What are the best practices for registration pricing for a virtual event? What components of a virtual event can be sponsored?360 Live Media hosted a webinar to help association event planners navigate these questions and price your conference and trade show in a way that reflects your event's purpose, promise, and potential. Watch Pricing and Sponsorship for Virtual Events, the Event Innovators Exchange (EIX) recording from April 22, 2020 to hear recommendations from 360 Live Media.
Thank you, panelists:
Beth Surmont, Director of Experience Design, 360 Live Media
Five Ways to Shift Sponsor Revenue to Virtual Opportunities
The need for your event sponsors and exhibitors to tell their story to the right audience is now more important than ever. 360 Live Media's parent company, SmithBucklin, has compiled a selection of the top five opportunities to shift your event sponsor and exhibit revenue to virtual opportunities, and preserve revenue while keeping your members and partners engaged.
To help association event teams start the conversation about pricing a virtual event, 360 Live Media has put together a list of the top 10 thought-starters that you can use to focus your attention and determine the appropriate sponsorship packages and ticket price.
Virtual Meeting Tips/ Lessons Learned
Here is what we learned during this Zoom meeting that you can apply to your virtual events:
Turkeys make good virtual guests and add to the event experience. But supporting local companies on a mission is an even greater reward. Check out Sweet Farms when you have a minute.
Interviewing a sponsor in an educational setting provides a lot of exposure to the sponsor and a lot of value for your event attendees. This is a win-win-win for your stakeholders and your association.
Like in-person events, virtual meetings have unpredictable moments. But, when you mix in fun and learning, the rewarding experience outshines any awkwardness or technical mishaps.
Don’t be too quick to offer a full refund to a sponsor if you’ve cancelled your event. If they won’t accept a credit towards the next event, then consider offering a refund that reflects reasonable costs and any benefits the sponsor has already received, such as advertising.
There is no single best practice for pricing an virtual event. It’s important to consider your budget needs and the situation of your audience when setting a price. And this is the time to experiment with different options and levels.
Your online event has value. Price it accordingly.
We really appreciate you experimenting along with us, it is fun to try out new features each week while providing helpful content.
How do you launch a virtual event?
We love to help the association community. Contact us for a 1-hour free virtual event consultation.