Thanks to rising ticket prices and non-refundable policies, buying tickets to live events has become a high-stakes decision for fans. This has trained many to delay purchases until the very last minute—or to opt out altogether. These challenges have major implications for event producers’ bottom lines, especially in the toughest economic environment for festivals to date.
To get more fans buying faster, we have to remove risk from the live events equation. Lyte is helping clients do just that with hassle-free Returnable Tickets, credit check free Layaway Plans and Buy Now Pay Later Options.
Layaway Plans
One of the biggest barriers to entry is undoubtedly rising ticket prices, which can be compounded when fans also have to account for additional expenses like travel and accommodations.
Recognizing that not everyone can pay upfront, we’ve introduced credit check free Layaway Plans to accommodate every fan’s financial situation.
With Lyte Layaway Plans, fans can spread the cost of their tickets over time with manageable payment plans. This option encourages fans to secure their tickets early, leading to quicker sellouts and more predictable revenue streams for event organizers.
Here's how it works:
- On checkout, fans will see the available Layaway Plans you’ve authorized for your event
- They’ll select the Layaway Plan that works best for them and complete check out
- They receive automatic email reminders before each installment of their plan is due
- A grace period is provided for missed payments, ensuring that fans can catch up without losing their tickets
By including Layaway Plans as a part of their on sale strategy, events like Baja Beach Fest have seen their sales trends double, increasing fan purchase power and event revenue.
Buy Now, Pay Later
In addition to Layaway Plans, our Buy Now, Pay Later (BNPL) options help you provide fans the ultimate flexibility at checkout.
With BNPL plans, fans can commit to your event without the immediate financial burden, leading to faster purchase decisions.
Other benefits include:
- Higher average order values
- Increased uptake of premium offerings like VIP packages
- Improved conversion rates and attendance figures
- Enhanced on-site revenue from more confident and committed attendees
Returnable Tickets
Even with flexible payment options, the fear of commitment can deter fans. That’s where Lyte’s Returnable Tickets come in. Offering a no-questions-asked return policy up to 72 hours before the event, this feature provides the security fans need to commit early.
At Lost Paradise in Australia, introducing Returnable Tickets increased revenue by over 20%, proving that fans value (and will pay a little more for) flexibility.
Here’s what fans had to say about Returnable Tickets:
Creating a Win-Win Scenario for Festival Owners & Fans
Live events are some of the most magical moments life has to offer. When risk is removed for fans, attending more events becomes a reality—which removes the risk from your bottom line too. To join events like BottleRock, Baja Beach Fest, Puerto Rock Steady Festival and more in helping fans buy faster, drop us a line today.