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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:

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  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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82% of Organizations Concerned about AI Risks Even as Adoption Accelerates – Survey Reveals

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At its recent Cyber Security Weekend for the Middle East, Turkiye and Africa (META) region Kaspersky shared the results of a global study conducted by its internal research center which surveyed 1,800 IT and cybersecurity decision-makers and specialists from organisations across 18 countries and multiple industries.

The report shows that the pace of AI integration across organisations is rapid, despite associated risks. The company’s experts stressed that while AI adoption delivers clear efficiency gains, it must be accompanied by robust cybersecurity solutions, well-defined internal procedures, and comprehensive employee education programmes.

The report highlights a clear organisational preference for AI-enhanced technology: 68% of respondents said they would recommend a solution with AI features built in, while a mere 5% indicated they would prefer to avoid AI-enabled tools. This overwhelming endorsement underscores how deeply AI has embedded itself as a value driver across the modern enterprise.

AI has become a mainstream productivity tool spanning many business functions. The global survey findings confirm that employees across departments are already relying on AI tools for a wide range of everyday tasks, including: data analysis & visualisation (54%), project management (49%), search for information (47%), department-specific tasks (46%), text generation and editing (41%).

While organisations recognise the tangible benefits AI tools bring – including improved process efficiency and enhanced quality of deliverables – they also see the associated dangers. 82% of respondents voiced concerns about the risks AI poses to their organisation. These concerns are grounded in real-world experience.

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Among the 87% of organisations worldwide that faced a cyber incident in the past year, 13% reported that they had experienced threats stemming specifically from AI-related vulnerabilities.

Notably, 74% of respondents believe that these risks can be effectively mitigated through employees’ responsible behaviour — pointing to the critical importance of security awareness and training in the AI era.

“The speed at which organisations are embracing AI is remarkable, but it must be matched with an equally strong commitment to security. We are already seeing a growing range of threats directly tied to AI adoption – whether it’s malware camouflaged as popular AI tools, vulnerabilities introduced through unsecure vibecoding, or leaked access credentials to corporate AI platforms and malicious skills by AI agents.

Managing these risks requires a holistic approach: the right technology, well-defined procedures, and a security-aware workforce,” comments Brandon Muller, senior security consultant for the META region at Kaspersky.

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How Temu Helped a Madagascan Vanilla Family Business Sell Direct to Consumers Across Europe

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Malagasy Vanilla has transformed its decades-old wholesale business by embracing direct-to-consumer sales through Temu, enabling the family-run company to reach customers in 14 European markets while significantly reducing logistics costs.

How Temu Helped a Madagascan Vanilla Family Business Sell Direct to Consumers Across Europe

For years, premium Madagascan vanilla supplier Malagasy Vanilla sold exclusively to restaurants, bakeries and wholesalers because the cost of shipping a single pack to individual customers often equalled the value of the product itself. That changed after the company joined Temu’s Local Seller Program in November 2025.

The Belgian-based business, which sources high-quality vanilla from Madagascar, has leveraged Temu’s logistics network to cut domestic shipping costs by nearly half through a partnership with Belgian postal operator Bnode. The move has enabled the company to enter the retail market for the first time and quadruple its sales within four months.

According to Belinda Rabenandrasana, co-Chief Executive Officer of Malagasy Vanilla, Temu has opened up an entirely new customer segment for the company.

“Temu opened a new avenue for us,” she said. “We were finally able to explore selling to individuals.”

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The platform now contributes between five and 10 per cent of the company’s overall revenue.

Expansion into 14 European Markets

Malagasy Vanilla is among businesses participating in Temu’s Local Seller Program, launched in Europe in 2024 to help local merchants expand beyond their domestic markets.

Through partnerships with more than 150 logistics providers across Europe—including Bnode in Belgium, La Poste in France and DHL Group in Germany—Temu offers sellers access to affordable shipping and delivery infrastructure without requiring major investment in logistics.

After successfully establishing direct-to-consumer sales in Belgium, Malagasy Vanilla expanded into 14 European countries, including Germany, France, Spain and Poland.

Rabenandrasana said the logistics support, competitive shipping rates and seller assistance provided by Temu made the expansion possible.

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“Without Temu and its partnership with Bnode, it would have been very difficult for a small business like ours to start selling directly to consumers,” she said.

She added that Temu also assists sellers in managing regulatory requirements such as the European Union’s Extended Producer Responsibility (EPR) compliance, making cross-border operations easier for small businesses.

Three Generations of Vanilla Expertise

Malagasy Vanilla traces its roots to three generations of the Rabenandrasana family in Madagascar’s vanilla industry.

Belinda’s grandfather began trading vanilla locally, while her father expanded operations across Madagascar. She launched the company’s international business in 2017, supplying premium Madagascan vanilla to European restaurants, pastry shops and food wholesalers before establishing operations in Belgium in 2023.

The company partners with growers and producer associations in Madagascar, where between 20 and 40 workers oversee the six- to 10-month curing process that transforms green vanilla pods into premium black vanilla.

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Operations in Belgium focus on packaging, quality assurance and distribution.

Customer Reviews Drive Growth

Under its Lavani brand, Malagasy Vanilla sells gourmet-grade whole vanilla pods targeted at both professional chefs and home baking enthusiasts.

Rather than relying heavily on paid advertising, the company has benefited from Temu’s product discovery tools and customer reviews, helping the niche brand gain visibility organically.

According to Rabenandrasana, strong customer feedback has played a significant role in increasing traffic and boosting sales.

The brand currently maintains a customer review rating exceeding 99 per cent on the platform.

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Future Plans

Looking ahead, Malagasy Vanilla plans to expand its European footprint further by establishing a warehouse in France and increasing sales across the continent.

The company is also developing new products, including vanilla extract and vanilla sugar, while planning to open a physical retail and production facility in Belgium later this year.

In addition, it intends to launch a social-impact initiative aimed at supporting vanilla-growing communities in Madagascar.

Reflecting on the company’s evolution, Rabenandrasana said the business continues to build on her family’s legacy.

“My grandfather worked locally, my father expanded nationally, and now we are building internationally,” she said.

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FG Must Consider Data Security, Sovereignty in 3MTT Initiative – Stakeholders

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Stakeholders in Nigeria’s digital economy have urged the Federal Government to review its partnership with global recruitment platform Hello.cv under the 3 Million Technical Talent (3MTT) programme, citing concerns over data security, digital sovereignty and the country’s “Nigeria First” policy.

FG Must Consider Data Security, Sovereignty in 3MTT Initiative – Stakeholders

3MTT

The concerns follow the Federal Ministry of Communications, Innovation and Digital Economy’s announcement on May 6 of a 10 million-dollar partnership with Hello.cv aimed at increasing the global visibility of Nigerian technology professionals.

Under the initiative, 20,000 selected 3MTT fellows will receive a global professional profile package, including an Artificial Intelligence (AI)-powered job search agent, a professional curriculum vitae (CV) writer and a personal .cv domain, valued at 500 dollars per participant.

While stakeholders acknowledged the programme’s potential to improve global employment opportunities for Nigerian tech talent, they expressed concerns about the implications of hosting participants’ digital identities and data on a foreign domain.

Chief Executive Officer of Cyberchain and Global Digital Economy Strategist, Engr. Jude Ozinegbe, said the arrangement raised important questions about data ownership and jurisdiction.

According to him, registering domains under an entity outside Nigeria gives that entity a degree of control over activities associated with the domain.

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“When you register your domain under a different entity outside your jurisdiction, that entity will have access to whatever is happening within that domain.

“In the long run, the Nigeria Data Protection Commission (NDPC) may have to examine the agreement and assess the security implications of such domain ownership,” he said.

Ozinegbe urged the NDPC to review the security protocols employed by Hello.cv to ensure compliance with Nigeria’s data protection regulations.

Also speaking, Ugonma Egwuatu of ECAM Global Services, an information and communications technology and data protection firm, said the security of data belonging to 20,000 fellows should be of significant interest to regulators.

She noted that while the ministry had the authority to determine how the programme was implemented, there was a need for greater transparency regarding the handling of participants’ personal information.

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“The NDPC requires its registered Data Protection Compliance Organisations (DPCOs) to subscribe to the .ng domain.

“If a government ministry permits trainees to operate on a foreign domain, then the commission should examine the arrangement because we are dealing with the data of 20,000 Nigerians,” she said.

Egwuatu also called for clarity on how data generated through the platform would be processed, stored and protected.

“There should be explanations regarding the backend. What are they doing with the data of people who visit these sites? Why use a foreign domain instead of the .ng domain? These are legitimate questions that deserve answers,” she said.

She added that government should ensure appropriate third-party agreements and safeguards were in place before implementing such initiatives.

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On his part, Chief Executive Officer of DNS Africa, Dr. Adebunmi Adeola Akinbo, said the objectives of the programme could still have been achieved while leveraging Nigeria’s country code top-level domain.

According to him, Hello.cv could have registered a hello.cv.ng or hellocv.ng domain in collaboration with the Nigeria Internet Registration Association (NiRA).

“The .ng domain can conveniently accommodate such a platform. If Hello.cv intends to onboard millions of Nigerians, it can work with NiRA to create a local domain structure.

“That way, the investment remains within Nigeria, strengthens the digital economy and supports local internet infrastructure,” he said.

Akinbo argued that excluding the .ng domain from the initiative undermined Nigeria’s digital identity and sovereignty.

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“As good as the programme may sound, leaving the .ng domain outside this engagement and taking Nigerian data outside the country’s digital jurisdiction is not the best approach,” he said.

Also commenting, Founder and Chief Executive Officer of Precise Financial Systems Ltd., Yele Okeremi, stressed the importance of ensuring that investments in Nigeria’s digital economy create long-term domestic value.

According to him, building a sustainable technology ecosystem requires more than developing skilled professionals.

“Investment, particularly in technology and the knowledge economy, is not just about having smart people.

“It is also about who owns the infrastructure and who ultimately benefits from the value created. Nigeria must ensure it retains as much of that value as possible,” he said.

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Similarly, Chief Executive Officer of the Internet Exchange Point of Nigeria (IXPN), Muhammed Rudman, described the use of foreign domains for a government-sponsored initiative as inconsistent with efforts to promote Nigeria’s digital economy.

“I don’t know where this idea came from, but it is unpatriotic for Nigerian companies funded by Nigerian resources to adopt .cv domains instead of .ng.

“Global companies such as Google register country-specific domains like google.ng when operating locally. Registering 20,000 additional .ng domains would improve Nigeria’s online visibility and strengthen the local internet ecosystem,” he said.

Rudman urged the Federal Government to support indigenous digital infrastructure by encouraging the use of the .ng domain.

The 3 Million Technical Talent (3MTT) programme is a flagship initiative of the Federal Ministry of Communications, Innovation and Digital Economy aimed at equipping Nigerians with globally relevant digital skills.

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The programme provides free training in areas including software development, artificial intelligence, cloud computing, cybersecurity, data analytics, machine learning, animation, DevOps and user interface/user experience design through a hybrid learning model.

Stakeholders maintained that while the partnership with Hello.cv could expand international employment opportunities for Nigerian technology professionals, greater attention should be paid to safeguarding the country’s digital assets, promoting local internet infrastructure and ensuring compliance with Nigeria’s data protection framework.

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