I read a new e-book on event planning recently, “Eleven and a Half” by Corwin Hielbert (www.redwagonmanagement.com), and was intrigued by his discussion of pricing for events.  It got me thinking about the different approaches to pricing that I have seen our clients use, and what I have observed about the impact that pricing seems to have on registrations and attendance.  

• If your event has no fee associated with it, the number of no-shows will be higher than if you are charging a fee. 
• Time-definite pricing, i.e. early-bird pricing, does generate registrations just before a deadline, but you have to plan to several communications to your invite list to remind them that the early-bird pricing is about to expire.
• Highly segmented pricing, where you have many different pricing groups that registrants can locate themselves in (members/non-members, certified/non-certified SMB, new/returning attendee, etc), is often confusing and you may see a higher percentage of people abandoning their registration than if you simplified the pricing structure.
• Offering promotional discount pricing to generate registrations as the event gets closer may alienate the attendees who registered early.  Instead, consider an incentive to encourage already-registered attendees to register a colleague or two to join them.

This entry was posted on Monday, December 14th, 2009 at 3:12 pm and is filed under Corporate Meetings. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.