Monetize Your Cancelled Events with Live Stream Video
Live stream video is becoming increasingly popular for businesses, especially with events being canceled worldwide as a result of the COVID-19 outbreak. With many events shifting to live stream as a way of staying connected with the intended audiences that were originally planned to attend the events in-person, event producers are seeking ways to monetize the live stream content and recuperate some of the revenue that would have come from in-person event attendance. We’re showing you how you can monetize your cancelled events with live stream video.
The decision to live stream your event to the world represents a key opportunity to generate revenue for your brand despite the in-person cancellations and social distancing that is taking place.
There are many different options for you to monetize your live stream events and, with the right strategy, your business can accrue significant revenue from otherwise cancelled events. Here are a few ways that you can monetize your cancelled events as you shift to live stream video performances.
Live Stream Lead Capture for Future Marketing & Sales
As you live stream your event, consider including a lead capture form as the entrance “gate” to your live stream. The audience must provide key details such as name, email, and phone number in order to access the live video of the event.
Including a lead capture form in your live stream broadcast allows you to collect demographic information about your audience and represents a key element for your future marketing.
Now you can engage your audience during the live stream event and, after the event, you can send them drip marketing campaigns or follow up via phone to continue your conversation once the live stream event has ended.
Live Stream Pay-Per-View Events
Want to collect revenue from the event itself? Ticketed events that shift to a live stream model may want to consider a pay-per-view model in which prospective audience viewers must purchase access to the live stream in advance.
Just like a Pay-Per-View Boxing Match that is shown on television, pay-per-view live stream events allow you to collect online revenue from those who wish to “attend” the live stream event.
Using a “Freemium Model,” you can offer potential subscribers a short version access to the event that allows them to preview for Free what they are missing out on and then convert those individuals into paying subscribers that can then access premium event content.
Live Stream Events Accept Donations
Another way that you can monetize your live stream event is to collect donations from viewers.
Rather than offer a pay-per-view model in which viewers are required to pay a set amount, consider offering the live stream event to anyone interested in watching but offering VIP access or specialty programming to those that provide significant donations.
Accepting donations from your audience is as easy as adding a “donate” button to your live stream video so that viewers can donate directly from within the live stream.
Several options to monetize your event live stream through the support of donations exist. You could collect donations leading up to the live stream event, during the live stream, or in connection with the live stream.
Depending on your organization, donations may represent the most ideal means of monetizing your event online.
Setting Up the Live Stream Event
Now that you know there are options to monetize your live stream event even though it was previously cancelled for all in-person showing, are you ready to set your event up for the big screen?
While it may seem like a big letdown to be forced to cancel your in-person events and shift over to live stream video models, consider this: Statistical models estimate two-thirds of all internet traffic to account for streaming video–so streaming your event online represents an ideal opportunity to exponentially expand your reach and increase your event audience, so it’s not all bad!
For help setting up a live stream event, give Beverly Boy Productions a call at 888-462-7808. We’ll help you grow your live stream event online, generate revenue, and put on a great show for your audience! Our live streaming experts are ready to assist you right away!