As 2021 begins, event organizers are looking for new virtual revenue sources to get off to a favorable start financially. Online formats offer endless possibilities for event organizers to monetize their event offering and reach larger audiences, so it’s the perfect opportunity to try out new revenue-driving strategies. Read on for our list of 11 ways event organizers can make money online in 2021 and beyond.
Creative Live Stream Content
Your paid live streams don’t have to stop with major event content. Think outside the box and offer exclusives like behind-the-scenes walk-throughs, backstage tours, and informal interviews with your talent or your event staff, to give an inside peek into your events.
Virtual Tipping
Accompany your live streams and other virtual content with the option for viewers to easily provide a monetary tip to your organization, talent, or staff, without ever having to leave your stream! Plus, collect data on who tips and when, and use this to influence future marketing efforts.
Donations
Fans and attendees know that many event organizations are coming off of a challenging year. Consider having a donation option on your ticket purchase page or as part of your live stream so your fans can easily help support your organization!
Video on DemandÂÂ
Your streams don’t have to be one-off experiences! Giving your ticket buyers the opportunity to view your pre-recorded performances, interviews, panels, or classes at any time in a video on demand format enables you to cater to an even wider audience, free of time restraints or scheduling limitations.
Meet & Greets
As a common feature of in-person concerts, conventions, and more, meet & greet opportunities can provide a valuable revenue stream. Offer virtual meet & greet sessions as a standalone experience or as part of a full online event, and work with celebrities, performers, and creators to provide face-to-face video chats between paying attendees and their idols!
Exclusive Merchandise
You can continue to turn your attendees into free brand ambassadors and grow your revenue by offering exclusive branded merchandise such as t-shirts, lanyards, hats, and more! Consider adding merchandise upsells to your online ticket checkout, or directly into your live stream page, adding convenience for your customers while they’re most engaged and helping you sell more merch overall.
Personalized Video Messages
Keep fans and their favorite celebrities, performers, and artists connected by selling personalized, pre-recorded video shoutouts. Invite fans to submit a form providing their name, contact information, and their video message request, and give your talent the ability to provide availability and specifics on the types of messages they’re open to, video length, and more!
Sponsorships
It’s important to explore sponsorships as a key revenue source, and hosting your event online provides many new sponsorship opportunities you can offer. From branded interactive games to sponsored exclusive watch parties, there are plenty of effective sponsorship opportunities for live streams!
Advertising
Pre-stream video messages, newsletter or live stream ad placements, mobile banner ads, and post-stream messaging are just a few examples of advertising options event organizers could sell to relevant, interested parties.
Presales for Future Events
You’re doing well with virtual events, but your team is starting to shift focus back to in-person experiences. Consider offering discounted pre-sales for your future in-person or hybrid events, giving excited attendees something to look forward to, and giving your organization a jump on that ticket revenue.
Hybrid Event Experiences
The perfect event experience isn’t online or in person; it’s both. When it’s safe and restrictions are lifted, reach a wider audience and make your experience accessible to anyone, anywhere, at any time by creating a hybrid event that takes the best elements from in-person and virtual events!
Interested in learning more about how these virtual money-making opportunities can work for your event? Check out our parent company, Patron Technology, for more information!