Bizzabo Center of Excellence: Data Shows Paid Events Are On the Rise
It’s data time! Let’s talk about registration for paid events. The Bizzabo Center of Excellence team is always looking into the state of the events industry, as well as data and trends #EventProfs should be aware of. Along with the rise of in-person events, paid events are back!
The number of in-person and hybrid events on Bizzabo increased 2X over the last three months compared to the three months prior. More than 25% of in-person and hybrid events have paid registration (versus 10% of virtual events). Why did the Bizzabo team find this data so interesting?
This research is based on data from paid events during the past 12 months.
Taking this information as the starting point, we dug a little deeper. Here is what we discovered.
Image text: 44% of all Bizzabo customers that hosted events ran at least one paid event.
Image text: Around 1,000 paid events (with at least one paid ticket option) launched on Bizzabo over the last three months — a 30% increase compared to the previous 12 months.
Image text: The average ticket price for paid events is $655, similar to the previous period.
The research team also uncovered some additional insights, including that 50% of paid tickets used a discount code and 75% used a discount code to get a free ticket.
Additionally, 80% of free events feature 1-2 ticket types, and 90% of paid events feature up to 20 ticket types. Why? We found that many paid ticket types are permutations of the same ticket, which derive from tiered pricing (e.g., early bird) and price variations by attendee type.
The Takeaway: Organizers Should Get Creative With Event Pricing Strategies
As we digest all of these stats, one clear connection can be made: As in-person events return, event professionals and organizers have an opportunity to get creative when integrating paid options into their ticketing and registration strategy.
More options mean that event profs can think more deeply about the attendee journey and create meaningful engagements before the event even starts.
Bizzabo believes that event professionals should be able to be as creative as they want when designing the perfect experiences for their attendees. Look out for more information on Dynamic Registration and pricing options within Bizzabo’s Event Experience Operating System (OS). Dynamic Registration is currently available for all customers holding free events within the Bizzabo Command Center and will be available for paid events soon.
Schedule a demo with Bizzabo, and see how we can help you increase paid registrations for all your events.