BOSTON, July 14, 2016 /PRNewswire/ -- Ve Interactive, a world-leading technology company that provides an integrated digital advertising and onsite conversion platform, today announced results from its partnership with Telecharge, a leading provider of ticketing services for Broadway and off-Broadway shows. Telecharge selected Ve as its partner for display ad campaigns to engage new audiences and increase re-engagement conversion rates across its Broadway shows. To-date, Ve's audience generation and retargeting campaigns have generated nearly 8,000 conversions across 26 Broadway shows, translating to more than 2 million dollars in revenue.
According to Ve Interactive's data, the average basket abandonment rate for tickets in the live entertainment industry is above 80 percent. In an effort to maximize ticket sales, Telecharge put in place a display advertising strategy for retargeting visitors who had abandoned the booking process, or had previously purchased tickets from Telecharge. The organization also wanted to ramp up its digital advertising efforts to target prospective theatergoers who had not previously visited Telecharge's website.
"The live entertainment industry is extremely competitive, and we were looking for ways to help our Broadway clients increase ticket sales," said David Andrews, Senior Vice President for Ticketing, The Shubert Organization. "We chose to partner with Ve because of their display advertising expertise, robust audience targeting technology, and effective campaign management. Ve has done a fantastic job in leveraging the customer data we collect for Broadway ticket sales to create retargeting campaigns that help our clients recapture millions of dollars in lost bookings revenue."
Ve's team analyzed Telecharge's first party data to create an audience segmentation and targeting strategy that involved several components. Ve used show-by-show segmentation to serve highly targeted creatives to retarget users that had viewed that show's webpage. In addition, cross-show targeting was applied to serve ads to customers for plays of a similar genre. The company also employed contextual targeting to generate new audiences for shows with celebrity stars, and launched creatives with specific mentions of The Tony Award standings to prompt users to buy tickets for award-winning shows. To serve top-of-funnel segments for well-known shows, Ve leveraged private marketplace deals, including highly selective premium inventory on The New York Times, as well as Facebook ads to retarget younger audiences and return them to the show site to complete ticket purchases.
"Telecharge is an established ticketing leader in the American theater industry, and we're thrilled to work with them to drive ticket sales and sell seats for Broadway and off-Broadway shows," said Terri Mock, Chief Revenue Officer, Ve Interactive North America. "Our partnership has already attracted thousands of new prospective theatergoers, as well as re-engaged thousands more shoppers who had abandoned the booking process to complete their ticket purchase. We're proud to be able to deliver a clear and significant ROI to Telecharge of over 2 million dollars on more than 70 campaigns across 26 Broadway shows."
Ve Interactive used its VeAds data-driven display advertising application to execute the Telecharge campaign. VeAds harnesses the power of customer and purchasing-intent data to deliver successful, dynamic advertising campaigns that meet all advertiser KPIs. VeAds marries Ve's proprietary data from its data management platform (DMP) with third party data to deliver highly targeted, relevant ads via programmatic ad buys on sophisticated demand side platforms (DSPs). VeAds is part of VePlatform, a comprehensive suite of digital advertising and marketing applications used by more than 10,000 online retailers to acquire, engage and convert customers.
About Ve Interactive Ve is a multi-award-winning technology company offering a suite of apps across one platform, which help online businesses successfully drive new traffic, increase customer engagement, minimize website abandonment and boost conversions.
The company supports over 10,000 domestic and multi-national online businesses and retailers in the delivery of real-time marketing communications at key points within their customers' journeys. Tracking billions of data points daily, Ve's comprehensive data set provides unparalleled insights into customer activity, while driving each app to deliver highly-targeted content to customers based on their purchasing activity and profile.
Founded in 2009, Ve works across 30 languages and within 43 territories. Headquartered in London, the company has 33 offices worldwide. In 2015, it topped the Sunday Times Tech Track 100. Ve North America, established in 2011, has headquarters in Boston and offices located in New York City, Toronto, and Tempe, Arizona. www.veinteractive.com
About The Shubert Organization/Telecharge The Shubert Organization owns and operates seventeen Broadway theatres and six off-Broadway venues. Shubert Ticketing and Telecharge.com provide every segment of the entertainment industry with a single source for all its ticketing needs - box office sales, telephone sales, internet sales, season and subscription sales, group sales and more. Telecharge is a division of The Shubert Organization and a leading provider of ticketing services for Broadway and off-Broadway shows and other events across the country. As the official, authorized ticket seller, Telecharge gives direct access to the best seats in the house.