The purpose of an online event calendar is to create a centralized hub for community members to discover what’s going on in their local area and to generate revenue. So if you are struggling to make an existing calendar profitable and looking for ways to monetize your event business, we are here to help!
Some Hubs also hide the front-end posting button behind password/member protected walls and they charge an annual fee to have access to posting to their site.
Other sites allow front-end posting to be free, but charge to subscribe to a feed OR allow both front-end posting & feeds for free are only to current advertisers.
2. Increase your event business revenue with Advertising
By charging other businesses to include their event listings on your calendar is a great way to monetize your event business. As a result, you will open the door to new revenue opportunities and make your calendar more functional and captivating for readers.
Follow these steps for best practices:
Have a sign-up page showing exactly where the ads of potential clients will be seen.
Advertise that a spot is available. There should be a link on the ad to your advertising sign-up page.
Provide a media kit. Who is your audience? What is your traffic & growth? This is your opportunity to brag about your event business. If you’re just starting, sell your vision and growth numbers.
Include testimonials. Your happy customers are the best marketing, use the best testimonial to demonstrate your credibility. Potential advertisers love hearing that it’s working for others.
Give weekly or monthly stats. Advertisers need to know that their money is being well spent - their marketing budget is constantly being competed for. Send out a regular update demonstrating that you’re the front runner and will drive their business forward.
Provide a discounted renewal option. Reduce your churn. It is more cost effective for a customer to renew than to acquire a new one. Existing customers like to feel they’re being treated better than the average bear.
3. Monetize your event website with Google AdSense
Use Google AdSense if you have open spots you can’t fill. AdSense is a free, simple way to monetize your event business by placing ads on your website.
Note: It is recommend going this route as a last resort – revenue is generally slim, ads aren’t always local, and you aren’t building any relationships with your advertisers/sponsors.
4. Use landing pages for services to monetize your event business
Business directories can rock – if you do them well.
Keep them standardized.
Keep a clean look.
Keep people on your site, retain the value. Only provide URL links if the business has paid you for that privilege.
Have an easy sign-up & edit system for businesses to create their pages and make changes as needed.
Embed the business’ upcoming events in their landing page as an automated way to keep their page fresh.
Have a general listing page (some Hubs do this for free to entice businesses to pay for a linking, individualized page).
5. Promotional Services
Slightly more laborious than other strategies to monetize your event business. Here’s a few ways you can promote a business or their events. You can also combine these ideas with EventPromote (check number 1 above).
Sell featured spots to advertisers and include those events in the featured spots on your event calendar. Embed the featured events either above your main calendar, on your homepage, or anywhere else you choose. Click here to learn more.
Note: putting the featured events widget on your homepage and your full calendar on another drives more value for featured events.
Learn how to integrate your calendar with MailChimp here
Automate this process by using the MailChimp integration. Every Sunday, it will distribute what’s happening that week to your email list. Check out the Localist for more information.
Another easy way to monetize your event business is to sell sponsorship to businesses in exchange for spots on your newsletters. Get weekly/monthly newsletter sponsors. For example: "What’s happening this week brought to you by ...."
Only include links to your full calendar of events that are paying you. For example: Here are the Top 10 things happening this week.
Social Media Promotion
Use your influence and other means to promote a business for a fee. Social media tools are a great way to promote events.
Plan a strategy to engage with their audience and follow these great ideas here to provide effective promotional services for your clients. You can find some effective tips on Hootsuite as well.
6. Monetize your event business with shares on ticketing commission/fees
Set up an affiliate program so your organization earns some money for all referral ticket sales. Earn a share of commission/fees from tickets or registration bought for events listed on your website.
Monetize your Event Business with Timely Event Management Software Solutions
Monetizing your events calendar is easy with these 6 tips!
We hope these options help you explore your choices for revenue streams. Strategize a plan and creatively use these ideas to generate more revenue to your event business and attract new clients.
If you want to know more Timely company and product update news, please visit our Event Management Blog. There is always something new happening at Timely, so we do our best to keep our clients on the loop!
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