I have the privilege of speaking at a lot of live events, and it always distresses me how often I see the host stepping over thousands of dollars because they haven’t built in really simple ways to monetize those events. And let’s face it, the host making money means participants are investing. And when participants invest in themselves, they are standing up and saying, “I’m ready to take my game to the next level!” And that’s what I live to see!
I’m not happy unless you’re making your contribution in the world AND being paid well for it.
So to help you strategize and enjoy a rich return on your investment, even if it’s your very first event, here are five of my favorite ways to monetize your events, big or small.
5 Ways to Increase Profits at Your Events
1. Make money on the front-end by charging for your event tickets rather than giving them away for free.
You may have heard that promoters are having a hard time getting people to come to events, but if you make the value of your event clear and promote it well to targeted lists, attendees will make the investment. The #1 reason you see people struggling to fill their rooms and eventually giving seats away free is because, somehow, the outcome or transformation that will happen for the participant as a result of attending that event is not crystal clear. So make sure that the event’s title says it all, such as…
Event Profit Secrets
How to create your own content-rich, highly profitable events and secure your ideal
clients and your income for the whole year in one weekend!
2. Sell your products in the back of the room at special rates with free shipping.
Who doesn’t love a bargain, We already know that people who attend your event are interested in learning what you have to teach. So give them an incentive to invest in your products while they are on-site with “Event Specials.” Be sure to highlight products, programs and services that are beyond the scope of what you are teaching at the event or that solve a next-level problem they may encounter. It truly is a service to do this.
3. Invite other speakers to contribute to the content of your event.
The standard split of those arrangements is 50% of the speaker’s sales going to you, so you definitely want someone who knows how to give amazing, relevant content, make an offer without being salesy and convert sales.
The most important thing is to make sure that any speaker you invite adds value to what you’re teaching. For instance, at my events, Michele DeKinder-Smith has presented her fascinating research about the five categories of female entrepreneurs — her five “Janes.” Let me tell you, my attendees were on the edge of their seats as they learned how that research could help their business, and many were thrilled when she offered them the chance to work with her more directly in the future.
4. Sell sponsorships so that people who want access to your audience can get exposure.
My events are full of surprises, some of which come from my wonderful sponsors. Not only do the sponsors get exposure and I receive revenue, but my audience gets valuable freebies, goodie bags and extra special surprises at events. Sponsors have given beautiful journals, useful product samples and helped fund the amazing Networking Galas that people talk about for months!
5. Offer a high-end mastermind, mentorship or coaching program.
You may already know that at my last live event, I sold out my mentorship program to the tune of 100 people! When those future Sassy Mastermind members first arrived, few of them had any idea they’d plop down tens of thousands of dollars to join a mentorship program.
But they saw me walk my talk for days, networked with the other mastermind members who are having breakthrough results and got in touch with that part of themselves that is ready for something much bigger. And nothing beats a live event for getting a real taste of what it would be like to be deeply supported over time in a coaching or mentorship program.
So, as you can see, your leaving money on the table at your live events directly equates to your leaving opportunities for transformation on the table. By including these ideas the outcome is you win, your speakers win, your sponsors win and most importantly, your clients win. Isn’t that why you’re doing all this in the first place,
Are you inspired to host your own profitable, live event, Let us know on our blog.