Instead of a speaker talking to attendees, without any “hands-on” interaction, businesses may also offer workshops or classes.
Imagine you are trying to grow business for a small yarn shop. You want to bring people into the shop to increase sales. You could bring in a guest speaker and offer a free class. Then, you can give students a limited-time discount to increase your sales.
Perhaps you offer them a 20% discount if they buy the day of class, or 10% if they buy within that month. After attending the class where knitters can get excited about their new projects, they will be in a great mood for shopping! Plus, by offering them a free class, you have the opportunity to establish a relationship with your potential customers. You are also building brand loyalty, and making them comfortable in your store.
A B2B marketing company could do something similar and offer a class with free training on its product or service. Alternatively, it could bring in a guest speaker to teach on a topic its users all care about, such as marketing metrics and analyzing campaign success.
You may or may not choose to charge for a masterclass. Aside from covering the costs of any food, space, and other supplies, you may need to pay a speaking fee and travel costs for a top-notch speaker.