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How To Create New Revenue Streams In 2021

2020 challenged event organisers to find creative new ways of completing their planned events, seminars and courses.  Many of our clients managed to adjust to alternative ways of running events at record speed, utilising technology such as webinars and live-stream solutions.  As well as keeping a revenue stream coming, this also opened the doors to fresh markets and customer demographics.

In 2021, event organisers must continue to find innovative ways to deliver their events.  This means sourcing different ways of bringing in income, which we will discuss in this blog.  Here are five options which we believe are relevant for the year ahead.

Hybrid Events

Events combining physical and online implementation have been given the term hybrid event.  This type of event is suited to offering physical attendance up to a set maximum number, whilst also allowing virtual participation via a webinar or live stream.

An example of an event type which has used this method is training classes (e.g., yoga) where some participants attend in person whilst others participate at home.  Whilst this is a tried and tested formula, it is especially relevant during these difficult times to offer flexibility to your customers once Government restrictions allow for some physical attendance.

The hybrid event model is flexible to offer online participation only, which is especially relevant during lock-downs.  When restrictions are eased, you can then look at reintroducing some physical attendance where it is safe to do so.

Another benefit of this is that customers who are unsure of attending due to the health risks can still attend virtually via a webinar or live stream.  Providing this flexibility accounts for each customer’s individual situation and places you in a good position to maximise revenue whilst acting responsibly as an event organiser.

Using our communication tool, you can continuously communicate with your participants as and when required, either in a bulk email to all attendees or based on the booking categories you offer (e.g., separate messages for physical and virtual attendees).  It may be that those who participate in person need specific information about COVID safety, infection control and how to act responsibly to keep everyone safe.

An important factor to take into consideration when choosing the best online booking system for webinar or live stream events is the way in which your participants receive their link to attend virtually. 

Use Our Complete Webinar Solution

Participant has launched a complete webinar solution which is integrated with ClickMeeting.  This enables you to use the same platform for registration, payment and implementation of your webinar.  By choosing our all-inclusive webinar software package, you will save a lot of administrative work whilst creating a better user experience for your customers.

Thanks to our new webinar software package, you can set up registration for your hybrid or digital events and receive your customers’ bookings securely through our online booking system.  The system will send out automatic emails to your participants with secure links to your webinar included.  If you would like to send out additional emails/SMS communications, you can also do this through Participant.

Using our complete webinar software will provide you with more control over your events, with all the information you need in one place.  It will also be beneficial for your participants, who will enjoy the simple and easy customer journey.

Streamline Your Webinars With Zapier

Many event organisers use webinar software such as ClickMeeting and Zoom in combination with a registration and payment system such as Participant.  With Participant, you can collect your participant’s information and manage payments in an easy and responsible way.  We will transfer your revenue to you every week.

By using a booking system and webinar solution separately, you will have to send the link to your participants in a separate email.

With Participant, you can easily send out an SMS or email with the webinar link to your participants.  If you wish to run all communication through the webinar solution, you can easily export the attendee information from Participant and then import it to the relevant webinar solution.

Participant has integrated with Zapier which streamlines this process.  Zapier is a platform which automates workflows by connecting over 2,000 apps together, meaning that you can easily send information between solutions automatically.

If you use our online booking system, all registrations will be automatically registered for the webinar you have created.  This means that there will be fewer manual tasks and more time to focus on running your event.

Provide Anytime Access To Watch Your Online Events

As well as providing online events to your participants, we have also noticed an upwards trend in organisers recording their webinars and live-stream broadcasts.  This gives the opportunity to sell access to your videos and create libraries with archives of videos for your customers to peruse.

Giving access to cooking, yoga, or ski classes online, for example, gives you a way of giving your customers informative content whilst also generating revenue for your business.  A second benefit to this is that your viewers will feel connected to your business and customer loyalty will be driven.

The aim of this is to maximise your potential for earnings; the webinar will still be carried out, but then content can be built from that which can be sold to a wider audience.  With that said, this is not a replacement for running a live webinar, but purely an additional revenue stream on top of this.

Book Now, Pay Later

The approval tool makes it possible to accept bookings for your events now, whilst not asking your customers for payment until you are given the green light to proceed by the Government.

This is beneficial to event organisers, as you will be able to generate interest in your events and determine the level of interest in them prior to deciding to run them.  In turn, you also have a solid guaranteed revenue stream with a captive audience if restrictions allow for your event to run.

In turn, this also benefits your participants as they will be more obliged to sign up to an event which does not require immediate payment in these uncertain times.  If restrictions are relaxed, you can then send out the invitation for your customers to confirm their booking and make payment.  They will not have to fill out the additional registration details again, as this will have been done during their initial space reservation.

Learn more about our book now, pay later model here.

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Since 2002, we have provided online registration and payment solutions to sporting organisations, businesses and individuals. Our ultimate aim is to make everyday life easier for the organiser and participant.

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