How to Increase Your Revenue by Hosting Events (The Right Way!)
Have your typical revenue streams been running a little dry lately? In times like these, being creative and looking for new revenue streams can be huge for your business. And hosting events can help!
Did you know that 45% of B2Btechnology decision-makers worldwide rely on information at conferences and trade shows to explore and decide on investments? Events are an experiential marketing strategy that serve as a centerpiece for ongoing client interactions.
If you aren’t implementing an annual event budget, then you need to get started yesterday! Hosting events is a surefire way to expand your revenue! Here’s how…
6 Ways Events Can Drive In Revenue
From general admission to VIP, put a price on registration, or charge an annual membership for access to your events.
Guest surveys. Gather consumer information by having your audience answer a few questions when they register to your event. This can give you insight on new revenue streams to add to your business.
Sponsorships. Promote a company (or a few!) at your event, and get some extra revenue in return. Offer paid featured VIP spots, ad space on promotional content, and displays at the event.
Exclusive discounts. Give attendees exclusive discount giveaways to bolster your current revenue streams or drive traffic to new ones.
Merch and licensing. Beyond advertising, sell products and services at your event. You can sell licenses to intellectual property or media too. Extend your post-event sales through follow up campaigns.
Brand loyalty. Giving guests a memorable and enjoyable experience is sure to increase brand loyalty. Attendees will feel more compelled to purchase and recommend now that they've established a personal interaction.
Incorporating an event strategy and budget can exponentially strengthen your brand and bottom line. Plus, it’s less likely to be disrupted than any other revenue model… If it’s done the right way!
Savvy Tips to Hosting Revenue-Increasing Events Online
With today’s event industry heavily leaning virtual, it’s easier now more than ever to host events. However, it’s also easier to make some major planning mistakes. To avoid mishaps and maximize your event revenue, keep these savvy tips in mind:
Establish frequent branded events. The most important feature of your business is your brand. It maintains and extends the relationship with your clients for repeat business. In fact, repeat clients are proven to spend 3x more than new clients. Whether annual, quarterly, or monthly, frequent branded events will solidify your relationship with repeat clients and provides access to new ones. Cover your bases with the right tech. Everything from scheduling to event features, pre-curated content, and using your virtual event platform relies on knowing your tech inside and out. Having a tech-savvy event planner with proper training will ensure technical difficulties won’t overshadow your brand. With a niche technical background like no other, Go Savvy has you covered!
Don’t overpay for a virtual platform. There are literally thousands of online platforms to host events, so choose wisely! You could end up overpaying for a platform with features that you don’t need. Even worse, you could get caught paying a horrible annual fee for just 1-2 events. Yuck!
Go Savvy has plans with specific platforms that are sure to take your online experience to the next level. Our ￼platforms cover plenty of fun and innovative virtual event types, including:
Seminars with multiple guest speakers
Hybrid events with pre-recorded content interlaced in live feed
Multi-platform streaming and more!
We are here to help you plan your next virtual and savvy event to increase your revenue streams, brand recognition, and loyalty. Reach out to us today to get started. Your trendy (virtual) event planner,