The reality of transitioning to a Virtual Conference can be as simple or complex as planning a traditional on-site event, depending on the needs of your organization. As CommPartners sees inquiries come in for Virtual Conferences, one question we hear often is, “is an LMS platform really necessary?”
In short, we believe, yes! An LMS or Learning Management System, like CommPartners’ Elevate, allows you to house all your conference resources in one place and creates a space for attendee engagement. Your LMS will be an enduring knowledge presence that makes your learners want to come back to your site for content and information repeatedly. An LMS also opens doors for new ways to monetize online learning as a fresh, constant source of content for your clients and members!
A Home Full of Resources
An LMS platform provides a place for your attendees to return throughout your Virtual Conference. They can reference things like the agenda, speaker bios, virtual tradeshow booths, uploaded resources, and more! Just like an in-person conference or exhibit hall, your attendees will be able to explore your LMS platform to find new and interesting information. An LMS will house a full catalog of resources for attendees, simplifying their experience by eliminating the need for multiple platforms.
One of the biggest concerns when moving from an on-site conference to a Virtual Conference is the elimination of human interaction. Learners attend these events to network and connect with people, and online that doesn’t seem possible. An LMS like Elevate can provide you with many options to bridge the gap between attendees, including discussion boards on the conference site or a specific session, live chat, and Q&A with the presenters during a live broadcast and one-to-one chat messaging! Peer-to-peer conversations, discussions with presenters, and live reactions will create a sense of human interaction in a virtual space.
A Stream of Content
By building an LMS platform now, you can secure a solid foundation for future online events and even create a new, constant source of information for clients and members. Plus, if your organization would want to produce another event, you would already have the tools, site, and team in place to implement. Not to mention, your attendees would have continued access to resources provided by you. With an established LMS, you have the option to add virtual components to any future on-site events. Attendees would also have the ability to refer back to the recordings of your conference to refresh themselves on what they had previously learned. By building an LMS into your crisis solution now, you are securing your organization for a sustainable future.
Make Money While Solving a Problem
The current need is for a virtual solution. Just because you are strategizing how to move forward in difficult times, doesn’t mean it should be at a loss! There are many options within an LMS to monetize your online offerings outside of registration fees. An LMS offers a constant source of resources, like creating subscription plans for your learners to access resources. You can brand pages with sponsors, play sponsor commercials in breaks, and feature ads in various areas of the platform. You can charge for virtual booth space in addition to the on-site booth, should you move forward with an on-site program. Monetizing Your Virtual Conference may mean a new way of creative thinking, but it is entirely possible to do!
While creating your virtual solution for this new challenge, it is wise to slow down, even for a brief moment, and analyze the long term return on investment. With so many uncertainties lingering, creating an LMS will enable you to maximize your remote presence.
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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:
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.
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 email@example.com
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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.
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 firstname.lastname@example.org.