{"id":22167,"date":"2020-08-07T13:08:54","date_gmt":"2020-08-07T07:38:54","guid":{"rendered":"https:\/\/wp-eventmanager.com\/?p=22167"},"modified":"2024-11-19T16:30:29","modified_gmt":"2024-11-19T11:00:29","slug":"monetize-virtual-events","status":"publish","type":"post","link":"https:\/\/wp-eventmanager.com\/monetize-virtual-events\/","title":{"rendered":"5 Most Effective Ways To Monetize Your Virtual Events"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">In-person events might be irreplaceable but the value of virtual events can not be ignored. This is the reason why many organizations are getting inclined toward the concept of virtual events. It is beneficial in many ways especially when it comes to increasing event registrations, networking and improving attendee management. <\/span><\/p>\n<p class=\"text-center\" style=\"width: 100%;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/wp-eventmanager.com\/wp-content\/uploads\/blog-images\/2020\/ways-to-make-money-from-virtual-events\/effective-ways-to-monetize-virtual-events.jpg\" alt=\"monetize-virtual-events\" width=\"1080\" height=\"400\" title=\"\"><\/p>\n<p><span style=\"font-weight: 400;\">During the covid period, virtual events become one of major sources of revenue for many businesses. However, due to its endless number of benefits, event planners are still using the digital platform to host their events so that the people who are not able to join their events physically can be a part of it virtually. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you too host virtual or hybrid events and want to monetize them, this article is for you. We have shared some of the useful ways to make money from your virtual events. Read the entire article to learn about them. <\/span><\/p>\n<h2>Why you must try to monetize your virtual events<\/h2>\n<p class=\"text-center\" style=\"width: 100%;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/wp-eventmanager.com\/wp-content\/uploads\/blog-images\/2020\/ways-to-make-money-from-virtual-events\/virtual-events.jpg\" alt=\"virtual-events\" width=\"1080\" height=\"400\" title=\"\"><\/p>\n<p><span style=\"font-weight: 400;\">Virtual events are in trend now because of its convenience, wider reach and scalability. In addition to that, virtual events are also known for their remarkable return on investment and measurable results. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For all these reasons, virtual events offer you multiple opportunities to earn through them. All you need to do is to plan, contact sponsors and exhibitors in advance and create various scopes for attendees to interact online. <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">By monetizing your virtual events, you can bring back the money you spend on the events and save them for the upcoming ones.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This can be an additional source of income for you besides ticketing.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It helps you cover the event costs.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Virtual events attract more audiences which means you can get more qualified leads to turn into sales in the future.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You can save the virtual event and charge people to view it in the future that extends your revenue opportunities.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The best part about virtual events is that businesses do not need to break their banks to organize them. Moreover, it extends audience reach which means with a little investment business can get a better scope of earning. <\/span><\/li>\n<\/ul>\n<h2>How much do you need to spend on organizing a virtual event?<\/h2>\n<p><span style=\"font-weight: 400;\">While calculating the cost of a virtual event, you need to consider the various elements that are required to conduct it. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of these elements include the following: <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A dedicated WordPress events website.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An efficient virtual events platform.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Good content for the audiences.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">High quality tech set up.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Things to engage your audience.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Virtual event promotion and more.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you still do not have an events website you must create one with some strong event management features including calendar, ticketing and registration. We recommend <\/span><strong><a href=\"https:\/\/wp-eventmanager.com\/\">WP Event Manager<\/a><\/strong><span style=\"font-weight: 400;\"> which is one of the most efficient and affordable WordPress event management plugins. It is highly customizable which is capable of fulfilling all your business requirements. <\/span><\/p>\n<p class=\"text-center\" style=\"width: 100%;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/wp-eventmanager.com\/wp-content\/uploads\/blog-images\/2020\/ways-to-make-money-from-virtual-events\/virtual-event-platform.jpg\" alt=\"virtual-events-platform\" width=\"1080\" height=\"400\" title=\"\"><\/p>\n<p><span style=\"font-weight: 400;\">Besides a website, the most important thing that you need to consider is a virtual event platform. You can\u00a0rely on a <strong><a href=\"https:\/\/wordpress.org\/\" target=\"_blank\" rel=\"noopener\">WordPress<\/a><\/strong><span style=\"font-weight: 400;\"> plugin like <\/span><strong><a href=\"https:\/\/wp-eventmanager.com\/product\/expo-networking\/\">Expo Networking<\/a><\/strong><span style=\"font-weight: 400;\"> offered by WP Event Manager to conduct your <\/span><strong><a href=\"https:\/\/wp-eventmanager.com\/virtual-event-platform\/\">virtual events<\/a><\/strong><span style=\"font-weight: 400;\">. It has some amazing features that not only take care of your event but also create multiple opportunities for your audiences to interact through Q&amp;A sessions, interactive booths, exhibitors tables and more. <\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The core plugin of WP Event Manager is absolutely free, you just have to pay for the premium ones. Moreover, it has a flexible <\/span><strong><a href=\"https:\/\/wp-eventmanager.com\/pricing\/\">pricing structure<\/a><\/strong><span style=\"font-weight: 400;\"> which allows you to purchase the premium addons either in bundles or individually. You can pick one based on your budget and requirements. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then comes the event marketing costs. Marketing costs fall under the category of necessary expenses. This is because, no matter how well you have prepared for your events, if you fail to reach out to your target audiences then all your efforts will go in vain. So you need to plan your marketing costs very carefully. You can go for free marketing methods as well if you are tight on budget but planning is crucial at this stage. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">So the entire cost of your virtual events depends on the above mentioned elements. <\/span><\/p>\n<h2>How to calculate the event (ROI)? <\/h2>\n<p><span style=\"font-weight: 400;\">There is no rocket science behind measuring the return on investment for your events. You just need to deduct the total cost of the event from the event revenue.<\/span><\/p>\n<p class=\"text-center\" style=\"width: 100%;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/wp-eventmanager.com\/wp-content\/uploads\/blog-images\/2020\/ways-to-make-money-from-virtual-events\/revenue.jpg\" alt=\"revenue\" width=\"1080\" height=\"400\" title=\"\"><\/p>\n<p><span style=\"font-weight: 400;\">Follow the below mentioned formula to get the correct percentage:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">ROI (%) = [(Event Cost)-(Revenue) ]\/Event Cost x 100<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Make sure the result is not negative because if it is negative it means you are at a loss. On the other hand if your ROI result is high then it is an indication that you are on the right track. <\/span><\/p>\n<h2>5 Most effective ways to make money from virtual events <\/h2>\n<h3>1. Make money from your virtual events with paid registration <\/h3>\n<p><span style=\"font-weight: 400;\">The first step that you can take to monetize your virtual events is by charging your audiences to register for your virtual event. For this you need to have a strong event content to encourage people to pay for it. <\/span><\/p>\n<p class=\"text-center\" style=\"width: 100%;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/wp-eventmanager.com\/wp-content\/uploads\/blog-images\/2020\/ways-to-make-money-from-virtual-events\/paid-registration.jpg\" alt=\"paid-registration\" width=\"1080\" height=\"400\" title=\"\"><\/p>\n<p><span style=\"font-weight: 400;\">Consider the following ideas to add paid registration to your virtual events: <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Make sure you have something unique to offer to your audiences and let them know about why they should attend your event and what benefits they will get from it.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Let your audiences know about the speakers who will be present at your event.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Don&#8217;t forget to reveal your event activities, agenda, and other related details of your event. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">To manage bulk registrations, it is better to rely on an efficient WordPress plugin like <\/span><strong><a href=\"https:\/\/wp-eventmanager.com\/product\/wp-event-manager-registrations\/\">Registration<\/a><\/strong><span style=\"font-weight: 400;\"> from WP Event Manager and if you are opting for a paid registration then you need to have the Sell Tickets addon as well to complete the process. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The addons have the right to help manage the entire process with ease and also leave a good impression on your audiences as these plugins will also make it easy for them to register and pay easily for your events. <\/span><\/p>\n<h3>2. Promote your events effectively <\/h3>\n<p><span style=\"font-weight: 400;\">When it comes to monetizing any types of events, promotion becomes necessary because it is all about reaching out to as many people as possible. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Consider the following ideas for virtual event promotion:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Use social media platforms to promote your events.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Use the power of email marketing and newsletters.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Ask your event speakers, sponsors and exhibitors to spread your event awareness among their audiences.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Highlight your event on your events website.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Use online banners for your virtual events and more.<\/span><\/li>\n<\/ul>\n<h3>3. Offer visibility to your sponsors and exhibitors<\/h3>\n<p><span style=\"font-weight: 400;\">It is better to give better exposure to your sponsors, partners and exhibitors because most companies look for marketing opportunities and they will most likely spend a good amount for that as well. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Consider the following ways to give exposure to your sponsors and exhibitors.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Add exhibitors booths to virtual events.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Introduce your audiences with your exhibitors on your website and social media pages.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Use exhibitors banners on your virtual events lobby to drive attention.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Give a webinar slot to your exhibitors.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Offer sponsorship packages.<\/span><\/li>\n<\/ul>\n<h3>4. Use a mobile application <\/h3>\n<p><span style=\"font-weight: 400;\">When your ultimate aim is to monetize your virtual events, a mobile application can be extremely useful. A good event mobile application can provide you useful insights about your events that you can utilize to market your future events and increase your ROI through it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Use the <\/span><strong><a href=\"https:\/\/wp-eventmanager.com\/product\/mobile-app\/\">mobile application<\/a><\/strong><span style=\"font-weight: 400;\"> of WP Event Manager that not only lets you track your attendee check ins and check outs but also show attendee details and offer real time analytics and information.<\/span><\/p>\n<h3>5. Sell Merchandise<\/h3>\n<p><span style=\"font-weight: 400;\">Virtual events bring multiple scopes to sell your products. You can sell tshirts, badges, caps and more with your event logo to earn money from your virtual events. You can do it either before the event or arrange a space on your virtual events to sell these products.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We hope these ideas will help you make money from your virtual events with ease. <\/span><\/p>\n<h2>How to conduct a virtual event? <\/h2>\n<p><span style=\"font-weight: 400;\">Virtual events are completely technology driven events and that&#8217;s why you need to ensure that you have a laptop, high speed internet connection, speaker and a powerful virtual events platform like WP Event Manager. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conducting virtual events can be challenging if you fail to give enough space and opportunities for your attendees to engage. Having Q and A sessions, exhibitor booths, interactive sessions, live chat facility and more are very important in this regard.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is the reason why we recommend the Expo Networking plugin for your virtual events. It has all the features that help you conduct high quality virtual events. Whether you want to initiate a virtual exhibition or networking event, the plugin is suitable for all types of virtual events. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you want to know more about virtual events and how you can conduct them, read our blog <\/span><strong><a href=\"https:\/\/wp-eventmanager.com\/holding-virtual-exhibition-on-wordpress-website\/\">Holding a virtual exhibition on your WordPress website: A complete guide (2022)<\/a>.<\/strong><\/p>\n<h2>Wrapping up <\/h2>\n<p><span style=\"font-weight: 400;\">For every business earning revenue is extremely important. Events are generally organized for the purpose of networking and marketing. Earning revenue from such virtual events can be an additional source of income for many businesses. You can start with offering paid registration to your audiences, then build an effective promotional strategy, add visibility to your exhibitors and sponsors, sell merchandise and use a good mobile application. We hope that these ideas will help you maximize your revenue from your virtual events. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In-person events might be irreplaceable but the value of virtual events can not be ignored. This is the reason why many organizations are getting inclined toward the concept of virtual events. It is beneficial in many ways especially when it comes to increasing event registrations, networking and improving attendee management. During the covid period, virtual [&hellip;]<\/p>\n","protected":false},"author":7104,"featured_media":22175,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[352],"tags":[842,843,1536,844,808,809],"class_list":["post-22167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","tag-make-money","tag-make-money-from-virtual-events","tag-monetize","tag-tips-to-make-money","tag-virtual-events","tag-zoom-meetings"],"acf":[],"_links":{"self":[{"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/posts\/22167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/users\/7104"}],"replies":[{"embeddable":true,"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/comments?post=22167"}],"version-history":[{"count":0,"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/posts\/22167\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/media\/22175"}],"wp:attachment":[{"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/media?parent=22167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/categories?post=22167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp-eventmanager.com\/wp-json\/wp\/v2\/tags?post=22167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}