The Black Friday Mistake

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Between Black Friday and Cyber Monday, the sales flew fast and furious.  To the benefit of just about everyone, because the business offering the sales made money and the people buying the sales saved money.  Everyone is happy.

So the question becomes, would a Black Friday type sale work for your seminars as well? After all, it would be a great way to sell some quick tickets, right?

Discounting Seminar TicketsAnd when your event is just weeks away and the panic is starting to set in because you haven’t sold enough tickets, lowering your ticket prices is a very tempting prospect.

Recently, I have seen more of these event ticket fire sales.  A few weeks before the event, all of a sudden tickets that were $997 are $97. And that is the Black Friday mistake.

The problem is that this severely affects your event’s value and your reputation.  Suddenly, your event doesn’t seem as attractive to the people who bought  a ticket for $997 or even $497 (at a $500 early bird discount). Your clients start to wonder if that is actually worth it.

And they definitely won’t be buying a higher priced ticket from you next time.  No, they will wait till the last minute when you lower the price.

In addition, they will hesitate to buy anything in the back of the room.  After all, that price may drop too, if you don’t get enough sales at the end of the event.  It becomes a vicious circle.  One that drops the value of your seminars, products and services lower and lower.

3 Tips For Offering A Sale On Your Events

That said, offering a deep discount is a great strategy to get butts in the seats quickly.  Here are 3 tips for offering a sale on your workshops and seminars.

Sell Discounted Tickets At Your Current Event

When your attendees are at your seminar and their heads are flush with the great material you taught, and the wonderful connections they made, that is the best time to make an offer for your next event at a great discount. This discount is exclusive to current attendees only, so it makes your audience feel special.  They just had a great experience, they can’t wait to repeat it and you are offering them that chance a great price.  That is creating a win/win situation.

After all, the discount is worth it to you to get early commitments and start selling out your event. Your marketing will be much easier if you can begin your campaign and half your seats are already gone.  It will be easier to plan your logistics and negotiate your venue.

The First 48 Hours

When you launch your event, offer a 48 hour “deep discount”.  This can be for your clients only, or to all your subscribers.  Make sure that the discount is deep enough and the window is short enough that your audience can make a quick decision.

Keep It Profitable

Know how much you can discount your tickets by.  For that you have to know your hard costs per person.  You don’t want to offer a ticket for less than it will cost you to have that attendee at your event. Make sure that you make a profit even with the discounted price.

When you keep to these 3 sales strategies, you can create a win/win for you and your audience.  You sell tickets to your event early and your attendees get a great deal.

Like these strategies and want to get more?  Schedule an Event Strategy Breakthrough Session with me and create an event strategy that will get butts in the seats and money in your pocket.

 

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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. My four daughters are the best doggone bargain hunters this side of the moon! (Can’t imagine where they acquired that kind of talent) 😉

    However …

    When it comes to small business owners extending deep discounts for their events or other offerings, you’ve delivered up some fine and dandy advice, Daphne! All three sales strategies are spot on.

    As far as discounts in general …

    One of my biggest pet peeves are people who put a certain (really high) dollar value for an offering on their sales page and then draw a line through it and put the actual cost right next to it.

    Who are they kidding?! Do they think we’re THAT stupid?

    Sometimes it becomes very obvious that something isn’t worth nearly what their “crossed out” price is. I don’t mean to be mean, but that sort of thing really insults my intelligence.

    It’s one thing to hold a special “sale” (birthday, seasonal, whatever) and drop the price on something for a limited time. It’s another thing, entirely, to deceive people.
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