How Nonprofits Are Using Virtual Events to Increase Revenues

According to Karin Kimbrough, Chief Economist at LinkedIn, nonprofits were among the hardest hit sectors in 2020 due to their reliance on in-person engagement.

Yet the story doesn’t stop there.

Organizations that embraced the right technology saw an unexpected boost in revenue, a silver lining amid the challenges. By shifting to virtual events in place of in-person gatherings, nonprofits found new ways to raise awareness, foster meaningful connections, and generate funds for their causes. Curious how? Keep reading.

1. Virtual events help lower costs

While the event takes place online, there is no need for a separate budget for travel and accommodation. Not just that — costs for venues, food and beverages, parking spaces, and every other physical aspect that brings your event together is fully eliminated in case of a virtual event. Therefore, nonprofits have an opportunity to drive more revenue by spending less.

2. Increased reach for potential donations and grants

Virtual events open you up to the entire world and not just your own county. Being accessible from any part of the world and on any device gives your nonprofit and its cause tremendously increased visibility. So, while you get to bring down all kinds of geographical barriers, you are now able to attract and invite global donors and governments to participate and make their contributions.  

3. Donation based participation

Just as in a physical event, a virtual event also allows you to add a fee to each registration. This approach unfolds two kinds of opportunities:

Visitors pay a certain fee in order to register for your event. This acts as their fundraising ticket and allows them access to your event.

Exhibitors and sponsors can be offered various packages by your organization. These packages will be based on the kind of visibility they require at your event. Each package would charge them a certain amount and will qualify them towards certain privileges. 

You might be interested in: Virtual Fundraising Ideas for Nonprofits

4. Accessibility and inclusivity

Virtual events are a great space for individuals with disabilities and impairments to find equal and relevant opportunities. Not only can your event be accessed from the comfort of their home but can also consist of various accessibility features that make it easier to navigate. Therefore, gathering a global and inclusive community at your virtual event and maximizing revenues.

Learn how Cornell University made use of top-of-the-line accessibility features at their virtual resource fair.  

Way Forward: Virtual events for nonprofits

At vFairs, we’re actively working on supporting the nonprofit industry through new and improved virtual event features. After all, it’s no surprise that virtual events are the way forward for the industry, allowing greater reach and a positive outcome with technological inclusion. 

Browse our solutions to see what types of events can help you save on costs, increase revenues, and leave a lasting impression for your cause!