands based on what their existing clients like.  It tracks where purchases come from to help clients make efficient use of marketing budgets, or Ticket Fairy will run ads using data on referrals, customers, and traffic sources to allocate ads for the maximum return.

 

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