Monetizing Online Events and Captured Content
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This document discusses various strategies for monetizing online events and content. It includes discussions on: 1) How the Society for Human Resource Management (SHRM) launched a profitable virtual conference business by repackaging and reselling content from their in-person conferences to new audiences. 2) Recommendations for exhibitors and sponsors to maximize returns from virtual trade shows, including establishing sales teams, tiered sponsorship packages, and educating prospects. 3) Lessons learned from case studies show high engagement rates for sponsors of virtual events, such as many attendees visiting sponsor websites and searching for more information.
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Monetizing Online Events and Captured Content
- 1. AIBTM Professional Education #AIBTM #VirtualEdge
- 2. Monetizing Your Online Event and Captured Content
- 3. •Michael Doyle, Executive Director Virtual Edge Institute •Steve Williams, Director, E-Media Innovation & Business Development Society for Human Resource Management •Todd Kotlarek, Director of Live Events Trade Press Media Group , Inc. #AIBTM #VirtualEdge
- 4. What is Monetization? Monetization is the conversion of any asset, possession, or holding into money or legal currency.
- 5. How To Vote via Texting 1. Standard texting rates only (worst case US $0.20) 2. We have no access to your phone number 3. Capitalization doesn’t matter, but spaces and spelling do TIPS EXAMPLE
- 14. Audience Driver – PCMA365 PCMA365 drives a significant audience to face-to-face events. PCMA 365 IMPACT Convening Leaders 2012 •~3,800 attendees •550 attended 1st time in 5 years •120 of those had never attended •Indicated that PCMA365 was a key driver for attending in person •17% increase in audience! 2012 Convening Leaders
- 15. Growing Onsite & Online Attendance 12,700 Onsite Registrants 17,000 2009 2010 2011 2012 4,400 Virtual/ Hybrid 113,000 Virtual + UStream 189,000 Virtual + UStream
- 16. Monetization of Content Steve Williams, Director, E-Media Innovation & Business Development Society for Human Resource Management #AIBTM #VirtualEdge
- 17. • Society for Human Resource Management -- membership association of 265,000 HR professionals • One in-person annual conference and four in-person specialty conferences. SHRM’s Annual Conference has 12,000 – 15,000 attendees • SHRM launched virtual conference business in March 2010---profitable within first four months of launch • Continues to grow in revenue and profitability (85%-88% profit margin) SHRM Virtual Conferences / On Demand--- New Business / New Revenue Stream
- 18. What Does SHRM’s Virtual Conference / On Demand Revenue Strategy Have in Common with These Companies?
- 19. SHRM Virtual Conference / On Demand Revenue Strategy Answer: SHRM leverages existing content SHRM builds its virtual conference on existing content from the existing foundation of its successful in- person conferences
- 20. SHRM Virtual Conference / On Demand Revenue Strategy • SHRM pursued a paid model • SHRM built its own platform • SHRM believes in profit first combined with smart innovation #AIBTM #VirtualEdge
- 23. SHRM’s virtual conference revenue strategy involves re-purposing, re-packaging, and re-selling some content Companies do it all the time….
- 25. One Expense Four Potential Revenue Streams CONFERENCE ATTENDEES NON-CONFERENCE ATTENDEES DERIVATIVE PRODUCTS SPONSORSHIPS
- 26. • Package it as an upsell to existing in-person conference • Target one day in-person registrants and non-U.S. groups • Begin selling prior to the in-person conference • Promote onsite at the in-person conference • Conduct live streaming of a keynote and sell separately • Charge customers for additional time to access content • Partner with other companies to re-sell their content or to gain access to another audience
- 27. Monetization of Content Break into groups discuss what attendees can implement back at your organization based on what Steve has shared •What content do you charge for? •What content could you charge for? • What could you do in your organization?
- 28. Exhibit and Sponsorship Monetization Todd Kotlarek, Director of Live Events Trade Press Media Group , Inc. #AIBTM #VirtualEdge
- 29. Trade Press Media…Quick Facts • Market: United States • Live Events Launched 2001 • 3 Major Live tradeshows, multiple Virtual tradeshows • 11 events team stakeholders + Exhibition partner • Magazines/Online: 6 niche B2B titles: Facility Management, Jan/San, Commercial Rail • Market Leader in our space • For-Profit
- 31. Step #1 Find a Sales Champion • Go–to who can answer any question about show • Not a content/education person • Unique Focus • Passionate Leader • Co-Presenter • Lead follow up
- 32. Step #2 Establish Sales Team • Who sells? Determined by your structure • Best Client Relationship? • 6 Months out
- 33. Tiered Sponsor Packages Benefits Vary: •Profile •Commercial •Webcast •Content Assets •Leads Step #3 Pricing
- 34. Step #4 Train Your Sales Staff • Imperative they know the tools • Train • Practice • Set goal • Demo Champion • Practice
- 35. Step #5 Educate Your Prospects • On Demand Demo • Pre-Recorded Video Demo • Webinar • Proven Results • Set EXPECTATIONS!! #AIBTM #VirtualEdge
- 36. Demo
- 37. Sponsor Name Sponsor Level Unique Content Views Booth Visitors Average Visit Duration (min) Platinum 255 352 9 Gold 185 321 7.1 Silver 99 259 2.6 Silver 80 257 7.1 Gold 155 312 9.8 Silver 107 319 5.7 Silver 142 285 7.2 Gold 190 374 6.8 Gold 171 323 5.6 Platinum 122 313 5.7 Gold 175 292 9.1 Silver 165 324 5.2 Platinum 209 274 7.7 Silver 136 327 12.4 Silver 149 301 6.6 Silver 163 332 8.9 R O I
- 38. The Gift that Keeps Giving 59% of attendees visit a vendor’s website 49% search for more information about a vendor 19% have proactively contacted a vendor for more info 4% have purchased form a featured vendor 49% revisited the same event on-demand 37% have forwarded a registration page 34% have forwarded an on-demand link c/o Sharon Hudson, VP events, Marketing Profs
- 39. Lessons Learned • Sales Champion = Sales Pressure • Technical Testing • Exhibitor Training = Higher ROI #AIBTM #VirtualEdge
- 40. Exhibit and Sponsorship Monetization Break into groups discuss what attendees can implement back at your organization based on what Todd has shared •How do you sell sponsorships now? •If not, could you? •What is the make up of the potential sponsor or vendor base in your market?
- 42. AIBTM partners with MeetingMetrics: ‘Meeting Results Measurement Made Easy!’ Collect your CEUs for the education sessions on our tracking sheets, available in the conference foyer.
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