5 Ways to Maximize Revenue at Your Next Virtual Event
Gavin Escolar, a happy Uber driver, made $252,000 a year, only $36,000 of which came from his daily trips. The "Uberpreneur" made the extra money by using his car as a "showroom" for his jewelry design company.
Much like Gavin, event profs too, try to make the most from organizing an event. Here are 5 ways for event profs to engage with customers and make that extra buck for their brand, virtually.
- Ticket sales - Ticket sales are like the mafia of events. Want to learn how to make pretty pennies from them at virtual events? Bifurcate ticketing based on:
- Early bird discounts
- VIP tickets
- Reserved seating
- Season pass
- Referral discounts
- Group bookings
- Membership tickets
Make the most of each category by offering exclusives and rewards. Keep a window for attendees to upgrade their tickets through add-ons. Offer VIP access at a nominal fee to someone with a season pass or discounts to groups on larger bookings.
- Sell brand merchandise and swag - Event organizers can make a virtual event memorable by selling merch and swag. Invite exhibitors and sponsors to sell their swag by setting up an online store on the virtual event platform. The swag items could be personalized:
- Webcam Shutters
- Coffee mugs
- Earn sales commission from exhibitors - Organizers can charge a small fee from exhibitors and sponsors for items sold at the online store. They can also take a commission on leads generated, new members enrolled, or any other sponsor goal that is met. This fee can be charged based on a mutually agreed commission rate/percentage.
- Ad Space - Ads on a virtual event platform, never go unnoticed. They are an effective way to promote your sponsors and exhibitors and drive traffic to their virtual booths. It is also a great way to generate additional revenue from the event. Event profs can help sponsors and exhibitors increase brand awareness and event presence through image ads, video ads, and banner ads across the virtual event platform.
- Offer premium content - Create 10X value to an attendee’s experience. Sell premium content at virtual events that attendees can take home, learn, and benefit from. Organizers can sell content such as:
- Template bundles
Convincing attendees to loosen the purse strings is an art that can be mastered through practice. Use Hubilo's virtual event platform to implement these tactics and discover new ways to maximize revenue. Book a free 1-1 with our team!