Monetization of virtual events: Hacks During the Event

Monetization of virtual events is a process that starts way before the event and goes beyond the event. We have already discussed various avenues of generating revenues in pre-event elements. The real peak of monetization comes during the event. After all, that’s when the real action takes place. In this article, we will discuss all such ways to attract sponsors during the event-

How to monetize your virtual event during the event?

Branded Sessions

• As the event is divided into so many different sessions, you can divide your sponsorship packages accordingly. This is possible via sponsored/branded sessions wherein the sponsor logo and brand name are displayed in session title.
• This practice is useful for both event planners and event sponsors. On one hand, the event planner has the option of opening a new revenue stream with every session. At the same time, a particular brand is more willing to sponsor a session which is directly related to its target audience.

Sponsor Ticker

• On the virtual conference screen, you can show sponsor logos in ticket formats. These are clickable and the interactions can be traced.
• You can showcase sponsor ticker at user-friendly locations on the screen to create visibility.
• The ability to measure the interaction with touchpoints makes sponsor ticker a favorite option for sponsors. For you, it’s another source for generating revenues.

Stage Time

• Sponsors want to interact with the attendees as closely as possible. By providing them the stage presence, you can fulfill their endeavor.
• There are basically two ways to do this. You may either play sponsor videos at the start or the end of sessions. Or you can provide them with their own session where they can interact with the attendees.

Parallel Session

• If you think that bombarding sessions with sponsored content will disengage attendees, there’s another way!
• You can have parallel sessions along with your regular session. In those parallel sessions, sponsors can separately carry out interactive sessions with attendees visiting their window. Although the number of attendees they get to interact with will be lesser, but these are the attendees who voluntarily go to visit parallel sessions. So, sponsors will get better-qualified and more promising leads.
• Depending on sponsor size, you can issue the license for multiple booths. This allows them to host more than one private session in parallel.

Sponsor Booth

• Exhibitor booths are one of those places where two-way communication takes place during an event.
• You can provide sponsors with exhibitors booths where they get a chance to interact with attendees in a better way.

Social Lounge Naming

• Event attendees visit the social lounge voluntarily on their own wish. It is where they gain strong organic connections via conversations. The concept of sponsored/branded networking lounge is already very popular in physical events. You can apply the same in virtual events as well.
• Moreover, you can have multiple public lounges (and a sponsor for each one of them!). Whether it’s a networking lounge or a smokers’ room, both are monetization options for you.

Logo on Screen

• If you want to make a fine balance between attendees’ event experience and sponsor’s needs, this is one of the best ways to do so.
• You can ensure the constant presence of sponsors by placing their logo on the corner of the video stream.

Sponsor Offers

• Sponsors prefer to release short term exciting offers to grab the attention of the event attendees. You can show sponsor offers during the event to channelize a part of attendees towards the sponsors.

Speaker slot for key sponsors

• You know well how important your keynote speakers are and the impact they have on the attendees. Have you thought about providing a speaker slot to your key sponsors?
• It has been a common practice for companies to sponsor an event to get a speaker slot. You can use the same model of monetization in virtual events as well.

From the above discussion, it is clear that with the right strategy, you can easily embed sponsor space within the event. The best part is that all this can be done without compromising with the event experience. All you need is the right strategy at the right platform. If you’re looking for such an event-specific virtual platform, you can contact our event experts.