As the digital landscape progresses swiftly, it opens up an expanding array of monetization opportunities. Event apps, in particular, emerge as a notable medium for significant revenue generation. This comprehensive guide intends to provide an overview of the most promising strategies for event app monetization in the year 2023.
1. Splash Screen and Banner Ad Sponsorships
When attendees first open your event app, they’re greeted with a splash screen. This is the initial image they see, presenting an ideal opportunity to feature a sponsor’s name or logo.
Given its prime positioning, it warrants a top-tier spot in your sponsorship levels.
Beyond the splash screen, there are numerous spaces within the app ripe for banner ads. Whether on the event’s schedule, the networking section, or various informational pages, these banners act as subtle reminders from sponsors in areas of the app where attendees frequently visit.
However, it’s vital to strike a balance. Oversized or overly flashy ads are a definite no-no.
Your partner’s promotional material should complement, not clash with, the overall app design or overshadow your event’s branding.
2. In-app Premium Content
Do you have access to exclusive content?
A specialized guide, cheatsheet, or instructional videos. Perhaps you’ve captured some behind-the-scenes moments or can provide a live virtual backstage tour?
Such unique offerings can be integrated into your app, letting attendees pay a bit more for an added layer of exclusivity.
The key to successful premium content : Its value should clearly outweigh its cost. It’s not just about charging more, but making sure that the attendee feels the tangible benefits of their investment.
Always be in the shoes of your attendees: Would you be willing to pay extra for what you’re offering?
If the answer is yes, you’re on the right track. If not, it might be time for a rethink. Whatever you decide, make sure it genuinely enhances the attendee’s overall experience.
3. Virtual Exhibitors Booths within the Event app
In our evolving hybrid tech landscape, events have outgrown the constraints of their physical venues and specific dates.
Virtual exhibitor booths stand as evidence of this transformation, offering immense advantages to both on-site exhibitors and, importantly, to those who can’t attend in person.
While physical venues are bound by space constraints, going digital offers endless opportunities – you can offer booth space to brands that might not be able to attend the event in person.
These virtual booths have a 24/7 presence. This ensures that participants from various time zones can engage, interact, and delve into what’s on offer at their convenience.
On top of this, virtual booths are champions of event sustainability. By eliminating the need for travel and extensive physical setups, they greatly reduce the associated carbon footprint. This approach is not only eco-friendly but also cost-effective!
4. Exclusive Virtual workshops
When people come to a conference, they’re there to learn. Sure, keynote speeches and panel discussions are great, but there’s a different kind of learning that workshops offer.
But often the challenge you face is how to fit it in to the schedule or where’s the space. The solution : your conference app.
You can set up these virtual workshops before or even after the actual event in the conference app. These focused sessions are perfect for those who want to dive deeper into a topic. Workshops stand out because they tackle specific topics, unlike the usual sessions which cater to everyone.
And don’t stop when the event ends. Why not record these workshops and let people buy and watch them later?
This way, if someone missed a workshop or just wants to go over it again, they can – and you earn a bit more from it. I would also recommend offering the workshops as a bundle too for a discounted fee. This not only encourages attendees to explore more sessions but also increases the total revenue from each participant.
In short, adding these paid workshops to your conference app does two things: it gives attendees more ways to learn, and it gives you a steady stream of income year-long.
5. AMA with Keynote Speakers and experts
Regardless of the event – be it a conference, townhall, exhibitor showcase, or sales conference – there’s always a special excitement in interacting directly with experts. This is where “Ask Me Anything” or AMA sessions shine. They offer attendees the opportunity to quench their curiosities, delve deeper into topics, and even get personalized advice.
But why limit AMAs to physical venues when they can be effortlessly hosted on the go?
Using the event app, you can set up exclusive AMA sessions with these speakers and experts. It’s simple. Whether it’s right after their presentation or at a pre-decided slot, experts can go live on the mobile event app. Attendees, from wherever they are, can submit questions in real-time. The speaker, in turn, can handpick and address these inquiries.
Now, here’s the kicker: you’d be amazed at how many attendees are ready to shell out for such an opportunity! The exclusivity of the interaction, combined with the limited availability, makes this premium experience highly coveted.
Not only does this give attendees a unique opportunity to interact, but it also adds a more personal touch to the whole event experience. For the speaker, it’s a chance to connect with the audience on a deeper level, understanding their concerns and curiosities.
6. Affiliate Marketing for Event Apps
It’s a wonder that affiliate marketing isn’t more commonly incorporated into event apps, given its proven efficacy in the world of e-commerce. Affiliate marketing is straightforward: you promote a product or service, and in return, you earn a commission for every sale that originates from your recommendation.
Imagine the added value to your event attendees if they could, through your app, access services that complement their event experience—like cab services, hotel bookings, or even reservations at local dining spots. But to dive into this realm effectively, it’s vital to first understand specific needs of your attendees beyond the event itself.
Take, for instance, the fact that many attendees are probably traveling from different cities or even countries to attend a convention. This means they’re on the lookout for places to stay. By forging partnerships with travel agencies, hotel chains, and local lodgings, you can offer special rates or deals to your attendees within the convention app.
Additionally, transport within the city is always a concern. Seamless integration of cab or ride-sharing services within your event app can be a game-changer here. Attendees can effortlessly hail a ride to the venue, their hotel, the airport, or even to explore the locale.
The beauty of embedding affiliate marketing into your event app is its simplicity. You don’t need to be an expert to start; it’s more about choosing the right partners. However, it’s crucial to maintain a balance. Prioritize your attendees’ needs and preferences, and only promote services and products that align with their interests and your event’s ethos.
7. Run Sponsored In-App Contests
Everywhere you look, from cafes to metro stations, everyone is glued to their screens, often engrossed in some game. Hard data supports this trend, with gaming apps making up a substantial 13.72% of offerings in the app store.
Now, imagine harnessing that kind of engagement for your event app.
Think about it. You’re at an event, and there’s a buzz going around about a fun contest running in the app. Word has it that people have already bagged some cool prizes, with even bigger rewards up for grabs soon. That’s bound to create interest, right?
But here’s where it gets interesting for you as an organizer. While attendees compete for prizes, you can strategically monetize your contests. Partner with local businesses or sponsors who can offer enticing prizes like an elegant dinner, sought-after show tickets, or discounts on car accessories.
And don’t overlook the ripple effect of such contests. With attendees frequently engaging in games, they’re invariably exposed to other features of your app – like the banner ads or special deals you’ve seamlessly woven into the interface.
In conclusion, monetizing your event app in 2023 might seem daunting, but with these strategies, you are well on your way to maximizing your app’s potential. Remember, monetization is a continuous process that requires constant testing, analysis, and optimization.