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In pre-COVID days, companies used in-person events as an effective way to build brand awareness and sell to a qualified audience. Event booths would be staffed with the best sales people on the team and they'd offer in-show exclusives and promos to sell as much as possible during the event.
Now that everyone has shifted to hosting their events online, many are looking for ways to monetize their webinar or virtual event experience to generate revenue and keep a healthy sales pipeline.
So how do you monetize a webinar? Let me share a few easy ways to help you make money from your webinar and increase the ROI of your event.
When selecting a monetization method for your webinar you need to consider the quality and exclusivity of your content, the authority of your presenters, and also your audience expectations.
There are three main ways that companies can monetize their upcoming webinars.
If you choose to monetize your event by using sponsorship or pay to present options, you need to run your numbers to be able to justify your price. Price should be determined based on level of service provided by your team to the sponsors/presenters and also the advertising value provided.
Very few sponsors will be happy with impressions as the main KPI so you need to look for creative solutions to help them achieve their goals during your event.
Sponsored polling questions are a great way to add value and insight for your sponsors. By including sponsored polling questions you're able to capture data from attendees that your sponsors otherwise could not obtain. You can also let your sponsors add a re-targeting pixel on your thank you for registering page to get some pre-event branding out there. These types of value-adds help provide a safety net for you if you don't reach your targeted attendance rates or have low engagement.
In general, when working with sponsors it is always best to set realistic expectations and to over deliver during the promotion period by throwing in a few freebies. This helps sponsors feel like they made a good investment, while also preventing problems for future-you.
If you opt to monetize by charging attendees a fee for your webinar there has to be significant value offered to attends to justify the barrier to entry. It is always a good idea to do some preliminary research and ask people how much they'd be willing to pay for a webinar on your topic ahead of time so that your pricing is aligned with their expectations.
Webinars can be an excellent revenue stream for companies, especially during COVID-19. However, if you want to make money from your webinars, you must produce exceptional content and have a flawless technical execution. If you can tick off those two boxes then you should have no problems making money from your webinars.