Five Ideas for New Digital Revenue Streams
It's unclear when traditional sources of revenue will return
Over the past few weeks hundreds, maybe thousands of association events have been canceled. Even as many remain hopeful for summer and fall events, it is unclear when we will be able to return to a more normal way of life, and what this new normal will look like. Opportunity for new and increased digital revenue streams still lies ahead even if your face-to-face meeting is cancelled or is smaller in attendance.
Taking Your Face-to-Face Conference Virtual. While this can be a large added expense for which you weren’t planning, it’s also an opportunity to increase your reach. You can decide you want to run the conference on the same schedule, or spread it out over an entire week or month, understanding people may be in a different situation now and that attending a virtual conference all day for multiple days in a row may no longer be an option. This could also allow for some more flexible pricing (for example, paying per session instead of for the entire conference), which may allow more people to attend and increase your overall revenue at the end of the day.
Webinars. Not a new idea, but perhaps one you weren’t utilizing in the past. You can decide to turn your face-to-face conference into a series of webinars throughout the year. Or if you plan to hold your face-to-face conference virtually on the same dates, or are simply postponing until later in the year, use webinars as an opportunity to keep your audience engaged online throughout the year.
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