When I tell people about the amazing benefits webinars have offered to my business, they usually seem surprised. In this post, I’m going to explain how to make money with webinars. So, let’s get right down to it.
Should you have a lengthy list to make it work? What can you expect regarding the number of people who will actually show up to your webinar? I’m going to explain details about how webinars work and how you can organize a profitable webinar.
How Does A Webinar Work?
If you have an online business, you must have come across people telling you to do webinars to build your audience and boost sales. Most people are nervous about the technicalities involved in a webinar and coming in front of the camera. But once you go ahead and do it, the connection it builds with your audience is amazing.
It is a presentation that the host delivers live for the whole world to see. You can release a live presentation, get on camera and reveal relevant information. For about 30-45 minutes, the job of the presentation is to present super valuable information. The presentation is free of cost. However, at the end of the webinar, you can pitch for a paid product.
How Do Webinars Make Money?
Offering a paid product or service at the end of the webinar is the trick to making it a profitable one. When people learn about your offering, they are able to put your product to better use. If you have gone about promoting your webinar in the right way and your pitch, in the end, it makes sense, people are likely to make a live purchase.
Do you wish to know how to accomplish these goals? Check out the guide below.
How To Make Your Webinar Profitable?
To ensure that your webinar is profitable, here are the steps you need to take.
1. Aligning the promise with the offer
We don’t like people making fake promises to us, do we? Then why would customers like it if your promises don’t align with your offer? When you select a topic for your webinar, you are promising something to your attendees. They are seeking to learn something from the webinar.
The promise has to align with the pitch you offer in the end. Otherwise, sales have to take a toll. If you commit this error, you will end up enticing people who are not interested in buying your product to the webinar. So, ensure that the topic of the webinar and promises made are in perfect alignment with the sales pitch.
2. Don’t delay more than 30-45 minutes to start the pitch
The number of attendees of a webinar begins to drop once it completes 45 minutes. So, it’s important to keep the time factor in mind and start your pitch after 30 minutes. This way, you can ensure that the maximum people are live with you when you begin pitching at the end of the webinar.
3. Offer graphics and visuals in your webinar
Visual representation is always appealing to the eye. Even if you are dealing with digital products, you can present a mockup and showcase your product as a tangible entity. For instance, you can use mockups for showing templates, bonuses, worksheets, etc. This will help your attendees realize the value you are offering and will ultimately result in better conversion rates. You can also use visuals to show the inside of your program to ensure a better understanding of what you are offering.
How Not To Do A Webinar?
Now that we have taken a good look at some profitable practices, let’s move on to some strict don’ts. Most people use a backward method in building a product or offering a service. They spend about 6 months of time in making a product. Then they start making a list and building an audience. And here it is, they waited more than required.
Another mistake is that they put the product before the audience. After that, they move on to the launch. They spend a lot of time and money. In this process, the product owner is just hoping for the audience to magically buy their products. Of course, it’s not guaranteed and greater chances are that it is going to be a flop.
What’s The Right Way To Do A Webinar?
The flop show must have scared you if you are planning on conducting a webinar. So, let’s take a look at the right way to go about it.
1. Go ahead with the webinar without the product in hand
This might sound weird at first but it reduces the risk to a great extent. Having a product in hand is not a mandatory requirement for a webinar. Instead, if you have an idea or a concept, you can go ahead with the webinar.
2. Preselling the idea
Instead of working on a product and trying to sell it, first try to presell your idea. If you get positive responses from the audience, it’s time to get to work and develop your product. If they don’t give a positive response, you can keep the idea on hold and pitch a new one. This way, you don’t waste a lot of time, effort, and money on building a product.
3. Go on to the launch
When you have made some sales, launch the product. This means that the audience has validated your product and you have the green signal.
How I Used Webinars For Pre-selling My Products?
Now, we know that we can use webinars to pre-sell a product. As long as you have an idea or an outline, you’re good to go. If you have a module, that’s even better. People might think that pre-selling is a bit weird. But what they fail to realize is that it’s an essential part of validating.
Let’s say, I did 4 webinars in a month. In the first one, 200 people registered. In the second one, 400 people registered and 600 people watched. We urged those who have registered to share the live page with their friends.
Eventually, people started sharing the webinar with their friends and I got almost 800 people who registered. It included joint webinars, bundles, and solo. Some were affiliate webinars, so I just got a commission even though I didn’t own a product.
I’m going to break down what I did in steps...
Step 1 – I had an idea for a product. I wrote down the idea, made an outline and developed a rough sales page.
Step 2 – Joint webinar with someone who belongs to my niche. In just a few hours, we made a thousand sales.
Step 3 – Doing a webinar with someone in a similar niche as me at the same time for launching the product. We bundled up our products and I got 25 buyers for my product in 12 hours. At that point, I was thinking that it really works. This has changed everything for my business.
Step 4 – I ask a total stranger for conducting a webinar together. Even though it might sound strange, if they agree, we go for it. And the results are insanely impressive!
Step 5 – I do a solo seminar when I have to build up enough courage after partnering with others. This post-webinar sequence helps in getting better conversions and increases the profitability of the webinar.
Step 6 – I use webinars REPLAY uniquely for the promotion of a product.
Usually, these steps account for providing me three times my expected sales.
A finished product is not mandatory if you wish to make money via webinars.
The best thing about webinars is that you don’t require a big list, a blog, or a social media following. Spending $1000, $2000, $3000 each month can help you build a business with clients and products. Think of it as an uphill battle. If you host one webinar per week, you can easily make up for the amount spent with your business.
Some other perks of webinars comprise building an impressive E-mail list, is known as an expert in your niche, building different connections, and increasing trust.
Don’t Give Up Out Of Fear
Fear is one of the most common reasons a lot of interesting ideas are resting in the grave. People hesitating on implementing their ideas can be the worst dream killer of all. Most budding entrepreneurs are afraid that webinars might not work out for them or that no one will attend. Even if you don’t have a list of 500-1000 people to invite, there is no reason for you to give up on the idea. To have a super successful webinar, you don’t need a large population coming up.
Summing It Up
If you want to be known as the go-to expert in your industry, webinars are the way to go. It provides you recognition and the required business fame in your niche. So, imagine what the future looks like when you go ahead and take a step further to build your business via webinars.
Video Source – Dan Lok
If there’s anything you think I’ve missed – talk to me in the comments below!
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