It can be difficult finding ways to generate revenue outside of membership dues. As you may have discovered, monetizing digital content is one of the lucrative solutions for generating revenue with a low overhead cost. But learning how to monetize that digital content can be a difficult process. What kind of content you produce, how you share it and how often you generate it are all common questions that your organization will face.
Pathable is proud to offer powerful virtual, hybrid, and in-person event solutions that provide vital non-dues revenue sources for your organization. We’ve gathered five of the best ways to generate revenue from your event content that will help your organization reach their revenue goals.
1. Live stream your content with tiered ticket sales
A great opportunity for your event content whether your event is virtual or in-person – or a mix of both – is to live stream your content to broaden your audience and open the door to more ticket sales. Live streaming can open the door to a global audience and make your information available to those who otherwise may not have been exposed to your organization.
When it comes to live-streaming your event content, there are even more opportunities to capitalize it through tiered ticket sales. Instead of just offering one base ticket price, offer at least one “premium” level that will provide a more enhanced or comprehensive experience for the ticket holder. This allows ticket holders a more economic option that offers a basic amount of access, while also providing a premium option that gives full access to those who pay a higher ticket price. Viewers have more control, and your organization can capitalize on a higher profit for a portion of ticket sales.
2. On-demand content after the event
Once your event closes, you can also offer recorded versions of your live content that viewers can download to view at their leisure. This is an incredibly valuable resource for your audience as this information can be referenced at any time.
When tying this concept in with tiered ticket sales, you can include this on-demand access for your highest premium ticket option, as well as reducing the amount of included content for any lower grade ticket tiers. You might even choose to have your lowest ticket tiers purchase this on-demand content separately entirely.
Outside of ticket sales, this content can also be made available to non-ticket holders altogether. By making your content available for purchase to anyone, you’re widening your audience even more and increasing brand recognition. Like the tiered ticket sales, you can package your on-demand content in varying package sizes. For example, you might offer a full package, several packages with different combinations of sessions or speakers, and then a la carte options that allow your audience to pick one session or speaker individually for reduced prices.
3. Group sales
Depending on your organization or association’s audience, it may be worth looking into booking group sales for your live streamed content. For example, if your event is targeted to the medical industry, you may want to advertise discounted ticket sales to hospitals or other medical groups. While the ticket price itself may be reduced, your number of ticket sales will increase significantly since you’re targeting a much larger client as a whole. This can apply to other industries and settings like law offices, school districts and universities, or municipalities or government bodies.
4. Host an online store
In addition to selling your on-demand content, you may find it rewarding to host an online store as well. Creating merchandise for your audience can be as simple as placing your organization’s logo on t-shirts, sweatshirts, mugs, or even stickers. You can also sell event-specific merchandise that includes your event logo (don’t forget about sponsored exhibitor logos as well). Don’t limit yourself to physical merchandise either; you can also sell digital downloads like infographics and slide decks, and even allow visitors to make donations if they’re not interested in receiving a product. If you’re new to e-commerce, learn more about how to start an online store here.
5. Use ad space
Lastly, you can offer ad space on your website during and after the event to exhibitors and other sponsors. Examples of ads include videos that appear before event content loads, banner ads on the sides or top of landing pages, and even ad space on downloadable materials. This is valuable space for your sponsors who want to present their brand to your audience. However, it is also important to take caution when utilizing ad space as you don’t want to overwhelm your audience or distract from the content at hand.
These five examples can provide convenient sources of non-dues revenue for your organization. Even better, these solutions can all be applied simultaneously. For more ideas, read our previous blog outlining auctioning as another source of non-dues revenue.
Pathable is your solution to plan, promote, and power your in-person, virtual and hybrid events all in one robust platform. If you’re ready to start planning your next event, click here for an event planner’s guide to event analytics and metrics or contact us today to schedule a demo.