How to Monetize Your Virtual Events
How to Monetize Your Virtual Events June 08,2021 business , education , lifestyle , music , art

The year 2021 is the harshest and creative year in history. In these present circumstances, people are ready to do anything to safeguard their businesses. Amid the uncertain future, the event industry is trying to bring up some innovative and creative ideas to monetize virtual events. As Hippocrates said, “For extreme diseases, extreme methods of cure, as to restriction, are most suitable.”

The concept of virtual event ideas seems facile but the effort behind it is troublesome. One of the major challenges faced by event planners is how to generate revenue from virtual events. Let us explore some of the ways to generate revenue and monetize your virtual events:

Ticket selling:

Ticket selling is the most prominent way to generate income for virtual events. Offers like early bird sale, low-cost ticketing strategy is a beneficiary for event coordinators. Discounts are the most effective and efficient way to grab the attention of people. It will help event planners to entice a larger crowd and can escape from burning fingers. The division of tickets into various segments will be beneficial for the event organizers. It can be like VIP tickets, corporate tickets, economy tickets, etc. 

Persuade sponsors:

If attendees are the soul of an event, sponsors can be considered as the heart of an event. The best way to spawn money for the event is to offer attractive sponsorship packages to the sponsor. It should include various elements like banners, logos, product placement, etc. Through fulfilling their expectation in brand building, you will get a key to finance your event.

Market through the website:

When the world is spreading to virtual, your website also becomes a great space to sell to sponsors and advertisers. Virtual event platforms will create awareness about the event and also traffic to your website. The reference of a social media influencer will also help you to market your virtual event.

Product promotion:

Promoting a product is the best way to generate income for your virtual events. Through this, you can convert viewers across the globe to customers. It will help the sponsor to introduce and sell their products globally. Through various innovative ideas, you can market the product throughout the event and it will make an impression in the mind of the sponsor.  

Networking Lobbies:

In this virtual event era, networking is the heart and soul of an event. Virtual event organizers can monetize virtual events by putting a special fee for letting people access networking lobbies. It will help the attendees to know minute details about the event. Event planners can also build a larger network through this.

Sponsor booth or stalls

Organizers can generate revenue by setting up booths or stalls. They can place sponsor logos, offerings, and a host to give a unique experience to the attendees. You can offer a unique booth to the sponsor and he or she can market the product through it.

Sponsorship activities:

Organizers can monetize their virtual events by providing sponsors an opportunity to lead a session, activity, or presentation. This will create a great impression on both attendees and sponsors.

Email Mentions:

Virtual event planners can use email marketing as a tool to monetize their virtual events. You can impress your sponsors with exclusive packages and feature the sponsor ads along with your virtual event details in the emails. Through this, big fat attendees will spike out. 

Digital gift bags:

You can impress and excite the attendees by sending digital gift bags. It can include vouchers, discount coupons, etc. You can give it at the end of the session and it will force them to attend the session completely. Through this strategy, you can build curiosity in the minds of people.

Virtual event ideas are becoming more innovative and creative day by day. In this Covid era, organizers and planners can find a plethora of ways to explore and experience. There are many virtual event platforms in India like IndiaEve, Cvent, Brella, etc. Even though there are many virtual event platforms in India, only a few grab the minds of the public. With a perfect event planner, organizer, and innovative platform like IndiaEve, all event enthusiasts will always be allowed to escape into the world of fantasies and happiness!

Virtual events are impressively spinning the event market. Let us witness the inventiveness and revolutions in virtual events 2021. Discover the best and transpose each moment to a quirky experience!!!