“EG Tips” – How to Set Your Ticket Price

“EG Tips” – How to Set Your Ticket Price

Are you happy with your event’s ticket price? Are you confident that you couldn’t be charging more — or that you shouldn’t be charging less?
Finding the perfect ticket price is a tough nut, and very few organizers feel 100% confident that they’ve cracked it.

Today, you may be using a “cost-plus” strategy to price your event. You price above your costs, based on the profit margin you need to hit. If your event costs you $100 a head, and your goal is a 10% profit margin, you price at $110. But this overlooks the most important factor in event pricing: your attendees.

Your Pricing Strategy

Your attendees are the final decision-maker — they will pay for a ticket, or they won’t. And the costs of putting on your event don’t matter to your attendees. Neither do your profit margins. People decide to attend your event based on a simple, very human question: Will this event be more valuable than its price?
To use this to logic to your advantage, you should evaluate your pricing strategy based on three factors: perceived value, the actual price, and the cost per ticket for the event.

  • Perceived value is the value your attendees associate with your event. This isn’t just about your event’s offerings — it will depend on your competitive set, your attendee demographics, and the way that you position your event.
  • The actual price of your ticket. This may be more or less than the perceived value. If your price is above the perceived value of your event, you’ll struggle to sell tickets. If your price is below the perceived value, it will seem like a great deal.
  • The per-ticket cost of putting on your event. These fall into two categories — “fixed” or “variable.” Fixed costs aren’t affected by the number of people who attend your event (such as the cost of your venue). Variable costs change as the number of attendees increases (at a catered event, the cost of food will probably be variable).

Setting Your Initial Price

You know that you want to hit the sweet spot: low enough that you’re below the perceived value of the event (which makes your ticket price appealing), but high enough that you aren’t leaving money on the table. And while I’d like to give you a magic formula, there are simply too many factors at play. Your attendee base might shift, your biggest competitor might introduce a new perk, or your speaker might be featured in a reality TV show…and suddenly that perfect price isn’t perfect anymore.
The best approach is, as it is in so many cases, to test and iterate. That said, you don’t have to shoot blind. To make the best possible estimate, start here:

  • Research your competition. A basic Google search will yield results, but don’t stop there. Study their Facebook and Instagram accounts, their paid search results, and their event listings.
  • Calculate average price points. How are similar events in your area priced? Knowing what you do about your customers, take a look at other events they might attend — what’s the average price point there?
  • Study their pricing strategy. Are your competitors using “tiered” pricing, displaying the number of remaining tickets, or using any other strategies to stimulate sales?
  • Identify ways that these competitive events might raise (or lower) their perceived value. Do these events devote entire photo spreads to their artisanal food vendors, or hype their opening act with exclusive interviews? How are they highlighting amenities, perks, their location, or even the type of attendees their event attracts?
  • Set your initial price based on this research, your understanding of your customer and your event’s positioning strategy. For example: if the average price of similar events in your area is $100, but your event is uniquely attractive to students, you might set a lower base price (or a special student discount) of $80. If you’re torn between a slightly lower and a slightly higher price, err on the lower side — as I’ll explain in the next section, you can always adjust over time.

Adjusting Your Ticket Prices

It’s fairly common for events to set a lower initial ticket price, which you increase as tickets run out. There are many reasons to do this — it helps generate ticket sales, it helps you understand demand for your event, and it creates ambassadors for your event when you need them most. People like to attend events with friends, so once they’ve committed to tickets, they’ll encourage their friends to buy.
Typically, successful organizers on Eventbrite increase prices 3-4 times, “triggered” by different milestones. You might wait until a ticket type sells out: if you’re selling 500 VIP tickets, you might sell the first 100 at $199, and then next 400 at $249. You can also opt to increase prices based on tickets on a set date — and make sure event-goers know your plans to do so. Announce that prices will increase each week leading up to the end, and you’ll drive sales boosts right before each price increase.

In Conclusion

While there’s no “perfect” price for your event, there is a smart way to build your strategy.
Position your event as the best possible value to attendees, and find ways to demonstrate that your event is a better value than other options — including a weekend watching Netflix.

(Social Coup LLC)

“EG Tips” – So You Want Bloggers at Your Next Event?

“EG Tips” – So You Want Bloggers at Your Next Event?

We are witnessing a new rise of influencers on various social networks.

Despite all the positives about getting a Twitter, Instagram, Facebook or Pinterest power-user to attend or report about your event, nothing beats hosting bloggers.

Let’s look at some reasons why inviting bloggers to your next event may be a good idea…

Why Bloggers?

If you are looking for tangible PR results, it is tough to match the impact of a blog post.
Why? Mostly because of the impact blogging has on search.
You may want to invite bloggers to your event because they are usually social networks power users. We are hell of early adopters.

Proper bloggers will share the hell out of their blogpost on Instagram, Facebook & Twitter.
Therefore you definitely hit two flies with one swatter.

A further reason is that you’ll earn trust. Bloggers usually speak their mind and their readers tend to trust them. The good news is that social proof immediately extends to your event in case of favorable feedback.

Inviting a blogger does not mean you’ll get a positive review or live blogging. Being accommodating, getting them freebies will not result in positive feedback if your event is, well, not great. This is if you invited proper bloggers. Average bloggers’ opinions can be shaped. Top bloggers recognize the good from the bad. And blog about it.

If you are still with me and decided to get bloggers to attend your event, here is how to do it.


A rule of thumb is to invite only relevant bloggers to attend. If your event is about fashion, you want fashion bloggers. You get the picture? Make sure they also reflect the tone of voice of your event. Read their posts and watch their language. In order to understand who to invite, think in terms of:

  • location
  • reach

You may want to reach out to local bloggers first, as getting them to come from the other side of the world may have a budgeting impact.

In case you are undecided on whether it is worth it, look at the blogger reach to make a better decision.
Pro-bloggers know the size of their audience, their geographic location and so forth.

If you do not want to ask for this data overtly you can use external tools to understand the influence of bloggers in your industry.

Treat Bloggers as Press

Sometimes the readership of a blog is twice the size of any other industry magazine. The quality of that readership is usually pristine. It’s earned through the years, it’s there waiting to listen. It’s not a list of contacts bought on the Internet. Create a blogger status and give it the same benefits you give to press. Here are some important reminders that will help you to win bloggers’ hearts:

  • Having a dedicated space. A bloggers lounge or area.
  • Having a dedicated fast connection to upload pics, posts etc and, in general, wifi at the event.
  • Having an operating position (it can be a beanbag with an ethernet or wifi connection and most of all electricity plugs)
  • A Tweet Wall with tweets to check out what is being said
  • Have some sort of relationship with official channels (Twitter accounts, Event Blog) depending on the event. This can be anything from guest posting to rating content.

Getting in Touch

Communication is key with bloggers. They like to feel as VIPs. Maybe they aren’t but they like to feel like that.

A lot of bloggers started a blog because they were rejected by the journalism world or by an industry ecosystem. Bloggers reputation is earned on the ground with a lot of sweat, posting and coffee. They want recognition of that.Therefore the only tip I can give is to have a personal approach, get to genuinely know the blog (mentioning the last post doesn’t work) and be nice. Despite this halo of celebrity, real bloggers are approachable and always respond to genuine requests.

In Conclusion

Inviting bloggers to your next event is a great idea. It helps your SEO, it increases your social reach and gives you a whole new authoritative image. Try to treat bloggers as rock stars but make sure to select the right bloggers. Location and reach will help you. When in doubt, ask around. Embrace the benefits of getting bloggers to attend your next event and remember to throw a great show, this what ultimately counts!

(Social Coup LLC)

7 Techy Ways to Entertain and Engage your Audience

7 Techy Ways to Entertain and Engage your Audience

Technology plays an integral role within today’s event industry. Every event now uses technology in the form of event apps, event websites, digital signage, presentation graphics, digital check-in and more! Technology can be used, not only to save time and paper, but to engage and connect audiences and really personalize an event.

Technology is a key factor within events as it helps to improve and streamline the experience for attendees, as well as encourage interaction. The result is that forward-thinking event planners are now using digital alternatives to push boundaries, personalize events and create unique experiences.

Here, we look at ways to capture audiences’ imaginations and interaction at events through the use of technology.

Create a Buzz and Plenty of Publicity

Start as you mean to go on at your event, by starting off with a bespoke wow factor experience as delegates arrive. Most event planners have heard of video mapping, even if they haven’t yet used it themselves at an event. Building projection video mapping has been used to amazing effect at product launches and by high profile brands to attract widespread publicity and make a real impact.
Using custom designed graphics and new technologies, this form of video mapping projects images on to structures or buildings with amazing effect.

Display Logos and Wow Attendees

Corporate or event logos need to be displayed somewhere, but who’s to say that you need to stick to traditional banners, backdrops or gimmicks? A stunning and creative way of displaying logos and names at an event is through the use of water, light and, of course, technology.
An information waterfall uses solenoid valves placed across the top of a huge metal structure to release water droplets in a particular pattern that spells out a word or creates an image. The whole thing uses a special computer programme to customise the experience, as well as lighting to complete the effect.

Digital Ice Breakers

Technology can play its part after guests’ arrivals or during drinks receptions to help break the ice and set the mood. Digital Caricaturists are a modern take on the traditional paper and pen caricaturists and a great way to get guests mixing and mingling.
Digital caricaturists can instantly upload pictures, email or even print them out for attendees. They can also be customized to include logos or a particular event theme.

Engage and Interact with Speakers

Technology is already used to help engage audiences during speaker presentations. Alternative ways that tablet devices can be used during talks to improve the experience include using devices to ask questions during the presentation, which will encourage an audience to participate.
Include an assistant, sat near the stage, who can scroll through questions and comments in real time so they can broach important topics during the event. Or perhaps a giant digital graffiti wall on stage for attendees to create and generate ideas and questions during the Q&A section.

Personal Edible Treats

A new creation which is taking events by storm is the Ice Pop Generator which is opening up a whole new world of personalised food and beverages. Harnessing new technologies, customised ice lollies can now be created by a new machine and can include faces, logos and more. The Ice Pop sticks themselves can even include personalised messages!
This is a concept to inspire, amaze and engage attendees as they can watch the icy treats being created.

Interactive Musical Entertainment

Another unique, technological concept is Stanley the Piano. A 21st Century digitally enhanced musical instrument that has the ability to play songs requested by attendees via social media. With a special ‘Stanley Team’ behind the scenes, this option offers a fully interactive musical experience for guests. This is musical entertainment like no other.

To dance the night away

Ipad bands are the new, ingenious way of using technology to party the night away! Professional iPad bands are emerging as the demand for event entertainment that can incorporate technology to create a complete digital event experience.
A range of instruments and sounds can be created by iPad bands to suit event themes and requirements, as well as performing a variety of musical genres. A great option for events with limited space!

In Conclusion

Technology is here to stay, so finding unique and innovative ways of incorporating digital alternatives in to events to improve experiences and push boundaries is one of the tasks facing today’s event planners.
With rapidly evolving technologies, event planners need to stay connected and informed on industry trends and new innovations in order to offer cutting edge events and experiences that will feel fresh, whilst wowing audiences.

(Social Coup LLC)