Are you Struggling With Event Ticket Pricing?
If yes, well have no fear as our conference venues sales team has offered their guidance to ensure you get your event ticket pricing right, you cannot go wrong.
Here are the tips they have put together:
1. Determine your event’s worth.
Before searching for ticket pricing strategies to drive event revenue, you need to review your event design, this is quite a crucial step as this enables you to take a closer look at who your stakeholders are such as your attendees, sponsors, and exhibitors.
2. Discover your event’s value.
Collaborate with your team and ask them to share their views on what they think stakeholders want so you can prove your theory. You can do this by asking important conference venue stakeholders like attendees, event organisers, and sponsors directly if your ideas are correct and if they are willing to pay the planned price.
3. Calculate your price.
When thinking about pricing, you need to know your expenses versus revenues as this will decide how much you should charge your tickets to cover the expenses. The other option you can use to know your ticket price is to research other similar topical events that are relevant to you.
4. Ticket sales tactics
Once you figured out how much you should be selling your tickets for, plan your strategy to sell the tickets. There are different strategies you may consider:
- Early bird prices & tiered early bird prices – early bird sales are the easiest way to create awareness about the event and boost sales in the early months of promotion.
- Timed-batch ticket pricing – works similarly to tiered early bird, as you can set tier based on key dates. You can create as many tiers as you like and increase the price with each date as it gets closer to the event date.
- Promo codes – enables you to get the right referrals to buy your tickets when you create specific groups to send your promo codes.
- Multi ticketing
At Cavendish Venues we are committed to exceeding your expectations, and with over 93% repeat business we know we're doing something right!