How to make big money with virtual events in 2020


It has never been harder to be a professional earning money from live events. Whether you’re a speaker, event planner, or someone hosting large-scale events, current circumstances and social distancing protocols have made your job incredibly difficult, but not impossible.

This “new normal” has also presented unique opportunities for live event professionals in the form of virtual events. With a little creativity, a little technology and a few tricks, you can go from live to virtual events and earn as much as before, if not more.

Here’s how to pivot your profits in the age of virtual events:

Virtual Events for Speakers

If you’re a speaker who makes money traveling the country or even the world for events, the good news is that not much has changed other than time spent walking through the airport, driving cars renting and sleeping in hotel rooms. You can do the same speaking engagements from home as long as you have a good webcam, microphone, and professional background.

That doesn’t mean there aren’t challenges. Obviously, there are no in-person meetings at the moment, so you’ll have to work really hard on marketing yourself in order to get gigs. If the gigs aren’t coming as fast as they used to, now’s the perfect time to take the leap and start organizing your own events. Finding an audience through marketing and promoting yourself can take time, but you might be surprised at how many people will pay you directly to hear from you.

Virtual Events for Event Planners

For meeting and event planners, to make money from virtual events, you have to get creative. Events and meetings still need to happen all the time, and convincing decision-makers that you’re the person hosting them is key, especially when it’s relatively easy and inexpensive for them to do it themselves.

To do this, you must include value-added propositions to your virtual events. Adding things like virtual team building events, professional development classes, or one-on-one coaching sessions will help you sell packages that go beyond your standard meeting. The most important thing, besides adding value, is to make sure that your technology element is up to date. Many people are willing to pay for a seamless, seamless technology experience that they don’t have to manage themselves. If you can nail that, that’s half the battle.

Virtual Events for Large Event Organizers

Making money from a large-scale virtual event involves some of the same elements as making money from a normal event, but with added features and benefits. The #1 key to any great event is to provide something that a lot of people want. It could be guest speakers, networking opportunities, or top entertainment talent. Either way, if you can provide that, people will pay.

The new solution to help monetize your virtual events to the same level as a live event includes things like selling multiple sponsorships, creating a seamless e-commerce experience to sell merchandise, or providing experiences virtual VIPs or bonuses for which people will pay a premium. By adding these virtual features to your in-demand offering, a large virtual event can be just as lucrative as a live event.

Conclusion

Don’t panic. Instead, pivot. It might not seem as easy as it used to be to make money from events in 2020, but with a little fuss and creativity, it doesn’t have to be. Talents and event planners who embrace this new virtual world will have the preferred route to monetize this burgeoning industry to a large extent, as this will become the way more and more events will take place in the future.

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