We all know it’s not cheap to put on events, and in most cases it costs to attend an event for most delegates.
But exactly how much does it cost to attend your Conference?
It’s not unheard of for Conferences to costs thousands of pounds to register.
But how do you justify the cost of attending your event to your delegates?
You can use the tried and tested “Why attend” section on your website with bullet points of the key selling points of the event. The savviest of organisers will have a pre-defined lists to each of their target market, with clear ROI calculations on what the cost of attendance will give the attendee.
Perhaps you’ve worked out the cost of attending competing events and positioned your event as the cheapest of the events to attend?
If the event is a yearly event, it’s wise to ask if delegates thought that the event was “Value for Money” and if they felt what they learnt or experienced was worth the registration fee.
So your budget is set, you feel the cost of the price is not outside of your target audiences budget. The Conference is also the cheapest event to attend out of all the competitors and there are plenty of testimonials and points explaining that the cost of the registration fee is nothing compared to what the delegates will take away from the event.
But no-one is registering for your event!
Have you worked out the “Value for Time” of attending your Conference?
If you are asking Directors, Head of Departments, Surgeons or Team Managers to attend your event their time is more precious than their budget.
People are busy, very busy and Conferences require a commitment away from the workplace where most of us actually perform our job.
To be quite blunt, you can always make more money, but time is something you are always in short supply of.
Therefore if you are asking a Sales Director to dedicate two days of his busy week to attend your event, then you need to respect the fact that is a huge ask. More important than budget, than quality of the lunch, that persons time can be spent in a thousand different ways. Unless your event is worth that persons time, it won’t matter how cheap (or perhaps even free) your Conference is to attend.
Now without a monetary budget in mind take a look at the quality of your events speakers, the networking opportunities and ask your target market whether your Conference is worth two days of their time.
- Are your speakers internationally renowned, or are they re-hashing that same seminar they’ve delivered for years? Have you asked your delegates who what they’d like to learn, or have you told them?
- Are you providing opportunities for your delegates to meet who they want to meet? Why not look at providing opportunities for delegates to network before the event with tools such as Cocconex?
- Do you understand when your target market is at their busiest? For example most Sales Managers and Directors will not be able to attend an event on the last day of the month as this is when they compile their sales figures.
If your event provides clear learning opportunities that can’t be found easily elsewhere and delivers opportunities that cannot be achieved through other means in that same amount of time;
Then you have an event that people will pay almost anything to attend.