Filling seats when planning an event planning is crucial not only for maximizing revenue but also for creating a dynamic and engaging atmosphere.
In this post, we will explore a variety of ticket sale strategies, including how to create compelling ticket tiers, strategically set prices, and use effective sales techniques.
By the end, you'll have the tools to make informed decisions, sell tickets, and ensure a thriving event!
Quality vs. Quantity with Ticket Sales
Let’s talk about the balance between quality and quantity when attracting attendees.
While maximizing ticket sales might seem tempting, attracting the right audience is key. (FREE DOWNLOAD: Ideal Attendee Workbook)
A targeted group can significantly impact your event’s success by providing a more engaging experience, fostering meaningful networking, and, ultimately, driving better results. It also ensures that your event meets its objectives, whether those are educational, promotional, or community-building.
Pricing Strategies for Ticket Tiers
Developing an effective pricing strategy requires several different factors. Before pinning a price on your tickets, you need to research to ensure that your pricing makes financial sense.
Here’s what you need to consider when structuring your pricing strategy:
Event Costs: Understand your expenses to determine a baseline price.
Competitive Analysis: Research similar events to ensure your prices are attractive and profitable.
Perceived Value: Align ticket cost with the unique benefits and experiences you offer. This justifies higher prices for premium features and enhances your event’s perceived value in the eyes of potential attendees.
Creating Ticket Tiers
Once you develop your pricing strategy, you’re ready to create your ticket tiers. Creating distinct ticket tiers is a powerful way to cater to a diverse range of attendees, each with different expectations and budgets.
Here is a breakdown of two common ticket tier structures:
General Admission: This provides essential access to the event.
VIP Tickets: This provides access to premium experiences like priority seating, exclusive content, and special networking opportunities.
Clearly outlining the benefits of each tier helps attendees choose the option that best suits their needs and expectations. When marketing the event, it’s important to highlight the differences in each tier. This maximizes your event’s appeal and revenue potential.
Setting Strategic Prices for Ticket Sales
Ticket pricing is a strategic decision, not a shot in the dark. It’s not about picking numbers that "feel" right, it's about analyzing data to ensure profit from sales.
Pay attention to these three things to avoid setting arbitrary prices that may undercut your potential revenue or dissuade attendees.
The costs involved in your event.
The market demand.
The perceived value of what you’re offering.
Data-driven pricing ensures that your event remains competitive and profitable while delivering value that exceeds attendee expectations, and understanding this prevents you from setting arbitrary prices that may undercut your potential revenue or dissuade attendees.
Note: A projections spreadsheet with built-in formulas can help you play with numbers so you can determine the best possible pricing!
Client Example: Successful Ticket Pricing
These two examples demonstrate how quality/quantity, pricing strategies, and tiered tickets attract the right attendees, maximize engagement, and boost revenue.
*Note: Both events compared were 3-day enrollment events that took place in the same year, in the same region, and targeted a similar audience.
Client A focused on filling the room with lower-priced tickets to attract a larger audience.
Despite having more people in the room, the conversion rate for Client A’s offer was lower than expected.
This is because they prioritized quantity over quality, which resulted in attendees who were not fully aligned with the event's value proposition and were not qualified buyers.
Client B implemented a strategy with higher ticket prices that attracted a smaller, targeted audience. Although there were fewer people in the room, the attendees were qualified and highly engaged, resulting in authentic connections and community.
As a result of their strategy, Client B generated significantly more revenue from their event with significantly lower costs.
Proven Strategies for Ticket Sales
Now that your ticket tiers are set, let's explore how to sell those tickets!
Create a waitlist.
You can do this before the event details are in place. Create a landing page with a waitlist and an email collection form. Post the page to social media, share it on networking calls, and add it to the bottom of your email campaigns. This will drive people to opt in, which means you will have a list of leads waiting to buy tickets when they go on sale.
Market the event frequently and consistently.
It often takes people six to seven times to see the same message before they make a buying decision. Needless to say, it’s important to stay consistent with your promotions!
Share your event (everywhere) on social media.
There are so many social media avenues to share your event. Post about it EVERYWHERE, on all your pages, in groups, and on your stories. Send the event link to people on your followers list or in your network via DM.
And, If you are ready to take a less organic approach, you can invest in paid ads!
Utilize Eventbrite.
In addition to your event page, Publish your event to Eventbrite. People use the platform to search for local events, and it's a great way to attract new people who may not even be aware you exist. Make sure to optimize your Eventbrite listing for SEO and utilize the hashtag options. You don't have to sell tickets on Eventbrite, you listing can direct them to your event site/page for ticket purchase.
Create an affiliate program.
You can create affiliate links for your groups, clients, or anyone enrolled in your programs. They can earn a commission, say 10%, on every ticket sale generated through their unique link. This means they get paid for each person they refer to your event.
Ask your sponsors, speakers, and attendees to share the event.
Event sponsors, speakers, and attendees can help spread the word as well. Provide them with a branded graphic featuring their photo. They can then share this on their social media, which will expand your event's reach. This approach boosts social proof and increases overall visibility. Bonus points if you create a social media promotion toolkit with pre-written posts and images to make it super simple for them to promote your event and their involvement.
Offering VIP Upgrades.
Create a targeted email campaign for your general admission attendees that promotes them to upgrade to a VIP ticket. Highlighting the benefits of the VIP Package to people who have already purchased general admission tickets makes it easy for them to upgrade. Plus, they will have already paid the general admission fee, so the difference in price to upgrade may be more realistic for them now!
Early Bird Pricing and Breaks
Early bird pricing is a strategic tool that rewards attendees who commit early!
For organizers, it generates upfront revenue (before all the details are hammered out) and offers early insights into attendance numbers.
For attendees, it presents an opportunity to secure a spot at a reduced rate, creating a sense of urgency.
The timing and duration of early bird offers are crucial—typically, starting with a limited period before general sales creates excitement and momentum.
Getting Butt's In Seats!
Effective ticket pricing requires a strategic approach that considers both your unique offerings and your audience's expectations.
From understanding the quality vs. quantity balance to creating compelling ticket tiers and implementing data-driven pricing, every decision plays a vital role.
Let’s strategize!! Book an Event Brilliance Strategy Call so you can master your ticket pricing and sales for a profitable and successful event!
.
Comments