People love discounts – it just makes them feel like they are getting a bargain or making a better investment decision then if they were paying full price. The most common form of discounting when it comes to events is the Early Bird Discount i.e. the discount you benefit from as a reward for booking early for an event.
Let’s have a quick look through the advantages of having an early bird discount:
It gives your potential attendees a reason and an incentive to book early. From your perspective this means that you are benefiting from an increase in cash flow early on in your campaign which is very important for any event.
When faced with a last minute decision people are more likely to opt out of a purchase rather than opt in mainly due to life getting in the way. If you already have tickets for an event you are more likely to make the effort and go, even if you are tired or do not really feel like it.
On average 60% of delegates sales are carried out before the early bird deadline. Of course, this will vary from event to event but it will help you work out what income you will be getting when and what your final numbers are expected to be.
Once someone has signed on for your event they are more likely to tell their friends or colleagues and spread the word about your event
As the organiser you will be able to be more organised with your delegates, not just in terms of numbers but also in terms of communications to the delegates, information on audience to the speakers and other preparations
Early bird discounts generally vary from 25-50% depending on the event and your budget. Have any details available as soon as your marketing campaign starts so that you are able to provide one unified message to your target audience.
