Conferences, concerts, festivals, fundraisers, sporting events, fun-fairs, workshops, there are events of several magnitude. In any such event, what matters the most is the pricing and the revenue generated out of the ticket sales which directly indicates or helps in determining the event on the barometer of success or failure.
If you belong to the events industry, you must have definitely come across events which get sold out in matter of minutes while others that can barely reach up to the breakeven point.
There are a few events which the enthusiasts are always looking forward to and a few others that barely attract any eyeballs. No marks for guessing that all event organizers want their events to figure in the former category.
If you have not already worked out an event success formula we can help you. Listed below are the aspects that you absolutely must consider to have your event all sold out like a hot cake.
Quality of Event
– Prospective attendees always measure an event by the quality of content it comes with. A content rich event for eg: rock concert showcasing an International celebrity packed with entertainment or a talk by a reputed speaker will gain a wider audience than otherwise.
– A lot of back and forth, thought and reflection, goes into pricing the event right. If you plan to deliver an exceptional event, you can command a premium for the same.
– The timing of your event is of utmost importance. Keep a tab on the other events happening around the same time and make sure that your event does not coincide with any other major event happening on the same day, which might eat up your share of registrations or ticketing.
– Organizers need to ensure that everyone is going back with better learning, some good networking and loads of fun.
Value for Event Attendees
– Each event has a particular unique selling proposition. If your event is in sync with the latest trends it will attract more attendees for e.g. a candle lit romantic dinner will bring more value to the buyer on Valentine’s Day than during the Diwali season.
– Ruby Conf India taking place on 15th March , is India’s most sought after event and the tickets this year got sold out in less than 24 hours flat. The ticket sales for this developer event was so swift that many people thought a message to join waitlist was a technical error. Last year the same event was sold out in less than 2 days. An event that provides value for money has better chances of making quicker sales. The key reasons has been that RubyConf India provides very high learning to its attendees.
Event Tickets Pricing Strategy
– To ensure quick sales you must price your event right. Early bird offers a good incentive on the ticketing/registrations. Depending upon the type of event and its content the organizers must price it appropriately. If the event is priced too high it might cut short on the revenue generated from ticketing/registrations, and if it is priced below a certain point, it may prevent people from taking your event seriously.
– Take a cue from the pricing and sales of similar events that have been organized in the past, it will certainly help you with the correct pricing strategy for your event.
– Popular events that are talked about stand better chances of getting sold faster than other events. Start marketing your event as soon as your basics like venue and flow of events is ready. Start by sending teasers and disclosing small but sensational aspects of your event. Market your event’s USP and gain some much-needed traction. Marketing your event right will make it popular in relevant groups and you could even fetch some group registrations.
These bits of insight will help you achieve your target registrations in the quickest possible time.
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