Setting up a cancellation policy with imATHLETE means you can let people cancel in exchange for a discount code that they can use for partial entry to another one of your events (or to the same event next year). Please note, we are not talking about refunds. A Cancellation Policy allows you to make more money, not lose money.
THE TOP 4 REASONS YOU SHOULD CONSIDER HAVING A CANCELLATION POLICY
1. It encourages participants to spend more money on your events when they sign up for another one.
2. If your event sells out, you can guarantee it stays sold out - and make more money in the process
3. People won't be as nervous to register earlier.
4. It shows you care about the participants. Happy participants means more participants.
CANCELLATION POLICY: BEST PRACTICES
End Date: Make sure the offer ends at least 14 days prior to the event. People can access weather patterns 10-14 days out. You don't want participants getting a benefit for canceling due to weather.
Offer Amount: Set the discount amount to be 30-50% of the registration fee paid
Sold Out Events: Make the offer for sold out events higher than when it's not sold out. For instance, give them a discount code worth 50-70% when the event is sold out. Then make sure you have a waitlist or resell those slots at full price to somebody else. Mo' money, mo' money, mo' money!
HOW TO SET UP A CANCELLATION POLICY
- Go into Event Setup
- Click Cancellation, Deferral, Waitlist (left side)
- Under Cancellation Policy, click "yes" to offer a discount code for cancellation
- Indicate the date that the cancellation offer ends
- Indicate the amount of the cancellation offer
- Do the same thing for when the event sells out
- Indicate the company name you want listed on the Cancellation Policy
- Click Save & Continue
Want to see how participants cancel their registration? Click here to check it out.