Focus on: financial resilience in action

JENNY: Hi Ashleigh; thanks for speaking with us today. Can you tell us why you looked to change your pricing model at Dundee Heritage Trust?

ASHLEIGH: In light of the ongoing cost of living crisis, we recognised that access to cultural and educational experiences is increasingly challenging for many individuals and families. We believe that museums and heritage sites should be accessible to everyone, as they play a vital role in community engagement and personal enrichment. This awareness prompted us to reconsider our pricing strategy.

Our decision-making process involved several key steps that align with our mission as a charity, whilst also recognising the importance of generating sustainable admissions revenue:

• Research and Analysis: We conducted thorough market research to understand how the economic environment was affecting our visitors. This included analysing visitor feedback, attendance trends, and comparative pricing with other similar organisations.
• Collaboration with our Team: We held discussions with our team and volunteers to gather their thoughts on the potential impact of a pricing reduction. Their firsthand experiences highlighted the barriers some visitors face, which further informed my decision.
• Pilot Programs: Prior to implementing any changes, we ran pilot programs offering reduced ticket prices during specific events and periods. This allowed us to gauge visitor responses and assess the impact on attendance and overall visitor experience.

Whilst I believe that lowering our ticket prices is a positive step toward inclusivity, I am also aware of the associated risks. Primarily, there is a concern about the potential impact on our revenue and operational sustainability. We will continue to monitor these changes closely.

JENNY: It’s great to know that inclusivity played a big role in you reconsidering your pricing model and that the whole workforce was involved in the process. Did you encounter any challenges when establishing the new pricing model? 

ASHLEIGH: One of the primary challenges was balancing the need to attract more visitors with the potential risk to our revenue streams.

While my holistic review indicated that a price reduction could stimulate interest and engagement, it was essential to ensure that we remained financially sustainable. To address this, I conducted a comprehensive analysis of our financial projections, evaluating the potential impact of different pricing scenarios on both short-term and long-term revenue.

While the initial feedback from my colleagues on the Executive team and the board was largely positive, there were concerns about how the new pricing model might affect our brand perception and visitor experience. To overcome this, I organised collaborative workshops where we could openly discuss these concerns and brainstorm solutions. This inclusive approach fostered a shared sense of ownership for the new pricing strategy and helped alleviate apprehensions.

Open communication and a willingness to adapt our strategy based on feedback helped us navigate these challenges successfully. By continuously evaluating the impact of our pricing changes and remaining agile, we were able to make informed decisions that benefitted both our visitors and the financial health of both Verdant Works and Discovery Point.

JENNY: Getting the balance between income generation and access for visitors is a real challenge; how did you determine your pricing levels?

ASHLEIGH: Initially, I utilised pre-COVID figures as a baseline to understand our previous pricing landscape and visitor trends. This provided us a perspective on how our pricing has historically aligned with visitor engagement and satisfaction.

I engaged with our team to gather insights and feedback. They provided valuable perspectives based on their interactions with visitors, highlighting concerns about affordability and the desire for more inclusive pricing options.

Additionally, before I started with Dundee Heritage Trust, a feasibility study was conducted that assessed the potential impact of adjusting our pricing. This study considered various factors, including projected visitor numbers, revenue models, and how changes might affect our operational sustainability. The findings indicated that a certain reduction in pricing could enhance visitor numbers and overall engagement, which is crucial for long-term success.

JENNY: Have you received any feedback from your visitors since the new pricing strategy went live?

ASHLEIGH: We’ve been closely monitoring visitor feedback. Early responses have been overwhelmingly positive, with many visitors expressing appreciation for the affordability. This feedback is crucial as it signals that our new pricing aligns more closely with our audience’s needs during these challenging times.

JENNY: It’s brilliant that you’re getting such positive feedback! Clear communication helps ensure the success of pricing changes; how have you communicated these changes to your visitors?

ASHLEIGH: We utilised all of our social media platforms to announce the new pricing, reaching a broad audience and encouraging engagement. Additionally, we sent out an email blast to our subscriber list, which allowed us to provide detailed information directly to our most loyal visitors.

I’d also like to commend our marketing manager, Julie Cumming, for her exceptional efforts in crafting clear and concise messages that resonate with our audience. Her strategies not only informed visitors but also opened the door for feedback.

Moreover, it was gratifying to see that our efforts were recognised and covered by the local press, amplifying our reach even further. By leveraging both digital and traditional media, we aimed to ensure that our visitors were well-informed and understood the value being offered with the new pricing structure.

JENNY: Well done on using such a variety of different methods to ensure that you reached all of your audiences. What do you hope the new ticketing strategy will mean for the organisation and your visitors in the long term? 

ASHLEIGH: I anticipate that fostering greater visitor attendance will lead to increased engagement with our exhibitions and programs. A larger visitor base creates opportunities for us to share our stories and heritage with more people, strengthening our role as educational and cultural institutions. I hope this increased engagement will lead to higher levels of repeat visits and word-of-mouth promotion, which are invaluable for our brand.

Additionally, as we grow our visitor numbers, we can explore alternative revenue streams, such as online retail sales, memberships, and enhanced on-site experiences, which can help offset the reduction in ticket prices. This strategic shift may encourage partnerships and sponsorships as we become more prominent within the local tourism landscape.

Finally, a successful ticketing strategy will allow us to invest more in our programs, exhibitions, and visitor services, ultimately enriching the visitor experience. My hope is that this new ticketing strategy will not only increase attendance but also enhance community engagement, diversify our audience, and create a sustainable model for growth that benefits both the organisation and our visitors for years to come.

JENNY: Thank you so much for speaking about these changes at Dundee Heritage Trust and providing us with such an honest reflection. It’s clear that a lot of excellent work across the whole workforce has gone into this new approach, and we wish you the best of luck with it.