Make More Money With A Winning Event Pricing Strategy
Does setting your ticket prices make you a little nervous? Possibly a bit frustrated too?
Charge too much and you know you’ll scare a lot of potential attendees away. Charge too little and you may not cover your costs, plus you’re leaving money on the table!
What to charge for a ticket is such a fundamental question you have to answer, yet there’s precious little help out there to help you.
So how do you decide on the best event pricing strategy for your event?
You could consult tea leaves and mystics, throw darts at a board or go for a price that ‘just feels right.’ But will that really help you optimise your revenue and make more money? Probably not…
Never fear! To help you out, we’ve created a brand new Eventbrite report, based on thousands of events across all categories, to help show you how to:
- Understand the consumer mindset and the psychology of buying
- Set your core event price in four steps
- Encourage early purchases
- Improve your margins with premium pricing options
- Offer smart discounts to drive more ticket sales
Whether you’re planning a concert, festival, sporting event, conference or fundraiser, there’s nothing more important to your bottom line than determining the optimal event pricing strategy.
If you’re savvy about setting your prices correctly, you can motivate people to buy tickets earlier, inspire attendees to tell their friends, and get more money in the bank faster. Pricing forms the backbone of your event, so developing a smart strategy should be high on your list of priorities.
In this report, Eventbrite delivers best practices to develop a winning event pricing strategy—so you can give your event-goers an amazing experience, and make money at the same time.
Filled with actionable tips and data-backed strategies for increasing your event revenues, this is the ultimate event pricing strategy guide for 2015.
Did you know?
- Across the Eventbrite platform in 2013, the average promo code discount was ~30%. On the lower end of the spectrum, in music, the average discount was ~10%.
- Eventbrite estimates that, in some event categories, VIP experiences account for a sizeable chunk of money— 10% of ticket sales—and generate approximately 25% of revenue. This is a trend expected to grow.
- Conferences, on average, sell ~35-40% of their total tickets through early bird promotions, while music events sell under 20% of their total sales with early bird tickets.
For more great insights and data on event pricing strategy, download the Britepaper today!