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How to make money out of events ?

In the last few days, I had the opportunity to attend different kind of events: 1st crowd funding conference in India, BNI NETWORK meet, Dr Design launch by Hysea, HDCF’s panel discussion on 2015 Budget, and Rodinhood Open House. The last one in Mumbai, and all others in Hyderabad itself.

Suddenly it struck me that a lot of events are being underutilized of its opportunities, they themselves are creating.

We here briefly look at some of the avenues that are best leveraged:

Self promotion by organizers :

 

Undeniably, the organizers must use each event to grow bigger, from strength to strength. Leveraging current membership to increasing new members.

For that, they must cite a few advantages that non-members missing, and how the forum/organization is going to be more relevant time & again!

 

 

 

 

To give good mileage to all sponsors :

Getting sponsorship for any event is difficult, unless the would be sponsorer sees reasonable value in return. No one wants to give away anything for free without any expectation in return.
The key is to make a good proposition they can’t help but take.

Also if the past sponsorers are not coming back to do again, that’s dangerous. That means they have not got what they expected previously. And hence they don’t see any meaning to help you further, in the upcoming events.

If you get a few repeat sponsorers, your job becomes a lot easier in conducting future events. Ideally sponsorers to compete, to contribute their best!

Though difficult, the event organizers must be able to define the RoI for them, and in metrics that interest them, even if they dont ask explicitly.

Souvenirs/ Swag :

 

souvenir

This makes attendees remember the event & the organizers for sometime, as long as it offers some value / service.

Also this presents a lot of branding / marketing opportunities, the organizers can sell to sponsorers & other vendors.

And often this may not cost much, and it’s more of a project management.

Feedback forms

 

feedback

Along with souvenirs, if feedback forms are given, you have best chance of getting some very useful info….from participants.

Membership forms

memship post

If your goal is increase membership, apart from making the event successful, adding membership form helps.
Also it gives enough info to people who like to join later. That’s indirectly preparing them to be member.

Message from Stage

 

In any event stage or dais is the most important place, and centerpiece of attention for all. The program schedule must be planned in such a way that, there’s slot intended for supporting the organizations goal, and the communication to be perfectly crafted marketing pitch, and it should be brief.

This must be
Not too obsessive, but a must : a subdued, but uncompromising, well planned communication

Other monetizing / money making opportunities:

Like in-film advertising, in-event partnerships to be considered.
A lot depends on quality & quantity of crowd you are able to pull for the event, and how you negotiate with vendors etc.

Some Donts:
photos of core members, or special privileges to them – it makes all others outsiders or feel abandoned etc while Group photos of whole attendance might be good ideA.
Also honoring one two people of the organization helps indirectly sell the organization to new as well as to the existing members.

Ideally there is a lot more you can do, by letting your creative juices flow.

Hope this article makes you think hard before planning for your next event, and would be delighted to know any feedback. Thanks for your time.