As an event organizer, you have to understand that you can use each event as a means to earn more profit from your business. Yes, it’s not only when you hold the event that you can make money from it. You can also make money from other things related to your event as well, such as merchandise, books, and so on. Also, there is one overlooked way to earn more profit from your event, which is to sell the recordings of your past events. If you already know the importance of live streaming for your events, you can take the step further to record your live stream and sell your recordings later.
Here are 3 reasons why you should sell the recordings of your past events:
1. Additional Revenue Stream
Selling your event recordings can become a good additional revenue stream that you can have for the long-run. The more events that you hold, the more recordings that you can create, and the more revenue that you can make. Of course, you need to hire professional people to record your event, which can translate into more expenses, but the revenue that you get from it can easily cover the additional expenses and give you more profit later. Think of it as an investment for your business.
2. Not All People Can Attend Your Events
Not all people can attend your event when you hold it. Some people have other things to attend to at the time of the event, although they really want to attend to your event. So, to give the right solution to such situation, you can offer these people the recordings of your past events at the fraction of the cost of the event tickets. In this way, people get the best deal out of the transaction, and you can give them the opportunity to experience the events that they have missed.
3. Recordings Are Great Way To Promote Your Next Events
Selling the recordings of your past events can also give you a good opportunity to promote your next events. The way you do that is to promote related events that you are going to hold soon. In this way, the people who watch the recordings of your past events will know that there are some similar events being held soon. This may encourage them to buy the ticket for the next event quickly. This strategy can also give them the sense of urgency, which can also help you to drive more sales to your events. Of course, it is also better for you to integrate the ticket ordering process with your past event recordings to make it easier for people to order the tickets for the next event.