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What Is a VIP Package?
A VIP package is a premium ticket. VIP packages cost more and offer extra benefits.
VIP stands for Very Important Person. These tickets are for fans who want a special experience.
VIP packages are a great way to generate extra revenue for a show.
What Can Be Included in VIP Packages For Live Music?
Here are some good examples of things you might consider including in your VIP packages for live music events:
- Early entry. VIP ticket holders get in before other fans, giving them time to get settled and secure a better spot.
- Reserved seating. VIP ticket holders get assigned seats in a good location.
- VIP section. VIP ticket holders get access to a VIP section in the audience.
- Exclusive merchandise. VIP ticket holders receive a special item that is not available to purchase by the public.
- Merchandise package. VIP ticket holders receive merchandise at or before the show.
- Discounted concessions. VIP ticket holders receive a discount when purchasing food and drinks at the event.
- Meet and greet. VIP ticket holders get to meet the band, take photos, or get autographs.
- Soundcheck viewing. VIP ticket holders can watch the soundcheck, which is a unique behind-the-scenes experience.
- Backstage access. VIP ticket holders get access to additional areas behind the stage. They may be able to watch the show from side stage and watch talent move between the green room and the stage.
How to Price Your VIP Packages
Pricing VIP packages starts with knowing your costs and what your audience will pay, but there is more you can do to maximize your revenue.
If possible get a starting point by asking the band about what kind of packages they have sold and at what price points. Use that as your baseline, then adjust based on your venue, market, and audience.
Next, consider offering at least two tiers for VIP packages.
Having at least three options lets you capture different budgets. But it also allows you to do price anchoring.
Place the middle tier closer to the premium option to make the premium seem like a better value. Or place the middle tier closer to the low priced option to make the middle tier seem like a good value.
For example, you can have a general admission ticket price of $25, a basic VIP package at $100 and a premium VIP package at $120. The premium package seems like a great value. It’s only a little higher than basic VIP.
As another example, you can have a general admission ticket price of $25, a basic VIP package of $45 and a premium VIP package of $120. The basic VIP package seems like a great value.
Before a customer reads what is included in each package, the price anchoring psychology has already worked on them. They are already leaning one way based on the numbers.
You might consider having one VIP package tier that has a very limited quantity and encouraging customers to buy that one with price anchoring. That way you can display limited quantity on the ticket page.
When buyers see “Only 5 left” or “sold out” on a ticket page, it creates real urgency and scarcity to buy any option.
You can also set your VIP inventory lower at first and let it sell out. Then you can release more if needed. You cannot easily create the feeling of a sold-out experience after the fact.