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Want to increase your prices for your town or village hall hire that people will happily pay? The trick is to work out a way that you can provide additional value at little or no additional cost.
Think about it... you happily pay for a bottle of water but if you had to pay for a glass of tap water, which is just as good and sometimes even better than bottled, you would be shocked!
It's all about what seems worth your money and in this case it is because of "perceived value." It's exactly the same for your town or village hall.
Increase the value = people will happily pay more
Top tip #1 - Add value through your website
It's important to have a website with all of the information about your venue. Striking imagery can make it more appealing and also include vital info like prices and facilities. All of this will help to increase the value of your town or village hall. To get started check out this blog post that offers helpful tips on how to increase bookings by making some easy changes to your website.
Top tip #2 - Increase your marketing activity
It’s simple - if more people know about your town or village hall through marketing, this will increase demand and allow for you to increase the price. You can read here some tips on how to boost venue bookings on our blogs Facebook Marketing, Email Marketing and Google Marketing so that the money is flowing in!
Top tip #3 - Make smart decisions
Look at where most of your revenue comes from. Is it coming from weekend weddings? Or is it from the regular bookings? And think about how often you lose bookings for being too expensive. Once you have figured all this out, you can then make a decision on how you want to increase your prices.
Top tip #4 - Add value to your venue
In order to charge higher prices that customers will be happy to pay, you need to add value to your venue. Even think about things that don’t cost that much extra to provide.
Value add ons:
- cleaning service
- equipment hire
- tie in with local providers
- complimentary tea and coffee
If you're looking for a way to fill your empty slots and increase revenue, why not try offering more time with an offer? Let's say that someone wants to book 1 hour of space at your hall. Offer them 1.5 hours instead! This strategy is great because it means you can give your customers added value and increase your revenue by filling the empty slot.
You could charge more by thinking about different types of demand that affect how much customers pay. Think about charging more during popular dates and time slots. For instance, there’s a higher demand for wedding venue hire for weekend dates. Hotels tend to increase their prices for weekend stays and weddings - so why don’t you?
Key takeaways
Promise: increase revenue by adding value of your town or village hall
Highlights:
- Ensuring your website is appealing in order to add value
- Knowing how to market your town or village hall in order to increase demand
- Making smart decisions and adding value to your venue for little cost
