Pricing Strategy Bootcamp 3-Part Webinar Series

Session 1 (March 11^th) - What You Charge is Who You Are

Define the pricing problem

• Hugh’s erroneous fear of $10
• Real numbers - How much does pricing affect profitability

• • Admission vs. $1 increase
  • Admission vs. Three-Tier Pricing
  • Admission vs. Admission+Merchandise
  • Pick-Your-Own vs. PYO+Low Admission
• % change & profit matters

Reasons why pricing doesn't change

• Cheap Internal Beliefs
• Pain Aversion
• Irrational Belief In Rationality

______________________________________________________________________

Session 2 (March 18^th) - Pricing Models for Agritourism

Pricing Models & How to Use Them

• A la carte - The tyranny of choice.
• 3-Tier - Limited capacity, add to combos.
• Admission + Merchandise - Set-up to pre-buy.
• Average Sale Accelerator - Buy more than one, get a deal.
• Quantity Obfuscation - Stop selling by the bushel.
• Club Commitment Pricing - Buy this bucket, save all season.
• VIP Experiences - Let people pay more.
• Penalty Pricing - Do it now or else...

Online Ticketing & Pre-selling

• Online customer mindset

• • Your marketing has a short half-life.
  • No pressure, more purchases
  • Close the deal in "The Excited State."

• Timed-ticketing - Limit your business, grow your profits.
• • Create scarcity
  • Maintain control
  • Impulse purchases
  • Pre-spend doesn't count

______________________________________________________________________

Session 3 (March 25^th) - The Rollout

Behind the Scenes - Pre-rollout

• Choose your event/season dates.
• Back-plan your advance purchase promotions
• Make purchasing seamless & painless.
• Build and test your online sales system.
• Plan for redemption
• Check-in location(s)
• Check-in tech
• Multi-scan vs. Single scan w/coupons
• Plan, build, test, and train your on-site scanning and redemption system.

How to roll out price change communications

• Ultra-consistence communication channels
• Hide until launch
• Value overload
• Mix the math
• Overtrain and script responses

Price communication tactics

• Don't ask, don't tell - change pricing without making a big deal about it.
• Red Herring - Look at this great attraction; here's the new pricing.
• Merchandise promotion - Focus on the fruit or flowers.