The first step in determining ticket prices for your event is to do market research. Let's look at the three best ways to find a good starting point for your ticket price.

1. Determine your budget

You cannot make a loss unless you have other sources of income. Use your event budget to figure out how much you need to earn to make a profit (or at least cover your costs).

Tip: Read our guide to managing your event budget to help you with your calculations.

2. Determine the value

Ask yourself how much your target audience would be willing to pay for an event. How much should a business professional pay to attend a networking event that could lead to sales?

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3. Look at supply and demand

Your event budget and estimated value are both subject to the law of supply and demand. The easiest way to calculate the average ticket price for your type of event is to find a reasonable base price.

You can also see what competing events are charging for their tickets. Then lower your ticket price to compete with them, or raise your price if you want to appear more exclusive.

In any case, you should work with one of the many ticket sales platforms and look for the category that best suits your event. You will be amazed at how much valuable insights you get from this.