EventCombo's Guide on How to Make More Money With Your Events

Jun 06, 2017 Tara Geigel

If you've done an event already, you know how hard it is to get everything to come together. All the logistics involved, from booking the venue, deciding on the date and time to confirming entertainment, partnerships, promotions and ticketing - each event is like a motion picture production. 

You have one event to maximize your profit margins. One slip up and you can end up in a financial loss. 

With all the risks and challenges of organizing events, it isn't good enough anymore to rely solely on ticket sales. 

That's where EventCombo comes into the picture. Let me explain.

EventCombo sets out to challenge the status-quo and provide creative ideas to organizers, which will not just add value to events but also introduce new ways of increasing revenue.

Offer Your Attendees More

The current event landscape has become pretty monotonous in terms of what an attendee gets to experience at an event. Your attendees buy tickets and then partake in plenty of other activities around your events, something you are not involved in. Until now!

If you offer your attendees more options through your event, chances are pretty good that they will appreciate and avail your additional offerings. This will not only increase your engagement, but grow your bottom line.

Examples of what else to offer your attendees include getting them to and from your event via Uber or Lyft. Or ParkWhiz if they are driving in to your event, which lets them choose from many low cost parking garages. If your event requires lodging, then giving them some options on hotels or Airbnb. 

This is just the tip of the iceberg. You can also give your attendees additional offers to other products or services, which would be of value and interest to them. Of course, you cannot offer things that would not add value to your attendees experience, otherwise you will lose credibility.

Go ahead, with EventCombo, offer your attendees more and watch your profits increase event-over-event.

Get Creative With Tickets

Offering General Admission tickets, advance tickets or different levels of tickets isn't enough. You have to cater to your attendees most important desires and needs and offer them tickets that they will feel emotionally connected with. Tickets that will satisfy their interest and increase their positive experience.

Specifically speaking, the use of "special access" tickets. You know your attendees best. Therefore, figure out what "extra" ticket level you can offer them and do not make it available to the general public.

Instead, create a "special access code" - which would make a ticket available to only those who have this code. This makes attendees feel special and hopefully the special ticket you are offering is in fact worthy of being "access only." Some examples of a ticket you can hide to the general public and only make available to a select few attendees include discount tickets, tickets with meet and greets, tickets for early entry and tickets with additional goodies (swag bags, etc.). Try this strategy and let us know how it worked out for you. EventCombo's system allows you to accomplish setting this up through our technology.

Land Sponsorships

The current state of event planning leaves a considerable amount of money on the table, money that an organizer can instead utilize to enhance their event or spend into other areas of their organization.

Through EventCombo's strategic support, you can leverage some industry standards and secure brand sponsorships for your event. Brands love access to a thriving user base (your attendees) who spend money. Through your event, you are creating a living, breathing advertisment platform.

How you use the platform is the difference between a good attendee / brand experience and a bad one. So you have to make sure the brand presence you are injecting into your event complements the experience or interest of the attendees. In other words, you wouldn't get a brand sponsorship from Adidas for your Wine and Cheese event.

Identify, target, and engage with your potential sponsors. How you engage with them is very important and you need to make sure you are prepared with all the necessary tools they will ask you for (a deck, your offering, etc.). We will help you cover sponsorships in a future article. 

These event ideas to make money aren't just about profitable event ideas, but how you can add real value to your events. 

The most profitable events to organize aren't necessarily the best ones, so you have to find the right balance of value and profit. How to make money hosting networking events or any other theme becomes moot if you aren't adding value. To make your event profitable is only the beginning as there are plenty of ways to make money from events and make more money from your attendees. Just always keep value and experience in mind.

We hope you got some good insight and help with our 3 ways to make extra money with your events. 

Go ahead and try EventCombo.com's technology, it's free and easy to use. Create your event on EventCombo.