Startup SocialLadder’s new deal with Ticketmaster division is a ‘big win’

Philadelphia tech startup SocialLadder is moving up another rung, announcing Monday the company, which connects live event promoters with more than 150,000 brand ambassadors to drive ticket sales, landed a major deal with a division of Live Nation’s Ticketmaster.

CEO and Co-Founder Raavi Iqbal said it has partnered with the entertainment conglomerate’s event ticketing site Universe to integrate its SocialLadder ambassador platform into the process of setting up an event.

Now, when an organizer creates an event on Universe and wants to promote it, it has two buttons to click — Facebook or SocialLadder.

“That’s a big win,” Iqbal said.

The partnership comes a little over a year since SocialLadder landed a similar deal with EventBrite, the leading do-it-yourself ticketing platform in the U.S.

Since then, Iqbal said the SocialLadder’s gotten “a lot of great new business from [the EventBrite partnership,]” he said. “Events of all sizes have been using us through the integration and continue to use us now. Hopefully we’ll see the same thing from Universe.”

SocialLadder earns its revenue from a 10 percent commission it charges based on each ticket sold through one of its ambassadors. In exchange for leveraging their networks, ambassadors are enticed to promote events with incentives like backstage passes.

The platform can integrate with any e-commerce or ticketing platform, but the deals it landed with EventBrite and Universe, where it’s represented right on the site in front of event organizers, is the highest level of integration it offers.

Iqbal said the company is aiming to repeat the same kind of partnership with other major ticketing platforms, a space that’s far more fragmented than people realize, as well as expand beyond live events.

It has the cash to do so, having closed a $1.5 million last funding round in February after beinning to raise funds at the end of 2017. It set a record at the Philadelphia Alliance for Capital and Technologies’ (PACT) Lions Den — the pitch competition at its annual capital conference — by raising $800,000 there last year, and it went on to raise further funds from previous investors including former Facebook COO Owen Van Natta. Delaware Crossing Investor Group also joined in the round. To date, SocialLadder’s raised $2.5 million.

Its funding will also be a help as SocialLadder seeks out a new headquarters. It’s currently operating out of the University City Science Center and Drexel University’s ic@3401 coworking space but having grown to a team of nearly 20 people, Iqbal said the startup is in the midst of looking for its own dedicated office space in the city, hoping to fill about 2,500 square feet.


Article originally written by Michelle Caffrey for Philadelphia Business Journal.

 

Peet-To-Peer Marleting SocialLadderBlog

Behind the Peer-to-Peer Marketing Revolution

 

The personal recommendation of a friend – whether it be for an event, service, or product – has a strong persuasive effect. Unlike company advertisements, the close connections we have with people who are part of our personal lives prime us to view the information as coming from a reliable source. This is the idea behind peer-to-peer marketing, and the operative principle of its success.

In this age of technology, the market landscape where businesses employed methods reliant on passive consumerism is undergoing a change. The digital age is decentralizing the one-way top-down relationship that businesses had with consumers, and power is rapidly shifting towards the hands of consumers. The result of this is a peer-to-peer marketing revolution.

According to Nielsen, people are 4x more likely to make a purchase when referred by a friend.

Through social media platforms like Facebook, Twitter, Instagram and LinkedIn, businesses can actively engage and interact with their consumers. People can comment, like and share their opinions with other people who are interested in a product or service they have tried. An increasing number of people rely on customer reviews of businesses, products, services and events to guide their purchasing decisions.

Engaging with key influencers, consumers and fans makes customers feel valued and respected as individuals [Marketingland]. When customers feels like they are valued, this fosters long-term trust and loyalty which is the foundation for long-term relationship with your customers.

 

 

Tinuke

 

Tinuke​ ​Akintayo​ is an intern at SocialLadder. She is currently pursuing a Bachelor’s Degree in Sociology and Anthropology at Swarthmore College as part of the class of 2018. During her free time, she enjoys dancing, listening to music and drawing

SocialLadder Featured on Amplify

SocialLadder’s recent partnership with Eventbrite has the potential to make significant changes to the landscape of live music and concert promotion, a development which is not lost on Amplify Media’s founder and executive editor Dave Brooks. His writeup on SocialLadder’s integration with Eventbrite’s third-party API can be found here, or you can read the text below:

Peer-to-peer marketing technology provider SocialLadder has made its technology available as an extension to ticketing platform Eventbrite, integrating “the company’s online ticketing technology with its comprehensive brand ambassador management system,” according to a release.

“Our partnership with Eventbrite means that the world’s largest ecosystem of event organizers can now discover new fans and seamlessly access the power of word-of-mouth marketing to increase tickets sales and drive buzz,” said Raavi Iqbal, CEO and co-founder of SocialLadder.

This is the first on-platform extension for an ambassador marketing program to be built on Eventbrite’s third-party API. The integration allows event organizers to activate peer-to-peer marketing in one click by giving them direct access to SocialLadder’s network of on-demand ambassadors, and enabling attendees to secure tickets where they hear about most events: their friends.

“Eventbrite is focused on helping event organizers sell more tickets, and making the process of buying tickets as easy as possible, regardless of where people discover those events,” said Scott Van Brunt, Head of Partnerships at Eventbrite. “Events are inherently social, and the integration with SocialLadder helps event creators sell out their shows by tapping into the networks of the most influential fans through the power of ambassador programs.”

SocialLadder was founded four years ago to make professional ambassador teams accessible to organizers of events of all types and sizes, and sold millions of dollars of tickets in 2016 for thousands of the world’s most popular events.

“Event fans win with this partnership too – as more organizers turn to SocialLadder, we continue to be the best destination for fans everywhere to get rewarded for promoting the events that they’re actually passionate about,” said Alana Bly, Co-founder of SocialLadder.