Virtual fairs are on the rise. Given the advantages of virtual fairs over traditional physical fairs for certain industries, this rising popularity is not surprising. However, don’t think of these online events as competition with your traditional fairs, but rather a complimentary service that you can offer your clients. Nothing beats the face-to-face interaction of a traditional fair, but with an online fair you can reach new audiences, reduce costs, and gather user statistics at a level unthinkable in a traditional fair.
But do they actually make money for you as a job fair organizer? The answer is…yes if done correctly. The key to making a virtual fair profitable is knowing how to leverage the benefits of virtual to your advantage.
Virtual job fairs have a number of different potential revenue streams. Furthermore, the cost of organization and attendance are much lower than for traditional events, making them potentially a very profitable alternative. Let’s take a look at some of the main ways you can generate income as a virtual fair organizer.
1. Exhibitor Booths
Like traditional job fairs, renting booth space for exhibitors is the main source of income for virtual job fairs. The key is developing the right sales strategy. Configure different categories of booths, segment potential exhibitors, offer VIP booths or a showroom for a select exhibitor, and get your sales team on board with training and incentives to maximize the number of recruiting firms at your show. An effective marketing campaign that attracts lots of qualified candidates will make your fair even more attractive to recruiters.
2. Advertising Space
Just as the opportunities and reach for exhibitors of a virtual job fair are global, the same is true for advertisers. Take advantage of the traffic generated by your virtual fair to sell virtual advertising space to marketers in the form of banners, logo placement, and sponsored webcasts. Again, the more prestigious the companies and candidates participating in your fair, the more advertisers will be willing to pay to be there.
3. Big Data
The last major source of revenue for your virtual career fair has to do with leveraging big data generated by the fair. More so even than a traditional event, virtual and mobile fairs create incredible opportunities to generate big data by tracking user behaviour. Access to a potentially greater number of CVs, filtering and segmenting candidates, and real-time statistics on visitor interaction with stands, meetings, webcasts and advertisers can provide a wealth of data that is highly valued by companies. You can offer this data to fair exhibitors as well as outside recruiters.
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