Most people have a hard time understanding how webinars can make a business more successful, or how they can make people money. However, many of those who create webinars can earn in a month more than most people make in the same period of time, from their full-time jobs.
This having been said, the following question arises: How can someone earn money with webinars?
Below, you will find key information that will help you create a profitable webinar.
So let’s start with the beginning. How do webinars work?
Well, the webinar itself (the presentation) is completely free. Basically, you have 30-45 minutes to present as much relevant information as possible, for free. What follows next is what makes you money. At the end of each webinar, you recommend that people buy a certain product that is relevant to the information from the presentation. People will buy it in order to make use of the information that you gave them for free.
If you promote your webinar properly, offer great information to those who attend, and deliver an awesome pitch that makes sense, people will buy your product on the spot.
And if some don’t then you have the option to follow up and offer them a limited time special offer on the product, or a limited time bonus.
Making your webinar profitable:
You have to take care of three aspects of your webinar, in order to ensure that it will be successful:
- First, you must make sure that your promise aligns with the offer
In other words, keep in mind that when you choose a webinar topic, you will actually make a promise to all those who attend your webinar that they will learn new, useful things.
If this promise does not align with the offer, then your sales will be a lot lower than what you expect them to be. Attendees need to see the value of what you tell them, in order to make purchases.
Unfortunately, if you mess up here, you may attract people who are willing to sit through the webinar but are not interested in purchasing anything, regardless of what offer you make them.
So make sure that your chosen webinar topic is aligned with the product that you are pitching. If you do it correctly, those who will attend will also be interested in buying the product that you have to offer, in order to better use the information that you have given them.
- Start the pitch about 30-45 minutes after the webinar has started, don’t wait a minute more.
Statistics have shown that people start dropping off after 45 minutes, and if you want anyone to be there for the pitch, then you should keep in mind that people do have other things to do and may not have enough patience to stick around for an entire hour.
So be respectful of their time and do not start your pitch later than 30-45 minutes after you’ve started the webinar.
If you do this correctly, you will still have the maximum amount of people still watching the live feed when you start pitching your offer.
- Enhance your offer through the use of visuals and graphics
People tend to be a lot more receptive if you also use visuals and graphics when you make the pitch for the product. And, considering that you want everyone to buy, it is important that you find a way to grab their attention.
Keep in mind that even if the product that you offer it digitally, you will still be able to create a tangible mockup which to include in your webinar.
If you do this, attendees will perceive the product as being more valuable than they would otherwise and this will increase your webinar conversion rates.
Now let’s look at what most people do wrong when it comes to webinars.
The main problem is the fact that a lot of people build everything backward, from the business itself to the products.
They usually spend about six months creating a product, then they start building up their audience and email list, after which they launch.
Doing things in this order will only help you waste time, money, and energy because most of the people who are part of the audience won’t be that interested in the product in order to actually buy it. The big mistake is that people create their product before getting an audience.
Here is the right way to create and use a webinar:
The best way to start is by first doing a webinar on a topic that you consider creating a product on. At this point, you only need to have an idea or a concept to go on.
You will have to presell the idea, for about a month or so. If you get any sales, then your idea will be profitable. This will essentially help you test the product out in a marketing situation before actually risking launching it.
Once your audience has validated you, you will be able to start creating the product. If not, then you haven’t actually lost that much, you haven’t spent a long time creating a product that you are now stuck with.
Look at how the community responds to the product while you presell it, and consider implementing anything that they may want. After that create the product and launch it. You’ve done everything by the book: You’ve tested the market and have found that there is demand for it, your product has been validated, and you have started selling it.
Let’s clarify how to pre-sell a product through webinars:
Webinars are the perfect medium to pre-sell products. However, you do need to have a solid idea. You may even need the first module ready. While pre-selling may seem a bit strange it is actually common practice when it comes to validating.
Once you pre-sell the product for 30 days, the number of attendees will slowly start increasing and you will soon reach the point where there will be close to 1000 registered people that want to hear what you have to say and buy your product.
- The first thing that you will have to do is come up with the idea for a new product. Once you do, create a rough sales page for it;
- Next, organize a joint webinar with someone else that you know in the same niche. You may be surprised by the number of sales;
- Do another webinar with another friend in your niche who is launching a product in approximately the same time frame. This way you will continue to get more experience on doing webinars, and you will be able to bundle your products;
- Try to get a total stranger to do a webinar with you. You have nothing to lose. If he agrees, then you will be able to sell, and if not, you can try again with someone else;
- Do a webinar by yourself, after you’ve gained some experience through the joint ones. Once you do this, you will see a lot of post-webinar conversions and your sales will go up;
- You have to use the webinar replay in order to promote the product. This will further increase your sales;
Keep in mind that: You do not need to have a large email list, a blog, or a social following. You can actually develop your business at the same time you are starting out to do the webinars.
Consider the following situation:
Let’s say that you want to get your business to the point where it will make you a certain amount of money each month with clients and various products. If you do only one webinar each week, you will see that your business will generate more income at help you reach your target a lot easier.
However, there are many more advantages to doing webinars, besides making more money than you would from your business alone. Webinars can help you grow your email list at an incredible pace (It can add 400-500 subscribers every few days).
It will also help you establish your authority as an expert in your chosen niche, and this means that other will come to you when they need help. This, in turn, will help you build connections and make people trust your opinion. In the end, all of these will potentially help you earn more money and develop your business faster.
Now, let’s take a look at how webinars can be used in order to increase your sales:
If you aren’t sure what topic to choose for your webinar, then you can always teach a simple technical skill that you have mastered to some degree or do a tutorial on how to use a specific device or piece of software. It is important to not disregard the simple ideas that you may have. For example, you can create a webinar on how to create a MailChimp and how to use it in order to send a campaign.
This may seem extremely simple to you, but there are people who are just starting out and barely know of the platform’s existence. After the webinar is done, you will be able to monetize the video and earn even more money. Overall, teaching a simple technical skill can help you earn up to $5000 from 3 hours of actual work.
Keep in mind that simple topics for webinars have a high success of being successful, as long as they provide information that people can use.
Generally speaking, as long as you have an irresistible offer, then people will buy your product. While the pitch is extremely important, as is the information that you present during the webinar, it is vital that you are careful when it comes to pricing. Good pricing can make the biggest difference when it comes to making money from your webinar.
Most of the time, you can set a lower price for the product and sell more, or set a higher price but sell fewer items. There is a rare occasion when you offer something that has a huge demand and you end up selling a lot of products regardless of the price, but doing so requires a lot of insight when it comes to your audience and your niche.
The important thing to remember is that you do not need an expensive product in order to be successful; you just need to have an irresistible offer.
Also, never give in to the fear of not being successful. If you start to doubt yourself, you will lose momentum and doing the webinar will seem a lot harder than it really is. Furthermore, you may find that your audience will see your lack of confidence and you will sell very few products.
It doesn’t matter if you don’t have 500 people on your list, to let them know about your webinar, and it doesn’t matter if you think that nobody will attend. If you organize it and market it properly, you will see results.
Don’t forget that you only need a few dozen people in order to create a successful webinar, and once it is up and running, your list will grow.
In other words, the only way you can fail is if you do not try. Keep in mind that if you follow the instructions in this article, you have nothing to lose.