StubStory: Shared Memories Are the Ticket to Success
Until now, the memories evoked by old ticket stubs were enjoyed solely by their owner -- and perhaps a spouse or friend who's tired of hearing the same old story. A new website lets people upload their favorite ticket stubs and share the stories and memories that go along with them.
Matt Peter, the founder of the site, StubStory, is a serial entrepreneur who currently runs his own advertising agency. Peter hope the business will eventually become a social media platform that venues, artists, theaters and the like will use on their own web sites to help fans and patrons tell their stories. He tells BusinessNews Daily what StubStory is all about.
BusinessNewsDaily: How did you come up with the idea of StubStory?
Matt Peter: StubStory began when my young daughter found an old shoebox full of ticket stubs, in one of those bags of stuff that just seems to collect. These are things you'd never throw away but don't really find a place on a shelf in your house. She asked me a simple question, "Dad, what are you gonna do with these? They're pretty!" It was then that I realized that each stub told a special story. Her chance discovery sparked the idea.
BND: How do you advertise your website? Do you use social media?
M.P.: We've found that our project is perfect for social media, which is basically the most amazing word-of-mouth tool ever created. Our concept has an infectious quality to it, and so far we haven't even considered traditional advertising .
BND: Do you have a favorite StubStory of your own?
M.P.: I do, in fact, although I haven't posted it yet. It’s the Rangers' Stanley Cup victory over the Canucks at Madison Square Garden in '94. My family had Rangers tickets since the days of the Old Madison Square Garden, so when Messier delivered the Cup it was like living life one snapshot at a time. I'm hoping the team will give me a good playoff run this year so I can get the StubStory up there at an appropriate time.
As for StubStories we have posted, I don't really have a single favorite. Now, I like it when we happen to get a StubStory from a show I was coincidentally at — that's always cool. Like this Rolling Stones show from Washington, D.C. I'm pretty sure I was there.
BND: What is the most unique ticket stub and memory someone has posted on your site?
M.P.: This is easy to answer. It’s a quick post from a 1974 “Arrow Smith” concert. The band was just starting out, and the promoter misspelled Aerosmith. Now Steven Tyler is a judge on "American Idol" — too funny!
BND: If you could give one piece of advice to an up-and-coming entrepreneur , what would it be?
M.P.: Embrace the passion — prepare for the legwork!
BND: Your site allows individuals to connect their stories on Facebook and Twitter. What effect has that had on StubStory?
M.P.: We find that social media has two primary effects on StubStory insofar as our content is concerned. First, people are motivated to contribute their stories and go into the process knowing they will be sharing the stories with friends – some of whom may have also been at the event – and others who might just get a kick out of hearing their story. Second, since every story does have a social media sharing capability, people who read stories share them with other interested parties. This creates a cascade effect of conversation for StubStory.
BND: The desire for individuals to connect and share with strangers is a relatively new phenomenon. Do you ever see it peaking and then declining?
M.P.: I do see connecting with "strangers" as a phenomenon, though how short-lived I cannot say. New technology always has the potential to kick off a fad that wanes in the future. However, we don’t think of StubStory as connecting strangers, but rather people with mutual interests who just didn't know they shared these commonalities until now.
BND: How do you balance running an advertising agency and ensuring StubStory remains successful?
M.P.: When I became convinced that StubStory was an idea that was going to expand, I began to treat it more like a business and less like a hobby. I recognized that I had to respect StubStory and treat it as a free-standing operation. That way I can compartmentalize both of my businesses and manage each to the best of my ability.
BND: What is the most rewarding part of running your own business?
M.P.: I really enjoy the process, the creativity and the energy that people with new ideas bring to the table.
BND: How do you foresee monetizing this concept?
M.P.: I can visualize several models through which the StubStory brand will generate revenue. Although there is always the "old model" for a website -- consisting of clicks and sponsorships to drive income, we see much more for StubStory. Our short term vision includes "branded" Stubstories, themed micro-blogs created for specific clients, targeted to their own fan base and populated with content tailored to their promotional or marketing goals. We are in active negotiation with partners now to implement this model in the sports, music and other entertainment industries. There is additional value embedded within the StubStory experience and content which is also generating interest from sources I hadn't even considered.