You’ve spent months planning an impactful event. You’ve been busy selling tickets online. But just as ticket sales level off, the invoices start to arrive. You wonder “Have I done enough?” If you are relying on just event ticketing for a positive event ROI, the answer is probably no. A recent study showed that 29% of event planners report said that increasing revenue is their biggest challenge. There is always more you can do to bring in event revenue. Here are 6 ideas to get you started.
Create a VIP ticket category that offers insider content, special offers, extra swag and more benefits to attendees who are willing to pay a little more. These benefits do not have to cost you much at all. It could be a “skip the registration line” benefit or making the registration contact list available after the event is over. You could charge up to 50% more per ticket for an impactful VIP experience.
Sell Related Products
If you are planning a conference or educational event, offer your speakers the opportunity to sell their books and other products at your event in exchange for a percentage of sales. Take that idea one step further and invite a local book store to sell a selection of related books at your event in exchange for a cut of sales. If you order extra attendee swag like tote bags, apparel, notebooks, and such, sell these items at your event as well as on your ticket website.
Building relationships with sponsors is a powerful marketing tool as well as a proven fundraising idea. The best sponsorship deals are mutually beneficial for all parties involved. Your sponsors are paying for the ability to build their brand among your attendees. Be creative in how you leverage sponsors. For example, offer a sponsorship to pay for a virtual version of your event (which is our next idea). Or find a sponsor to fund snacks or drinks in breakout sessions. Make sure you are providing a good return on their investment so that they will sponsor your next event. That is the revenue you can count on.
As we just mentioned, add revenue to your event by offering a virtual version. Feature your keynote speaker and/or certain breakout sessions online in a Facebook Live or other live streaming event. Charge a small ticket fee for virtual attendees or find a sponsor to fund this online option. By doing this, you are not only bringing in more revenue, but you are also expanding your reach and finding a brand new customer base.
Post- Event Content
Once your event is over, offer attendees access to keynote or session videos, related whitepapers, ebooks, industry survey results and other content for a small fee. Ask your speakers and industry experts to submit content or create your own from the event sessions. Videotape interviews with attendees, sponsors, and speakers at your event for content. Create a webpage in which attendees can download these items quickly and easily as well as access a link to your ticket website for your next event.
Old school ad sales can still be an effective revenue builder. If you print an event program or agenda, sell ads to organizations that would like to reach your attendees. Charge a fee to allow an organization to stuff a brochure or coupon in your swag bags. Sell ad space on your event posters and billboards. Don’t forget your digital platforms such as your event app and website. Use an event management software like Eventzilla that allows you to promote sponsors and advertisers with little effort on your event ticketing page. Planning events is not easy. Planning an event with a positive ROI is even harder. Every event planner needs to be creative in their event management and marketing. This creativity should also be applied to brainstorming revenue streams. As the event market tightens and competition increases, we must do what it takes to keep events sustainable.