Introduction
EventBrite is an online company that deals with events. The company does event marketing, promotion, management and ticketing of the events. The event industry tends to attract business and to a more positive step it helps the organizer to connect with the community. The company has a proficiency in service to deliver marketing of events and event ideas, advice in event running strategies, market response and engagement, and the strategy to use social media in attendance engagement during the span of the event.
An online platform is important in dealing with events since it tends to connect a number of people. The people are located in various geographical positions that maybe far apart. These tends to communicate like an advertisement platform. Therefore the online platform provides two important components both to the company and the clients. There is unlimited chance to advertise and the opportunity to reach out to the client by proactive communication. The client is able to engage with the event organizer and present their ideas to them.
Marketing
Eventbrite has a smart marketing strategy. The event company looks to invest in marketing since most of its business activities happen on the online platform. This is the reason that the company seeks to integrate with social media in the sense of marketing itself and the products that it sells. The company tends to advertise itself on Facebook a social utility platform that links a number of individuals across the world.
Social media integration affects the companies’ involvement in business. This is because social media spans a large geographical area and has a large number of people involved. This gives the company the light required to advertise to the clients. Where the clients need clarification, the clarification can be done in optimum time. The ability to respond immediately to the clients gives the company an edge over other companies. It is a good reputation to provide quick response to the clients, it is the best customer service.
Social media advertisement is also an important fit to the company since it brings about connection. Friends can connect on the platform and bring their cycle into the awareness of the event. This way, more people can connect to it and create attachments to the event. This means that Eventbrite has high chances at rapid growth which is initiated by the company’s nature of work. The event industry is a marketing strategy in itself and therefore it gives the company the limelight it requires.
An example is the presence in an event which is attended by a large number of people from different geographical places. It means that when the presence of the company is acknowledged at the place, then word about it gets to spread and this is important in determining the scope of the market in which the company covers.
Protection
It is said that quality protects and this is the first strategy that Eventbrite uses to protect its clients information and events. The security of the customer is important online, this is because a simple exposure of the customer will lead to diverse effects which may be hard to rectify. This is why Eventbrite works to protect the privacy of the customer by encouraging the use of strong encryption strategies.
The transmission of the information is done securely to the processing joint and credit card information is transacted only on a single page of the website which is the checkout. A successful transaction prompts the website to discard the private credit card information so as the security is enhanced.
The tendency to provide secure transactions works to better the relationship between the company and its clients. The clients build trust in the company if they get to transact and know that their presence and information on the online platform is secure. Eventbrite structures information in that the most relevant information is done on every page of the site. This way, there can be no confusion in the mode of data entry.
The ability to structure the pages also helps the company to manage information in a secure manner. This is because each page is allocated its dedicated work and hence helps the company to secure the transactions that it does online. The management of information on the website therefore shows that there is security since each page has its own content to be managed as a single unit. The most important point is that communication happens through a secure line where the servers are at the headquarters of the company.
Infringement rights
Eventbrite does not condone infringement of rights, it has set up a team (DCMA/ Trademark Agent) to deal with this type of mistake. The client is able to report the infringement which is then dealt with immediately by taking down the alleged copyrighted material after investigation and contacting the infringing party with details.
The company does not allow the use of unauthorized copyright materials. This is because of the rights involved which involves the use of copyrighted material that need approval. This is the reason that the company allows affected copyright users to report the mishandling of private data and materials. This way, it is possible to control the infringement and the associated rights. The report generated can be sent to the client for comparison purposes. It saves time for the client and the affected party, hence a smooth flow of events.
The ability of the company to have a copyright oversight body is to ensure that there is little lawsuits against the company. This is because the complaints are put directly into the company and therefore they are managed from within the company. The ability to manage copyright issues within the company is important to both the company and the associated clients. This is because the clients can solve the problem remotely without having to indulge the expenses and time with the lawyers and courts.
Valuation
Eventbrite has good valuation stakes as it has been funded above $1 billion for its expansion and growth strategy. The majority of the invested capital comes from T. Rowe Price and Tiger Global. The company (Eventbrite) is also investing in geographical locations apart from its online presence. The company looks to buy out as well as start organically by building its own physical offices. This is the strategy of the company to expansion and beat competition, the strategy is also aimed at creating dominance in the industry and hence a lookout to make more profits.
The company is known for its innovative practices and recently it launched a self –reserving seat feature. Innovation helps the company to develop products and this is a highlighting point to business creation and warding off competition. The online platform is important in that it gives the company an unlimited presence to customers.
Funding
The company since startup has been able to raise $200million in capital which is pumped towards service providence. The funding is meant to enable operations and help the company in expansion. It helps to the company to maintain its competitive advantage since it is on the right side of operation. The essence of funding creates an environment that is viable for the working of the company. It brings about the funds to market, to create the event portfolio and even invest in the most sophisticated security portfolio.
Competition
Competition is important to the clients since it enables them to get value. The value comes in the prices and the quality of services. The main competitor to Eventbrite is Ticketmaster which seeks to oust the other company from the market through its strategic marketing capabilities, customer care and low prices. The most advantage to Eventbrite in this category is the ability to innovate its products and to a more customer oriented platform give the most secure online experience.
Eventbrite has one major competitor and six upcoming competitors in the business. The competitors have various methods in which they have ventured into the market. The competitors include ticketmaster, ticketleap, Ticketbud, SimpleTix, Etix, Brown Paper Tickets, and GlobeSherpa. The competition is rife to the business aspect in that it promotes more innovation in the field.
The other competitors mostly deal with other utility services companies. Like GlobeSherpa, it deals with the transport industry where it provides ticket services through a mobile application platform. TicketLeap does box office software to enable the selling, sharing and scanning of tickets. It means that competition has been brought by diversity in the market. It is a good sign since each company will tend to hold its own clients.
Conclusion
The case study works to highlight the areas in which Eventbrite has conquered and the areas that need more involvement. The involvement of the company in the current market puts it in a strategic position to handle. The availability of the service on the online platform places the company on a wide market area. This way the company can let the clients access the various services in any geographic place. The company has also started physical offices that help it to address customers in the physical essence. This makes it easy for the customers to interact with company and its staff on a one on one basis.
The ability to outsource funds for the company enables it to meet its objectives and run projects to beat competition. The competition is also important in that it ensures there is quality services. The quality services at Eventbrite enables the company to retain its customers and maintain the quality of services above its immediate competitors. The company has invested in standard procedures to protect its clientele from internet insecurity. The company tends to look into more ways to protect its clients by encouraging safe internet use to its clients.
The company has secured funds to the tune of $1billion which is to help it achieve its expansion as well as operation goals. The funding will help the company to operate more physical offices, improve customer experience and to a large extent market itself both on the online and physical platform. The economic stakes of the company are set to rise with the more input of cash from its investors.
References
Antwonne, D., 2015. How to Report Copyright or Trademark Infringement. [Online] Available at: https://www.eventbrite.co.nz/support/articles/en_US/Troubleshooting/how-to-report-copyright-or-trademark-infringement?lg=en_MY[Accessed 16 February 2016].
Baverman, L., 2013. Slideshow: 6 Startups Out to Stub Ticketmaster. Upstart Business Journal, pp. 1-7.
Cameron, N., 2013. Marketing Rapid Growth: Eventbrite's Ticket to Ride. [Online] Available at: http://www.cmo.com.au/article/459284/marketing_rapid_growth_eventbrite_ticket_ride/[Accessed 16 February 2016].
Eventbrite, 2012. Q&A with our Security Team. [Online] Available at: http://eventbrite.tri.be/qa-with-our-security-team/[Accessed 16 February 2016].
Eventbrite, 2016. Sell Tickets. [Online] Available at: https://www.eventbrite.com/[Accessed 16 February 2016].
Primack, D., 2014. Exclusive: Eventbrite Joins $1 Billion Club. [Online] Available at: http://fortune.com/2014/03/13/exclusive-eventbrite-joins-1-billion-club/[Accessed 13 March 2016].
