If it’s your first time hosting a Get Active Fundraising event, you may be wondering how much you should charge for someone to attend your event. There are a few things to consider when you’re selecting your pricing scale, and this simple guide will walk you through it.
The right registration price should reflect the value of your event and help you reach your fundraising goal. The pricing scale should be easy to understand, and your deadlines made clear. Offering online registration will boost overall sales all while making it easier for your participants to register. Follow these guidelines below, so you’re prepared to host your event.
First, let’s start with a “basic registration setup.”
The simplest way to set up your registration fee is to offer two ticket types: group members and non-group members.
You can see that members will receive a discounted price to help encourage their involvement. Getting the students/members of your organization to attend your event should be the primary priority. Non-member pricing covers anyone outside of the organization who wants to join such as the members’ parents or avid runners looking for a fun time. Your member pricing can also extend to teachers, administrators, and anyone else at the organization who is looking to get involved.
MUST HAVE #1 an early registration fee and a late fee. Why? An increase in price will ENCOURAGE early sign up. People who sign up early tell other people. The price increase between your early and late pricing needs to be significant enough to where it entices participants to register early. We suggest no less than a $5 increase. Your deadline for early registration can be based off a select date, or you can choose to offer early pricing to the first X number of participants who register. Be strict and precise with your deadlines, and you will see the positive response.
If you have more than 12+ weeks to promote your event you can include one more level of registration. REMEMBER the more people you can get to sign up early; the more significant your event will be! Don’t stress about taking on fewer dollars for your early sign-ups. The majority of events gather the most participants within the last five weeks leading up to the actual event date.
*Note: Most events do not start before 12 weeks but if you’re ready to go we do encourage you to do so, and the Early Bird Pricing will get people interested! Taking the basic setup a step further would likely include a line for Children to register. For those 5 and under, we suggest you offer FREE admission (with no promotional items included).
MUST HAVE #2 group pricing.
Another way to encourage sign-ups is offering group pricing for families. Larger events tend to draw large groups and/or teams that would like to register together. Offer a special rate so large groups, families, or companies who are interested in attending the event can make it happen.
Knowing how much you’d like to raise from your event is a great starting point for selecting your prices. You know your cost to us is $12.50 per participant, so anything you choose to charge over that amount is going to be 100% your profit to keep. On average, the starting registration price ranges from $25-$35 and increases by $5-$10 for late fees. The exact pricing you choose is up to you. Take your demographics into account and the additional activities you plan on having at the actual event itself. If you’re offering other activities, pre and post-race, participants are going to be more likely to see the worth in the price of admission.
Remember: don’t start your pricing too low, you can always offer discounts later. Flash sales are a tool that can be used to boost participation and can be listed as a percentage off or dollar amount off. The key with flash sales is to drive registration in a short period so don’t let the offer run for too long, or there will not be any urgency for the participant to take advantage of the deal.
Correct pricing for your event is crucial to hosting a successful fundraiser. If you still aren’t sure how much to charge, your Get Active Fundraiser FUNdrunner will be there to help you figure out all the details.