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Pricing Strategies for Virtual Convenings - Convening & Coronavirus - Shared screen with speaker view
Kate Byrne
14:14
Good Capital Project is now known as Total Impact
Rei Champion
14:45
https://app.sli.do/event/7gyauhew
Sarah Sterling
16:11
sarah@conveners.org = Community Membership
Martha Belcher, SVI Women
16:43
Rei - curious to know your thinking about using Slido instead of using Zoom polls?
George Murage
17:35
Same here, Martha. Rei, I'd also like to know the difference between this and Slido & Mentimeter.
Rei Champion
17:54
@Martha great question! We are simply experimenting with different strategies. We typically use Zoom polls
Nche Onyema
18:02
Considering optional honorary ticket purchase
Michelle Carr
18:25
We decided not to increase the price of our program, have offered some events for free, and have reduced the price for other convenings
Rei Champion
18:49
Johns Hopkins University: https://coronavirus.jhu.edu/
Rei Champion
19:00
Our World in Data: https://ourworldindata.org/coronavirus
Kate Byrne
30:25
Hey there Justin! Good to see you
Regina Ridley
31:54
Topics that came up: how to price tickets and sponsorships, 1/3 of previous ticket price? Also how do you sponsors value of sponsorship.
Kate Byrne
32:23
Happy to talk a bit about the sponsor piece if helpful to folks
Justin Belleme
32:46
One thing that I feel is critical for online events is balancing list and audience growth with generating revenue.
Justin Belleme
32:55
We have a virtual event that could pass 100,000 attendees
Justin Belleme
33:07
Their normal event is 2000 at $2000 each
cherylm
33:16
Are people finding that increase in attendance is off-setting lower ticket costs?
George Murage
33:36
One that came up was finding out what would be a good registration service to get people to sign up for the virtual event..
Justin Belleme
33:44
Yes for the event that typically charges $2000 is charging $100-250 for online.
George Murage
34:00
I would also ask about how to offer really good networking to the event attendees in a virtual event scenario
Martha Belcher, SVI Women
34:14
I’ll offer that peoples’ appetite for paid content is shifting as the culture for virtual events is evolving
Rei Champion
34:29
https://app.sli.do/event/7gyauhew
Rei Champion
35:27
Kate Byrne - kbyrne@intentional.co
jenniez
36:09
Martha, can you say more about how you see it evolving?
SaraJoy Pond
40:43
From our perspective, as the market becomes a bit more ‘saturated’ with free content, an appetite for ‘premium’, paid engagements seems to be emerging. Especially for engagements that push toward more authentic ENGAGEMENT, more connection, more deep networking.
Martha Belcher, SVI Women
41:01
Yes! What SaraJoy said…
Justin Belleme
41:02
I agree 100% on the volume comment by Kate. We got 7,000 signups for one of our client events in 1 day last week. They typically only do 2000 attendees total for their in person event for the full year.
Christina Cusack
41:11
What formula are you using to price your in-person conferences? Break even? 10% profit? It seems like you could apply that to your prcing strategy. And since virtual events cost about 1/3 of in-person events, you'd still be charging far less. If you wanted to factor in scholarships to make your program more accessible, you could build that in and amortize that cost among your other paid attendees.
Sarah Sterling
41:15
AMAZING ENTREPRENEUR PROGRAM KATE ;)
Nancy Hammerman
44:00
wanted to know about registration platforms. Are people looking at a tech stack and having separate platforms for separate functional aspects? Has anyone looked at Brella? Thoughts ?
Nche Onyema
46:25
Can you explain that event within other events concept again?
Mia McLaughlin
46:41
@kate Are you using Hopin for SOCAL also?
Ian Brown, Salzburg Global Seminar
48:17
we've given small grants to participants whoneed broadband access. Sometimes in $50-70 amounts
Kate Byrne
50:07
We are reviewing a few other platforms for SOCAP. For what you described in our breakout @Mia it would be great for your event I think.
Mia McLaughlin
50:17
Thanks Kate!
Kate Byrne
51:21
And yes we need to start charging for smaller events.
Kate Byrne
56:13
Historically SOCAP has used Bizzibo
Rei Champion
56:41
@Laurel - very grateful for the background on your decision-making process (particularly around sponsors)
Christina Cusack
57:19
Are you finding any change in the amount of time spent planning a virtual event vs. an in-person?
Laurel Dault | Hollyhock
58:17
Planning the virtual event took much longer! My hope is that if we did another SVI online, that it would be a bit easier now that we’ve identified methods and process
George Murage
58:46
Does anyone know what we can do about exhibition booths? How do you sell that value to a potential exhibitor in a virtual event? And how do you ensure they get that value through-out the event period?
Martha Belcher, SVI Women
58:57
Confirming Laurel’s comment. We had to tear our event programming apart and rebuild it.
Kate Byrne
01:00:03
Expo booth can be a place for programming, video, and hopefully one day pdfs
Martha Belcher, SVI Women
01:00:08
The convenors.org training gave us the skills and the CONFIDENCE to dive into the virtual pivot
SaraJoy Pond
01:00:12
Amen Laurel—I really question the whole 1/3 cost heuristic. If your event is literally 80% venue and food costs perhaps. Otherwise, I think that estimation is off.
Rei Champion
01:00:20
Please reach out to events@conveners.org if you’re interested in learning more about the Virtual Convening Certification :)
Christina Cusack
01:00:21
I'm finding that too. I feel like I'm building the ship as we're sailing it. This is all brand new.
Laurel Dault | Hollyhock
01:01:02
@SaraJoy, yes, for us it was a 50% reduction in hard costs by not being in person, which doesn’t take into account our design and staffing time
Mia McLaughlin
01:01:09
@Christina, that's exactly what I feel like too. I am standing on a board and using another to paddle right now lol
Ian Brown, Salzburg Global Seminar
01:01:13
Agree Sarajoy! We're finding that we can keep people engaged far better over a much longer time too, and while that's great, it is also more expensive
Martha Belcher, SVI Women
01:01:32
I’m convening a global event in December and would love to be in touch with others who are dealing with time zone, bandwidth, planning and agenda.
Rei Champion
01:02:04
Huge kudos to the Katapult team! Here are some resources on their transition and learnings on the Hopin platform: https://www.conveners.org/covid19
Martha Belcher, SVI Women
01:02:39
mbelcher@growaldfamilyfund.org
Martha Belcher, SVI Women
01:03:16
Recommend a Convenors.org community event that addresses global event...
Kate Byrne
01:03:24
I also think that in person events are forever changed
Nancy Hammerman
01:03:59
creating trust connections
Joanne's iPhone
01:04:03
Martha, this is something we’re looking at and challenged with at Social Enterprise World Forum. If Kate’s in touch with my colleague Gerry, I’ll make sure you’re copied in
Nancy Hammerman
01:04:15
NH@suttoncapitalpartners.com
Ian Brown, Salzburg Global Seminar
01:04:24
ibrown@salzburgglobal.org all our programs are internationally focused, so happy to talk to you too, Martha
Martha Belcher, SVI Women
01:04:24
Gerry was in my training cohort and will reach out to him.
George Murage
01:04:49
Happy to attend the trust discussion - George.murage@intellecap.com
SaraJoy Pond
01:04:56
Thanks for that suggestion, Martha—We’ll think about that :)
Regina Ridley
01:04:59
regina@baynature.org
Ximena Bejarano
01:05:00
Thank you all. Very helpful to hear form you all!