When it comes to increasing your overall event revenue, it’s important to think beyond just ticket sales. What else could you offer to boost your revenue while also adding to your attendees’ overall event experience? Read on for our event experts’ list of five ancillary revenue sources to help grow your bottom line; some you may already utilize, others might be the perfect addition to your next event!
Turn your attendees into free brand ambassadors and grow your revenue by offering exclusive event-branded merchandise such as t-shirts, lanyards, and hats. You’ll be providing your attendees a keepsake to remember your event, while exposing their friends and family to your brand name. Plus, for an added pre-show revenue boost, consider adding merchandise upsells to your online ticket checkout, adding convenience for your customers while they’re most engaged and helping you sell more merch overall!
Sponsorship opportunities are an integral part of countless event budgets, and many are easier to offer than you may think. With a crowd of engaged attendees all in one space, your event is the perfect place for sponsors of all kinds to reach interested audiences. In terms of specific placement opportunities, the possibilities are virtually endless. Event-wide or individual stage naming rights, after-parties or side events, photo booths, phone charging stations, and even the name of your event’s WiFi network all offer powerful sponsorship opportunities. Not to mention, most venues will have plenty of space ripe for sponsor signage and branding.
If it’s not already a feature of your event, consider adding a vendor alley to create more opportunities to connect your attendees to third-party organizations that align with their interests, all while increasing your revenue. Depending on the type of event you are producing, vendors including artists, collectibles dealers, industry professionals, and even local food trucks and restaurants will be more than willing to purchase a space at a high-traffic event, filled with engaged potential customers. Plus, if you want to be sure your vendors mesh well with your event’s theme, you can also require vendors to first submit an application before being approved to purchase a space!
Offer light display ad placement in your email newsletters, paid posts on Facebook and Instagram, ad space in your official event program or handbills, or even display ads on your event’s website in order to capitalize on another untapped revenue source. Your engaged, devoted audience represents a great chance for a successful return on ad spend for your advertisers, making your event an attractive brand to partner with!
Who doesn’t want to be a VIP, right? By offering inexpensive perks like closer parking spaces, early entry, and private restroom access, a VIP upgrade package could be just what your event needs to drive revenue without the need for many additional resources. Build out custom VIP levels to suit your event, and you may be surprised at just how high your ROI can soar!