Digital events ROI: Revenue Streams

Did you recently launch a digital event and wonder how to make it financially viable? 

It might be a bold statement but we believe that online events stop being events in the traditional meaning of the word and become digital media. Information consumption is no longer defined by time and physical location and activities can be tracked for performance. 

For physical events, revenue is coming from sponsors, exhibitors and attendees. To organise an event, you had to cover the costs of logistics, marketing, people and travel. 

To organise an online event, the costs are 75% lower, but where can you generate revenue from? 

01/

Sponsorships

Online events are heaven for all these sponsors and their marketing teams who were struggling to track ROI from traditional events. If you can bring them the same or more attendees and transition the benefits from a live event to a digital environment, you've got them! Why are we so sure? With or without the pandemic, marketers need to hit set objectives. The lack of physical events means fewer channels to hit these objectives. If your online event gives them the chance to market to a captive audience and measure key metrics, this is pure bliss for them!

02/

Display advertising

Your event has a competitive advantage against most publisher websites in your industry. Why? 

How often do you give your employer name and job title when you visit their website to read an article? You have a captive audience and you know who are the people comprising this audience. Make sure to capture the right details on your attendees when they sign up, get it covered in your privacy policy, and you'll be a winner! While others rely on Google and Adobe analytics audience reports, you can impress advertisers with more details on who your audience is - as your content is gated. Find the right places where advertisers can showcase their brand and products in a user-friendly way and sell these advertising positions to them. 

03/

Freemium memberships

Think of the online event as a membership benefit rather than an event ticket sold to an attendee. You need the audience for your sponsors and advertisers but could you offer more enhanced benefits to members that are willing to pay? You could offer services such as the ability to network with other members, exchange contact details, enable knowledge sharing, perhaps offer some exclusives, maybe even some branded merchandising? Invest in the right technology that will give you the desired functionality. Just think of it as a continuum instead of a one-time ticket.