Why on earth would you let your guests decide how much to pay for your event?
It might seem crazy, but research has shown that people will actually pay more than the sticker price when offered Pay-What-You-Can (PWYC) pricing. Let’s talk about this.
I think Pay-What-You-Can pricing is an underrated tool that too many event organizers overlook. It’s not just for nonprofits. Events of all shapes and sizes can use this savvy pricing technique to not only generate more revenue but also to build stronger connections with their guests.
How do you do that? I’m glad you asked!
It might not be practical to offer your general admission tickets as PWYC; you need to cover your costs for hosting the event. But there are so many ways you can incorporate this clever pricing strategy. Here are five of my favorite ways that I’ve seen events use PWYC pricing successfully. I bet there are a few you would never have thought of!
If you’d like to learn more about how PWYC pricing works, check out our other blog posts on this topic:
- How to Use Pay-What-You-Can Pricing on Passage
- Pay-What-You-Can Tickets: Are They Right for Your Event?
1. Pay-What-You-Can for Exclusive Merchandise
Instead of fixed prices on merchandise like t-shirts, posters, or albums, let your fans and attendees pay what they can. This approach can be a fantastic way to clear out inventory, especially after an event, and it allows your most enthusiastic supporters to give a little extra. For-profit events can use this to strengthen their connection with fans, turning a simple transaction into a memorable interaction.
With Passage, you can set a minimum amount for Pay-What-You-Can pricing, whether that’s $1 or $50. It’s completely customizable. And you can customize that amount for each piece of merch. For example, allow guests to pay anything over $7 for a t-shirt or $2 for a poster. Sure-some folks will choose the minimum price. But you might be surprised by how generous your supporters can be if you give them the chance!
2. Tiered PWYC for "Best Seats in the House" Lottery
Create excitement and a sense of fairness by offering a limited number of premium seats through a PWYC lottery. All attendees who purchase a regular ticket can enter the lottery by paying an additional PWYC amount. This gives everyone a chance to experience the event from the best seats, regardless of their budget, while generating additional revenue from those willing to pay more for the chance to win.
You can give guests an additional incentive to pay a bit extra by donating the PWYC lottery proceeds to your favorite charity, or by letting them know that all PWYC revenue benefits the artists performing at your event. Making the impact tangible is a proven strategy to increase PWYC donations.
3. PWYC for Workshops and Skill-Sharing Sessions
If your event includes workshops, classes, or panels, consider making them PWYC. This is a great way to encourage participation and make your event's educational content more accessible. For-profit conferences or festivals can use this to gauge interest in different topics and speakers, and it can lead to more attendees discovering a new skill or passion.
Again, this is a great way to use the minimum-pricing function with Passage’s PWYC pricing. If you want guests to commit to paying at least $8 per seminar, for example, you can set that minimum and allow them to pay any amount over that.
4. "Pay-What-You-Can" for a "Community Night" or Preview
For multi-day events like festivals, theater runs, or concert series, you can designate a specific performance as a "Pay-What-You-Can Community Night" or a "PWYC Preview." This strategy helps to fill the house on what might otherwise be a slower night, build word-of-mouth marketing, and attract a more diverse audience that might not be able to afford your regular ticket price.
5. PWYC for Digital Content and Livestreams
In today's hybrid event landscape, offering PWYC for a livestream of your event or for exclusive digital content can be a powerful tool. This allows you to reach a global audience and provides an opportunity for those who can't attend in person to support your event. You can also offer a PWYC option for a recording of the event after it has concluded, creating an additional revenue stream.
Final Thoughts
Let’s be honest: Pay-What-You-Can pricing can be scary at first. By asking your guests what they think your event is worth, you risk being undervalued. But in reality, events that use PWYC actually generate more revenue than those who use only flat-rate pricing.
By thinking outside the box, event organizers like you can leverage pay-what-you-can pricing to not only increase accessibility and build a stronger community but also to create new and exciting revenue opportunities.
Need some help setting up PWYC pricing for your next event? We'd love to help! Schedule a call with an event expert who can do all the heavy lifting for you.
