As social distancing is becoming the new normal, more and more businesses are making their events and services available online. This is in order to still reach their current customers along with potential new customers. As a result, more companies are building features to help them do so.
Last week, Head of Facebook App Fidji Simo, announced that Facebook would be launching the option for Page owners to create an online event which allows them to set a price, promote and host the event. Paid online events will offer Page owners a new way to monetise their online event through a one-off payment, that is collected when guests register to attend. This will make it easier for millions of people and small businesses to make money from Facebook.
Facebook further announced that in addition to this, for the next year, they will not be collecting any fees from online paid events. It has been found that only 19% of businesses have received or are receiving any financial help during lockdown. Therefore, Facebook has stated that they would like to contribute in supporting businesses by not charging at this time. This will allow businesses to keep 100% of revenue that will be made through the online event
Also, what makes this offer unique is that all the promotion, payments and hosting is done in facebook. This means that if a business wants to host an online event, they can monetise an event via Facebook and can target Facebook users with advertising that is local to them or announce the event to all the followers on their page.
With currently working with a lot of events such as Dynamo North East and Bring It On NE, who have had to quickly make the decision to convert their events into online events from the unfortunate effects of the coronavirus, this new feature that facebook has launched, will be a great tool in order to help not only these businesses but many others to still generate money without the need of an in-person event. We are extremely excited for the opportunities this feature will bring during Covid-19 and post Covid-19 to help monetise businesses online events. Why not get in touch now, to see how this feature can help you.