At TRG we frequently promote four things: Recency – Frequency – Monetary Investment – Growth. Our suite of counsel is formulated around driving these four patron behaviors in every strategic decision you make at your arts organization.
If you want to learn more about R-F-M-G, here is a great primer. But If you’re curious about what this focus can result in at your organization, keep reading. Here’s a hint: TRG clients outperform non-TRG clients in the Arts & Culture Benchmark. Analyzing Benchmark data from over 25,000 events, we can see the impact of R-F-M-G in our client organizations when compared against their general market.
Retention in North America
The chart below reflects a significant improvement in attrition amongst TRG clients who have either taken a Sprint with TRG, are in a full-suite consulting engagement, or who are alumni clients. Each category of our partner organizations are experiencing a lower attrition rate and higher retention rate as a result of their R-F-M-G focus.
Retention in the UK
Across the pond, our partner organizations are also seeing improved retention rates. TRG clients are averaging 8% higher retention over the general market.
Multi-Buying in North America
Zooming in on the frequency bit in R-F-M-G, we find that these same partner organizations are achieving a higher frequency of attendance as well! Active full-suite and alumni organizations of TRG are seeing 6-7% more of their patrons purchasing tickets to multiple events.
Multi-Buying in the UK
The TRG client data in the United Kingdom also reflects an encouraging result from our partner organizations centered around R-F-M-G principles. On average 6% more of their buyers ar buying for multiple events.
We are thrilled to be able to share these results with the sector on behalf of our clients, but message is clear; a focus on getting audiences to come to an event (recency), come back again soon (frequency), increase their monetary spend with your organization over time, and graduate upward into higher brackets of loyalty (growth) is the key strategy in a nutshell of our clients are achieving recurring revenues and building a resilient future.