Growing your revenue is no easy feat. Beyond covering your basic expenses, if you plan to grow your event, you need to make sure that you are making enough to scale — without compromising quality and potentially losing future attendees.
To help you make more revenue upfront, we turned to our Senior Customer Success Manager, Shirene Niksadat. In our exclusive customer webinar, she doled out her best tips for event promotion, add-on and email strategy, and more. Watch the full session here, or read on for the top takeaways.
By using multiple ticket types, you can reduce no shows, inspire FOMO in potential attendees, and attract previous attendees to buy again. Plus, every time a potential attendee sees a “sold out” notice for a certain ticket type, it will increase their urgency to purchase other available tickets while they still can. When building your ticketing plan, Shirene advises you to consider these two strategies:
Tiered packaging represents different experiences at your event. Standard ticket delineations are as follows:
- General admission
- Early Entry
Pro tip: not sure about the appeal of Early Entry? “An attendee who values shorter lines and the appeal of being a first-comer might spend a little more on this offering while your expenses stay virtually the same,” says Shirene.
Tiered pricing is where you charge different prices for the same experience. This strategy incentivizes thrifter attendees to purchase sooner. Standard ticket delineations are as follows:
- Pre sale
- Early bird
- General onsale
- Last call
Something to consider when you create your ticket types is the visibility of your ticket options.
While allowing attendees to see the various ticket options (even if they aren’t available yet) can create a sense of urgency, keeping them hidden gives you the flexibility to adjust prices based on demand. Each tier, according to Shirene, should be available for one to two weeks.
With Eventbrite’s Add-on feature, you can offer additional streams of revenue in addition to tickets, whether that be merch, VIP upgrades, or more. Not only will your attendees appreciate a streamlined event experience, you will have more opportunities to increase revenue — without the hassle of managing multiple purchasing sites.
“Add-ons can be differentiator between your event and other similar events,” says Shirene. And don’t worry about the additional revenue stream messing up your event capacity — in Eventbrite, Add-on purchases will not affect your headcount. An additional bonus of using Eventbrite’s Add-on feature is that attendees can purchase during the ticketing process. Think of all those candy bars you have picked off the shelves during a trip to the grocery — add-ons can inspire a similar impulse-buy effect.
Here are some common Add-on options:
- Food and drink vouchers
- Special area or early access rights
- Meet and greets and other experiences
Another great thing about Add-ons is that online sales will enable you to be more prepared for demand on the day of your event rather than ending up with a pile of extra shirts or not enough parking passes!
Promotion is a multi-layered beast. However, if you break it down, it can be tackled with finesse. Here is Shirene’s high-level overview of a professional promo strategy, plus her top piece of advice about each segment:
“Perhaps you’re looking to expand your event to new audiences and increase your marketing lists. Whatever your event goals are, be sure you identify them and ensure that that they’re measurable so you can track your progress.”
Create ticket tiers
“Think about who your attendees are and what they care about. Then try to identify a simple value addition like early entry or exclusive VIP access — things that could deepen the event experience for them.”
“Whether you’re throwing an event for the first time, or bringing back a successful event from another year, doing some competitive analysis is always a wise move. Try to get a sense of what similar events in the area are charging before you determine your ticket prices.”
Determine rollout timing
“Standard sales cycles are anywhere from eight to fourteen weeks, depending on your event and previous on-sale cycle durations. You need that leeway to effectively tease, launch, and promote. If you’re going to offer ticket tiers, plan for each tier to be available for 1-2 weeks. It’s also important to make the time limitation clear to drive urgency.”
Designate attendee segments
“We suggest sending a segmented email to your list of previous ticket buyers to let them be the first to know about any presale opportunities. Not only does this reward your most loyal fans, it can also be used as an incentive drive email capture.”
Choose your channels
“Pro Tip: Create a marketing and communications calendar to map out what needs to be executed on each channel, each week so that you can plan ahead.”
Tap partners, vendors, and sponsors
“Create a template and partner activation kit that includes your event details and relevant links. Approve creative and pre-scripted content that your partners can simply copy and paste into their own social posts or emails. Not only does this activation kit increase the likelihood that partners will post about their involvement in your event, it also ensures that only correct and pre-approved links and details are being shared. ”
Measure results and optimize
“If you see certain ticket types selling faster than others, it may be worth offering a targeted discount on underperforming tickets. If partner codes aren’t being redeemed, you can request that they be promoted again or through different channels.”
Up your revenue with advice you won’t find anywhere else
Want to watch the full webinar for the whole story on making more revenue upfront? Check it out here.