How to Price an All-Access Pass
You've got an incredible all-access pass offer ready to go for your virtual summit...but how in the world do you decide what to charge?
I know it's easy to assume that someone isn't willing to pay for what you have to offer. But more often than not, it's a mindset issue on your end more than anything.
After all, people pay to have their problems solved every single day. And that's exactly what your summit and all-access pass do - they solve a problem for an insanely reasonable price.
So, boost those all-access pass prices, own the heck out of your offer, and get excited about the impact you're about to make!
Pricing Your All-Access Pass
Pricing your all-access pass can feel tricky. You don’t want to go so low that you devalue your speakers and their bonuses, but on the other hand, you don’t want to go so high that no one buys.
To help, let's start by covering the biggest all-access pass pricing mistakes and then cover my general recommended price range.
All-Access Pass Pricing Mistakes
I tend to see a few of the same mistakes made with all-access pass pricing. These mistakes hurt your profit as well as the impact you can make for your attendees.
- Pricing your all-access pass too low - A $19 all-access pass doesn’t look valuable to attendees. The price straight-up says that there's not a lot of value in the offer. Also, if you have thousands of dollars in bonuses that your speakers contribute to the all-access pass, but sell it for $47, you downplay the value and don’t honor your speakers.
- Pricing your all-access pass too high - On the flip side, you can also go too high with your all-access pass price. Keep in mind that most of the people who see this offer are part of a cold audience and need an easy-yes offer to get started.
- Assuming your audience can’t afford anything - People will pay for you to solve their problems. They won’t blink at a $97 offer that truly gives them something that they need. Don’t undervalue what you create or assume that your audience won't pay. Let them make that decision.
- Skipping price increases - People need encouragement to buy, and a reason to decide one way or the other. Having your all-access pass at the same price throughout the entire event will hurt your conversion rates, so be sure to include price increases.
All-Access Price Range Recommendation
Now for my recommended all-access pass price range. Please keep in mind this is a general recommendation that works for most summits. Nothing is one-size-fits-all.
Generally, the minimum price you should ever sell your all-access pass at is $47, even if it’s only presentations. Anything lower is showing attendees you’re not selling something valuable.
On the other side of things, generally the maximum price an all-access pass should be listed for is $197. Anything higher will decrease your conversion rate in most cases.
How do I decide what works for me?
Really, it’s a gut feeling.
If you want a more concrete answer, add up the value of everything in your all-access pass and see where you land. For example,
- $47-$97 for each presentation
- $197 for each live co-working session
- $497 for each hot seat or group coaching call
- Face value of the speaker bonuses
Add everything up and see what your total is.
Generally, you want the total value to be at least 10 times what you charge. When this total value doesn’t fit into the recommended price range, that’s where a gut feeling comes in.
Krista’s All-Access Pass Pricing Example
When I create my all-access pass for my summits, I like to have two tiers of all-access pass pricing. My pricing looks like this:
- Presentations only: $47/$77/$97.
- Presentations, speaker bonuses, and extra live sessions: $97/$147/$197
I’ve seen all kinds of things work well, so go with what works best and feels best to you.
Decide Your All-Access Pass Pricing
Now it's your turn! Do some brainstorming on what kind of all-access pass price feels good for you.
If you haven't yet, also take some time to consider what types of limited-time offers you'll work into the equation as well.
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