With CUR8, you have complete control over customizing pricing for your Project or Event with many features, tools, and ticket variables available.
Setting the right ticket price for a project is crucial to ensuring financial success while balancing affordability for attendees. Whether you're organizing a high school play, a community theatre production, a local sports event, or a fundraiser, effective pricing can help maximize attendance while covering your costs.
Where do I start?
If you have questions on how to get pricing set up for your project or event, please schedule a call with us or find us in Live Chat.
Below are some general thoughts to consider when determining your ticket prices.
Understand Your Costs and Break-Even Point
Before setting ticket prices, determine all expenses associated with your project, including royalties, rentals, marketing, equipment, and any other operational costs. Calculate the minimum number of attendees needed to cover all costs and break even. This will help you work toward setting a price that allows you to break even or, better yet - support future projects/events.
Analyze Your Local Landscape
Look at comparable projects in your area, such as other school productions, local theatre performances, or sporting events, and examine their typical ticket prices. Consider how your ticket prices compare with the average range to remain competitive and accessible to your target audience.
Consider Your Audience and the Project/Event’s Value
The demographic profile of your target audience plays an instrumental role in shaping your pricing strategy. Understanding your audience’s purchasing power and preferences is the first step to creating an inclusive project pricing strategy. This knowledge allows you to customize your ticket prices to their needs, increasing the likelihood of ticket sales.
Explore Different Pricing Models
Different pricing structures can maximize revenue and attendance:
- General Admission vs. Reserved Seating: General admission tickets tend to be more affordable, while reserved seating can command a higher price.
- Early Bird Pricing: Offer discounted rates for early buyers to encourage advance ticket sales.
- Tiered Pricing: Charge different prices based on seat location (e.g., front-row premium seating vs. general seating).
- Group Discounts: Offer discounted rates for families, school groups, or teams.
- Pay-What-You-Can: In cases where inclusivity is important, allow attendees to choose their price within a set range.
- Season Passes or Multi-Ticket Discounts (Check out CUR8's Flexpasses): Ideal for theatre seasons to encourage repeat attendance.
Gather Attendee Feedback
Engage with your community, audience, school, or fan base through surveys or social media to understand what they’re willing to pay and what would encourage them to attend. Consider pre-sales to gauge demand and adjust pricing if necessary.
Adjust Based on Demand
Monitor ticket sales and be flexible:
- If sales are slow, consider promotions, flash sales, or discounts for students and seniors.
- If demand is high, introduce premium ticket options, such as VIP seating or event souvenirs.
Develop a Ticket Sales Strategy Using CUR8
Online Sales Through CUR8
- CUR8 simplifies the ticketing process by offering a seamless, user-friendly platform.
- With CUR8, attendees can easily purchase tickets with a smooth mobile checkout experience, ensuring a hassle-free process from start to finish.
At-the-Door Sales with CUR8
Consider selling tickets at the venue at a slightly higher price to encourage pre-sales and minimize uncertainty.
Marketing Channels:
- Social Media Platforms
- Email Marketing: CUR8 offers CUR8 Connect, our integrated Email Marketing feature.
- Event Listing Websites (Eventbrite, Meetup, etc.)
- Community Partnerships: Partner with local businesses, schools, or organizations to cross-promote the project/event. These can include collaborations on social media posts, flyers, or offering discount codes for their customers.
- YouTube and Video Marketing: Create engaging promotional videos or behind-the-scenes content to give potential attendees a sneak peek of what to expect from your project.