Monetize your virtual events and improve returns with Airmeet

6 Tips to Monetize Your Events and Get Big Returns in 2021

Aditi Biswas
• July 7, 2021

1000 words

(4 min read)

Looking for ways to monetize your virtual events to get big returns? Read this blog to know how to successfully monetize your virtual events and make good money.

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How can one organize a large virtual conference or a virtual summit?

Will it provide the same kind of networking opportunities as a physical event?

Will the online event provide immersive experiences to the community?

Will the attendee experience be without any technical glitches?

These are some of the questions that bother event organizers when planning virtual conferences and different online events.

As the future of events changes, it is time to pivot to easily scalable event types. Using an all-in-one virtual event platform like Airmeet can facilitate attendee engagement and interactions.

Easily accessible for types of events, Airmeet recreates an immersive experience very close to the actual in person event with an array of additional features like speed networking, raise hand feature, and bring to the stage and multiple speaker support along with breakout rooms like social lounges and more.

What are the different types of events?

The different types of virtual events.

Virtual events are not a new format. They are in-person events hosted on a virtual platform. The virtual platform comes with interactive features in a virtual setting for attendees and speakers.

Here are some types:

  1. Webinars 
  2. Career fairs & Trade shows
  3. Town Hall, conferences, corporate training & workshop sessions
  4. Family gatherings & celebrations 
  5. Summits 
  6. Training and virtual workshops 
  7. Expos
  8. Hybrid events
  9. Job fairs
  10. Panel discussions

How to plan a profitable virtual event?

The business objective of hosting virtual events can vary from showcasing a product(s) to announcing a launch, hosting a trade fair, or even a conference. However, to make virtual events successful, you need, gain sponsorship opportunities, generate new revenue streams for the business, etc.
To become successful, here are a few things that organizations can do:

Live stream to increase audience reach – Most platforms come with video streaming facilities that make it easier to screen to a larger audience. Besides, the virtual platforms come with mobile apps that enable all participants to stream the conference from anywhere.

Sell sponsorship opportunities – Go beyond your standard sponsor packages and offer sponsors virtual ad spaces to sell their brand. Use platforms that allow custom sponsor booths. The sponsor can use these booths to promote their brands. Offer networking opportunities in speed networking.

Sell access to audience data – Even if this requires consent from the participants registering for the event, you can capture the data and sell it to your sponsors.

Tiered ticketing strategy –

Is there a target you wish to reach in terms of revenue?

Is it accessible for your attendees?

Are there booths?

Is any particular session chargeable?

Once you have the objective, work backward. Decide on the event budget, add your backup plans and then work on the ticket price.

Another idea is to have different pricing for different segments of the audience –

  • Early bird offer
  • VIP Access
  • Single-day or multi-day passes
  • Group deals

Repurpose and sell recorded content – Even when the session is over, make the most of it by selling recorded content to the community.

Sell swag: These are excellent places to sell products and services. Use the virtual booths and social lounges to promote merchandise and allow attendees to make hassle-free purchases.

Questions around virtual events and how to make them a success

Why host a virtual event?

Besides saving time and money, virtual events provide increased accessibility to brands, sponsors, and speakers and also help improve your community experience

What can be done in virtual events?

Depending on the type of event, it can be made interactive and interesting with the help of gamification, real-time presentations, virtual meditation, and hosting emotional health and well-being sessions, speed networking, and more.

Which virtual event platform is the best?

An all-in-one event management platform, like Airmeet, helps provide an immersive environment and increases virtual engagement across devices. It also comes with 24/7 customer support to address any connectivity issue, a mobile event app, and other interactive features like chat, live poll, raise hand and bring to the stage, q&a, and more.

How do you ensure that your virtual event is a success?

Ensure all necessary elements are in place – a website, ticket or registration with payment gateway, content to go on social media, sponsors who have agreed to partner and contracts, and the virtual platform to host the online event.

What are some of the unexpected costs of a virtual event?

Consider the apparent costs (platform, talent, speakers, etc.) when budgeting for your virtual event and the hidden costs that come with new, virtual categories that may require investment and new abilities.  

How to incorporate sponsor engagement (visibility) virtually?

You can use the virtual exhibition hall feature available on the event platform to showcase your sponsors and other exhibits. You can create custom booths, banners, and pretty much all you see at an actual event. Apart from this, you can have the sponsors’ logo present on all communication and branding materials across the venue.

How do you measure the success of virtual events?

There are no set parameters, but the ones you could use are:

  • Number of people who bought a ticket
  • Sponsors and partners 
  • The total cost incurred for the event vs. what you had budgeted for 
  • Any unexpected expenses that you had not considered when putting the budget together 
  • Total payouts made and balance in the account. 
  • Engagement and networking opportunities

How do you capture the audience’s experience during the event?

The best way would be to send out a feedback request mail or form once the event is completed. This would give you an overview of how good it was, the pricing, the engagement, networking opportunities, and insight when planning the next event.

Making money from events in 2021 may seem impossible, but it should not be too difficult if you follow the steps we have shared. You are likely to see many more virtual events being held in the future; event performers and event planners who embrace this new virtual environment will have the inside track to monetizing this booming sector to a large extent.

Interested to know how Airmeet can help you monetize your virtual event? Talk to an event monetization expert here.

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