Keep in mind that the age and socioeconomic status of your top attendees, the type of food, beverage, and entertainment your event features, and the mission of your event (major fundraiser, kitty fund, mostly social, etc.) everyone plays a role in determining what your event ticket should cost. To help you decide how much to charge for your next event, you can check out the following three models.
1. If you are planning a gala gala at an exclusive location with live entertainment, dinner, open bar, and a celebrity guest or guests, statistics show that within a price range of $15 to $300, most Charitable assistants are willing to pay between $100 and $150 per person. Even in today’s economy, most people are comfortable paying this money, but charities need to remember that these events are some of the biggest fundraisers. So set your price at the higher end of the range if you’re hosting such a nice social event. Event attendees expect a higher price of admission for Class A venues.
2. If you’re planning a signature cocktail party at a popular spot with stale appetizers, a DJ, and open bar, statistics show that most people would prefer a $75 event ticket. However, the range starts at $50 and goes up to $100. Because of this wide range, your charity should lean toward profitability in its pricing. In general, event attendees are willing to pay higher ticket prices for a charity event, because they know that higher profitability correlates with increased donations to their charitable cause.
3. If you’re planning a casual cocktail party for an after-work event with an hour’s open bar, statistics show that ticket prices range from $15 to $50, with a $25 premium charge. However, as in previous models, charities should be inclined to set a higher price to make a profit.
According to a recent market research report, charities should also consider whether they want to develop a growing attendee base for their events. If so, a great idea would be to offer Young Professionals discount tickets, especially through online ticketing services. If you offer discount tickets to event attendees under 30, you’re covering your costs, filling seats, and indoctrinating a new generation of philanthropists in the excitement of charitable giving. Many events have done this quite successfully. But above all, keep in mind that the majority of the proceeds from an event must be donated to the selected constituency. If people know they are donating to the cause and not the organization, they are more likely to attend your charity’s next event as well.