The performance metrics of a virtual event can vary ticket revenue, leads, contacts, or employee training. What you measure determines your ROI strategy and how can you increase the return on investment (ROI) of an online event.
Strategies For Increasing ROI Online
Strategies to increase efficiency depending on the goals of the organizers and the monitored indicators. So if you are planning to organize CIO summit or other international events, consider these seven main strategies:
Expand Your Online Audience
With an online and hybrid event, you are not limited by the size of the venue or geographical distance. Expand your marketing networks and target your target audience. The benefits are clear: more tickets sold, more leads, and more brand awareness.
Invest In Content
Content is a king – online content quality is even more important than offline. You should not save on the level of speakers and reports. And it’s not just about the satisfaction of the participants and trust in the brand of the event. Online event content is a powerful resource that can provide value for many months after the event and increase ROI.
Virtual sessions can be easily recorded and reused. If the goal of the organizers is income, recordings can be sold. Recordings of sessions uploaded to open areas can be good free advertising for future events. But that’s not the only thing you can do with a record. Here are some more ideas:
- Videos can be cut and posted to Instagram Stories
- Transcribe and make an article on a professional resource with a link to the event and the organizing company
- Make a summary of the main theses for a corporate blog
- Use quotes from famous speakers in lead magnets and presentations
With each repackaging of content, you increase the audience of potential customers and participants.
Invest In Engagement
The key to a successful event is audience engagement. Spare no effort in turning viewers into participants: use polls and contests, and engage the audience with questions during each session. Or provide creative networking opportunities. An engaged audience will view the event host in a positive light and convert more easily into leads for you or your partners.
Sale Of Different Types Of Tickets
If ROI means “more money” to you when creating online and virtual events, then the key to a better return on investment is simple: sell more tickets. Use a tiered system and offer different types of tickets for different levels of access. This will give people multiple options to choose from, and the needs and budget of each potential participant will be taken into account.
Using A Call To Action
By keeping the purpose of the event in focus, you can use CTAs to nudge your audience into specific actions. For example, if you want to generate leads, you can invite attendees to sign up for your company’s newsletter at the end of a particularly inspiring session. If this subscription brings them a benefit directly related to the session they just enjoyed, your audience will be much more inclined to accept your offer.
Sponsorship can be a very significant source of income. According to research, the average cost of a virtual event sponsorship package is $8,456. But the profitability of sponsorship opportunities can be increased. The question arises: how to convince sponsors to pay you thousands of dollars? The answer is to offer them something equally valuable.