This episode is why it's best not to discount events. The better way to go is add value.
Why not to discount:
1. Discounting affects peoples’ value perceptions. When you pay less for something, especially due to a price that’s been “reduced,” you see less value in it.
2. You set a precedent that you will always be open to providing a discount.
3. Think about if an attendee knew someone paid $250 for a ticket and someone paid $100. You want to be fair and think about your community as a whole.
4. By offering discounts, your primary focus is on price rather than the value of your event.
5. Finally, you lose money by discounting which could be put back into your event to increase the value and the special things you do at the event.
How to add value instead of discounting
1. Do a drawing for all those that register by a certain date.
2. Provide a group offer so attendees are incentivized to bring more people and you increase your event attendance.
3. Extend the value of your event through pre and post event.
4. Add an upgraded ticket option.
5. Create additional ways for attendees to connect and learn on the content that will be shared at the event.
Thanks for listening and supporting small business and our community! I would love to connect with you at https://www.instagram.com/eventivebrush, in our private Facebook group where we continue the conversation and in our newsletter where we share event planning tips and advice to grow your business and build community. You will receive an email with the "Steps for Planning a Business Event" as soon as you join the party!
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Sarah Brush
EVENTive Brush
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