Ah, the wonderful world of hybrid events! Have you gone down that rabbit hole yet? With nearly 60% of event organizers and marketers sharing that hybrid events will make up most of their 2021 events, we wouldn’t be surprised if you have! Many questions our team is getting right now are centered on monetizing your hybrid event—how do you do it? While hybrid events have a greater reach due to the virtual component, and they’re satisfying that craving for in-person connection for others—they do come at a cost. This means you must monetize them if you’re going to reach that 6-figure event goal.
We want to help you start monetizing your hybrid event. Here are five tried and true options for making money off your hybrid events, not just spending money on them!
Decide Where You’ll Be Generating Revenue: Tickets, Sponsorship, Both?
The best way to start monetizing your hybrid event is to look at two things: ticket sales and sponsorships. While many virtual events have been offered for free over the past year, many organizations are discovering the key to offering valuable content and experiences that warrant a cost—and you can too! Offering tiered ticket options for hybrid and in-person attendees, paired with robust sponsorship is the secret sauce for generating profit from your hybrid events. Depending on the scenario, you may only do sponsorship or ticket sales, and that’s fine, but don’t leave any money on the table!
Design Lucrative, Customizable Hybrid Sponsorship Options
Please, please, please—don’t offer one set sponsorship package for all your sponsors. And don’t have one sponsorship kit for both in-person and virtual attendance. You want to think about them as two separate event sponsorship opportunities, each with its own robust section in your sponsorship kit. Land a call with a sponsor prospect, listen to what their goals are, and then pick and choose great options for them with custom package options.
To prepare for this, break down what you can sell to sponsors for each facet of your event. Here are a few ideas to start with.
Sponsor Opportunities for Virtual, Hybrid, and In-Person Events:
- Banner advertisements
- Commercials during session breaks
- Paid mailers sent to attendees pre-event
- Headline naming rights to be put on all event collateral
- Speaking and facilitator options for breakouts
- C-Suite access
- Media access
- Sponsored micro experiences
- Swag bag sponsorship – virtual or physical
- Networking event sponsorship
- Virtual and/or in-person exhibitor booths
- Lead generation opportunities
- Event app sponsorship – push notifications, games, banners, etc.
If you need a little help, sign up for access to our virtual sponsorship system for a true step-by-step guide with all the tools you need to build your sponsorship program for this new world of events.
Enlist Your Team & Partners to Push Registrations
Again, registrations make money. And more attendees means more value and reach for sponsors and your organization. So, get butts in seats, friends! Enlist the help of your speakers, registered sponsors, business partners, and of course, your team members who interact with your target audience on a daily basis.
Create fun engaging collateral and email/ phone prompts that will help them sell, sell, sell!
Sell Merchandise or Products
When you visit a new vacation spot or become a part of a new gym or online fitness community—what do you do? You buy the swag and rep it proudly. So, why wouldn’t attendees do that for your company or event? Buy branded swag or swag with fun sayings that bring a smile to people’s faces, encouraging them to pull out their wallets. Plus, designing swag is super fun! You can offer it as an add-on at registration too so they can wear it on day one of your event or sip on coffee in your branded mug at home while logging in virtually!
Upsell Before, During & After the Event
We always say if you don’t try and upsell at your event, you’re leaving money on the table. One major pro of virtual and hybrid events is you have the tech in place to stream sessions, so why not record them and get more bang for your buck? Use that content after the event for paid training opportunities or promo for next year’s event registrations. Before and during the event, offer paid opportunities for premium VIP experiences guests can enjoy. Options include small group micro experiences exploring the in-person destination or giving access to a VIP guest or celeb. You can also add paid training that offers certifications on-site for an increased cost. You already have the space, maximize the revenue!
Ready to Start Monetizing Your Hybrid Event? You Got This, But We Can Help!
Our founder & owner, Alecia May, is offering her exclusive one-on-one coaching for the fall. If you need help figuring out the best way to start monetizing your hybrid event, this is your chance to get expert help that will lead you to six-figure revenues! Schedule your complimentary strategy call to see if it’s the right fit for you to reach the next level with your hybrid events.