Every good event planner is constantly thinking about how they can increase their event revenue. And here you are, reading our guide on how to improve your event revenue beyond ticket sales.
So you’re a hungry and motivated individual. Good. We’re glad you’re here. Today we’re unloading our top tips for making more money from your corporate events.
Here’s the thing, event revenue is almost always the subtext of any corporate event. Sometimes it’s not, sure. But even when it’s not, money is always a fundamental theme, from planning to execution and analysis. So, in short, this is essential reading for all of you.
These concise and actionable pieces of advice aren’t designed to replace your marketing and ticket sales drive. They’re designed to be welcomed and substantial supplements. So get reading, pick and choose the ones you most like – hey, why not all of them? – and make your event revenue fly through the roof!
Sponsorship is your bread and butter to use an old fashioned phrase: it’s the dependable base on which event revenue is built.
Sponsorship is perhaps more crucial than ticket sales. All events, everywhere, survive on sponsorship, from community galas to the biggest festivals in the world.
We could write whole ebooks on the nuances of gaining more sponsorships, but we’ve got lots to tell you today, so get ready for the crash course on increasing your event revenue through sponsorship:
- First, understand your audience (it helps you choose your sponsor and then sell to them.
- Offer tiered sponsorship packages
- Diversify opportunities to include things like:
- Sponsored content
- Sponsored Gamification
- Branded swag
So you get the picture, sponsorship is crucial to event revenue. But how do you get it? Well, we can help you there. Just read this handy guide on how to write an event sponsorship proposal. It’s a clear and concise walkthrough that will yield results!
Getting a grant for your event is more complicated than getting sponsorship, but it’s definitely worth looking into. Largely speaking, there are two kinds of grants: charitable and business grants.
If your event or organisation serves some kind of charitable end, you could earn a grant from various trusts, NGOs, or government initiatives. So say if you’re promoting sustainability, challenging poverty, or promoting equality in the workplace, apply for a grant.
Likewise, if you’re a hungry startup or a tech company in a city that wants to become a tech centre, get in touch with the local business bureau and ask the question!
As we said, grants are harder to come by, and the applications can be time-consuming. But if you don’t ask, you don’t get. But if you’re serious about increasing your event revenue beyond ticket sales, you need to pursue every avenue!
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Crowdfunding can be a powerful thing. It can change lives, make events and art possible, and be community defining.
Just recently, the fantasy literature and publishing industry was shaken to its core due to a crowdfunding episode. Brandon Sanders – best known for the Cosmere fictional universe – crowdfunded $15.4 million in just 24 hours for his new books!
So instead of looking to shift ticket sales, perhaps – after a strong and sincere marketing campaign – you can increase your attendees by asking them to be crowdfunded as opposed to the more hollow resort of ticket sales?
To see this in action at corporate events, check out a company like Gitcoin, which invite people to raise money for crypto and blockchain events.
Merch is a great thing. Merchandise is a win-win situation for everyone. It keeps up and coming bands’ heads’ above water. It creates huge revenue for independent artists and creators, and, crucially, people actually want the opportunity to buy branded gear of things they love!
And as well as increasing your revenue, it’s outstanding marketing; long after your event, you’ll have people proudly displaying your branding. As for what kind of stuff you sell, you can always rely on old classics like t-shirts, caps, and tote bags.
But why not try mixing it up? How creative can you get with your merchandising? The coolest stuff we’ve seen recently have been branded snacks, Bluetooth speakers, wireless earbuds, recycled stationery, and plant pots!
And P.S. it goes without saying, but if you have any unique ideas of your own we’d love to hear from you!
5. Event Budgeting
You can drive your event revenue by being strict with your event budget. This tip might seem like we’re stating the obvious, but event budgets can get out of control if you don’t supervise them properly, and after the event has been and gone, it can have a severe knock-on effect on your event revenue.
Staffing is just one example. It’s a considerable expense. If you can leverage volunteers, you’ll make drastic reductions in your event budget and massively increase your event revenue.
Building an event budget can be a daunting task. But it doesn’t have to be. If you read our guide on how to plan an event budget, it will all become a lot clearer and certainly more manageable!
Event Revenue Infographic via Source1events
6. Tiered Access and Premium Content
An excellent way to increase your event revenue beyond ticket sales is with premium content and tiered access to cool stuff. It could be anything from meeting and greet with special guests, access to premium content, exclusive workshops with experts, exclusive exhibitions, VIP areas, and more.
For example, having an influential figure from your field will drive interest and ticket sales for your event. You can leverage their name for your marketing campaign, attract sponsorship deals from brands who want to be attached to their image, and collaborate with said influencers to make some seriously good premium content.
So make sure you learn how to use influencer marketing to promote your events. The effect on your event revenue could be staggering!
7. Streaming Rights
Similar to obtaining grants, streaming rights aren’t as easy as our other top tips. If your event is big enough – in stature or the number of attendees – you can charge people to live stream from your event. This goes as high up as TV channels to vloggers.
And a word to the wise, streaming your event is a fabulous idea because you can use it post-event to make more premium content to advertise your subsequent events or for on-demands expert content for your client base.
So there you have it, 7 top ideas for driving your event revenues beyond ticket sales. We hope we’ve given you lots of inspiration! If you want to know more about event planning or our services, we’d love to hear from you!
If your next step is looking for a unique venue, then, funnily enough, you’re in the right place. Because our first love at Spacehuntr is sourcing the very best corporate event venues, so make sure to check out incredible locations!
And before you get on with the rest of your day, slow down. Don’t forget to read up on these 7 ways to monetise your hybrid event conference!