If you want to check how your sales is doing you can check this with the Customer Data Platform. For example: if you organize a festival for the third year in a row, you want to check if ticket sales is on schedule compared to last year. You can check this by building the Conversion graph.
The festival in the example has been organized two times before. That is why you see three lines in the graph: 2017, 2018 and 2019. On the X-axis you see minus 175 to zero. This is “number of days until event”. As an event can have a different date per year, you have to use this property. On the Y-axis you see the number of tickets sold. What conclusions can we draw from this conversion graph:
- Ticket sale started earlier then the years before. This resulted in a head start and we are a head of target (target being last years sales)
- Previous years ticket sales really got going 50 days before the event started
- Around 60-50 days before event there is a steep lift. This could mean a marketing campaign that resulted in a significant lift in sales.
How to make a conversion graph in 3 steps
To be able to compare the three different groups, we first have to specify what these groups are. In this case we want to know how many people bought a ticket in 2017 (group1), 2018 (group 2) and 2019 (group 3). We have to make these three groups before hand. You can also click here for the help guide of how to make a segment
- Go to Profile insights
- Create a new segment by clicking on the filter button
- Create a filter which specifies the festival and the year you want as a group.
- Save the segment.
- Do this for every group. so you'll have three new segments
Build the graph
- Go to the Dashboard
- Create a new dashboard by clicking on the add button in the upper right corner.
- Fill in the setting as shown below
- You have to set the setting for every group you made. When you made the first group you can add a series. The folder in the image with "2019", "2018", "2017" are the series. you can add a series by clicking the plus symbol.
- Click save after creating all the series.
Draw conclusions from conversion graph and investigate
When you've made a conversion graph you can really get to work. Because what do you see? Can you draw any conclusions out of this. And if so, why is this year doing worse (or better) then last year?
Check your target groups! Is there a specific target group that is acting differently this year? Maybe you can target them with a great marketing campaign. Look at ages, gender, demographics, music preferences, etc. to see what causes the downturn or upturn in ticket sales.
Questions? Reach out to your dedicated Data Consultant for help!