Discounts: All The Options You Have
We know that over 50% of tickets don’t sell until the week of your event. Ok, the grand reveal: Half of your ticket sales don’t come until the week of the event, and I can speak from personal experience–that’s pretty stressful!
And knowing is half the battle. How do you win this war of procrastination and get people to commit to going? Well, by giving people incentive to buy now.
Enter: THE DISCOUNT.
Here’s the thing about discounts: you need to use them in the right way for them to be effective. What do we mean by this? If people aren’t willing to pay the cost of a ticket, your event strategy is wrong. Discounts should get people to buy more tickets or buy earlier, not lower the perceived value of your event. Here are all the options you have:
Give influencers a personalized discount code they can share out with their networks. We recommend writing personal emails to send these discount codes out. They can use this discount code however they like: to invite their friends, to promote their own agenda, or to award their fans. Basically, you are getting other people to do the marketing for you and those people should be rewarded.
Early Bird Tickets
If someone is willing to commit to buying a ticket way before the event, you should offer them a discount. Often, early bird tickets are sold before the entire event lineup is announced. Having a bunch of early bird tickets sold helps put your mind at ease when you go to pay for deposits and finalize your event budget.
If a group of people buys tickets, the amount of marketing you need to do to sell the rest of the tickets is reduced. By saving money on marketing, you can pass that money on and give a group discount.
The Introductory Price
Offer first time event goers a discount on one ticket type only. They’ll get to check things out at your event, and you’ll keep price integrity for the rest of your ticket types.
Limited-time Upgrade Discounts
Think of this discount as a way to get people to level up. When people go to buy a regular ticket, offer a discounted VIP ticket right below it. They’re getting a better ticket and you’re getting more money from that event goer.
If you have an event series, you can bundle tickets in for your future events in with current events. Offer people a discount if they buy a ticket to your next three events. If they commit to being a loyal event goer (and at the same time give you some cash for operating costs), they totally deserve a deal.
Advertise Day-Of Prices
This one’s the opposite of a discount. You know when it’s raining outside and $5 umbrellas are suddenly $20? The perceived value of a ticket is higher when people are standing there waiting for the event to start. Advertising at the door prices beforehand gives people the head’s up that yes, when they need to pay, that price will be higher.
All of these discount options are available to you, but don’t offer them all up at the same event. Use one or a small combination of them to kick your sales into high gear.