Best strategies to Generate revenue at events

Posted on Posted in event management, Events, Marketing

Every event has its purpose and meets the goal of your client. So, once you have filled the seats of the event, it means you have paid for all arrangements from lights to catering, from support staffs to security guards. Have you ever as an event manager think about your goal achievement and ROI (a little extra cash) at the end of an event? It is equally important to run a successful show and at the same time generate a revenue to benefit you. Here’s what you can follow to make a profit:

Organize: Meet & Greet Exclusively

Make an offer something before the actual event. If it’s a conference or seminar, you can hold a special 20-30 mins pre-event interaction of audience with the guest speakers or presenters. Include a special bonanza while buying tickets to the event, say for a $20 ticket add $5 extra to avail the offer.

Sell: Event Merchandise

For trade shows, music shows or corporate events, the performers or the company comes up with their own merchandise. In such a case, you can customize them according to the event. You have to just get permission from the performers or company and you will be required to split the profit, which is absolutely okay when you get an extra revenue.

Invest in: Added services

If the event is going to be a recurring one, then come with a plan to offer service to the attendees this could be anything for instance event planning for their wedding, Children birthday parties, family parties. With some special discount offers, you can generate multiple small yet a revenue which will be worthy.

Offer: Free trials or limited discounts

If it is the first year and launching a new product and want to introduce this at an ongoing event, just offer free trials on a purchase and give limited discount shopping coupons to first 10 registered users. This will trigger interest and many will try to purchase. You can tie up with the local shop merchant for discount coupons.

Employ: Volunteers as Staff

This is a best idea wherein you can cut down the price and save from the actual budget. Call for volunteers through educational institutions who offer hospitality and management courses. As the institutions would like their students to get exposed to practice in the real time working environment and students would like to work to gain experience. You can be safe that all volunteer would turn-up on the event day as the schools would ensure it.

Get: Sponsorship

Getting a sponsorship for event would always generate an ROI.

Allow: Networking Time

It is always recommended that you give breathing time for guests to interact and have a conversation. Include small breaks after each session, this networking time is a definite contributor to your ROI. You can find time to meet and speak to customers and get a business in the pipeline.

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