Physical events draw revenue through sponsorships, and the scenario is no different for virtual events. But monetizing a virtual event efficiently can be quite tricky. If you, too, wonder how to monetize your virtual events effectively, you have come to the right place.
There are ways in which you can monetize your virtual event at every stage: this includes pre-event monetization, in-event monetization, and post-event monetization. According to a report, 80% of the corporate sponsors are interested in investing in virtual events, provided they get enough user interaction. Therefore, before planning your virtual events’ monetization, it is vital to choose an ideal virtual event platform that allows your audience to interact elaborately using its distinct features.
According to research, 65% of virtual event organizers accept sponsorships for their events. And you, too, can get sponsors for your virtual event with the help of FLOOR- a virtual event platform.
This blog will throw light on digital event sponsorship ideas to monetize your virtual event in 11 easy ways.
1. Sponsor Booths
Physical events generate revenue by organizing booths or stalls for sponsors to interact with the audience. You might think that is not possible at a virtual event. But what if I tell, you can monetize your virtual event by setting up booths for the sponsors? With FLOOR’s create a booth option, you can provide unique booths to your sponsor – where they can have their company logo, offerings, and a dedicated host to interact with your audience.
2. Email Mentions
Why not use your email marketing efforts as a tool to monetize your virtual event? You can create an exclusive package for your sponsors to feature the sponsor ads along with your virtual event details in the emails you shoot out to your targeted audience. You can utilize various emails such as the promotion email, confirmation email, and reminder emails, depending on the sponsor’s tier.
3. Sponsor Banners and Tickers
Event platforms that support banners from sponsors are a preferred way to host your virtual events. Monetize your virtual events by displaying rotatable advertisements of your sponsors through such banners. You can also utilize the sponsor ticker feature displayed at user-friendly locations on the FLOOR or your event platform.
4. Video Advertisements
Video content is highly interactive and a preferred way to engage an audience. You can place the sponsor’s video advertisements before, during, or after your sessions. You can also prompt the audience to view a short video advertisement for your sponsor during the breaks.
5. Host VIP Pre or Post-event Packages
Hosting a particular VIP session post the main event would serve as a bonus to the event and an extensive networking opportunity for all the VIPs. This can be a session specially dedicated to the VIPs of the event. With FLOOR, you can allocate lounges and rooms to your VIPS to network with each other.
6. Keynote Sponsorship Activity
Nothing charms the sponsors like an opportunity to interact with your audience. This is one of the best virtual sponsorship ideas.
Monetize your virtual event by providing your sponsor an opportunity to lead a session, activity, or presentation just like it happens at a physical event. A higher tier sponsor’s speech can be one of the main keynote sessions in your event.
7. Promote Sponsors on Social Media
60% of the virtual event organizers use social media to get significant registrations. When you promote the virtual event on social media, make sure to shout out to your sponsors. You can also conduct pre-event social media activities like contests or games in association with your sponsor.
This would not only improve brand awareness but also increase engagement on your social media posts. This is an effective way to monetize your virtual event.
8. Giveaways and gift bags to the attendees
Virtual event giveaways are becoming increasingly popular. It can be an exciting idea to send a digital gift bag to all the attendees. You can even promote your event by stating, “Get a Gift Bag at the end of the session” Apart from monetizing your virtual event, this will ensure that the audience attends the event right up to the end.
Gift Bags can include vouchers, discount coupons, online courses, free trials, or anything that can help your sponsors market their product/service.
9. Q & A Session
Suppose your sponsor is hosting a session or two. In that case, it is a good idea to offer them an opportunity to sponsor a Question-and-Answer session too. This is an exciting way that the sponsors and audience can interact. Another way of doing this would be to take questions throughout the session from the audience and ask the sponsors to answer them towards the end of the event. Use the QnA feature of FLOOR to monetize your virtual event with ease.
10. Handouts
Handouts containing the sponsor’s information or offers can be distributed during the sponsor’s keynote address or when giving the digital gift bag to the audience. The handouts can help monetize your virtual event by showcasing a list of your premium sponsors and their offerings. FLOOR has an interactive option of distributing handouts to your audience.
11. Chargeable Tickets
Finding the right sponsor who takes a keen interest in online sponsorship opportunities can be tough sometimes. That’s why always ensure that your virtual event platform has a ticketing and registration facility. This makes the process convenient for the organizer and the attendees, apart from just monetizing your virtual event.
If your event has a line-up of prominent speakers, the attendees would be more than happy to pay for the tickets. But remember that audience would pay only if your event provides enough value. To make the tickets affordable, you can divide the tickets into different segments.
- Economy Tickets – These tickets can be provided to individual attendees who wish to attend the event.
- Corporate Tickets – These tickets can be sold as a package to corporates who would be interested in conducting a virtual event for their employees.
- VIP Tickets – These tickets can be reserved for high profile attendees like speakers and sponsors
- Referral Tickets – You can promote through a referral program that allows a person to refer your event to their friends and earn a discount.
- Preview Tickets – These tickets can be considered a free pass to provide a glimpse of what you are offering to the audience.
With FLOOR, you can create an engaging virtual event and also monetize your virtual event easily. This can be done by effectively utilizing all the features that the platform provides. Having a monetization strategy for your virtual events is essential. Use the above tips to edge ahead of others in the event industry and start benefitting in various ways from your virtual event.
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