Whether you are hosting a free event for your business, club or other organisation, there are many advantages including spreading publicity and making new contacts. However, even though the event itself is free, you may be looking for a few ways that you can make some extra cash. After all, it has to get paid for somehow. So, in this blog post, we are going to look closer at just a few of the ways that you can make money from free events.
Set Up Booths and Sell Material
Booths at your event are there to promote and sell any additional services and activities that you would like to. Perhaps you are running a business and would like to offer some of your products. Maybe you are running a club and you would like to enrol people in classes. Whatever the case, people are likely to be in a more receptive mood to sales approaches as you have already offered them the event ticket for free.
Sell VIP Tickets
Even though the event itself is free, you could easily sell some VIP tickets that provide special guests with some exclusive content or experiences. Make sure that you are clear about the advantages that your VIP guests will enjoy ahead of regular visitors.
Host a Contest
Hosting a contest in which your guests have the opportunity to win a special prize is a great way to generate some cash from your event. Make sure that you promote it thoroughly before, during and after the event. You also need to ensure that your grand price is attractive enough to encourage people to enter the contest in the first place.
All kinds of companies look to sponsor events as a way of getting their name out there by supporting something positive that is going on in the community. Even if you had never thought of event sponsorship as being an option, it is certainly something which is worth looking into. If possible, you should be looking for sponsors who are a natural fit with your company.
Sell Event Souvenirs
You could offer your guests something which provides them with a lasting memory of the event that they have just enjoyed. Perhaps you could set up a photo booth and give guests the opportunity to buy pictures of themselves. Maybe you could sell branded merchandise. If you have a special guest at your event, you could encourage the sale of some of their materials such as books or CDs.
Focus on Contact Details Obtained
For many businesses, one of the central purposes of hosting a free event is to make new connections. So, you should make sure to get as many business cards and contact details as you can so that you can follow-up with as many people as possible. You never know what sort of opportunities you may get from hosting an event, and you need to grab as many of them as you can.