Post Description: We believe the combination of block price and time-based pricing will change the endurance industry, and will begin a trend of earlier registrations per event, particularly those events that are in high demand.
Block pricing allows event directors to set a price based on the number of units sold, not just certain dates. Each of these price bands is considered a “block”. Upon the expiration of a certain block due the number of registration sold, the next block’s pricing then begins automatically.
This model helps create demand for events based on scarcity. Registrants are motivated to sign up immediately to get into the current block since they know there is limited supply. Pricing incentives and a limited capacity are the main reasons that people register early for events.
To enable block pricing for your event, you will need to first speak with a Race IT team member. Once the feature is enabled, you can create price adjustments in order to set the price blocks. When entering the quantity for the blocks, you will need to enter the maximum number of registrations that will be allowed for the block.
For example, if participants 1-50 will be charged $20.00 and participants 51-100 will be charged $30.00, you will enter the maximum number for the first block as 50, then the next block as 100, etc.
We believe the combination of block price and time-based pricing will change the endurance industry, and will begin a trend of earlier registrations per event, particularly those events that are in high demand. It also allows for the opportunity for event directors to celebrate multiple “sell-outs”!
Download a complete walkthrough of this feature by clicking here