Why virtual events are a great money-making opportunity
Virtual events are a great way to reach a larger audience than you could with an in-person event. They're less expensive to produce than in-person events, and you can generate revenue from sponsorships and advertising. You can also run your virtual event on a recurring basis, allowing you to generate ongoing income streams.
In this article, we'll cover:
- How to find sponsors for your event
- How much you should charge for sponsorships
- Selling merchandise for your event
- Selling tickets
- VIP Meet and Greets
- Event Promotion
Let's get started!
How to find sponsors for your virtual event
Providing value to event sponsors is a great way to earn money from a virtual event.
The first step in finding sponsors for your virtual event is to define your audience and understanding who you're targeting. For example, are you hoping to attract business professionals, parents with kids in school, or tech enthusiasts? Once you know this, start researching potential sponsors that align with your target audience.
When you have a clear idea of who your virtual event is meant for, the next step is to research potential sponsors. This can be done through online sources, contacting businesses directly, or speaking with event planners who have organized similar events before. To find potential sponsors, start by looking at businesses that are relevant to your event's subject matter. For example, if you're hosting a virtual event about sustainable fashion, look for clothing companies that focus on eco-friendly practices.
After gathering information about potential sponsors, it's time to create a sponsorship deck or pitch to present to them. This will outline the benefits of sponsoring your virtual event and highlight any unique aspects of their company that would work well within the context of the event.
Follow up with potential sponsors after your initial pitch. After presenting your sponsorship deck or pitch to potential sponsors, it's important to follow up and see how things are progressing. Be sure to keep all stakeholders updated on the status of negotiations so everyone knows where they stand and remains confident about the project moving forward. Often, you'll have to follow up multiple times to close the sale.
How much should you charge for sponsorships?
The amount to charge for a sponsorship depends on the size, scope, and audience of your event.
It's also important to think about the value of the sponsorship to the sponsor. Based on this value, you can offer different tiers of sponsorship, each with its own benefits and price point. This way, sponsors can choose the level of support that best fits their needs and budget.
When you're negotiating with potential sponsors for your virtual event, don't be afraid to ask for what you want. They may be willing to pay more than you initially ask for, so it's always worth trying to negotiate a higher price. Remember, the worst they can say is no!
Finally, always keep the sponsor's goals in mind when planning your event and working with them - this will help ensure that both parties are happy with the arrangement and make sure that your pitch aligns with what a sponsor wants.
Keep in mind that sponsorships are just one way to generate revenue for your event! Keep reading to learn more ways to monetize your event.
Sell merchandise
Before your event, you can sell merchandise to drive interest in the event. Offer a variety of branded items for sale, including t-shirts, mugs, and other products.
Make sure prices are competitive and that your products are high quality so they will be worn after the event.
Consider partnering with a companies like Shopify and Printful to help with fulfillment, shipping, and upfront costs. Using those tools, you'll be able to create your design, sell it on any type of apparel you'd like through Shopify, and print and ship it automatically with Printful.
Selling tickets
Selling tickets is a great way to earn money for your event.
When pricing your tickets, it's important to consider how many people are expected at your event, as well as how much each person is likely to spend. You'll also want to make sure that your ticket price is competitive with other similar events. Keep in mind that you may need to offer discounts or early-bird pricing to encourage people to register for your event. It's also important to consider what other costs you'll incur in running your virtual event, such as hosting fees, marketing costs, and so on. Ultimately, the best way to determine an appropriate ticket price is to experiment and see what works best for your particular event and audience.
Offering tiered ticket prices can be a great way to make money from your virtual event. By catering to different audiences, you can reach a wider range of people and generate more revenue. Make sure to clearly explain the value proposition of each ticket level, so attendees know what they're getting for their money.
ConferenceTap makes this easy, giving you a custom ticketing page with the ability to offer multiple tiers.
One of the most important things you can do in order to promote your virtual event is make sure that all the information about it is available online and on social media sites. This includes everything from the date and time of the event to instructions on how to buy tickets!
VIP Speaker Meet and Greet
VIP meet and greets are a great opportunity for virtual event organizers to make money. Depending on the size and scope of your event, you could charge attendees a small fee to have the chance to meet and greet well-known celebrities or experts from various fields. This can add an extra layer of excitement and interest for participants, helping to boost attendance figures.
It is also important to keep in mind the expectations of your attendees when it comes to participation in your meet and greet events. Some may want only brief encounters while others may want more time spent talking with their favorite celebrity or expert. be flexible in how you structure these events so as not to disappoint any of your guests.
Finally, make sure that you track attendance figures for each VIP meet and greet event so that you can determine whether or not it was a success overall. By doing this, you will be able to identify any areas where improvements need to be made in order for future events to be even more successful
How to promote your event
To make money from running a virtual event, start promoting it as soon as possible.
To do this, it's important to use an event platform that includes a registration page.
Use social media to spread the word and create a compelling event page. Make sure to post regularly about your event and include information that will interest potential attendees.
In addition to using social media, send out email invitations to your existing user base. By starting your promotion early and using a variety of marketing channels, you can ensure that your virtual event is successful and profitable.
