Correctly pricing an event is a delicate balance. If the price is too expensive, attendance could be low, but price it too cheaply, and even a well-attended event may not cover costs. Many events organisers are finding a solution in a tiered system of prices to balance the costs.
This system has worked well in other industries. It is common practice in the flight industry to have a basic price for the flight, with the option of paying extra to reserve a seat or upgrade the allocation. In concerts, there are usually a number of tickets such as paying extra for a good seat or even a VIP package to meet the band.
The tiered system has now been transferred to the events industry with organisers looking for optional extras which delegates may be willing to purchase on top of the basic price of attendance. One such option is better seating near the front of an audience which is becoming increasingly prevalent at conferences. Others might include a photo op or lunch with important key note speakers.
Providing tailored experiences is likely to result in a high take up. In a study by Harris Group, 72% of the younger generation prefer spending money on experiences than on material objects. Exactly what options you offer will depend on the nature of the event and the unique venue where it is held. But, choosing experiences which leave an impression will likely prove popular and attendees will be glad to pay extra for them.
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