Event Marketing Basics: What is Early Bird Pricing?

Being early has its advantages. You get your first choice of seats. You get to enjoy a quiet, less crowded space temporarily. And sometimes…you get the best deals!

You might have heard of early bird pricing before, or maybe you’ve even tried it out yourself once or twice. But for event organizers, what is early bird pricing exactly? How does it work? When should you use it? And more importantly, when is it not a good idea at all?

Let’s dive into the mechanics of early bird pricing and to get the most out of this promotional strategy. 

What is Early Bird Pricing?

Early bird pricing is a promotional strategy where an event offers a discounted rate for tickets to customers who purchase it well in advance of the regular sales period. The goal is to incentivize early purchases, helping the company gauge demand and secure initial revenue. It typically comes with a set deadline, after which the price returns to the regular rate.

Events aren't the only industry that uses early bird pricing. It's often used in travel and hospitality as well as the tech industry, when a new product launches. 

Why Should I Try Early Bird Pricing?

Early bird pricing offers several benefits to both event organizers and ticket purchasers. Here are the key advantages:

Benefits For Your Event

1. Increased Early Revenue: Offering early bird pricing can help generate revenue early in the sales cycle, providing cash flow that can be used for planning, marketing, or operational needs.
2. Better Demand Forecasting: Early bird sales allow businesses to gauge interest and demand for their events. This can help in making more accurate forecasts and planning resources accordingly.
3. Reduced Risk: Securing early sales can reduce the financial risk associated with organizing an event. It ensures a base level of participation or sales, making it easier to plan and execute.
4. Increased Marketing Buzz: Early bird pricing can create a sense of urgency and exclusivity, driving word-of-mouth and social media buzz. This can lead to increased awareness and interest in the offering.
5. Customer Loyalty: Offering early bird discounts can help build loyalty among customers who appreciate the opportunity to save money by purchasing early. This can lead to repeat business and positive referrals.
6. Capacity Management: For events specifically, early bird pricing helps organizers manage capacity and make necessary arrangements in advance, such as venue size, staffing, and supplies.

Benefits For Your Customers

1. Cost Savings: The most obvious benefit for ticket purchasers is the opportunity to purchase tickets or products at a reduced price. This can make your events more accessible to a wider audience.
2. Priority Access: Early bird customers often receive additional perks, such as priority seating, early admission, or exclusive access to special features or content.
3. Peace of Mind: Purchasing early can provide peace of mind, knowing that their participation is secured and they won’t miss out on limited-availability items or events.
4. Increased Engagement: Customers who commit early are often more engaged and invested in your event. This can enhance their overall experience and satisfaction.
5. Avoid Last-Minute Stress: Early bird pricing encourages customers to make decisions and plans ahead of time, reducing the stress of last-minute purchases or sell-outs.

How to Use Early Bird Pricing 

1. Planning 

   • Define Goals: Determine what you want to achieve with early bird pricing, such as increasing early sales, gauging interest, or boosting initial cash flow.
   • Set Early Bird Period: Decide the duration of the early bird period. This could be a fixed number of days, weeks, or until a certain date. It’s essential to communicate this clearly to potential customers.
   • Determine Discount: Decide on the discount percentage or amount that will make the early bird pricing attractive. Ensure it’s significant enough to incentivize early purchases but still maintain profitability.

2. Setup

   • Passage makes it super simple to use early bird pricing for your event. There are two ways you can do this on our platform, depending on your preferences:
   • Promo Code: Create a promo code for any percentage or dollar amount off your normal ticket price, and set it to expire on the date you choose. You can allow promo codes to be used on all ticket types or just specific ones. For example, you may want early bird pricing to be available for general admission, youth, and senior tickets, but not VIPs. The promo code method gives you maximum flexibility and control. 
   • Ticket Type: You can also opt to create a separate ticket type for early bird pricing. This works best for events with a simple ticket setup. If you normally have just one general admission ticket type, for example, this could work for you. 
     • The advantage to having a separate ticket type as your early bird promotion is that every ticket purchaser will see this option when they land on your ticketing page. This can incentivize quick purchases, but also means giving every ticket purchaser a discount, not just those who see your advertisements. 

3. Marketing and Promotion

   • Announce Early Bird Pricing: Use various marketing channels to announce the early bird pricing, such as email campaigns, social media, website banners, and promotional events.
   • Create Urgency: Highlight the limited time frame and the benefits of purchasing early to create a sense of urgency. Phrases like “Limited time offer,” “Save X% by purchasing now,” or “Early bird tickets running out fast” can be effective.
   • Highlight Savings: Clearly show the difference between early bird prices and regular prices to emphasize the savings customers will get by purchasing early.

4. Sales and Distribution

   • Set Up Sales Channels: Ensure that your sales channels (e-commerce site, ticketing platform, etc.) are ready to handle early bird pricing. This might involve setting up discount codes, special pricing tiers, or dedicated landing pages.
   • Monitor Sales: Track the progress of early bird sales. This data can provide insights into customer behavior and the effectiveness of your marketing efforts.

5. Transition to Regular Pricing

   • End Early Bird Period: Once the early bird period ends, switch to regular pricing. Make sure this transition is seamless and clearly communicated to avoid confusion or customer dissatisfaction.
   • Follow-Up Marketing: Continue marketing efforts to encourage sales at regular prices. You can use the success of the early bird period to build credibility and excitement.

Tips for Effective Early Bird Pricing

1. Clear Communication: Ensure all promotional materials clearly state the start and end dates of the early bird period, the discount offered, and any additional benefits of purchasing early.
2. Limited Availability: Consider limiting the number of early bird tickets or products available. This scarcity can drive quicker purchases.
3. Additional Incentives: Besides discounts, offer extra incentives for early birds, such as exclusive content, priority access, special seating, or bonus items.
4. Customer Reminders: Send reminders as the end of the early bird period approaches. Highlight the urgency and the impending price increase.
5. Feedback Collection: After the early bird period, gather feedback from early purchasers. This can provide valuable insights for future promotions and improve customer satisfaction.

When is Early Bird Pricing Not a Good Idea?

While early bird pricing can be highly effective, there are certain situations where it might not be the best strategy. Here are some scenarios where early bird pricing may not be suitable for your event:

Guaranteed Sell-Out Events

If your event is in high-demand and likely to sell out quickly without any discount incentives (e.g., a highly anticipated concert or limited-capacity exclusive event), early bird pricing might not be necessary and could reduce potential revenue.

High-End or Luxury Events

For luxury events or premium offerings where exclusivity and prestige are key selling points, discounting the price might devalue the perceived quality and exclusivity.

Short Lead Time

When your event has a very short amount of time from announcement to occurrence, there may not be enough time to implement and benefit from early bird pricing. A good rule of thumb is to end early bird sales a few weeks before your event is scheduled to begin. If you have less than two weeks until your event date, an early bird sale might not be right for you. 

Complex Pricing Mode

If your event already has a complex pricing structure (e.g., tiered pricing, membership discounts, group rates), adding early bird pricing can complicate the sales process and confuse potential attendees.

Cost Constraints

If you already have a tight budget and your margins are thin, offering early bird discounts might not be financially viable. Reducing prices early on could impact the overall profitability of your event.

It’s Overused in Your Local Area

In a market where competitors frequently use early bird pricing, doing the same might not provide a competitive edge for your ticket sales. Consider alternative marketing strategies to stand out.

Final Thoughts

Early bird pricing is not a one-size-fits-all solution and may not be suitable for every event. This strategy involves careful planning, effective marketing, and seamless execution to maximize its benefits for both businesses and customers. By creating urgency and highlighting the value of early purchases, you can drive early sales, improve cash flow, and build momentum for your next event.

Need some help setting up early bird pricing for your next event? Schedule a call with a Passage event expert. We'd love to help!