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Aug 20
2019
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Event Ticket Pricing

Corporate event ticket pricing is a balancing act between attracting attendees and covering expenses. Tickets priced too high will cut out some attendees and tickets priced too low will find you struggling to break even.

Estimate Costs

There are certain expenditures that every corporate event entails. The venue, food and transportation are fairly easy to estimate if you have an idea of the number of attendees. Try to have detailed estimates from everyone you are hiring, such as caterers, security and shuttle services. The more accurate the quotes the better prepared you are to make a decision on pricing tickets.

Know the Event Market

Before you can decide on a ticket price you will need to know a little about your event’s demographic, if there are similar events nearby and how your event is unique. Who is potentially coming to your event? Why would they come and who will be paying their way?

Is your event open to the public or exclusive to industry professionals? Why would people want to come to your event? Offering a free service, consultation or a presentation by a well known celebrity could be a big answer to the “why.” As for who will be paying for the tickets, an employer will usually pay for an event open only to industry specialists. If the event is open to the public, a professional organization or the attendee will generally be paying.

Do some competitor comparison. Did a rival just put on a similar event? What did they charge for tickets? What will your event offer that your competitor’s did not? If your geographic area has a lot of similar events it will be important to offer something unique, such as one on one sessions with an industry specialist or extra product demonstrations.

Early Bird Sales

Early bird ticket sales is a common practice for all kinds of events that offers savings to event goers who can commit to attending far in advance. Choose a date the early bird sale will end and decide on the number of tickets available at the lower price. Prominently display the end date and how many tickets are left to nudge potential attendees to buy their tickets now, because no one wants to miss out on saving money.

Offer Exclusive Experiences

Extra experiences such as a breakfast before the event, an autograph signing session or freebies like books and logo shirts can often spur event ticket sales by cultivating a feeling of exclusiveness. These extra experiences can be built into the ticket for the main event or you can offer extras for an additional upgrade. If you offer a lavish pre-event breakfast or post-event networking dinner where the cost could be significant it would be wise to make these experiences an add on to regular ticket prices.

There is a lot to think about when setting corporate event ticket prices, but knowing your demographic, budget and what makes your event unique will make the decision easier.

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