Set the Right Event Ticket Price to Maximize Sales

5/27/2021

How much should you charge for your event tickets? That’s a question every event organizer asks themselves! Set the prices too high, and you might deter sales; too low, and you won’t cover overhead.  Though it’s tempting to use last year’s event ticket prices, resist! Many event costs (including marketing, refreshments, talent, and staff fees) may change year to year, and using last year’s ticket prices may not adequately cover the cost of producing the event.

In an attempt to make the lives of event organizers everywhere a little bit easier, we’ve created the below event ticket price calculator. Plug in your event’s particulars, and it’ll give you an idea of how much to ask for your event’s tickets.

Event Ticket Price Calculator
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What to Consider When Setting Your Event Ticket Price

Target profit

This is the amount of money that you would like to have when the event is over, not counting the money you had before the event began. By changing this value it is easy to find out how much more the tickets would have to cost to earn an additional $X at your event.

Cost for tickets

Everything costs money and printed tickets are something that you are going to have to pay for. It is possible to offset the ticket costs by signing up a sponsor and printing their ad on the back of your tickets. This box should contain the total that you will end up paying for your tickets to be printed and shipped to your location.

Number of events

How many times will the event be held? This box is for the total number of individual events that you are holding.

Cost per event

From facility rental to paying ushers and performers, costs add up. This box should contain the total expenditure of an individual event. When this sum is multiplied by the total number of events it will be the total event cost of the production.

Number of seats per event

It is always a good idea to know what full capacity is for an event. This will prevent the fire marshal from becoming involved in your event. Do not worry about how many tickets of that total you will sell right now; just enter the total number of seats in the box.

Percentage of tickets to be sold

Some events are lucky enough to sell out every event. Notre Dame Football, for example, has sold out of tickets for every game but one (1973 vs Air Force over Thanksgiving weekend) since 1963. Most venues are not so lucky and are best served by a guess as to what percentage of the tickets will be sold before the event. 80% would correspond to selling 4 out of every 5 tickets.

The event price calculator will then generate the ticket price for your event. Eventgroove recommends that you round the ticket price up to an even number. With currency, that can be to the nearest Quarter Dollar amount instead of the nearest dollar if you prefer.


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