How Much Should You Charge For Your Event? A Seminar Pricing Strategy

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I asked the people who signed up for the “Why Aren’t They Registering For My Seminar?” webinar what their biggest questions were. I answered them on the live webcast, but I know that more of you are struggling with this, so I have decided to answer them here on the Event Strategies blog.

Several people asked:

How much should I charge for my event?

seminar pricing strategyExcellent question, because your seminar pricing strategy is an important part of your overall event strategy. Of course I can’t tell you exactly what to charge, since every event is different. However, I can tell you what to base your pricing structure on.

Value of Your Event

The first thing you need to think about is the value of what you are giving your audience. What is it worth to them to learn the solution to the problem they are having? What would it cost them if they didn’t have this information? The bigger the problem, the higher price you can command.

Generally, you can solve bigger problems in longer events, so that has to factor in as well. However, if you are just adding another hour or day to fluff up your price, forget about it. There are 1-day events for $47, $147 and $447. It is not about the length, but about the value you are giving.

Back End Strategy

Another big factor in determining your price is your backend strategy. Your back end strategy includes your back of the room sales and the offer you are making your attendees. You teach valuable content that your attendees can use now to move their business or their life forward. When you do that, you also have to give them the next step. If you do not make them an offer, you leave your audience hanging.

In every workshop there are people who are ready to delve deeper into your topic. They may want help implementing your content, or maybe they have mastered this material and are ready for the next. Why would you not give them that opportunity?
Your backend strategy is where most of the money from your event should be made.

If you have a great program that you want your attendees to enroll in and it is more important to have butts in seats, so that you have more people to enroll, you can lower your price or even offer them for free.

In this case, you definitely should know how to close from the stage and know what your average close rate is. Do 30% of attendees opt in to your program, 50%? Or do you have no idea? If you host free workshops, and aren’t any good at presenting your offer, you have a recipe for disaster and are going to lose money on your events.

To charge or not to charge

I am not a big fan of free workshops, just because you can get a lot of tire kickers. I believe that if you charge even a nominal fee, you improve the quality of your audience. People value what they pay for more than things they get for free. At any rate, be sure that you let your audience know the VALUE of your workshop, even if you are not charging.

While I speak in general terms here, this is something I get into in my mentoring program as a part of your personal event marketing strategy. Interested in getting your own personal event marketing strategy and plan together? Apply for an Event Strategy Breakthrough Session with me at http://talkwithdaphne.com.

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Daphne Bousquet, CMP

Daphne Bousquet, CMP

For more strategies to make your workshops and seminars more profitable, you’ll want to pick up a copy of the free report "Three Simple Secrets To Making 10K In A Day With Small Workshops." Daphne Bousquet uses her 20+ years of event industry experience to create profitable event strategies and marketing for coaches, entrepreneurs, speakers and self employed professionals that want to grow their businesses with workshops and seminars. She is the creator of the Butts In Seats Virtual Boot Camp, a unique digital course that teaches you how to fill your events with your ideal audience.
Daphne Bousquet, CMP
Daphne Bousquet, CMP
Daphne Bousquet, CMP

Comments

  1. Daphney, I agree with you. When I started my teleseminar on How to Write a Book to Brand Yourself, we put out several free ones to get big numbers for opt-in list. After gettng 100’s of people on the call that did not turn into clients or book buyers, I decided to only do nominal fee teleseminars. I love the two experts interviews that use both data base lists. I also market heavily on SM at LInkedin, especially.Most of my business audience will invest $20-$30 on a quality event presented by experts.

    Yes, it ‘s the value of your book or seminar that counts. Why undervalue yourself?

    • Daphne Bousquet, CMP says:

      Yes, it ‘s the value of your book or seminar that counts. Why undervalue yourself?

      Great point, Judy! And yes, the two expert interviews are a great strategy. I need to start doing more of those. I have a few experts in mind that would be so perfect for my audience and would deliver a lot of value.

      Thanks for stopping by the blog and leaving your 2 cents. I will see you around LinkedIn (fabulous tool!) and hopefully back here soon!

  2. MIchelle says:

    I came to this site to get an answer as to what I should charge. I already assume what you wrote in the post. I needed an actual dollar amount with actual examples to base my prices on.

    • Daphne Bousquet, CMP says:

      Hi Michelle, thank you for stopping by. I can’t actually give you a dollar amount, because it depends on so many different factors, including your strategy. Front end, back end, etc… It is not a simple, “If this, then charge that, or if that, then charge this.”

      However, I would be happy to set up an event strategy consultation with you. You can apply at http://talkwithdaphne.com.

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