As part of the broader pressure on virtual event hosting, which has become more focused in the last 18 months, LinkedIn will soon begin testing paid events, which could provide new opportunities for engagement and monetization on a professional social network.
The new element was first reported by TechCrunch, which was sent advice on the new code behind LinkedIn that indicates an inactive element of paid events. LinkedIn has since validated the test, explaining to TechCrunch that:
“Amid the changing world of work and the transition to an almost remote workforce, LinkedIn Events has seen rapid growth, with 21 million people attending LinkedIn 2020. We continue to learn from member and customer feedback and try new ways to improve the experience. As part of this, we are exploring payment options in the Events product based on event organizer feedback. ”
This could be a great boon for event organizers in the industry, many of whom have lost huge amounts due to COVID constraints that have forced the cancellation of their regular program.
According to research, the U.S. trade show industry was worth about $$ 15.58 billion in 2019, before falling to $ 5.6 billion in the 2020 period affected by the COVID-19 virus. The industry is now gradually recovering, and the suppression of the vaccine has enabled the slow continuation of physical events. Yet, even then, many are still considering their options, with a forced transition to virtual events highlighting new and cheaper options for similar shop window and screen features.
This will not be for everyone, and there is a clear benefit for aspects of the physical networking of such events. But, as LinkedIn notes, 21 million people attended virtual events on its 2020 platform.
If people gain a good experience from it, and there is a way for brands and organizers to make money from it, it seems like it could be a popular option.
The plugin would also add to LinkedIn to extend the incentive to monetize creators.
Like all platforms, with digital creators now becoming their own industry, LinkedIn is exploring new ways to attract the best talent and increase usage and engagement by hosting their work. The platform added ‘Creator Mode’ back in March as a way to help creators better present their work, while it recently launched its new $ 25 million Creator Accelerator program. “to help creators build their audience and amplify their voice”.
The ability to host events with tickets could be another part of this, and creators could then share paid, virtual features with their audience on LinkedIn, providing another way to monetize their work.
Given that Facebook and Twitter also test events with tickets, in different forms, it makes sense for LinkedIn to try the same, with the professional focus of the platform, again, leaning on the fair’s audience, who are willing to spend on professional development.
LinkedIn has not yet provided any information on testing the live option, but we will keep you posted on any progress.
Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.