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Pricing Strategy Bootcamp 3-Part Webinar Series

  • 11 Mar 2021
  • 1:00 PM
  • 25 Mar 2021
  • 2:00 PM

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    Session 1 (March 11th) - 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

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    Session 2 (March 18th) - 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 25th) - 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.



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