"We Have Grown More Than 100% Since the BookMyShow Investment in 2017" - Co-Founders, Townscript
by Shantanu Jain Marketing | May 29, 2018 | Interview
In 2017, India's leading entertainment ticketing platform BookMyShow acquired a majority stake in Townscript, India’s largest DIY (Do It Yourself) online ticketing community. Since then, Townscript has registered an unmatched growth with its extensive customer experience and a deep understanding of consumer preferences. In an exclusive interaction with EVENTFAQS, Sachin Sharma and Sanchit Malik, Co-Founders, Townscript talk about the growth of the platform, vision for the future, and overall expansion plans.
How was the idea of a DIY ticketing platform like Townscript conceptualised?
We actually started out as a networking app for business events and conferences but as we went along, we observed that small and medium event organisers faced a larger challenge. They were unable to set up events on their own, could not integrate payment channels, and so on. This is where we spotted a huge need and an opportunity for us. Today, we are the largest DIY events registration and the ticketing platform in India, largely catering to exhibitions, conferences, marathons, treks, etc.
What have been the challenges in marketing and how have you turned around the growth after inputs from BMS?
Townscript has been going through a phenomenal journey. We allow all event organisers, irrespective of their scale of events, to create and manage their event ticketing seamlessly, without any intervention from the platform. Through Townscript, event enthusiasts can also discover and book their tickets for events that interest them.
BookMyShow backing has further enabled us to scale and has given us the edge in this category. We have a strong foothold in segments like marathons, conferences, treks and trips, seminars, and more. We have grown in terms of the number of events by more than 200% since the BookMyShow investment in 2017 and have expanded our team size to 30. We have also extended our presence in the Indonesian market this year (2018) and are already seeing a highly encouraging response.
BookMyShow’s wealth of experience and deep understanding of this space, market, and product expertise has enabled us to scale in the right manner. We of course, whenever needed, collaborate to give a better experience to our customers.
How have you leveraged BMS's expertise to make Townscript a better platform?
BookMyShow, as we all know, has been the leader in the entertainment ticketing segment for the past decade. They redefined the way people get access to entertainment options and solved more pertinent problems like pricing arbitrage and democratisation of information in the segment. To be able to work with their teams closely has allowed us to gain a deeper understanding of the market, the potential that exists in this space, and to have a long-term vision for Townscript and the market we operate in.
How are you marketing your platform and what are the key indicators you see in the overall online ticketing space?
We believe that satisfied customer experiences on Townscript are playing a huge role in getting us new customers. They are actually our biggest brand ambassadors. While most of our existing users are loyal customers and continue to use Townscript, their word of mouth is helping us strengthen our credibility as a brand. We also use traditional marketing channels including social media engagement, SEO optimised listings, targeted email campaigns among others which continue to help us to reach out to potential customers.
What gives Townscript an edge over other DIY online ticketing platforms?
Townscript allows individuals and event organisers to set up events without any intervention from us, which gives them complete control over their events. We have invested in our product and technology to give an unmatched experience to our customers. Customers, for instance, can now pay for tickets in over 100 different currencies on the platform. We remain free for free events and charge a nominal fee for other events. We have taken Townscript to international markets such as Indonesia as well.
How do you plan to grow your platform and what is the potential you see in this space?
We achieved a certain growth momentum in the last year and we’d like to continue in that direction. We are also working to improve customer experience on our platforms and will be focusing on technology and its related aspects. We are also looking to expand our international presence in countries like Indonesia, Singapore, UAE. We are already registering a growth of more than 60% month on month in Indonesia. We also do foresee a lot of potential for growth from Tier 2 markets and towns and believe that with a rise in adoption of technology, increase in disposable incomes, people are increasingly willing to be a part of larger group activities, which will be a key factor in the growth of this segment.
Sachin Sharma and Sanchit Malik, Co-Founders, Townscript in an exclusive with EVENTFAQS share the journey and the details of the brand.