Pricing is one of the most important aspects of putting on a successful event, which is why selecting the right pricing strategy is key. When choosing a pricing strategy, it’s important to keep your audience and brand identity in mind. Whether your event has multiple sub-events or one marquee event, Race Roster offers three pricing strategies to fit the unique needs of your event.
1. Block Pricing
Block pricing consists of set prices that update as your pricing blocks sell out. This strategy allows you to tier your pricing based on event demand rather than a specific date and time. Prices jump automatically when the predetermined thresholds are met. Since the pricing changes on the fly, it’s a great way to create urgency, encouraging more registrations early on.
2. Scheduled Pricing
Scheduled pricing automatically updates prices based on your scheduled dates. Over time, the price of your sub-event will increase. Tiered pricing, as it’s commonly referred to, also drives registration early on as it encourages your potential participants to register before the next price hike.
3. Fixed Pricing
Fixed pricing maintains a consistent price for the entire duration of registration. This method is often used by events that commonly sell out their registration, or by smaller events where all proceeds go towards a local cause. Since the price does not fluctuate over time or spots remaining, it allows your participants to register for the same price at any time.
When it comes to selecting the right pricing strategy, it’s important to know your available options so you can evaluate which one will work best for your event, as one size does not fit all. If you have any questions about Race Roster pricing strategies, we’re always here to help.
Ready to get started with pricing strategies? Check out our knowledge base article on setting up a new pricing strategy.