Building a Community Based Events Business

Digital and hybrid events are now a long-term part of the event mix, but the shift to digital has made many organisers question their model. When the value you add in providing learning, networking and connecting an industry is de-coupled from the particular ‘moment in time’ of a physical event, how can you maintain market engagement, create barriers to entry for competitors and demonstrate continuing value on digital platforms?

Becoming a centrepoint for your community isn’t an easy pivot from the traditional event business model, but it has been proven to deliver rewards in terms of stickiness, profitability and engagement.

Join our training to find out how a community based approach to your customers can drive a more resilient and successful business model as well as opening up new routes to monetisation.

5 Minutes with Community Based Events Trainer Frances Rose

Key take aways

Build your niche
Although it may seem counter-intuitive not to chase volume, the value of a highly targeted, well engaged audience has never been better appreciated.

Keep engagement levels high
A community needs constant sustenance to work and grow. Engagement based around infrequent events won’t work – you need a content and engagement strategy to keep interest high.

Offer more than you have to
This doesn’t mean under-valuing your offering, it means valuing your community enough to want to engage and contribute in non- monetisable ways.

Earn the ‘right to play’
If you’re asking your community for their time and money, they need to trust that you have the expertise and committment to deliver what they really need.

Work out your monetisation model
From subscriptions to branded partnerships, brokerage fees to consulting – monetising your community will be a fine balancing act between your output and their needs.

Outline

Segment 1: What is a community and can it work for you?

• Why are community business models so popular at the moment?
• Distinguishing a community business model from other routes to market and identifying the fundamentals which will drive success for your business
• The key elements needed for community: the roles and processes you need to consider before embarking on this model
• What expectations do audiences have for a community
• The ‘building blocks’ of community – critical elements which will deliver community success
• Communities which work and case studies on successful pivots to a community model
• There is no one ‘community’ model: understanding your market and your resources to determine the best fit for your business

Segment 2: Building and engaging your community

• Defining and growing your expertise
• The importance of niche and market connection
• The role of advocates and how to build loyalty and advocacy in your community
• Mapping personas: understanding market engagement for your community model
• Balancing community with (and incorporating community into) your face to face and digital events mix
• The processes and systems you need consider to develop to drive a seamless customer interface
• An overview of community platforms and what they can offer to you

Segment 3: Content and monetisation

• Community isn’t just content… but getting your content right will power your community
• Finding the right fit content and communications to drive value for your market
• Who generates content? Supporting your team and working with third parties
• Earning the ‘right to play’ within your market
• Examples of how communities have been monetised and how community-focussed businesses accelerated during the pandemic
• The role of good data management in community
• How can communities be monetised? From increased event engagement to subscriptions, monetising your data and connections to XaaS