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Are you searching for the best online ticket platform with the lowest fees? In this article, we'll dive into the world of online ticketing to find the right platform to suit your event. Whether you're organizing a small event or a large-scale festival, finding a vendor with affordable fees can significantly impact your bottom line.

What is a booking fee?

Booking fees, typically included in your ticket price by a ticketing company, cover the use of their event management software and customer support services. Choosing the right ticketing platform for your event can make a huge difference to your profitability.

2 Types of Fee Structures: Percentage or Flat Rate

Below we outline two types of booking fee structures:

• Percentage of Ticket Price: Some platforms charge a percentage of the ticket price, typically ranging from 5% to 15%. This model is more cost-effective for events where ticket sales are uncertain or fluctuating. If the event doesn't sell as many tickets as expected, the fees will be lower, reducing the financial risk. However, for high-priced tickets or events that are likely to sell out, the fees can add up quickly.

• Flat Rates per Ticket: This model is more cost-effective for events with consistent or high ticket sales, especially when ticket prices are relatively high. This makes it easier to forecast expenses and potentially keep costs lower than a percentage-based fee.

Other fees

• Payment Processing Fees: These are compulsory fees added on top of your ticket price, usually around 3%, paid to services like Stripe or PayPal for handling transactions. These fees can add up, so it's essential to factor them into your budget calculations.

• Additional Charges for Premium Services: Some platforms offer premium features like advanced analytics, custom event pages, or marketing tools for an extra fee. Evaluate the value these features bring to your event and weigh them against the additional costs they incur.

Factors to Consider When Choosing a Ticket Platform:

1. Fee Structures:

When evaluating ticketing platforms, it's essential to choose one that clearly outlines its fee structures without any hidden charges. For instance, Eventbrite provides transparent pricing on its website, detailing fees for different ticket types and payment processing.

Similarly, 7am ensures transparency in their fees while also adding value by reinvesting 50% of the booking fees into targeted advertising campaigns on platforms like Instagram and Facebook. These campaigns are crafted to reach the right audience for your event, boosting visibility and ticket sales.

7am also offers email marketing to re-engage previous ticket buyers, leveraging their interest to promote your future events. This approach not only drives attendance but also builds a loyal customer base over time.

When choosing a ticketing platform, it’s important to weigh the initial costs against the promotional benefits and additional features each platform offers. The right choice can lead to more effective marketing and better ticket sales for your event.

2. Features:

Different ticketing platforms offer various features, the key is to select a platform that aligns with your event's specific needs.

Take note of all the added features each platform offers. For example, Eventbrite provides a range of marketing tools and analytics, whereas 7am might offer more niche, value-adding options that cater specifically to your event type.

Let's break down what each platform offers, feature by feature:

3. Scalability:

When it's time to pick a ticketing platform, the capacity to scale with your event's size should be a top priority. A platform that scales ensures you're equipped to manage a diverse range of events, from intimate local gatherings to full-scale festivals. The key is to find a system that maintains functionality under any demand, handling ticketing traffic with ease whether you're selling dozens or thousands of tickets.

Take, for example, a festival that starts with a modest crowd. As buzz grows, so does your audience, and what was a small event could quickly become the season's hit. You need a ticketing platform that can navigate this growth seamlessly, dealing with high traffic without hiccups.

Opting for a scalable ticketing solution provides peace of mind, guaranteeing that ticket sales, one of the most critical elements of event success, are in good hands. This means you can devote your energy to what you do best — creating an unforgettable experience for attendees.

Costs vs. Benefits: Measuring the Real Value of Your Event

When choosing a ticketing platform for your event, it’s crucial to align the features with your actual needs and conduct a thorough cost-benefit analysis.

Begin by asking the right questions about your event's requirements:

• What is the expected scale and complexity of your event?

• What level of analytics and reporting tools are essential for performance and attendee engagement?

• How important is having a customized ticket page to align with your festival's unique identity?

• What level of customer support and security measures are necessary to ensure a smooth and secure festival experience for attendees?

You might not need the full suite of analytics offered by Eventbrite if your event is smaller or more straightforward. Alternatively, 7am’s whitelabel ticket page may align better with your event goals.

Next, evaluate the cost-effectiveness of these features:

• Compare Costs: Beyond the price tag, consider the value of time saved, potential revenue increases, and costs associated with training, integration, and maintenance.

• Break-Even Analysis: Determine how long it will take for the benefits of a feature to outweigh its costs. If a feature costs $100 extra per month but saves you $200 in manual labor, that's a quick win. But if another feature costs $500 per month and only adds a subtle improvement to customer experience, it might not be worth it.

• Trial Runs: Utilize trials or demos to experience the features firsthand. There's no substitute for seeing features in action to grasp their benefits fully. At 7am, we welcome you to request a demo to see firsthand how our platform can elevate your event and enhance revenue.

• Feedback and Reviews: Online feedback and reviews can provide insights into the reliability and efficiency of a platform’s customer support.

Securing the most cost-effective ticketing platform is key to your event's financial health. Consider long-term value and revenue potential alongside initial costs. By weighing these factors diligently, you'll be well on your way to selecting a ticketing platform that not only meets your event's needs but also contributes to its success and your attendees' satisfaction.

Wrapping up, are these things important to you?

If you answered ‘Yes’ to all of these, then consider giving 7am a try.

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