Early-Bird Tickets: The Virtue of the Scarce
Every good event organizer should think about how to attract as many people as possible and increase their sales. And early-bird tickets are one way to do that. But how to set them correctly?
What are our goals when organizing an event?
We all might have different objectives, though surely we could summarise them in 3 general ones when talking about professional events:
Create an attractive programme
Bring as many attendees as possible
Get nice payouts
They are all very related. When creating an engaging programme, we are making it easier for ourselves to bring attendees and therefore get closer to the income benefits goal.
Attracting the attendees
That’s the key. We create the event’s content thinking about what will attract the chosen audience. Then it is time for marketing, communication and public relations. Reach as many people as possible. Let them know about the existence of our event.
However, what’s the most influential attraction tool for most of us? Word of mouth. Casual chats. Become trending in conversations. Our friends are our favourite influencers.
The earlier you attract the audience, the more this audience will grow before your event takes place.
Science, Oxytocin and humankind
Who does not like offers, discounts, and exclusivity? Put it in one word: opportunity!
Research studies conducted by Dr Paul J. Zak (Professor of Economic Sciences, Psychology & Management) resolved that discounting leads to large (and measurable) reductions in physical stress levels and increases in levels of Oxytocin, a hormone responsible for happiness and pleasure levels.
A well-presented discount is an opportunity for our audience to gain an advantage from a product/service. We would be bringing them the feeling of “happiness”. Of course, for a limited time. 😉
Early-bird tickets: The virtue of the scarce
So, what have we been talking about so far?
Word of mouth
Exponential buyers growth
Well, there is one easy action that would bring all these aspects together. Set up Early-bird tickets.
What advantages will it bring to our event?
A promotion is a lovely topic to communicate about our event. Who does not like to be informed about some good news? 😉
Early-bird tickets are “the opportunity” for your visitors and yourself. You are announcing to everyone: “Ey! See what an incredible chance you have here. Attend my event with this amazing discount. In exchange, you will spread the word resulting in more people coming. But remember, the opportunities are always limited both in time and amount. ”
It is a win-win non-written agreement.
WORD OF MOUTH
Once the early-bird tickets start selling, the word-of-mouth miracle will begin to spread its magic. Who will they tell about it? Their friends. And who are the best advisors in our lives? Our friends….
EXPONENTIAL BUYERS GROWTH
Abracadabra… 6 early-bird tickets become 40 people interested in coming to the event. Also, those referred friends are more likely to buy tickets, even when the offer is not there anymore, since they want to share the experience.
It is not only a matter of price anymore, but it is also about an event to enjoy with friends and we all would pay a little more to share experiences with our friends.
Setting up good early-bird tickets
Of course, each event has its circumstances but, generally, we can agree on these aspects as the basic ones when setting up the “opportunity” for your audience.
The earlier, the better - more time for the word-of-mouth magic process and exponential audience growth
Limited in time - i.e for just 2 weeks
Limited amount of tickets - i.e. only 50 tickets
A real good deal - the difference with the regular ticket price should be visible
So, are you ready to offer the“opportunity” to your audience? Because you also share the same three goals we agreed on at the beginning of this article, don’t you?
BOOM Events support
Would you like us to help you to set up a tremendous early-bird ticket strategy for your event? Just contact your BOOM Events personal assistant and let’s create it together.
Not a BOOM Events organizer yet? Really? Well, contact us, and let’s solve that little problem quickly. 😉