The events following the global pandemic have shown that the hybrid event has become a favored model of many organizers and it is in fact here to stay. The fact that virtual events scale the audience reach and attendance rates is a big plus for many event professionals, and many of them are more than happy to make use of this opportunity. To execute a successful hybrid event, it is essential to streamline the virtual and in-person aspects of the event effectively. A proper strategy always leads to an engaging event experience.
As the hybrid event sector is gaining momentum all across the event landscape, it has become vital for all event professionals to understand the best practices for monetizing their hybrid events. The following tips will help you to up your event strategies and reap the benefits.
Fool-proof Strategy to Monetize the Hybrid Model
In a survey by the online community, it was found that almost 86% of B2B organizers reported a positive ROI of hybrid events within a few months after the actual event.
So, here are the top tips for earning well from your hybrid event venture.
# Creating a spectacular event website
If you are planning to host an engaging hybrid event, then make sure you have an equally engaging website for event promotions. Have a user-friendly and responsive website to reach out to potential audiences. Use the platform effectively to share intriguing details of the event and include the benefits the audience can gain from attending the event. Be clear about the benefits of attending virtual and in-person events.
Add quotes from previous attendees and even share a few highlights of the upcoming events, by adding sneak peek videos.
# Leveraging sponsorship
Integrating sponsored content in your hybrid events is one of the quickest ways to earn revenues. Endorsed sessions, workshops, certification programs, training, and more help you earn better ROIs and give the sponsors a chance to scale their audience reach. If you are interested, you can even let your sponsors speak to the audiences in person or virtually.
# Creating top-tier networking opportunities
One of the best ways to ensure a customized networking experience for the attendees is to have a platform that offers AI-backed matchmaking features. This will help the attendees to connect with suitable prospects during the pre-event.
To create successful networking journeys during the event, you can include numerous activities in your event. These can range from chat rooms, group workshops, to inbound/outbound meetings.
Post-event, if possible, arrange a dedicated space for all the attendees of the event to connect, which will give an opportunity for the attendees who missed out on networking to try once more. This is also an excellent time for you to initiate your post-event marketing strategies.
# Employing online market space
You can include a dedicated space that sells specific products and services for your attendees in the event. The exhibitor marketplace will result in increased ROIs for the sponsors and a perfect area for the audience to make their purchases. Special offers and discounts can be added to attract more attendees to the space.
# Strategic advertising practices
Onsite and online marketing practices are ideal ways to ensure more exposure for your sponsors. Along with banners and logos, you can even include a sponsored networking lounge in your event. When it comes to online advertising, you can add sponsor logos to your email invites, in addition to sponsored notifications and their logos and banners in specific areas of the event platform.
# Support the exhibitors
Since the exhibitors spend a good sum as part of the event exhibition fare, make sure to build a connection with them. Talk with them and ask them if they require any additional assistance from your end. Encourage visitors to attend their exhibitions. Understand their goals and give your inputs if necessary. Maybe help them to set up their virtual booths, discussion panels, and offer them the desired time slot for their exhibition. All these practices will help you earn extra revenue from the event.
# Utilizing event data and reports
Efficiently utilize event data and reports to track the success of your efforts. These data will come in handy when you plan for your next event. For instance, the sponsors can check the data on visitor behavior and get an idea of what the audience really wants and use this info for better investments and ROIs on upcoming events. When it comes to collecting event data, always give importance to reports about in-person and virtual leads, gamification results, inbound leads, and also event follow-up details.
The above tips will help event organizers to successfully monetize their hybrid events. Add extra care to some aspects of your event and you will reap the benefits of your effort.
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