In the world of event management, every dollar counts—especially as costs for venues, marketing, and on-site services continue to rise. An often-overlooked way to offset these expenses and even generate additional revenue lies in custom payment processing fees for ticket sales.
While many ticketing platforms charge standard processing fees that go directly to third-party providers, AttendStar gives event organizers control, allowing them to set their own fees and retain a portion. This approach is transforming how event organizers think about payment processing, offering a new revenue stream and greater flexibility in event budgeting.
Understanding Custom Payment Processing Fees
Custom payment processing fees differ from standard fees in that they’re set by the event organizer rather than imposed by the ticketing platform. While standard fees cover basic transaction processing, custom fees offer a unique opportunity for organizers to add a slight increase, covering processing costs and creating a margin for additional revenue.
Custom fees provide a subtle but effective way to increase revenue without impacting the attendee experience. Most attendees view processing fees as a standard part of online transactions, and a slight increase is unlikely to deter sales.
AttendStar’s flexibility in allowing organizers to set and retain these fees stands in contrast to traditional platforms, which often impose fixed fees that organizers cannot control. This flexibility provides a significant strategic advantage, allowing organizers to tailor fees according to event needs and customer behavior.
The Revenue Opportunity of Custom Fees
Setting custom processing fees opens up significant revenue potential. For example, by adjusting fees incrementally, organizers could generate thousands of extra dollars from a large event.
Many event organizers have made the switch to AttendStar from other platforms that don’t offer the flexibility of setting custom fees. They know that by setting fees at competitive rates and keeping the difference, they can enjoy a substantial edge over platforms that only offer standard fees.
Case studies have shown that organizers who implemented custom fees with AttendStar saw increased revenue without impacting ticket sales. Furthermore, several events, particularly in the airshow and outdoor event sectors, have successfully adopted custom processing fees using AttendStar’s platform.
For instance, large airshows that implemented custom fees through AttendStar reported substantial revenue gains. By retaining the difference between standard and custom fees, these events covered their transaction costs and reinvested surplus funds into event improvements, enhancing the overall attendee experience.
What are the benefits beyond just revenue?
With AttendStar, organizers can set custom payment processing fees and retain a portion, turning a necessary expense into a revenue-generating asset, but the benefits go far beyond revenue.
For example, custom fees make it possible to offset processing fees fully. Rather than absorbing these transaction costs, organizers can use custom fees to cover them, freeing up the budget for other essentials.
The extra revenue generated by custom fees can also be allocated toward other event costs and enhancements, like improved marketing, venue upgrades, or added attendee amenities. This can elevate the attendee experience and improve ticket sales all while staying within budget..
Best Practices for Setting Processing Fees
- Calculate Optimal Fees: Consider event scale, budget needs, and comparable ticketing fees in your market. By keeping custom fees competitive, organizers can maximize revenue without discouraging buyers.
- Maintain Transparency: Clearly communicating processing fees to attendees is essential to building trust and ensuring a smooth purchase experience. Transparent pricing can enhance customer satisfaction and prevent cart abandonment.
- Leverage Custom Fees Functionality: AttendStar offers event organizers the ability to add a custom fee and custom fee descriptor to each order. This allows you to pass other fees such as venue/facility fees and local/county fees onto the ticket buyer. Additionally, separating this fee provides greater transparency to the ticket buyer.
- Experiment with Different Fee Levels: Testing small adjustments in fee levels can help find the optimal balance between revenue generation and attendee retention. Using this data, organizers can tailor their fee structure to best meet their goals.
Conclusion
For event organizers, custom payment processing fees present a strategic opportunity to turn a standard ticketing expense into a revenue stream. With AttendStar’s flexible, organizer-friendly model, custom fees become more than just a transaction cost—they’re a tool for financial stability and growth. By incorporating this approach, organizers can balance their budgets, improve attendee satisfaction, and generate extra revenue to enhance future events.
