What's your formula for setting conference registration fees?

1 Know your costs

The first step to setting conference fees is to estimate your total expenses. This includes fixed costs, such as venue, speakers, catering, marketing, and staff, and variable costs, such as materials, travel, and refunds. You can use a spreadsheet or a tool like Eventbrite to track your costs and categorize them by type. Once you have your total costs, divide them by the number of expected attendees to get your break-even point. This is the minimum fee you need to charge to cover your costs.

2 Set your goals

The next step is to define your financial and non-financial goals for your conference. Do you want to make a profit, break even, or subsidize your event? Do you want to maximize attendance, reach a specific audience, or create a high-end experience? Your goals will influence your pricing strategy and help you determine your target margin. For example, if you want to make a profit, you can add a percentage or a fixed amount to your break-even point. If you want to attract more attendees, you can offer discounts, early-bird rates, or tiered packages.

3 Research your market

The third step is to research your market and competitors. You need to understand what your potential attendees are willing and able to pay for your conference, and how your event compares to others in your niche. You can use surveys, interviews, or online tools to gather feedback and data on your target audience's preferences, needs, and expectations. You can also look at similar events and their pricing, features, and value propositions. This will help you position your conference and set a competitive and realistic price.

4 Test and adjust

The final step is to test and adjust your pricing based on the results and feedback you get. You can use analytics, surveys, or feedback forms to measure your registration rates, conversion rates, satisfaction levels, and profitability. You can also experiment with different pricing strategies, such as dynamic pricing, bundling, or upselling, to see what works best for your conference. You should monitor your performance and adjust your fees accordingly to optimize your outcomes and meet your goals.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?