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E-Business

Event Goldmine: Strategies for a Lucrative 2023 Celebration Circuit

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Reuben Kalu
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By Reuben Kalu

As the world embarks on a new year, the enthusiasm for in-person events is palpable. After facing limitations and uncertainties, people are eager to reconnect, learn, and celebrate together.

Event Goldmine: Strategies for a Lucrative 2023 Celebration Circuit

Reuben Kalu

This article delves into the evolving landscape of event monetization, offering insights and strategies for individuals and businesses looking to capitalize on the renewed interest in gatherings.

  1. The Resurgence of In-Person Events:
  2. Post-Pandemic Dynamics:
  • Reflecting on the impact of the pandemic on the events industry.
  • The psychological shift and increased value placed on in-person interactions.
  • Emerging trends in event preferences and attendee expectations.
  1. Diverse Event Opportunities:
  • Conferences and conventions.
  • Workshops and training sessions.
  • Festivals and entertainment events.
  • Social and networking gatherings.
  1. Understanding Your Audience:
  2. Targeting the Right Demographics:
  • Analyzing your event niche and identifying target demographics.
  • Conducting market research to understand attendee preferences.
  • Utilizing data analytics to tailor events to audience expectations.
  1. Building Community Engagement:

Leveraging social media platforms to create pre-event buzz.

Encouraging user-generated content and participant interaction.

Establishing a sense of community to foster long-term engagement.

III. Event Monetization Strategies:

  1. Ticket Sales and Pricing Models:
  • Implementing tiered ticket pricing for different attendee experiences.
  • Offering early bird specials and exclusive packages.
  • Exploring dynamic pricing based on demand and availability.
  1. Sponsorship and Brand Partnerships:
  • Crafting compelling sponsorship packages.
  • Identifying and approaching potential sponsors aligned with your event.
  • Leveraging brand partnerships for mutual promotion and financial support.
  1. Merchandising and Souvenirs:
  • Designing branded merchandise to enhance event memorability.
  • Setting up on-site or online merchandise stores.
  • Utilizing limited-edition items for exclusivity and increased demand.
  1. Upselling and Add-Ons:
  • Offering premium experiences and VIP packages.
  • Providing additional services or perks for an extra fee.
  • Creating an à la carte menu of add-on options.
  1. Leveraging Technology for Monetization:
  2. Virtual and Hybrid Events:
  • Expanding reach through virtual attendance options.
  • Monetizing virtual events through pay-per-view models.
  • Utilizing virtual sponsorships and digital advertising
  1. Event Apps and Platforms:
  • Integrating in-app purchases and upgrades.
  • Utilizing push notifications for targeted promotions.
  • Enhancing attendee experience through interactive features.
  1. Live Streaming and Content Monetization:
  • Monetizing live streams through subscription models.
  • Offering access to exclusive event content.
  • Exploring pay-per-view options for virtual attendees.
  1. Post-Event Revenue Streams:
  2. Content Licensing and Repurposing:
  • Negotiating licensing agreements for event recordings.
  • Repurposing event content for on-demand access.
  • Creating online courses or webinars from event material.
  1. Membership and Subscription Models:
  • Establishing a membership program for ongoing engagement.
  • Offering exclusive perks and content to subscribers.
  • Building a loyal community through recurring revenue.
  1. Feedback and Analytics for Improvement:
  • Gathering attendee feedback for future event enhancements.
  • Analyzing event data to identify successful revenue streams.
  • Continuously iterating and improving monetization strategies.
  1. Legal and Ethical Considerations:
  2. Transparent Pricing and Policies:
  • Communicating clearly with attendees about pricing structures.
  • Establishing refund and cancellation policies.
  • Ensuring compliance with consumer protection laws.
  1. Data Privacy and Security:
  • Implementing robust data protection measures.
  • Clearly communicating data usage policies to attendees.
  • Complying with relevant data privacy regulations.

The year 2023 presents a promising landscape for event organizers to capitalize on the pent-up demand for in-person gatherings.

By understanding the diverse avenues for event monetization, leveraging technology, and prioritizing attendee experience, individuals and businesses can not only create memorable events but also establish sustainable revenue streams. As the events industry continues to evolve, the key lies in adaptation, innovation, and a deep understanding of the changing dynamics in this dynamic and exciting space.

 


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E-Business

Galaxy Backbone, Rural Electrification Agency Commit to Deepening Digital and Energy Access Across Nigeria

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In a major step towards deepening Nigeria’s digital and energy infrastructure, Galaxy Backbone Limited (GBB) and the Rural Electrification Agency (REA) have signed a strategic Memorandum of Understanding (MoU) at a brief but impactful ceremony held in Abuja.

The MoU signals a collaborative effort between both agencies to enhance Nigeria’s digital transformation agenda by integrating reliable energy solutions with cutting-edge ICT infrastructure, especially in higher institutions, Government institutions, underserved and rural communities across the country.

Speaking at the event, the Managing Director/CEO of Galaxy Backbone, Professor Ibrahim A. Adeyanju, described the partnership as “a landmark moment in Nigeria’s journey towards a digitally empowered, sustainably powered, and inclusively connected nation.”

“This partnership exemplifies what is possible when two visionary government institutions come together, united by shared goals and driven by the desire to improve the lives of Nigerians everywhere,” he said.

Professor Adeyanju emphasized that while Galaxy Backbone’s core mandate is to provide secure digital infrastructure that powers government operations, reliable and sustainable energy particularly in rural areas is essential to fully actualize digital transformation.

Major highlights of the MoU include:

  • Solar electrification of some of GBB’s Metro Fibre sites in Abuja by the REA.
  • Powering Hostels of Higher Institutions across the country through the Fibre to Hostel Project being driven by the Federal Ministry of Communications Innovation and Digital Economy (FMCIDE).
  • Support for the rollout of the 774 Local Government Digitization Initiative, beginning with six pilot Local Government Areas.
  • Provision of LANs, access points, cloud services, colocation infrastructure, and temporary connectivity to enhance REA’s operational facilities nationwide.

The Managing Director of the Rural Electrification Agency Mr Abba Aliyu, in his remarks, expressed optimism that this collaboration will further bridge the digital and energy divide across Nigeria. He noted that by combining REA’s achievements in expanding energy access with GBB’s robust ICT backbone, both agencies are poised to create lasting impact across governance, education, healthcare, and entrepreneurship.

This partnership is also in direct alignment with the Renewed Hope Digital Transformation Agenda of President Bola Ahmed Tinubu, GCFR, which envisions an inclusive digital economy powered by innovation and sustainable energy.

The ceremony was attended by top management from both organizations as well as members of the media.

With today’s signing, Galaxy Backbone and the Rural Electrification Agency have set the tone for stronger, smarter, and more inclusive public service delivery powered by strategic inter-agency collaboration.


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NIMC Says NIN Services Back Online

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National Identity Management Commission (NIMC) has announced the restoration of its National Identification Number (NIN) verification services nationwide.

NIMC Says NIN Services Back Online

This, according to the commission, follows the completion of a system maintenance exercise.

In a statement issued on Friday, the NIMC confirmed that all previously disrupted services have resumed.

“NIMC wishes to inform the general public that the recent technical maintenance has been completed and all services have been restored,” the statement read.

The NIMC urged Nigerians seeking to enroll for NIN to visit the its official website to locate the nearest enrollment centers.

The agency also encouraged individuals to make use of its self-service portal for tasks such as data modification, including name changes.

To further ease the verification process, the Commission recommended downloading the NIMC NameAuth app (oath.app) from the Google Play Store or Apple App Store for quick and secure NIN authentication.

NIMC expressed appreciation for the public’s patience during the service disruption, which had impacted banks, telecom providers, and government agencies that rely on NIN verification for their operations.

 


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Report Reveals African Organizations Dangerously Overestimating Cyber defences

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Many businesses are overestimating their defence against cyber attacks, which creates a significant human risk blind spot. A new KnowBe4 report exposes a worrying disconnect between what leaders think about their cyber security readiness and what employees experience.

According to the KnowBe4 Africa Human Risk Management Report 2025, based on insights from cyber security decision-makers across 30 African countries, despite high awareness, a critical gap exists in turning that awareness into actual readiness and resilient behaviour.

Key findings from the KnowBe4 Africa Human Risk Management Report 2025:

Confidence vs awareness: While cyber security awareness is high, leaders express uncertainty about their workforce’s ability to act on that awareness. Many feel employees may overestimate their capabilities in recognising, reporting and mitigating threats.

The need for adaptive and personalised security awareness training: Many companies fail to personalise security awareness training to specific roles or risk exposures.

Widespread BYOD usage: A large percentage of employees (between 41% and 80%) use their personal devices for work.

AI policy development is lagging: Many companies (46%) are still in the process of developing policies for using AI tools in the workplace.

Regional variation: Southern Africa trains more, East Africa governs AI better and West/Central Africa sees the most human-related security incidents.

This gap is significant because Africa has become an attractive target to cyber criminals, especially those that launch AI-powered attacks. A LexisNexis Risk Solutions study found 60% of South African organisations have seen an increase in AI-facilitated financial crime – above the 56% global average.

Kehinde Popoola, regional manager and key representative for West and East Africa at Rubrik, said digital transformation is gaining momentum in Africa and companies are more exposed to cyber risk. The Rubrik executive adds that amid an increase in threats, it is crucial that organisations adopt an assumed breach mindset.

The KnowBe4 research shows that cyber security preparedness and the actual structures required to support secure behaviour seem misaligned.

The report highlights that just 10% of cyber security leaders are fully confident that staff would report a phishing attack or other cyber threat, despite rating employee security awareness of cyber threats at four out of five or higher.

There is also a significant perception gap between decision-makers and general employees in Africa regarding security awareness training, with 68% of leaders believing that training is tailored to roles, compared to only a third of employees feeling adequately trained.

KnowBe4 asserts that many organisations only conduct annual or biannual training that is too generic to effectively change behaviour, contributing to uncertainty about its effectiveness.

According to another report, the KnowBe4 African Cybersecurity and Awareness Report 2025, which focuses on end-user based responses, only 43% of African respondents felt confident in their ability to recognise a cyber threat, and just one in three believed their security awareness training was adequately tailored to their role. This comparison suggests the development of a dangerous perception gap in many organisations.

“There’s a disconnect here – between what leaders think is happening and what employees are actually experiencing,” says Anna Collard, SVP content strategy and evangelist at KnowBe4 Africa. “The data shows that without procedural and cultural follow-through, awareness simply doesn’t translate into readiness.”

“The continent’s cyber security posture may be more confident than it is truly resilient,” Collard adds.

 


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