OWN YOUR WORTH WITH TICKET PRICING
A topic that has been super prevalent in our world of late is fair pricing in the events world. We have had the absolute honour of working with some AMAZING local businesses on their events and time and time again we witness their nerves and anxiety when trying to set a ticket price. Currently there is a huge push in the market for events, they are HOT because it is that next step in connecting with your audience and lets be real, they’re a crapload of fun. Events hold so much value in giving your audience a ‘Brand Experience’ [more on this in another post] and then connecting with your tribe one on one, there’s really nothing quite like it.
So this leads me to the point of STOP PRICING YOURSELF SO DAMN LOW! Do you know that quote floating around Instagram at the moment that basically asks the question ‘Why are we willing to spend $200 on a Beyonce ticket but question paying $40 to support a small business?’. Given the current state of flux with events in the market place, it is super important that we price ourselves fairly because this is setting the bar for not only yourself and your business but everyone else in the market to host an event. By setting your price at a point that is fair and honours your time and energy, you are giving others permission to do the same. This also energetically places your event in the right space to be a success, rather than stressing about how much you’re going to be out of pocket. Fake it till you make it, the little devil on your shoulder may be telling you that your event isn’t worth it but let me tell you IT IS and the world deserves your sunshine. Like attracts like. By pricing your tickets low, you also need to sell more to break even, so better to price higher and sell less tickets the first time around, then to price so low that you need to cancel when you don’t get the numbers.
The second part to this is for the consumers out there… If you see a cool event that you know would benefit you, then buy a ticket. Don’t wait until the last minute - get the ticket NOW! Consider it your good deed of the day because you have just made someone very very happy. I don’t know about you but I very rarely walk away from an event feeling uninspired or dissatisfied, in fact most of the time I walk away on a high from learning new things and meeting new people. Events are a beautiful thing, so get along to some, put it on the to do list because it is so so worth it. A friend of mine, Kirsten Morrison, an incredible life coach that I have had the pleasure of working with, wrote this beautiful quote the other day that really sings to this.
“More for someone else, doesn’t mean less for you. It’s important to support those around you -EVEN if they do something similar to you. What’s for you, won’t miss you. Your people will find you. Cycle that supportive energy around.”
Now to wrap up I thought I would include some words from the beautiful Sam, from The Well, who has experienced the crushing feeling when you don’t think ticket sales are going to make it but has also hosted some killer SOLD OUT events.
“When we first started The Well we literally did no research into how to price an event. We put $20 on the ticket and then had to work sooooo hard to fit the event and our overheads into the budget. And it was stressful but also maybe taught us a few things about budgeting at the same time. Learning to work within tight margins was great for us. However, we got to a point really quickly where it was going to be impossible to continue. So went and spent a good chunk of time playing with our budget (hilarious for me who dropped maths in year 11!) and modelled a few options. Where we landed was to keep it affordable for our audience and to allow us some breathing room to allow for unexpected costs. Because not giving yourself the ability to pivot and be flexible in small business is often the kiss of death.
We are happy with our ticket prices for both us as a business and for our community. It’s about finding that middle ground and making sure you are staying true to your core values and guiding principles-for us it’s about honesty, inclusivity and transparency. “
If you need some help putting together an event strategy that will give you the confidence to succeed, sign up to the wait list for our new service suite ‘The Party Squad’ - launching early March.