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How Automation Is the Key to Making Money for Virtual and Hybrid Events

By Lori Cioffi Miguel Neves

The final part of our four-part series of recordings from the Event Innovation Lab™ at IMEX America focuses on the challenges around monetization of virtual and hybrid events. Get a fresh and somewhat contrarian take on how to generate revenue from online event experiences. 

As we continue to deal with the Covid pandemic, it’s more important than ever to make sure we are aware of the best practices on securing revenue from sponsorships and other forms of monetization. It’s equally important to be open to fresh thinking and new ideas on this crucial topic.

The Automatic Attendee

Endless Events Founder Will Curran shared his thoughts on the best ways to balance internal spending and secure revenue from sponsorships as well as other forms of monetization. He said planners need to start treating each event “like a business,” charging appropriately for “our value.”

Curran outlined some of the biggest challenges faced by planners and then offered several suggestions for creating new revenue streams for events. Key, he said, is creating predictable revenue through automation. One way to do so is by adopting a community subscription model, where attendees pay a monthly fee for access to content, whether it be a watch party, a webinar, or a live event.

Curran also encouraged planners to consider focusing on niche communities over generic ones and creating multiple small events instead of fewer large ones. Finally, in a concept that took many by surprise, he suggested that planners charge for multiple events in one go. All of it, he said, ties into hybrid events.

Explore the other posts of our four-part series of recordings from the Event Innovation Lab™ at IMEX America.

1. Part 1: The Formula for Making Hybrid Events a Success

2. Part 2: Going Above and Beyond to Design Inclusive Experiential Events

3. Part 3: Connection, Entertainment and Choice Are Key Ingredients for Audience Engagement

about the author

Lori Cioffi
Lori has extensive experience as a content strategist in the international business events industry. She was named one of BizBash Media’s Top People in the Events Industry in 2018 and 2019 and is a proud recipient of the Medal of Tourism from France. She delights in connecting people, places and industry partners for their common gain. 
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Miguel Neves
Miguel is EventMB’s Editor-in-Chief and likes to describe himself as a, "curious creator and caring curator of computerized content and a conscious connector of charismatic characters". He lives and breathes the event tech sector and is deeply engaged in the global online community of event professionals. Miguel is a Portuguese soul who built a career in the UK and is now raising a young family in southern Denmark.
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