There are many ways that you can make money from developing an event management app. Below are some of the most effective revenue models and strategies for monetising such applications:
1. Ticket Sales, Find out how much each staff member will be paid.
Ticket sales are one of the most direct ways to make money. The app can be used to book tickets for events, and a transaction-based revenue model can be applied to the app, wherein the app will charge a service fee or commission on all of the tickets that are sold. Platforms such as Eventbrite use this model widely. Additionally, you can offer dynamic pricing, early bird discounts, VIP packages and the like to also push ticket sales.
2. Subscription Model
The subscription-based revenue model provides users with access to premium features or exclusive content for their recurring fee (monthly or yearly). This model is especially helpful to event organisers organising many events in one year. Therefore, different levels of service (e.g., basic event listings, advanced features such as analytics, personalised schedules, or networking tools) can be offered to users by creating tiered subscription plans.
3. In-App Purchases
They can be a very good revenue stream. For example, attendees of events will have to pay to get access to such additional services as VIP access, exclusive content (e.g., live streams or recorded sessions), or event-related merchandise. Additionally, this model enables users to enrich their event experience by purchasing extras straight in the app.
4. Advertisement-Based Revenue
Another easy way to start making cash would be to sell ad space inside the app. Banner ads, pop-ups, sponsored content, and more. Apps that attract a large audience often draw sponsorship and/or advertising dollars from sponsors and advertisers. Furthermore, push notifications can serve as sponsored messages to invite visitors/customers to view relevant offers.
5. Sponsorships
Event management apps rely on sponsorship deals as a big income source. We can offer premium visibility to sponsors through the app’s branded sections, the splash screen of the app, sponsored sessions, etc. Such sponsorships allow them brand exposure and bring them a lot of revenue on the app [8] [9]. Another way is to offer sponsored polls or gamified activities, coupled with sponsor-backed rewards to increase engagement and monetisation potential [10].
6. Freemium Model
Whether it’s detailed analytics, personalised recommendations, or even networking tools, the app charges for advanced features while keeping users’ windows open to free basic functionalities. This model is called the freemium model. Put simply, this model incentivises the acquisition of users while providing a moment to “upsell” premium services.
7. White-Label Solutions
Other event organisers can also make event management apps revenue by offering white-labelled solutions. It is a process of licensing a customisable version of the app other businesses can use under their own branding. This is an attractive option for scalable income as it does not charge setup fees or licensing costs.
8. Live Streaming & Virtual Events
Live streaming is a popular feature in event management apps, as virtual events have been rising. Those unable to attend in person pay to receive access to live streams of keynotes, sessions, or performances. Another way to increase reach and revenue is to run hybrid events where you combine in-person and virtual components, charging physical attendees a different price than virtual attendees.
9. Data Insights and Analytics
Often times, event organisers need to understand attendee behaviour and engagement patterns in detail. Part of the offering is data analytics as a premium service in the app that helps organisers make better decisions on future events and generate additional revenue for the app owner.
10. Affiliate Marketing
By doing this, the app can become an affiliate marketer by partnering with relevant businesses (e.g., hotels, transportation services) to earn from commissions and link users to brand-related services once they book through affiliate links. Just as much as it increases revenues themselves, it brings added value because it gives the attendees other easy options. An event management app can bring multiple avenues of revenue into the fold and boost user experience and value to both attendees and organisers through the combination of one or more of these models.
There are many ways that you can make money from developing an event management app. Below are some of the most effective revenue models and strategies for monetising such applications: