Your Questions Answered: How to Price Your Event
There’s no magic number to nail the right ticket price. But there are strategies you can use to get close.
Ticket pricing is a bind all event creators experience. And like many event planning challenges, it takes experimentation, market research, and trusting your gut instincts to get pricing right.
There’s no magic number to nail the right ticket price. But there are strategies you can use to get close. Whether you host a large food festival, a small workshop, or a bar crawl, your event has real value — and this guide will help you find a price that reflects it.
In the ebook, you will find:
- How much you need to charge for your bottom line
- How to benchmark your value against the competition
- How to use discounts and ticket tiers to sell out your event
Three foundational strategies to price your event
A smart pricing strategy is essential to driving a profit. But choosing the right strategy can be one of the more stressful parts of organizing an event. Here are three foundational exercises to help you determine the best price for your next event.
1. Create demand with discounted prices for new events
One truth about hosting events: You have to know your basic costs to price effectively. After all, you need to make at least enough to cover your costs for your event to be sustainable. But there are some strategies that might cause you to challenge this assumption. When you’re first starting out, you might need to lower your price to get the buzz you need.
“We started off at a lower number when we first offered our classes,” says Susie Martin, co-Founder, It’s for Charity! Events. “Once we saw the popularity, we slowly raised our prices until we found a good spot. It was experimental.”
Whether you organize yoga classes, networking workshops, or large conferences, it takes time to build demand for your event that justifies a higher price tag.