How To Make Money With Virtual Events

Ralph Waldo Emerson once said, “Money often costs too much.” In his essay on wealth he attempts most earnestly to help us understand that there are hidden costs and risks associated with every transaction. From the business person’s point of view, the sales of goods and services, or the investment in projects, carries with them many unseen and uncalculated costs, which must still be determined and considered. Which, in essence, is why you’re here to learn how to make money with virtual events.

Regardless of?why ?you’re?planning a virtual event , it needs to be successful and for your business that translates into making money. But it’s more than that. The?cost?of the virtual event as a thing cannot exceed the?amount?of the money it brings in. There must be a positive return on that investment.

We’ll come back to the idea of ROI and drill down into how to measure and determine ROI in our next episode. But first, the question of?how?to make money with virtual events is front and center. What can you charge for? What options do you have? Aren’t virtual events just for brand awareness and lead generation?

That’s what we’re diving into, in this week’s episode of The Virtual Event Strategist Podcast. Hope you’re ready to make it rain!

?? Listen to or read the full episode here . ??

According to?EventMB , in 2020, 32% of planners did not charge for or did not make revenue from their virtual events, and only 28% of eventprofs were able to pivot to virtual profitably after the onset of the pandemic.

Yet we know that the virtual event space, and need, is going to continue to grow at massive rates – 23.2% per year in fact, according to?Grandview Research Center .

Even with in-person and hybrid events exploding right now due to the ease of lockdowns and travel restrictions, that’s just a temporary swing of the pendulum. As folks remember how expensive and frustrating it can be sometimes to travel, they’ll also remember how convenient it was to attend a virtual event from their home office.

So how do you monetize your virtual event and ensure you have enough revenue coming in to more than exceed your expenses?

We’re actually going to cover?six?different ways that you can make money with an online event or virtual summit. Some of these methods you’ve doubtless thought of or experienced yourself at other people’s virtual events, but because you’ve never heard them all connected in the way that I’m about to, this will have a deeper, more resonate meaning for you.

By the end of this episode, you’re going to understand what you can do, how you can do it, and how it all ties together to drive real revenue for your business thanks to virtual events.

If you haven’t already, be sure to hit Subscribe on your preferred podcast player so that you automatically have the next episode on ROI delivered to your device. There are a lot of moving pieces to what we’re about to cover, spanning multiple tools and platforms, and you’re going to need to know how to accurately measure it all so you can report to the Boss how awesome you really are.

Alright, let’s get in to how to make money with virtual events.