How to monetise events for fun, profit

and charityBy Grahame Lynch, convenor CommsDay

Summit & owner Overground Bar+Cafe

Daily newsletter, biannual event for Australia/ NZ telecom/mobile/data centre sector

About CommsDay Summit

Revenue share model with DJs, bands, comedy night organisers

About Overground Bar+Cafe

MANY COSTS UPFRONT

* Venue hire * Printing,

promotion costs * Insurance * Funds to counter

risk of shortfall

MONETISE BEFORE THE EVENT

* Early bird discounts 25% or 3 for 2 deals * Get sponsors to pay

half upfront and half after

* Get sponsors to directly cover costs* Online booking/ direct response/ease of purchase

Pre-monetise events

Sponsors want: * visibility * prominent

association with cause

* pre-, during and post- exposure

* platform to promote real products and services

So deliver them: * co-branding on posters,

social media, advertising, banners

* branding on post-event photos, videos

* naming rights * free passes * stands at events * sample, product giveaways

and sales (ie beer monopoly) * meetings with performers,

photo, vod and podcast opportunities

* special sessions or sections to sponsor

Structuring sponsorships

CATEGORISE SPONSORSHIP

DIAMOND

PLATINUM

DINNER

GOLD

SILVER

REFRESHMENTS (COFFEE)

WIRELESS SESSION

WI-FI

SUPPORTERS (STANDS OR BULK TICKET PUCHASES)

SPONSORSHIPS * Categories should be

tiered with various levels of commitment

* Be aware of their opportunity cost, advertising profile can help bridge the gap

* New brands and concepts require lower entry pricing – you need to earn premiums

ATTENDEES * Bangkokians not that

affluent * Early bird discounts,

group discounts * VIP privileges

(benefits must be real) * Consider pricing of

alternatives * price for maximum

uptake, ask for donations later

How to price events

* Tie costs to specific sponsorships ie Hugo presented by Ansell

* Ask for volunteers to perform specific tasks with measurable commitments (reverse auction)

* Tender for venues publically

* Invite specific media to become involved as organisers/volunteers

* Trade room hire/costs for indirect revenues such as room nights

* Encourage sponsors to provide labour

* Build your own databases year around

Control and reduce costs

ARTISTS (SPEAKERS) * Dedicate a

manager to serving their needs/ greeting them

* Give them a private area

* They are the reason people are there, treat them accordingly

VENUE * Simplify/minimise

promises to attendees about venue experience

* Ensure signage everywhere

* Don’t promise what someone else might not deliver

* Everything in writing = always

* But personal relationships important

Smooth on the day

Paid promotion and advertising is expensive Trade sponsorships for media ad placement Hold a pre-event press showcase Use the PR/marketing power of sponsors Use your talent as press material Social media (Facebook) a must Plan for the worst (being attacked by the charity for

example) Employ marketing/sales volunteers not just workers

on the day Consider trading a sponsorship for a professional PR

campaign

Marketing and media

Even charity events are businesses: they need to be capitalised with cash from day 1

Event sponsorships are more valuable the longer they last ie plan for 3 months pre and 1 month post. Conceptualise the value of your event in terms of project life, not just the day of the event

Longer planning times are worth it anyway Be consistent with branding – positive word of mouth should

accrue to the event brand not the individuals behind it Do not criticise any stakeholder in public EVER People are forgiving in Bangkok – do not fear hiccups or small

failures For charities set a target: involve ALL stakeholders in taking

responsibility for reaching that target (the telethon model) Also for charities: accountability is a must, inclusion of

stakeholders highly desirable as PROFIT is being traded for VIRTUE

Final points

Questions?