How to Make Money by Hosting Events Online: 10 Best Practices

There’s no denying it: online events have become a big deal, especially during recent times. One huge plus of these events? No need to be there in person. This means anyone can join from their cozy living room couch, with no fancy outfits or travel required.

With nearly everyone glued to their phones and live streaming being all the rage, online events are the trend everyone’s talking about. 

WordPress, which is like a tool to build websites, makes it super easy to set up these online events. And the best part? You can invite people from all over the world. Whether you’re hosting purely online or a mix of both, there are loads of ways to make some money from it!

Ready to learn how? Let’s dive into some super helpful tips on how to make money by hosting events online!

About Online Event Monetization

Online event monetization is a set of strategies and methods used to generate revenue from virtual events. Unlike traditional in-person events where revenue might be derived mostly from ticket sales or physical product sales, online events have a broader range of monetization opportunities due to their digital nature.

Just as you’d invest time and money into organizing online events or physical events have their requirements. However, the nature of these investments often centers around technology and digital marketing. Such as-

• Technology: Event Management WordPress tools can streamline event management.
• Digital Marketing: Promote events to a broader audience through online ads or social media sharing.
• Content Creation: Investing in quality speakers, topics, or entertainment.
• Feedback Mechanisms: Tools to get real-time feedback for continuous improvement.

It’s not just about turning a profit; it’s about ensuring sustainability and building credibility in the industry. When your events are seen as valuable, they become a reliable source of income and elevate your brand’s reputation. So, online events monetization depends on

• Brand Reputation: Successful events enhance brand trust and loyalty.
• Stable Revenue: Recurring events, if profitable, can ensure a steady income.
• Loyal Audience Base: Satisfied attendees are more likely to return for future events.
• Networking Opportunities: Engage with global industry leaders and influencers.

In short, online event monetization is the process of utilizing a digital platform to generate money from numerous sources while making the most of the online audience’s presence and participation.

10 Best Practices to Make Money by Hosting Events Online

Online events have become a big deal. With just a computer and an internet connection, you can reach people from all over the world. But besides bringing people together, making money is another big advantage. 

Just like a physical event might sell tickets, an online event has its ways of earning too, sometimes even more efficiently. Here, we’re going to break down 10 strategies that can help you with how to make money hosting events online. Whether you’re new to the world of virtual events or an expert looking for more tips, this list will give you the insights you need.

1. Selling Tickets for Online Events

The foundation of any event, online or offline, often begins with ticket sales. In the virtual realm, where geographical barriers are erased, the potential for selling tickets becomes significantly vast. Whether it’s an expert-led webinar, a digital concert, or an online workshop, tickets serve as the gateway to these experiences.

Unlike physical venues, online events are not constrained by space. This means you can have attendees from all corners of the globe. Purchasing a ticket online and attending from the comfort of one’s home is a massive draw for many. This convenience can drive up sales significantly. Also, offering different ticket tiers allows you to cater to various audience preferences. 

For Effective Online Ticket Sales, what you can do is

• Give Early Bird Offers to those who commit ahead of time.
• Clearly communicate the value of your event. Let potential attendees know what they stand to gain.
• Providing a straightforward and trusted checkout process ensures that potential attendees don’t abandon their purchase midway.

When it comes to simplifying and optimizing the Registration and Ticket Sales process for online events, Eventin stands out. Integrated with WordPress, Eventin provides a seamless platform to manage and sell event tickets. 

From early bird promotions to showcasing your event’s highlights and ensuring a secure checkout process with WooCommerce and Stripe integrations, Eventin takes the hassle out of ticket management. It’s not just about selling tickets but enhancing the overall experience for both the organizer and the attendees.

Exclusive Live Events on Social Platforms

Social media isn’t just for sharing memes, photos, or updates anymore. It has evolved into a powerful platform for hosting live events. These events, when made exclusive or limited to a certain audience, can create a buzz and generate revenue.

Most people are already on platforms like Facebook daily. Hosting an event on these platforms reduces the friction for attendees since they’re already familiar with the platform’s layout and functionality. 

Social platforms come with built-in engagement tools like comments, likes, and shares, making it easier for attendees to interact in real time, enhancing their overall experience. When attendees engage with your event, their activity might show up on their friends’ feeds, giving your event organic promotion.

Creating an Exclusive Appeal:

• Limit the number of participants. The “fear of missing out” (FOMO) can drive quicker sign-ups.
• Announce special guest appearances or expert sessions that won’t be available outside of this live event.
• Offer attendees a sneak peek into something they wouldn’t usually see, making the event feel more exclusive.

So, to host successful live events on social platforms, you should-

• Use the social platform’s ad services or collaborate with influencers to promote your event.
• Encourage attendees to comment, ask questions, and share the event, driving more engagement and visibility.
• Even if the event is live, ensure there’s value for those who might want to revisit the content later or for those who missed out.

If you’re wondering how to seamlessly handle your exclusive social media event, Eventin is the tool you need. While the live event might take place on a platform like Facebook, the backend organization can be smoothly managed with Eventin. One of Eventin’s standout features is its capability to integrate with platforms like Google Meet and Zoom, and even you can navigate all your Facebook events easily.

No matter where your event is held – be it on Zoom, Google Meet, or streamed on Facebook – Eventin ensures all your attendee registrations and ticketing are consolidated in one place.
Also, forget manual follow-ups. Eventin can send automated reminders to attendees with direct links to the platform where your event will be hosted. With Eventin, you get a centralized database of all attendees, making it easy to manage participation, especially if you have limited slots.

Maximizing Profits Through Free Online Events

“Free” might seem like a no-profit zone, but when strategized well, free online events can be a gold mine. Let’s dive into how offering zero-cost access can be a catalyst for multiple revenue streams.

It’s hard to believe but you can gain profit through free online events too. Free events are a great way to introduce your brand or service to a vast audience, paving the way for future conversions. Gather valuable attendee information, a treasure trove for future marketing efforts. Also, no entry fee means more participants. A large audience makes your event attractive for various monetization strategies.

Monetization Strategies for Free Events:

• Sponsorships: Brands are always on the lookout for platforms with a captive audience. Your event can be that platform. Charge brands to promote their products or services during your event.
• Affiliate Marketing: Introduce products or tools during your event. Use affiliate links so that each sale made through your referral gets you a commission.
• Donations: Sometimes, if your content is valuable, attendees are willing to contribute voluntarily. A small donation button or a link can add up if many attendees chip in.
• On-Demand Content: Post-event, offer recorded sessions, additional resources, or workshops for a fee.
• Merchandise Sales: If you have branded merchandise or relevant products, promote them during the event.
• Exclusive Follow-up Sessions: Offer in-depth, exclusive sessions or consultations post the main event for a charge.
• Advertisements: Just like TV shows have commercials, integrate short ad segments or banners during your event.

Wondering how Eventin can assist here too? Let me tell you that, Eventin isn’t just about ticketing. It’s about amplifying your event’s potential. With Eventin you can easily integrate promotional segments, whether it’s for affiliate products, merchandise sales, or sponsored content.

You can keep your audience hooked with similar event suggestions. This makes them more likely to opt for paid offerings or make donations. You can also get insights from attendees on what additional content or products they’re willing to pay for.

Monetizing Recorded Events

In the world of digital content, nothing ever truly goes to waste. Once a live online event concludes, it’s not the end. In fact, it’s a new beginning – one where recorded events can become a continuous source of revenue. 

While reaching for a Global Audience, time zones can be tricky. What’s convenient for one part of the world might be midnight in another. Recorded sessions ensure everyone gets a chance to view them. Also, many attendees might want to revisit certain sections of your event for clarity or notes, providing another avenue for monetization.

Strategies to Profit from Past Events:

• Charge a nominal fee for access to recorded sessions. It’s like buying a movie ticket, but for your event.
• Create a library of past events and charge a monthly or yearly subscription for unlimited access.
• Offer recorded events as part of a package deal – maybe with additional resources, eBooks, or exclusive Q&A sessions.
• If you discussed products or tools during your event, use affiliate links in the description or as overlay links. Each purchase via your referral will earn you a commission.
• If your recorded event is hosted on platforms like YouTube, monetize through ads. Alternatively, get sponsors for your content.

When you’ve got a platform like Eventin, monetizing recorded events becomes simpler and more streamlined. You can control who gets access to your recorded content on your event’s page by creating separate events. You can also integrate affiliate links seamlessly within content descriptions or during registration, driving passive revenue.

But you need to understand what your audience wants more of. Eventin’s feedback mechanisms can guide your future content creation and pricing strategies.

Integrating Donation Systems

The power of generosity can’t be underestimated. Donations present a unique avenue for organizers to generate revenue, especially when the event is geared towards a noble cause or offers immense value to attendees. 

When attendees connect deeply with the content or cause of an event, they’re often willing to contribute financially out of appreciation or solidarity. Unlike fixed ticket prices, donations allow attendees to contribute based on their capacity and the perceived value of the event, sometimes leading to generous contributions. So, you can host virtual events where donations are accepted (especially for charitable causes) can boost your organization’s reputation, leading to more trust and larger audiences in future events.

Strategies for Effective Donation Integration:

• Always be clear about where the donations will go. Whether it’s to cover event costs, support a cause, or fund future events, transparency is key.
• Offer exclusive content, shoutouts, or other perks to donors. This not only encourages donations but also adds value to contributors.
• The process of donating should be seamless. Having clear calls to action and ensuring the donation process is straightforward will increase the likelihood of contributions.
• Recognize and thank your donors. This not only fosters goodwill but also encourages others to contribute.

You’d be amazed to know that Eventin allows for easy integration of payment options through Stripe and Woocommerce right within the event platform. Whether it’s a dedicated button or an integrated payment gateway, the process is smooth for attendees.

With Eventin, you, along with other event organizers, can keep track of all donations received, ensuring transparency and effective management of funds. Eventin provides flexibility in setting up donation options. Whether it’s fixed amounts, custom amounts, or tiered donations, the platform supports various donation models.

With its Twilio integration, Eventin can automate the process of sending out thank you notes or acknowledgements to donors, saving time and ensuring every contributor feels appreciated.

Generating Revenue with Recurring Events

Consistency is key, especially when it comes to hosting online events. Recurring events, whether daily, weekly, or monthly, offer a sustainable model for generating consistent revenue. Regular events help in building a dedicated community of attendees who frequently engage, ensuring a steady audience base.

With events happening at regular intervals, there’s a predictable stream of income, making financial planning easier. And if you are consistently in the audience’s view, you can strengthen brand recall and position yourself as a leader in your niche.

Strategies to Boost Revenue with Recurring Events:

• Consider a subscription or membership model where attendees pay a recurring fee to access all events. This ensures a steady flow of income.

• Offer different levels of access. For instance, basic access could be free, but premium content or additional resources could be behind a paywall.
• With regular events, there’s a greater chance to secure long-term sponsorships from brands wanting consistent visibility.
• For loyal attendees, offer exclusive merchandise or resources related to the recurring event theme.

Watch the video to learn how you can create recurring events on WordPress–

Eventin’s feature for maintaining recurring events allows organizers to set events as daily, weekly, monthly, or even annually, ensuring smooth scheduling. Each of your recurring events can maintain consistent branding, creating a recognizable and professional look.

Again, Eventin ensures that your attendees never miss an event by sending out automated reminders through Email or WhatsApp for each recurrence.

As Eventin supports multi-tier ticket pricing, so for recurring events, you can offer different ticketing options like ‘Single Event‘, ‘Monthly Pass‘, or ‘Annual Subscription‘. Moreover, understanding attendee behavior is crucial. With Eventin’s detailed analytics report, track guest engagement and ticket sales to refine your strategy.

Tapping into Hybrid Event Potential

Hybrid event models are emerging as a game-changer in this era. Blending the best of in-person and online experiences, hybrid events offer unique advantages and revenue opportunities. 

Hybrid events cater to both on-ground attendees and a global online audience, significantly expanding the potential reach. Some might prefer the physical experience, while others may opt for the convenience of attending online. Hybrid events cater to both preferences. With a broader reach and diverse audience, hybrid events are attractive for sponsors wanting to maximize their visibility.

Strategies to Monetize Hybrid Events:

• Charge differently for in-person attendees (who get the on-ground experience) and online participants. Each offers unique value propositions.
• While the main sessions can be accessible to all, consider having exclusive content or workshops for different segments of your audience.
• For events with an expo or trade show component, offer virtual booths. This allows global brands to participate and reach out to attendees.
• Record the live sessions and offer them as on-demand content for a fee post-event.

Here comes Eventin to assist you again. Eventin effortlessly bridges the gap between physical and virtual, ensuring attendees, whether in-person or online, get a smooth experience. You can manage diverse ticket types – from in-person passes to online access. The platform’s multi-tier ticket pricing is perfect for hybrid events.

Also, Features like Eventin’s QR codes for attendees can be used both on-ground for quick check-ins and online for interactive sessions or exclusive content access.

For in-person meetups, you can now add a Visual Seat Plan with different ticket pricing for events. Eventin-Timetics integration has made it come true.

Merchandise Sales and Special Offers

Integrating merchandise sales and special offers is pivotal in driving additional revenue. With the rise of the multivendor event marketplace, there’s a new avenue to explore. Event organizers can collaborate with multiple vendors to offer a diverse range of merchandise and exclusive deals. 

Multiple vendors mean a wider range of merchandise, catering to varied attendee tastes and preferences. By creating a marketplace with different vendors competing on the same platform, attendees might get more competitive prices and deals. Thus, attendees enjoy the thrill of exploring diverse stalls and grabbing exclusive deals from different vendors.

Effective Strategies for Merchandise Sales and Special Offers:

• Collaborate with vendors to create exclusive event bundles, combining products from different stalls at a special price.
• Promote top vendors or those offering limited-time deals to direct attendees toward high-value purchases.
• Make the shopping experience interactive with virtual stalls where attendees can ‘walk through’ and explore products.
• From T-shirts to mugs, design items that resonate with the theme or content of your event. These can become sought-after collectibles for attendees.
• Offer merchandise as part of a ticket bundle or at a discounted rate, even at your restaurants, to event attendees, encouraging them to purchase.
• Create urgency by offering merchandise or special deals for a limited time, driving immediate sales.
• Design a virtual space within your event platform where attendees can browse and purchase merchandise.

Eventin allows event organizers to convert their event management site into a thriving multivendor event marketplace. This means more choices for attendees and more revenue opportunities for organizers. Now you can easily manage multiple vendors, keeping track of sales, offers, and inventory in one consolidated dashboard.

Also, Eventin’s compatibility with WooCommerce, seamlessly integrates your online shop with the event platform, making the buying process smooth for attendees. Eventin supports payment gateways like Stripe, ensuring secure and quick transactions for all merchandise sales.

Benefiting from On-Demand Videos & Promotions

In this competitive era of brand promotion, catering to the audience’s convenience has become paramount. While live events offer real-time interaction, there’s a growing demand for on-demand videos that attendees can access at their leisure. Couple that with strategic promotions, and you have a potent combination for sustained revenue generation. 

Not everyone can match their schedules with live event timings. On-demand videos ensure that your content reaches them when they’re ready. Again attendees might want to revisit certain sessions or share them with peers, and having on-demand content allows for that. Even after the live event concludes, you can continue to earn by selling access to the recorded content.

Strategies for Effective On-Demand Video Monetization:

• Offer some sessions exclusively as on-demand content, making them available only to premium ticket holders or for an additional fee.
• Combine on-demand videos with other resources like e-books, exclusive interviews, or merchandise for added value.
• Offer limited-time access to certain video content at discounted rates to create urgency and drive sales.

With Eventin, seamlessly integrate recorded sessions into your event platform, offering attendees a central hub for all content. You can decide who gets to view your on-demand content. Whether it’s free for all attendees, premium ticket holders, or an entirely separate purchase, Eventin gives you the control.

You can also understand viewer patterns, which sessions are most popular, and how your on-demand content performs over time, all through Eventin’s comprehensive analytics dashboard. You can also give access to multiple users in different roles to submit events on your website with Eventin’s Frontend Event Submission feature. 

Offering Exclusive Online Sessions

Beyond the standard fare, there’s a burgeoning demand for exclusive online sessions. These sessions offer attendees unique insights, deeper engagement, and a touch of exclusivity. Exclusive sessions often cover niche topics in-depth, providing attendees with comprehensive insights that general sessions might not touch upon.

By limiting the number of attendees, these sessions can offer a more personalized experience, fostering meaningful interactions. And since they’re exclusive, these sessions can command a higher ticket price, adding to your revenue stream.

Making the Most of Exclusive Online Sessions:

• Collaborate with industry experts or thought leaders to helm these sessions, boosting their appeal.
• Incorporate Q&A sessions, workshops, or real-time problem-solving segments to engage the audience further.
• Offer attendees package deals that include access to exclusive sessions, along with other event perks or merchandise.

With Eventin, creating and managing exclusive online sessions is straightforward. You can set attendee limits, schedule sessions, and even manage waiting lists if needed. Sell tickets for your exclusive sessions directly through the Eventin platform. Set different pricing tiers, offer early bird rates, or even provide discount codes.

After the session, gather feedback through Eventin. Understand what attendees loved and where you can improve, ensuring that your future exclusive sessions are even more sought-after.

Final Words

Making money is never an easy job. However, understanding how to make money hosting events online can open you to a wide range of alternatives and techniques. With the digital revolution, online events have found a new shape. And using the advanced features of Eventin, you can greatly simplify and boost your event monetization efforts. 

Now that you know how to make money hosting events online, let me tell you how to save money, too! You can enjoy mind-blowing sales on Eventin throughout the entire year, so hurry up and choose Eventin and take the first step toward conducting profitable online events.

FAQs

Can I earn money from WordPress?

Yes, you can earn money from WordPress by setting up e-commerce stores, offering freelance services, starting a blog with ads and sponsored content, or selling digital products and online courses. Eventin can help you set up and manage single or multivendor events. 

Can you make money putting on events?

Absolutely! You can make money from events by selling tickets, securing sponsorships, offering virtual or in-person merchandise, and providing exclusive content or experiences for attendees. Add Eventin to your WordPress site and easily set ticket pricing and other financial transactions for each event. 

How do you host a money-making event?

To host a money-making event, plan your content well, market effectively to your target audience, set up a reliable ticketing system, offer valuable sponsorships, and ensure a memorable experience for attendees. Also, track your finances with Eventin to have crystal clear money management.