Psst! Here’s the secret webinar software providers aren’t letting you in on: You can make money with your virtual events. Yes, in addition to building your brand and a community of raving fans, you can monetize your virtual events.
The truth is the game has changed since the pandemic first reared its ugly head. It has forced many enterprises to move from physical events to virtual ones overnight. But the good news is, organizations can use the same monetization tactics that worked for physical events for virtual events.
So, how do you make the big bucks? Let’s find out.
- Affiliate Marketing
Affiliate marketing has been around for a while now. However, it’s still big in 2021. In fact, affiliate marketing accounts for 15 percent of all digital media revenue. So, how does it work? You promote a partner’s goods and services and then make money when people act. This model of earning is Cost Per Action (CPA). To implement affiliate marketing in your live events, you should allow partners to advertise their products during the virtual events. This will attract the audience and drive action.
For example, here is Billy’s story. Billy is hosting a product launch webinar for his new shaving cream. He invites George, who sells razors, to run ads during the event. George gets new customers and makes some money off Billy’s webinar. In turn, Billy makes a commission on any sales generated by George as a result of the webinar. Easy as pie!
Attendees are at the heart of any virtual event, but sponsors can help facilitate the event by bringing in much-needed financial support. When a sponsor invests in your event, you must promote its brand and make the event beneficial for the sponsor.
Today, event sponsors aren’t just looking for improved reach and brand awareness. They’re also looking for meaningful ways to connect and interact with the audience. You can help them do this through sponsored ads, keynote speaker opportunities, branded breakout sessions, and VIP pre-event networking.
But you should probably heed this quick tip: Make sure you categorize the event sponsor packages beforehand. You should categorize them based on their commitment levels, expectations, price points, and positioning.
This is the most obvious and direct way of monetizing your virtual event. You can offer tiered tickets based on interaction and access level to the webinar content and speakers. But this doesn’t mean dropping the attendees who won’t pay. You can make the event open and charge for restricted access to exclusive sessions.
You can categorize tickets into first class, second class, and third class. For first-class tickets, attendees can have view-only access to the event. Second class is for those who want to take transcripts or recordings. Finally, third class can be for those who want to interact with the speakers and participate in Q&A sessions.
For monetization to be successful, you must work with webinar software providers that understand the tools you need to make the most out of your event. Give Webinar.net a try today.