How do you price your online event tickets and packages?

1 Know your audience

The first step to pricing your online event is to understand your target audience and their needs, preferences, and budget. Who are they? What are they looking for? How much are they willing to pay? How do they perceive the value of your event? You can use surveys, interviews, social media, or analytics tools to gather this information and segment your audience into different groups based on their characteristics and behavior. This will help you tailor your pricing strategy to each group and offer them the best value proposition.

3 Know your value

The third step to pricing your online event is to determine your value and competitive advantage. How do you differentiate yourself from other online events in your niche or industry? What are the benefits and outcomes of attending your event? How do you deliver quality and satisfaction to your customers? You can use these factors to justify a higher price or a premium package for your online event, as long as you can communicate them clearly and convincingly to your audience. You can also use testimonials, reviews, ratings, or awards to showcase your credibility and reputation.

4 Know your options

When pricing your online event, exploring your options and alternatives is the fourth step. You do not have to settle for a single price or package. Different pricing models and strategies can be employed to suit different scenarios and goals. Early bird or tiered pricing can be used to encourage early bookings and generate cash flow, while discount codes or coupons can reward loyal customers or attract new ones. Bundles or add-ons are great for upselling or cross-selling additional products or services, and pay what you want or donation-based pricing appeals to a wider audience or supports a cause. Lastly, membership or subscription pricing creates recurring revenue and retention.

5 Know your market

The fifth step to pricing your online event is to research your market and competitors. You should know what other online events are offering and charging in your niche or industry, and how they position themselves in the market. You should also know the demand and supply of your online event, and how they fluctuate over time or season. You can use this information to benchmark your price and adjust it according to the market conditions and trends. You should also monitor your sales and feedback to measure the effectiveness of your pricing strategy and make changes if needed.

6 Know your goals

The sixth and final step to pricing your online event is to align your price with your goals and objectives. What are you trying to achieve with your online event? Is it to generate revenue, increase awareness, build relationships, or something else? How do you measure your success and performance? You should set realistic and specific goals for your online event, and use them as a guide to evaluate your pricing strategy and decisions. You should also track and analyze your key metrics and indicators, such as conversion rate, attendance rate, retention rate, revenue per attendee, customer satisfaction, and return on investment.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?