I’m going to be hosting a lot of events in 2024, so I’ve been asking myself: how do I get people to pay for tickets so my events are profitable?
I believe the key lies in communicating the exceptional value a potential ticket buyer could gain.
Consider asking them, “How much is it worth it for you to meet the co-founder who could help you launch a highly successful startup? Or to connect with that lead seed investor, vital for securing the rest of your funding round? What about the value of finding a lead engineer essential for kick-starting your product?”
This is about more than just networking; it's about being in rooms that could be amazing investments for attendees’ futures.
Look at the World Economic Forum. It costs $56,000 annually to join, with tickets to their Davos summit reaching up to $27,000 per day. People pay these high prices because being in that room could be the difference between making millions or making nothing. It's a basic value exchange.
The prospect of meeting individuals who can contribute to your success, potentially to the tune of millions or even billions, is a powerful motivator. With all this concentration of wealth and talent in one place, a savvy networking can leverage these connections for substantial gain.
When it comes to events that offer more than just entertainment, like educational or networking opportunities, the value derived - be it knowledge or relationships - must justify the cost.
Smart people have no issue spending money if they can see a clear path to making more than they invest. That's the cornerstone of convincing someone to purchase a ticket for an event.
It's about ensuring the ticket price is dwarfed by the potential return.