Multi-tier Ticket Pricing for Events – Create multiple types of tickets and set different price

Events play a role in modern life, shaping our experiences and fostering connections among individuals. While multi-tier ticket pricing for events is one of the essential components to make the events profitable. 

In this blog, we will cover everything related to multi-tier ticket pricing for events. Starting with the basic questions, we will share how you can set multi-tiered pricing for your next events. 

Without further ado, let’s get started!

What is Multi-tier ticket pricing?

Multi-tier ticket pricing or tiered event ticket pricing refers to the system that brings the option to set multiple ticket prices in a single event. 

Due to the multiple factors like types of access, addons, extra services, certification, and so on, events demand multiple types of pricing. 

Tiered pricing is the feature to add multiple-tier ticket pricing on events. For example, event participants may ask for VIP access with some extra options, and students may ask for discounts. In this scenario, ticketing will be VIP, Regular, and Students.

How to make the Best of Multi-Tiered Ticket Pricing?

Here let’s look into how you can make the best of multi-tiered ticket pricing.

• Analyze participants: To make the most out of the multi-tiered ticketing, event organizers need to analyze the potential participants. Also need to review what you can offer as a whole. Look closely on, what will be the add-ons and extra options for the attendees and so on.
• Re-check costing: Then you also need to check all the underlying costs for each attendee. Once they have all the analysis, organizers now need to calculate the total cost in perspective of attendees’ segments.
• Reliable checkout: Finally look into the payment gateways, which will be reliable, secured and attainable for the buyers. Don’t forget to look into the refund policies.

Beneficial approach of multi-tiered event ticket pricing:

Apart from calculating the average cost for each attendee. To make the most optimal multi-tired ticket pricing, the organizers may offer add-ons (if it is possible and applicable) like certificates, 1-to-1 meetings, group discussions, meals, snacks, etc. 

Another option can be added for the participants if they want to purchase the higher tier tickets on the events to unlock the addons.

After the basic discussion, you look for multi-tiered ticket pricing strategies for different types of events. So, we have added specified strategies for in-person, virtual, and hybrid events in this section.

Event Ticket Pricing Strategy for In-person Events

For in-person events, pricing can be different. You can offer early access with some extra discounts. It is possible to offer a VIP tier that contains multiple extra services. 

Let’s see the possible extra service for in-person events.

• Seating Area: Adding different seating areas for different ticket holders. Like the VIP, VVIP area and the student areas.
• 1-to-1 Meetings: After the events, users may talk personally with the selected speakers.
• Certification and meals: Participants may get a certificate as an acknowledgment. Food and snacks may be provided during the break time of the events.

Event Ticket Pricing Strategy for Virtual Events

Like the in-person events, virtual events may have tired ticketing. And here also you can offer multiple options. But nature is different from in-person events.

• VIP Access: For virtual events, VIP attendees may get the chance to ask questions during Q&A sessions, join from a hassle-free gate, etc.
• Meetings: Virtual events may host some one-to-one meetings. TimeticsAI is a great tool to handle meetings. And the best part is, it’s free for basic features.
• Certification: PDF certification can be added to online events.

Event Ticket Pricing Strategy for Hybrid Events

Hybrid events are a combination of in-person and online events. So the pricing strategy can be the combination of both extra services. Or maybe it’s possible to prepare a double tier for online and offline participants.

Maximize Profit for Ticket Pricing Strategies

Understanding the needs of participants is the key to making marginal profits from events. No matter whether it’s an online event, offline, or hybrid, you just need to know the demands of the users. 

Once you know it, make addons as extra services and bring them under tier ticketing. You are ready to go because participants will move to the topper tier to unlock the extra services.

🎉 Bonus: 3 More Multi-tired Ticket Pricing Strategy Tips!

1) Avoid creating too many tier prices: To make better profits, multi-tier ticket pricing is one of the best options. However, offering too many tiers may create confusion. So, it’s better to keep a maximum of 5-tiers in ticket pricing.

2) Add a small note for upgrade: While tier pricing is better you must explain what more participants will get for upgrading the tier. 

3) Set up easy payment gateways: Make the ticket payments easy so that potential participants can pay very easily. Multiple payment options are better for the events. However, the Stripe payment gateway can be added easily if you use the Eventin event management plugin.

Multi-tiered Ticket Pricing Strategies for Event Success

To get more revenue and organize a profitable event requires a multi-tiered ticket pricing strategy. Especially, as an organizer, you need to break down the whole event and prepare the pricing plan.

So, here’s what you need to do step by step:

1. Determine Your Event’s Value

Know what’s the actual value of your event. What will be the insights, who are the participants and speakers of the events and where will it be hosted? Calculate everything together to understand the value of your events.

2. Uncover Your Event’s Value

Know what’s the actual value of your event. What will be the insights, who are the participants and speakers of the events and where will it be hosted? Calculate everything together to understand the value of your events.

3. Ticket Sales Tactics

Once you have the value and key options, prepare the addons as an extra service. And market them through tired ticketing. Let’s make them stand out so that participants can know what they are getting.

4. Ticket Pricing Strategies for Virtual Events

To sell tickets easily, make the payment easier and tiring for different types of people. You can also use regular marketing and growth hack tactics like BOGO offers.

5. Where and How To Sell Tickets To Your Events

For the virtual events, marketing should focus on influencers and industry leaders. People follow and join those events that have influencer participation. 

Sell Out Your Events With Eventin Event Management Plugin

Attendees is one of the popular platforms for hosting events online. You can create and manage event details there and sell tickets. If you have single events then Attendees can be your option. Easy to get started and hassle-free to manage.

Thinking about where you’re gonna get that? Here’s the magical button we’ve put here for you!

FAQs About Multi-tier Ticket Pricing for Events

Got some quick questions about event ticket pricing? In the following section, we have added some frequently asked questions along with direct answers. If you haven’t found your answer about ticket pricing, contact us. We will update the section soon in the future.

Q 1. What Is the Best Method for Pricing Event Tickets?

There are multiple methods you can follow to get the best results for tier ticket pricing. Depending on the event type, the best methods may differ from each other. For physical events, seat area-based tier ticketing is one of the best methods. For the hybrid events, physical attendees should get extra charges as they will cost more from the host. For online events, depending on the participant’s requirements, multiple tiers may be introduced.

Q 2. How do you set a price for an event?

To set the best price tires for an event ticket, you first need to analyze the potential participants. Then we need to segment the participants into different categories. If there are possible multiple category participants then tier ticketing is a good option. However, if you want to keep it simple, then single-ticket pricing is also fine. Depending on the spending calculation, you can set the final pricing of the tickets.

Q 3. What is a dynamic pricing model?

The dynamic pricing model is a special-tier ticketing system in which prices change based on ticket sales. For example, if an event has 1000 tickets, the first 150 tickets maybe 25% off, while the next 600 are the regular price, and the last 250 tickets will have 40% extra charges. With the increase in sales, pricing has changed in the above example.

Q 4. Why Offer Multiple Types of Event Tickets?

Every event has different types of participants with different needs. Some may want VIP access, while the students may ask for discounts. To give everyone the best experience, multiple types of event tickets have been introduced. 

Q 5. What is tiered pricing?

In simple terms, Tiered pricing is an option that brings multiple types of tickets in a single event. For example, events may have 500 total tickets of which 100 tickets are for students and the rest for regular attendees. So tired will be 100 student tickets and 400 regular tickets. 

H2: Last Words About Tired Pricing Tiers

If tiered ticket strategies are managed correctly, which is easily done with Eventin’s multi-tier ticket price features, it can increase your earnings and keep potential participants tuned in to your updates. With the additional revenue, you could also spend more on marketing and the event experience, creating a premium brand that is less price-sensitive and more loyal because of the quality you deliver. 

Ending Note

We hope you have enjoyed the blog about ticket pricing. Now go ahead and apply multi-tier ticket pricing with Eventin for your next events. Would you like to read some more words about event management? You can learn about virtual events with Zoom, how to automate recurring events, and event management using a QR code! Incorporating a pricing tier into your sales strategy is one of the opportunities to make extra revenue. So choose any strategy that sounds right for you and your event. And also, share this blog on your favorite social media with your friends.