The global pandemic caused by COVID-19 (Coronavirus) has put the live, in-person events economy on hold. With social distancing mandates and subsequent live event cancelations and postponements, some event creators are struggling to see a light at the end of the tunnel.Â
While many events are moving online, not all creators have the resources to make overnight changes to their business model, even if they are working towards long-term solutions.Â
While these changes will take time, there is a powerful way to retain cash flow while maintaining valuable connections with your attendees â€” gift cards.Â
s10ÏÂ×¢Æ½Ì¨ and Gift Up! to cover fees for up to $50M of new gift cards
Whether you have a digitally-suitable event or not, gift cards are a great way to encourage your loyal community to support your future events, and give you a little financial support. To help facilitate this, s10ÏÂ×¢Æ½Ì¨ and Gift Up! have teamed up to offer a flexible new program during this time of uncertainty that enables creators to issue and sell gift cards to fans. And because every dollar counts, s10ÏÂ×¢Æ½Ì¨ will cover the gift card fees for up to $50M of new gift cards (up to $50K per creator) until June 30th, 2020.Â
How the Gift Up! integration can help you generate revenue
There are a few different ways you can use this program:
Our first suggestion is to use this tool as an alternative to traditional refunds. Make sure it is clearly offered as an optional refund alternative, not a mandatory policy change. Show your attendees that you are willing to be flexible, and it may inspire them to help you out, too.Â
Another way is to reach out to past attendees and encourage them to buy gift cards to your future events. We’re all anxious to start gathering again and your loyal fans deserve something to look forward to.
Check out the Gift Up! app Â
s10ÏÂ×¢Æ½Ì¨ is here to help
With the live event industry in flux, weâ€™re working hard to create tools that will simplify your work as a creator and help you confidently navigate this unprecedented time.
Gift cards are a great way for creators to stay connected to their attendees while retaining and growing revenue. And we donâ€™t intend to stop here.Â
Need more support? Weâ€™re here to help. Check out these COVID-19 outbreak resources on event cancellations, Small Business Administration loans and more. And keep in mind: with some innovation, you can still run digital events that have the same impact as in-person ones.