Welcome to the Cvent Community! It's time to kickstart the next edition of the Tip of the Week discussion! Event monetization-the process of generating revenue from an event-is the quickest way to recoup your event costs and generate revenue.
There are many ways to generate income as your event is underway. These include:
1. Ticket Sales
Ticket sales are the first thing that comes to mind when one thinks of generating event revenue.
- Tiered Ticketing
- Early Bird Discounts
- Coupon Codes
2. Sponsorships
Getting sponsors for your event reduces some of the costs of organizing it.
- Speaking Opportunities and Publicity
- Tiered Sponsorships and Publicity: Big events such as business expos, film festivals, and others generally have various sponsorship options. Each sponsorship option brings with it sponsor benefits and perks
3. Merchandise Sales
As an event organizer, you can make your event profitable through event merchandising. These include things like mugs, swag bags, logoed stationery, t-shirts, scarves, and other giveaways.
4. Advertisements
Selling ad space to build on event revenue also applies to hybrid and virtual events. Your event website provides the "real estate" for ads. It should be exclusively mobilized to garner attention for both the events and the ecosystem of advertisers and sponsors that are part of your event.
5. Mobile Event Apps
Building event apps exclusive to each event has become a convenient way for both attendees and organizers to provide all the information and updates about an ongoing or planned event.
Remember to adapt these techniques for virtual, hybrid, and in-person events, and always prioritize audience engagement to ensure long-term success.
#EventApp------------------------------
Megha Jetley
Manager, Customer Marketing
Cvent Marketing Department
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