Music festivals, sporting events, and concerts are incredibly popular, but recent global concert tours have demonstrated that getting a ticket—at a reasonable price—can feel near impossible. Ticketswap provides a safe and fair peer-to-peer marketplace where people can buy and sell tickets to concerts and events across 36 countries.
We recently sat down with Nicolas Basoalto Reyes, digital marketing lead at TicketSwap, to learn how using Amplitude has positively impacted their business, including a 15% lift in sales funnel completion, improved customer retention, and the benefits of having a shared source of truth.
Read on for a discussion recap, or watch the full webinar on demand: How Using Amplitude Led to a 15% Lift in Sales Funnel Completion at TicketSwap.
Democratizing data with Amplitude
The TicketSwap team knew that to improve decision making, they needed to empower their teams with data—and the inaccurate, surface-level data they were working with wouldn’t cut it. Moreover, data was limited to a select few, creating bottlenecks and impeding the democratization of insights throughout the company. So, TicketSwap transitioned from Mixpanel to Amplitude to gain deeper insights, improve data accuracy, and give more organizational stakeholders access to data.
After a seamless two-month transition, the TicketSwap team transformed their analytics capabilities and data culture, with approximately 60% of the company using the Amplitude platform. This democratization empowers individual team members and fosters a culture of data-driven decision making throughout the organization.
Transforming insights into a sales uplift
With most of the team empowered with insights from Amplitude, TicketSwap has seen meaningful results. Using Amplitude's custom dimensions, TicketSwap gained granular insights into micro-conversions within the ticket seller journey. These insights revealed crucial user drop-off points due to verification issues or other ticket-related hurdles.
With this knowledge, TicketSwap devised targeted strategies to address each pain point and streamline the user experience, such as simplifying their verification process and improving ticket delivery.
They began sending tailored, automated messages to users designed to address potential issues—resulting in a remarkable increase in sales funnel completion.
"This whole process and the personalized messaging to bring users back led to a 15% uplift in the sales funnel completion. That was a great result."
Optimizing marketing with Amplitude insights
Like most companies, audience segmentation is paramount to TicketSwap’s ability to optimize marketing campaign performance, and Amplitude helps provide the insight to strategically target these efforts.
Understanding both the seller and buyer journeys is essential for tailoring TicketSwap’s marketing efforts. With Amplitude, they can track micro-conversions within these journeys, enabling Nicolas’ team to pinpoint where users may encounter hurdles and intervene with targeted messaging and solutions.
Additionally, buyer activities—such as adding an event to their favorites or setting a price alert—provide valuable signals about user intent. By segmenting users based on these actions, the TicketSwap team can personalize marketing campaigns to nudge them toward purchase completion, optimizing conversion rates.
Amplitude's segmentation capabilities extend beyond user behavior to encompass event-specific attributes such as genre or category. With these insights, TicketSwap has tailored marketing campaigns for specific events, ensuring their messaging resonates with the right audience segments.
When TicketSwap identifies an event with limited ticket inventory, their goal is to deplete that inventory quickly via targeted marketing campaigns—and they use Amplitude to discern which users are best to target for that particular event.
Integrating Amplitude with TicketSwap’s Customer Data Platform (CDP) has further enhanced their segmentation efforts. The team can seamlessly translate audience segments into targeted campaigns across various marketing channels by connecting Amplitude's insights with other tools in their tech stack.
Enhanced KPI tracking and retention
Tracking key performance indicators (KPIs) in Amplitude helps the TicketSwap team gauge progress, optimize strategies, and look back to see which actions drive growth. e
"Amplitude has made it much easier to see where our progress is coming from."
TicketSwap has gained invaluable insights into the effectiveness of their marketing channels in driving user retention—a critical KPI for the performance teams. By dissecting user behavior across different channels, such as paid versus CRM channels, they can identify which are most successful at retaining users, enabling them to allocate resources more efficiently and optimize their marketing efforts accordingly.
"Currently, we're witnessing a significant improvement in user retention, a metric that has historically posed challenges for our marketplace.,” shares Nicolas.
Amplitude's rich data insights empower TicketSwap to understand user behavior more comprehensively, enabling them to create targeted strategies to re-engage users and deliver relevant content. This more user-centric approach has not only boosted user retention but also enhanced the overall lifetime value of their users, fostering a more sustainable marketplace ecosystem.
"This shift is pivotal in transforming our platform from a one-time transaction model to one that focuses on increasing the lifetime value of users,” explains Nicolas. “Ensuring that users who sell tickets this month may also become buyers on our platform next month is a key aspect of this transition."
For more on retention, check out the “Mastering Customer Retention Strategy '' playbook which covers the why, what, when, and how of user retention. Download now.
