Conferences and events are an important financial driver for many organizations. But, understanding how to drive revenue with a Virtual Event when you’re used to offering in-person events can be a challenge. That’s why we invited Dr. Michael Tatonetti, CAE, CPP, the Founder of Pricing for Associations, to share his expertise with us.
He shared best practices around Revenue and Pricing Strategies for Virtual Events as part of our Conversation Series, a live webinar series where we gather insights from industry experts and thought leaders. You can get free access to watch the full replay of our conversation with Dr. Michael Tatonetti on-demand here.
Here are a few actionable insights from the conversation:
When COVID-19 began and many organizations quickly pivoted to virtual events, many organizations took a defensive approach and offered free registration. But, when done right, virtual events offer significant value to attendees, and you should charge for that value. Of course, professionals in many industries have been severely impacted by COVID-19, so it’s important to know your audience and understand what they can and are willing to pay:
It can be confusing for your audience to understand why they should pay full price to attend your Virtual Conference when they have attended free virtual events you’ve offered in the past. Listen to Dr. Michael Tatonetti explain how to strategically name your virtual event offerings to differentiate between them and demonstrate the value of each:
Replicating the sponsor experience of face-to-face interaction with in-person event attendees is a challenge. But by collecting authentic, evergreen video content from your sponsors, you can create a personalized feel that helps your sponsors connect with your virtual event attendees before, during, and after the event. Listen to Dr. Michael Tatonetti: