When was the last time you introduced something to your Association that truly changed the way your Association functioned, in a positive way? For many Associations, Live Virtual Events have become the positive “Game Changer” that their Association needed to drive attendance, increase engagement with their members and generate much needed new revenue.
Live virtual events include live streaming from your conferences, live webinars, running live or pre-recorded virtual events and converting on-demand courses to live in-person courses.
If you are not live streaming your content to a virtual audience, you are missing out on a golden opportunity. With Digitell’s “Full Price” business model, clients are getting the same registration fee from their virtual audience as they are from the physical audience resulting in the generation of significant new registration revenue above and beyond the cost of streaming. Thousands of members are now being re-engaged worldwide by attending the live stream. Associations are reporting a 20-40% conversion rate of virtual attendees becoming physical attendees. Many Associations have reported generating $500,000 to $1,000,000 in new revenue from their live streaming efforts of just a single event. This kind of revenue generation is a “Game Changer” for those Associations.
Turn your conference recordings into a 1 day or 2-day virtual event and continue to engage new audiences all year long. Re-purposing content, as they call it, is the most cost-effective way to leverage what you have already created to increase your ROI on your content development costs. These re-purposed virtual events have been a new revenue source for Associations and provide an opportunity to engage your online community year-round.
Many Associations produce online, self-paced, courses as part of their on-demand offering. By offering those courses as a live, interactive, course, Associations are reaching new markets and appealing to those that prefer to learn with their peers and not on their own. PCMA reported 102 out of 108 Registrants of their DES Course chose to take the course as a live event vs an on-demand course, demonstrating the demand that currently exists for live events and the confirmation that running on-demand courses as a live event is an attractive alternative for your members.
When you consider that planning and organizing virtual events takes a fraction of the time and costs of running a physical event, you have the ability to multiply your ROI by running several virtual events throughout the year. In the digital era that we live in, building and growing your online audience is a critical factor for the future growth of most Associations.