LinkedIn will soon start testing paid events, it is a part of its broader push on hosting virtual events, which has become a bigger focus over the past 18 months.
LinkedIn’s paid events could provide new opportunities for monetization and engagement on the professional social network.
Moreover, the new element was first reported by TechCrunch, which had been sent a tip on new code in the back-end of the LinkedIn app which indicated an inactive, paid events element. LinkedIn has since confirmed the test, explaining to TechCrunch that:
“Amid the changing world of work and transition to a nearly all-remote workforce, LinkedIn Events has seen a surge in growth, with 21 million people attending an Event on LinkedIn in 2020. We continue to learn from member and customer feedback and test new ways to improve the experience. As part of this, we are exploring options for payment in the Events product based on feedback from event organizers.”
As we see, that could be a huge boon for industry event organizers, many of whom have lost huge amounts because of the COVID-19 restrictions forcing the cancellations of their regular programming.
Based on research, the trade show industry in the US was worth some $15.58 billion in 2019, before dropping to $5.6 billion in the COVID-impacted 2020 period. Additionally, the industry is now gradually recovering, along with the vaccine push enabling the slow resumption of physical events.
However, till now, many are still considering their options, with the forced move to virtual events highlighting new, as well as cheaper possibilities for similar showcase displays and functions.
Also, that won’t be for everyone, and there is an obvious benefit to the physical networking aspects of such events too.
However, LinkedIn notes, 21 million people attended virtual events hosted on the platform back in 2020.
That means if people are getting a good experience from such, and there is a way that brands and organizers can make money from the same, looks like it could be a popular option.
Also, the addition would add to LinkedIn’s broadening creator monetization push.
Just like all social platforms, with digital creators now becoming an industry of their own, LinkedIn’s exploring new ways in order to attract the best talent, as well as boosting usage and engagement by hosting their work.
Additionally, LinkedIn added “Creator Mode” back in March as a means in order to help creators better showcase their work, while it also recently launched its new $25 million Creator Accelerator Program “to help creators build their audience and amplify their voice”.
Also, being able to host ticketed events could be another part of this, along with creators being able to share paid, virtual functions with their LinkedIn audience, providing another avenue to monetization of their work.
Aside from LinkedIn’s paid events, Facebook and Twitter are also testing ticketed events, in different forms, it also makes sense for LinkedIn to also try out the same thing, with the professional focus of the platform, again, leaning into that trade show audience, that’s willing to spend on professional development.
However, LinkedIn has not provided any information on a live test of the option yet.