Monetizing Your Virtual Conference

Monetizing Your Virtual Conference

Going virtual doesn’t mean that you lose everything that an on-site event has! A lot of what you had planned for your on-site event can still occur online, it just may look a little differently.

Here are six ways you can maximize sponsorships and attendee revenue in a virtual platform:

Exhibit Halls

In your conference website, a virtual exhibit hall can be built out to house all the resources a sponsor wants to distribute to attendees. In each “exhibit booth”, the sponsor can upload PDFs, videos, company descriptions and links, and other resources. The exhibit hall will be open 24/7 – giving even more exposure for the sponsors that originally intended. The “exhibit booths” can also be upgraded to allow chat room style discussions between attendees and staff from the sponsoring organization. Your sponsors will get maximum and continual exposure to your attendees and will serve as a resource for attendees throughout the conference with having to have a booth “maned” the entire time.

Branding and Logo Opportunities

Because you are building this virtual conference site from the ground up – you have the ability to make an al a carte sponsorship of nearly any page on the website. Have a poster session? Offer this page a sponsorship add-on, with their logo in a prominent location on this busy web page. Giving an option for boosted exposure on commonly used pages on the virtual conference exposure is another way the sponsors can ensure they are getting ROI.

Commercials or Pre-Produced Videos

Sponsors could upgrade their commitment level to include a commercial or pre-recorded video to play before or after a session in the virtual conference. All the sponsor needs to do is provide the video ahead of time and it can be queued up! This gives the sponsor the attendees undivided attention, as they are preparing for or concluding a session. You can also chose to have that video as a permanent part of the archived recording, which means evergreen exposure for the sponsor!

Session and Speaking Opportunities

There are numerous ways to offer speaking opportunities to your sponsors in exchange for financial support.  You can offer an entire session to sponsors, or you can create a while section of your agenda dedicated to sponsors giving presentations! Allowing the sponsors to present gives them the feeling that they may miss of being in front of human people. It give a human interaction to a virtual setting.

Attendee Access Fees

Just as you would charge a registration fee for an on-site conference, you should be charging a registration fee for access to the virtual event. You can also break the access into per day or per session registrations if that suits your conference model better. You can also charge for access to various, high-profile discussions or resources. Attendee fees should not necessarily be less for a virtual conference, because while you are eliminating food and venue costs, you are now gaining hosting and technology costs.

Subscription Fees

Allowing your content to live on in an LMS is a smart move. You are able to continually add to your archive through the years of events and house more resources for 24/7 access. Just because an attendee paid for the conference does not necessarily mean they should receive access to the archives for an undetermined amount of time. You could restrict access to archives and other resources to those that choose to purchase subscriptions to your LMS platform. Entice your attendees to subscribe by offering exclusive content in the subscription model only.

Whether you are going virtual from the onset or rescheduling an onsite event, the conversation about monetization is important and necessary. There are many ways to drive revenue for a Virtual Conference, and these six options are only scratching the surface! Have any other ideas on how to boost revenue in a virtual format? We would love to hear from you at marketing@commpartners.com


 

Click HERE to see all the episodes from Going Virtual with Kate!

 

“Just because it’s not optimal, doesn’t mean it’s not beneficial.”

“Just because it’s not optimal, doesn’t mean it’s not beneficial.”

I’m a big fan of the author James Clear who writes about the formation of habits. I believe (good!) habits are an important element of success (I’ve written about it before.)

In a recent blog post, Clear wrote: “Just because it’s not optimal, doesn’t mean it’s not beneficial.” Read another way, this is the old adage of don’t let the perfect become the enemy of the good. Or don’t let perfection be your target, because you’ll always fail.

I see this very commonly when discussing the integration of systems with clients (e.g., AMS and LMS). The optimal situation is a real-time, two-way integration between the two systems so that data is shared immediately.

But this often proves to be very time-consuming and expensive to develop (and sometimes can’t be developed!). So rather than a two-way, real-time integration we opt for a two-way passing of data on a schedule (e.g., once per day). Optimal? No. Beneficial? Absolutely.

So when considering changes to process or technology within your organization, keep in mind that while the change might not be optimal, it can be beneficial, and that’s what we’re looking for.

This guest blog post/article first appeared at www.effectivedatabase.com and is repurposed with permission.

 


Wes Trochlil is a published author on data management in the association market. He helps organizations move data management from a cost center to a revenue generator.

CP Adds Certification Module to Elevate LMS

CP Adds Certification Module to Elevate LMS

Columbia, MD – April 30, 2019. CommPartners, a leading provider of Learning Management Software has announced the launch of their new Certification Module as a component of its Elevate Learning Management System. The Certification Module allows organizations who utilize Elevate, to provide their communities a more holistic method for validating learning achievement over a period of time.  Organizations who utilize Elevate as their LMS will now be able to provide online courses and other content that can immediately be applied towards a certification or re-certification within the same education platform.

The Certification Module allows administrators the ability to define eligibility prerequisites, earning requirements, duration and expiration. In addition, the module manages re-certification start periods and requirements, access eligibility, access costs, and defines required and elective courseware. Tracking of user progress keeps participants abreast of where they are in the process.

Richard Finstein, CEO of CommPartners stated:  “We are thrilled to add certification to our Elevate LMS.  It makes sense to have a single platform for a credentialing program and the eLearning content that contributes to that greater achievement.”

 

About CommPartners

CommPartners is an established leader in online education and event solutions to the association community. At the core of the company’s offering is our Elevate Learning Management System. To extend the value of Elevate LMS, we provide a wide range of online education services including curriculum design, instructional design, fully managed webinars, webcasts, livestream programs and virtual conferences.

To learn more about CommPartners, Elevate LMS and the Certification Module, visit www.commpartners.com or contact Meghan Gowen at mgowen@commpartners.com.

 

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CP Receives Best Continuing Education System Award

CP Receives Best Continuing Education System Award

CommPartners is excited to announce we have received the Best Continuing Education System Award from Talented Learning, an independent research and consulting firm devoted to helping organizations of all sizes choose and use LMS solutions and related technologies for their unique business needs. The selection of CommPartners as an award recipient included an extensive consultation and a detailed review of the platform. . CommPartners is honored to have been selected from over 750 LMS providers.

“I am grateful to be a part of this community and to have the opportunity to continue to evolve our Elevate LMS to support our clients development and growth. We are excited about 2019 as we continue to introduce new features that allow our clients to become their community’s primary source for knowledge and continuing education Says Rich Finstein, CEO of CommPartners

CEO & Lead Analyst of Talented Learning, John Leh, shared, “With more than 25 years of experience in serving associations and non-profit organizations, CommPartners has grown and evolved along with continuing education needs and technologies. The CommPartners solution is unique because it offers more than just a strong, community-oriented, mobile-responsive, modern LMS.

The platform is also supported by a variety of companion services, including curriculum and instructional design, as well as production and management of webinars, webcasts, live-streamed events and virtual conferences. With personalized, hands-on guidance from in-house experts, CommPartners ensures that clients achieve high-quality results from their investment in continuing education programs.”

If you are interested in learning more about Elevate LMS or CommPartners’ online learning and event solutions please contact us at info@commpartners.com.

CP’s Unique Outlook on Onboarding

CP’s Unique Outlook on Onboarding

The CommPartners Approach to Onboarding Your LMS

Last week, I was speaking with a colleague who had just returned from an all-inclusive vacation in Mexico. During our conversation, I asked what some of the highlights from her trip were. The response I received sparked a thought about the true value that comes with genuine customer service.

Now, you would think that the first thing she would tell us about is the delicious food or beautiful beaches, but to our surprise, there was something that she thought stood out above those luxurious details. What stood out to her the most was every time she and her husband asked for something, the staff responded with “It’s our pleasure.”   This made them feel valued for choosing to invest their time and money into this resort.  It’s our pleasure, conveys a feeling of appreciation.

At CommPartners, we quite often discuss how grateful we are to be involved in the association community, surrounded by an amazing group of people, who we value and feel so fortunate to work with and support.  We know education is a core component for most associations and what we do matters a great deal.

A learning management system is a significant investment, both financially and strategically, that can take months, even years, to make a decision on. Once the decision is made, the client and LMS provider come together to create a unified partnership and shared mindset, determined to fulfill the client’s overall vision.  The onboarding process that follows is a critical time where expectations are confirmed and a foundation for working together is set. This is where “It’s Our Pleasure” comes into play.

Like any first impression, the first moments of the onboarding process are a sign of what to expect down the road. The first thing you notice is the tone of the communication. How professional and courteous is the project manager? Is this person responsive?  Is he or she clear about what to expect, and with follow-up communications. Is this person detail oriented?  These are all critical elements?

Just as important, is if this person has a positive attitude and is enthusiastic about your project?  Do you, as the client, feel appreciated for the decision you have made and the faith you’re imparting on your selected provider? Are you truly in this together?

At CommPartners, we have gone to great lengths to support and empower our onboarding staff who in turn are giving and generous with their time and spirit. They recognize how critical it is that you are welcomed properly to our organization and that we are simply not just saying thank you for your business. Actually, it’s our pleasure to serve you.