There are many tools you can use to host your virtual event or virtual show. Some of the leading tools out there are:

• Unisfair
• InXpo
• VirtualVu
• On24

But I was floored to learn how much it costs to use their platform to host your virtual event. According to Masthead Online:

“Running a virtual event with Unisfair requires a minimum investment of $25,000 (U.S.).”

Yikes! That’s typically how much I generate in revenues for the event. I would break even if I were to use these platforms to host my virtual event.

Now don’t get me wrong. These virtual event platforms are gorgeous. Touring these virtual event platforms is like being on a tradeshow floor. They are just stunning to see. When I spoke at eComXpo in 2006, I was blown away at how clever and intuitive the platform was. I don’t know which virtual event platform eComXpo used, but I felt as if I were in a room speaking to people.

The drawback is that you’ll have to spend a year inviting sponsors to exhibit at your virtual event in order to cover your costs. Attendee admissions just won’t cover it. Plus, you’ll have to guarantee your sponsors a certain number of leads. Unless you’re in the business of hosting virtual events, this can be an expensive and time consuming exercise just to help cover the cost of “renting” a virtual event platform.

Over the years, I’ve used two things to host my virtual events:

• A conference bridge line that can handle 200 callers or more
• A webinar platform that can handle up to 1000 connections

That’s it. Both are inexpensive options and help me focus on delivering great content to attendees. Yes, there are certainly drawbacks to each, most notably, I won’t have exhibitor booths for sponsors. However, I’m already managing affiliates, speakers, attendees and alumni (those who attended my event in the past) and managing these 4 groups is tiring enough.

So don’t get overwhelmed by the cost of using a virtual event platform. I would encourage you to start off with an inexpensive tool first than to see you miss out on such a lucrative revenue stream.