Charity Event Tips: How Much Should You Charge for a Ticket to Your Event?
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 fundraising, kitty fund, primarily social, etc.) everyone plays a role in determining what your event admission should cost. To help you decide how much to charge for your next event, you can check out the following three templates.
1. If you’re planning a gala gala at an exclusive venue with live entertainment, dinner, an open bar, and a celebrity guest or guests, statistics show that within a price range of $15 to $300, most charitable attendants are willing to pay between $100 and $150 per person. Even in today’s economy, most people are comfortable paying this money, but charities should remember that these events are some of the most important 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 ticket price for Class A venues.
2. If you’re planning an exclusive cocktail party at a popular venue with past appetizers, a DJ, and an open bar, statistics show that most people would prefer a $75 ticket to the event. However, the range starts at $50 and goes up to $100. Because of this wide range, your charity should be leaning towards value for money. 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 hour-long open bar after-work event, statistics show that ticket prices range from $15 to $50, with a $25 pet charge. However, as with previous models, charities should be inclined to set a higher price for profitability.
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 discounted tickets for Young Professionals, especially through online ticketing services. By offering discount tickets to event attendees under the age of 30, you’re covering your costs, filling seats, and indoctrinating a new generation of philanthropists into the thrill 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.
