01 Feb 6 Best Ways To Generate Revenue From Live Events
Many people are either thinking about or taking the plunge into offering live events. And maybe you’ve been thinking how much fun it would be to stand on stage, sharing your great content and connecting with many potential clients all at once.
While live events are a ton of fun and definitely exciting, they’re also work. Which means if you’re thinking about offering a live event, you want to be sure you’re set up for success.
My own journey of hosting live events started in the first year of my business, when I offered a two hour workshop. Twenty three people attended (plus my best-friend), paying just £20 each. I remember being so excited and I was delighted that everyone enjoyed themselves, but I only just covered my costs!
Now, my workshops and conferences are attended by hundreds of participants and are an important strategy for getting my message out in a big way and for attracting new clients into my coaching programs. Even more exciting is to see the success my clients are achieving hosting their own live events.
Which is why I want to share with you some of the behind-the-scenes info on what it takes to make your live event profitable. These tips will help you see what’s possible when hosting a live event, whether you’re new to giving workshops or you’ve been leading events for the past few years.
Event Profit Strategy #1: Selling Tickets
Many people do a “head count” at an event, multiply that number by the ticket price and think, “Wow!” The truth is, while selling tickets isn’t likely to be the main way you generate income from your event, you can definitely use ticket sales to offset some of your expenses.
Event Profit Strategy #2: Offering paid sponsorships
Other businesses will likely love getting in front of your audience, and sponsorships are surprisingly easy to sell. I recommend starting with just 1-3 sponsors. Remember, what they’re investing in is exposure to their ideal client base so include visibility on your website, in your event workbook, being mentioned from stage and more.
Event Profit Strategy #3: Creating a premium ticket option
For a little more, your event participants can get the deluxe ticket package. This is your opportunity to perhaps include an extra content day, bonus private coaching, lunches or an exclusive master mind with you, all for the additional premium fee.
Event Profit Strategy #4: Making your home study courses available
Event participants love to “bring you home with them”. So why not package up your past teleseminars or other recorded content into a special home study bundle? All you need to do is create a special order form and mock-ups of the products you’re offering and you’re all set.
Event Profit Strategy #5: Offering a high-end program
Hands down, live events are the best way to fill your high-end private or group program. Once you learn a few secrets as to how to make this strategy work effectively, it’s surprisingly easy to bring in a rush of new clients and cash flow.
Event Profit Strategy #6: Following up with additional ways to get your help
After your event is the perfect time to follow up with participants and offer additional ways of getting your expertise. One of my clients generated a healthy 5-figures after her event, simply by following up with a special VIP Day offer. Even offering a small, local event affords you the opportunity to implement the strategies I’ve shared. Have fun with it!