Back to How-To

Organize an Online Conference

0% Complete
0/43 Steps
  1. PSA Day Organizers' Due Dates
  2. Getting Started
    9 Articles / Instructions
  3. Support for Speaker Senseis
    2 Articles / Instructions
  4. Support for Registrar Ringmasters
    2 Articles / Instructions
  5. Support for Moderator Managers
  6. Support for the Exhibitor Executive
    5 Articles / Instructions
  7. Support for Chief Technical Help Officers
  8. Sponsors
    1 Article / Instruction
  9. Getting ready for the big day
    5 Articles / Instructions
  10. The day of the the event
    3 Articles / Instructions
  11. Other Resources
    1 Article / Instruction
  12. Recordings of previous Drop-In Hours
    1 Article / Instruction
  13. Trial Run
    1 Article / Instruction
Organize an Online Conference Getting Started Determining conference fees
In Progress
Topic 2, Article / Instruction 7
In Progress

Determining conference fees

Topic Progress
0% Complete

Determining how much to charge for your event can be difficult if you haven’t previously run a similar event. Charge too much and you risk making the event too expensive and you may not sell enough to cover your expenses. Charging too little means that you have missed the opportunity to make money and even worse you have undervalued the worth of your event in your audiences’ minds. To figure how much to charge do the following:

Do the math

  1. Create a budget by estimating your expenses or how much it will cost to present your event including the cost of online hosting, presenters, entertainment, marketing, staffing, administration, memberships, registration, and include a contingency amount of 10-30% of the overall budget.
  2. Total your expenses.
  3. Approximate how many attendees you hope to attract. Even better create a low, medium, and high attendance number.
  4. Divide your total expenses by the minimum number of attendees that you hope to attract to calculate a per person price. By using the minimum number of attendees you have calculated a break-even price or the amount that you will need to charge to cover all of your expenses. Once you have registered your minimum number of attendees you will begin to turn a profit.
Example: $10,000 in expenses รท 100 attendees = $100 registration fee
 

Do your research

Look at similar events and find out how much they charged. Once your have an idea of what you would like to charge ask your target market what they would be willing to pay and what they think of your pricing.

You can’t increase, but you can decrease

You can’t increase your fees after they have been set but you can always offer discounts if you find that you have set your fees too high for your audience. It is safer to set your prices a little high and potentially make more money rather than set your prices too low which can undervalue your product in the consumers’ mind and may result in not covering your costs.