If you thought hosting events online is not profitable, you are wrong. In fact, hosting events online will get you a better reach and an improved return on investment. Since the COVID-19 pandemic hit, live events have started shifting online. Here we’ve pulled some creative ways to make money from virtual events.
Here we’ve pulled some creative ways for hosting events online.
The primary way hosting events online can bring in cash is through sponsorships. Sponsorship deals are profitable because they give advertisers a direct approach to the organizer’s audience. The more anticipated attendees, the higher the value an organizer can charge for sponsorship. Sponsorship packages for virtual events mainly include marketing emails and logo placement on event materials.
Hosting events online does not come with the constraint of limited seating capacity, so you cast your spell wider for potential attendees. Most of the organizers charge less for attending virtual events than for live events.
Host gated live events on different platforms
Hosting events online is now also possible using a social media platform like Facebook. Their new feature makes it easier to charge viewers to view certain video content. Facebook also lets you advertise and then broadcast your event. Twitch in the past is known for monetizing live streams.
Another way of hosting an event online is to make a subscriber plan. Upload recordings of previous events and make those recordings accessible to the subscribers. Attendees can view the recordings on your website, or you can send that recording directly to the user via email.
Networking and socializing is the best part of an event. Virtual events may prevent socializing in-person, but still, you can make your attendees network and correspond virtually. You can charge extra to send direct messages to fellow attendees or let them connect via video chatting.
Convert attendees into subscribers
Initially, you get to make your events free for users and make them like your content. Then you can convert those attendees into subscribers. Organizers, while hosting events online, can ask the free attendees to enter their email and contact them later. They can use that email for marketing opportunities.
Sell ad space
While hosting events online, make use of Google AdSense, even if you’re low on sales or you have to sell away free tickets. You can show ads that may be relevant to your audience. You can even ask your attendees for a price for making their broadcast ad-free.
Hosting events online will give you an excellent opportunity to sell your products. Suppose the virtual event is by a phone company about their new launching smartphone, they can later ask their attendees to buy that phone online, or accessories related to phones. Create urgency for them to do that. This product is on sale for the next twenty minutes.
Sell premium VIP tickets.
Hosting events online can also come with a VIP ticket option where the attendees can unlock a workshop from a well-known speaker. You can also give VIP ticket holders a chance to one-on-one correspond with your speakers.
Sell online courses and coaching services.
Online courses include a set of workshops, webinars, and previously recorded videos from professionals. Suppose you were hosting a virtual event for your newly launched camera. You can offer attendees online courses and coaching services on how to take pictures in low light or how to use your shutter speed.
Repurpose and sell recordings
On-demand recordings are another way to get revenue even after your event is over. Because of scheduling issues, some people might not have made it. So, you can provide them with your old videos and workshops on demand.
Host Competitions and Games
Offer your attendees to participate in competitions and games. They can enter that competition by a minimal amount, and the winner could get merchandise or another particular gift. These competitions are fun and will also prove to bring excitement to your event.
Use the WP Event Manager
Suppose you’re building a WordPress website for your event management. WP Event Manager is the best plugin for your event’s site. For hosting events online, the Zoom add-on of the WP Event Manager offers complete functionality.
This plugin is easy to use, but it is also highly customizable. It has multiple views and easy event classification. A fully responsive plugin to manage your events and best for selling tickets.
There’s a bright side to virtual events as well. You don’t have to care about location management and food if you are hosting events online. With the help of the strategies listed above, you can make big cash.