Introduction
The trade-off between exclusive high-ticket gatherings and more accessible lower-priced events for Forbes's live events business presents a complex strategic decision. This scenario involves balancing revenue potential, brand positioning, audience reach, and long-term business growth. I'll analyze this trade-off by examining key factors, proposing metrics, and designing an experiment to inform our decision-making process.
I'll start by asking clarifying questions, then identify the trade-off type, analyze the product, and propose a hypothesis. We'll then dive into metrics, experiment design, and a decision framework before concluding with a recommendation.
Step 1
Clarifying Questions (3 minutes)
Why it matters: Helps understand the baseline and potential impact of shifts Expected answer: 70% revenue from high-ticket events, 30% from lower-priced Impact: A more even split might suggest room for growth in accessible events
Why it matters: Ensures alignment between events strategy and company direction Expected answer: Events reinforce thought leadership and drive significant revenue Impact: Strong brand alignment might favor high-ticket events
Why it matters: Identifies target audiences and potential for expansion Expected answer: High-ticket events attract C-suite, lower-priced draw broader professional base Impact: High satisfaction in lower-priced events could justify expansion
Why it matters: Assesses feasibility of expanding lower-priced events Expected answer: Platform can handle larger audiences but may need upgrades Impact: Technical limitations could influence the pace of expanding accessible events
Why it matters: Determines operational constraints for shifting event mix Expected answer: Team more experienced with high-ticket events, at capacity Impact: Limited resources might favor gradual shift or maintaining status quo
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