How can event agencies benefit from virtual events? Or make revenue from them?
There is an inherent perception that virtual events should cost less than real world counterparts. There are existing platforms where you can order tickets to live events and this could be pushed through for virtual. You would need well-secured individual passwords, so can be locked down, with attendees only using one email to enter. Although this isn’t infallible, there is a possibility that will pass around name badges at live event anyway. The trick is to hook into previous systems and ways of paying. Variables on price is all about levels of complexity, how much content and production to pull together, and how many viewers and participants are there – to calculate how the costs go up and down. Creating revenue from these events will be the new norm. It will be similar to working with a production company – looking and engaging with different platforms, charging clients commission. Another model would be shared risk etc. With video streaming, core costs would need to be covered, and if you’re hosting you’re paying for the video to be streamed and watched. A big advantage of social media is you don’t always have to pay for your audience to view.