The RegPoint Team Friday June 19th 2015
Everyone loves discounts, and discounts drive sales.
RegPoint offers multiple options so you can create special offers for your customers and maximize your attendees. There are six types of discounts in particular that RegPoint can help you with in order to boost your attendance more.
1. Early-bird Discounts
This is one of the most popular discounts, especially for programs or events. This is when an event or program creates one or multiple price breaks based on registration deadlines. This creates a sense of urgency among your customers, making them feel they are saving by committing to the event early.
A discount like this can increase attendance and allows you to get registration revenues earlier. If you have a large number of early-bird signups, it also allows you to use that number to market towards the rest of the public and publicize the limited number of tickets left.
2. Group Discounts
This is another discount that is commonly used with events. Group discounts provide a price break based on the number of people that are signing up under one name. For example, this could be one person getting a discount for signing up 8 people to go to a festival or a manager getting a discount for registering 5 employees for a seminar. Either way, it is one person signing up multiple people for an event, and in return receiving a discount.
This discount makes people feel they are getting a bargain by purchasing their tickets in a larger quantity. This is also a way to fill seats faster.
3. Series Discounts
Series discounts are when you offer a discount if you buy a ticket for the entire series instead of an individual ticket for each series. For example, if you are holding five sessions about different things and you charge $25 per session, you might offer a series discount where customers can by a ticket to all five sessions for $100. Customers will usually feel like they are saving money because they are getting the fifth one for free.
This allows your customers to receive a value-added deal while you increase attendance. This also allows you to receive revenue sooner instead of prior to each session.
4. Special Code Discounts
These are discounts that are common with retail stores. Special code discounts are codes that are given to customers that can use when they check out. It may be a code that offers them x% off or $x off the regular price. These codes could also be used for the other discounts mentioned above. For example you may have a code that says use this code to get x% off when you buy group tickets of 4 or more.
These codes are considered tangible because it is something that the consumers are receiving via email, direct mail or social media. They feel valued and even compelled to look at the event more.
5. Specified Segment Discounts
Specified segment discounts are when an event offers a special discount to different demographics. There may be a discount for senior citizens, students, military or children.
This type of discount allows you to reach a demographic that your event may have trouble attracting. This will help you build a good relationship with the demographics you target.
6. Member Discounts
Organizations that offer a membership usually offer membership discounts. This encourages people to become members of your organization, and it encourages members to go to your event because they are getting a discount. Events can also offer a discount to non members by offering them a member priced ticket to increase attendance of non members. To them, that is a deal.
These are the 6 most used discounts. Some events and stores will allow customers to combine multiple discounts to increase attendance. While most registration software does not allow you to do that, RegPoint can combine as many discounts as you want.