Intro It’s hard to understate the importance of developing a rock-solid event pricing strategy. Between the vast maze of challenges you need to navigate during the event planning process, your pricing is the first and most important. Why? It’s simple: before you are able to deliver a stellar experience, you need to actually get people through the doors. That said, it’s always a surprise to...
Intro This is the second part of a three-part series on building a pricing strategy. In this part, I’ll be diving into the details of how to determine your event’s perceived value. If you need a primer before jumping into the deep end, head on over to How to Price An Event: Part 1 to learn about cost-plus pricing versus value-based pricing. I left off in the last section talking...
Intro This is the third and final part of my series on how to build a successful pricing model for your event. In Part 1, I discussed the goals of a solid value-based ticketing strategy and why it’s so crucial to your event. Part 2 dove into the details – namely, how to actually determine the central data point for your entire strategy: What is your event’s actual perceived...
A quick pricing strategy tip: Don’t discount your tickets! I often see underperforming festivals resort to slashing their ticket prices. It makes sense at first…if sales are sluggish, why not try to lower the price just to get people in the gates? Then at least you can collect ancillary revenue when they arrive on site (bar, food, parking, etc). This is a terrible idea. For one, you...