Four Ways to Boost Event Revenue

For events that charge an admission fee, increasing event revenue per attendee is not always easy. Here are some of the ways organizers can attract more attendees and drive revenue for events that charge admission:

  1. Bring the keynote speaker in for a private VIP meeting. Attendees always look forward to hearing the keynote speaker address the crowd at a convention. But especially when you have a high-profile celebrity keynote appearing, you can create exclusivity by making the speaker available for a private meet and greet or workshop. Interactive agency Razorfish has done so with celebrities such as Ashton Kutcher. Creating exclusivity is a well-tested formula for creating demand.
  1. Upsell VIP packages. Just as offering an exclusive meet-and-greet with a guest speaker creates demand, so do VIP packages. Offer attendees perks such as special seating (especially if your event involves a natural form of entertainment such as music), meal tickets or snacks, hotel suite accommodations, or invitations to limited availability conference sessions. The fee for a VIP package should be slightly higher than regular registration, and the bonuses you offer should include items attendees will truly value.
  1. Partner up with a hotel for discounts on accommodations. Conventions can be expensive, especially for attendees traveling from a distance. Increase your event revenue by helping them out with the cost of accommodations. Most hotels will offer a discount for larger groups that confirm reservations within a certain time frame. In addition, if your event is taking place at the same hotel, you’re likely to get an even deeper discount on top of the booking for your conference.
  1. Have a name-brand entertainer perform. High-profile events such as Dreamforce offer rock-star entertainment — literally. The 2015 Dreamforce featured performances by the likes of Foo Fighters and the Killers. Entertainment creates a wow factor — and something for attendees to share on their social networks.

No matter how big or small your event may be, your success depends on maximizing revenue. These are a few ways that work for the biggest conferences in the world, but we’d love to hear your thoughts. What hints can you offer on increasing event revenue per attendee? Let us know what you think.

For a complimentary 30-minute consultation on how to build your brand and inspire an audience through events and communications, please contact Brian Duffy by calling 630.427.4235 or by emailing bduffy@onesmoothstone.com

Photo credit: Got Credit

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