10 ways to make your events a monetisation monster
It’s no secret that corporate events like tradeshows can be expensive – booth space, travel and marketing materials mean it’s common to fork out a lot on a single show.
But despite the high cost, exhibitions can be an important part of your marketing strategy—if you know how to generate revenue from them.
Download the Monetisation Blueprint for a complete guide to driving digital revenue around live events.
So how do you create a monetisation strategy that works for your shows? Here are 10 ways to make sure your event turns a profit and boosts your company’s bottom line. Read on! 👇
#1 Create value-based pricing and packages
Charge event participants based on the value they will receive. Do away with legacy discounting – it’s outdated and can make the show less attractive to exhibitors.
Create new rate cards that reflect the benefits clients will receive for their investments. Do thorough research of competitor rate cards to make sure you don’t price yourself out of the market.
#2 Develop compelling sales material
Create persuasive sales materials that compel and delight your customers. Weave a story through impactful branding and messaging to hook the viewers into the experience and services on offer.
Develop enticing packages that cover key aspects of branding, thought leadership and lead generation. Take the help of your tech vendor to create attractive sales packages.
#3 Get your sales team up-to-speed
Trade shows can be overwhelming and chaotic. Ensure you have a properly trained sales team to maximise the revenue opportunities offered.
They should be up-to-speed with the offerings they are selling and be well aware of the buyer persona before making a pitch. Also consider training your sales team around consultative selling – this is helpful when any new channels are being introduced to clients.
#4 Establish KPIs
Set clear goals for the sales and marketing teams. Establish KPIs on an annual, quarterly, monthly and weekly basis.
Put equal focus on digital revenue streams and incentivise these targets to insure yourself against any possible disruptions in physical sales.
For example, if 20-25% of revenue is expected to come from digital, then consider it to represent nearly half the total sales target.
#5 Identify upsell opportunities
Identify upsell opportunities where you can upgrade customers into a higher package. Understand your audience profile and their needs and wants.
Consider what add-ons and extras would enhance their event experience. This can be done right from the first sign-up to the attendees becoming active on the dashboard.
Test out your upsells before the event to gauge interest and ensure they’re feasible
#6 Create an e-commerce payment channel
Ecommerce is an easy and convenient channel to boost event sales. Set up a customer journey where new and potential customers can directly explore and purchase packages through e-commerce.
#7 Conduct exhibitor webinars
Exhibitor training is crucial to make your events more valuable. Organise educational webinars with your event tech provider to onboard exhibitors to the platform.
Drive home the value of a fully complete exhibitor showroom and showcase the different features, products, videos and downloads to motivate them to provide unparalleled quality of service.
#8 Create How To guides
Creating how-to guides is a great way to educate exhibitors on best practices for setting up and running a successful tradeshow booth.
By outlining key steps and providing detailed instructions, you can help exhibitors avoid common pitfalls and ensure that their experience is positive and productive.
#9 Launch an omnichannel marketing campaign
Devise an omnichannel marketing campaign using both digital and traditional forms to reach out to your audience.
A smart mix of channels – email, PPC, social media and even billboards and brochures can generate the excitement and attention your event needs.
#10 Use data for rebookings
Data generated by digital platforms is 20x more than traditional modes of organising events. Adopt a data-driven approach to create a report of all the prospects that have been reached out or expressed some intent once the event concludes.
Gather all the data points – including online and in-person leads to get an overall picture of the campaign. This will help assess the true value of your efforts and help in rebooking for future shows!
Want to know more about creating a comprehensive monetisation strategy for your events and communities? Download the Monetisation Blueprint now!
We hope you enjoyed reading this article and found it useful. At ExpoPlatform, we want to help you build better events and communities. Please get in touch and ask for a demo here. Thank you.
There's more you might like
Today’s marketers are used to using Linkedin, Google and Facebook – platforms which all show real-time statistics. This means the event industry must be equally as transparent about how budgets are being spent, providing customers with useful statistics about who is engaging with their profile and content. In this guide we show you how you ...
The “disruptors” of event marketing will lead the way by placing metrics and audience needs at the heart of their business model, according to a B2B sales expert. Raoul Monks, chief executive officer of Flume Sales Training, highlighted how organisers are now competing with the likes of Google and Facebook when it comes to promoting ...