How To Make Money With Webinars
When I tell people how webinars have benefited my business, they seem amazed!
Many o f my students are able to earn more in a week than most people make in a month with "regular" marketing methods.
So, how do you make money with webinars?
Do you have to already have a huge list to make this work?
How many people can you expect to show up to your webinars?
Today I’m going to explain how webinars work and how to have a profitable webinar.
How does a webinar work?
The webinar presentation, itself, is free.
You present your best, super relevant information for free for about 30-45 minutes.
So how do webinars make money?
To make money from a free webinar, you offer a paid product at the end.
People are able to purchase your product or offering and take what they learned to the next level.
If you promoted your webinar correctly, taught your attendees well, and delivered a pitch that made sense, people will buy your product live!
You can also follow up with anyone who didn’t buy live and offer them a special limited time bonus.
How to make your webinar profitable:
There are 3 things you must do to ensure your webinar will be profitable:
1. Your promise must align with the offer.
When you pick your webinar topic, you're creating a promise with your webinar attendees.
A promise of what they will learn from your webinar.
If your webinar's promise does not align with the offer you pitch at the end of your webinar, your sales will suffer.
If you make this mistake, you will attract people to your webinar who are not interested (or ready) to purchase your product.
Make sure your webinar topic and promise are directly aligned with the offer you are pitching.
That way the people attending your webinar, are interested in what your product is about!
2. Start the pitch at 30-45 minutes, no later!
After 45 minutes, there is a significant drop off in the number of attendees.
You want to be respectful of everyone's time and start your pitch 30-45 minutes into the webinar.
By doing this, you will have the maximum amount of people still on live with you when you start to pitch.
3. Make sure you show the offer with visuals and graphics.
During your pitch, be sure to show a visual representation of your offer.
Even if your products are digital (most of ours are!), you can still make your offer tangible by showing your product in a mockup during your webinar.
In the example below, we used mockups to show bonuses, templates, worksheets, and the inside of our program:
Showing your offer this way, will help your webinar attendees perceive the value of your offer and it will increase your webinar conversion rates.
How NOT to do a webinar:
Here’s the thing:
Most people build their businesses and products completely backwards.
They spend 6 months making a product.
Then they start building up their audience and list.
Whoops, they waited too long! They put product before audience.
Then they launch.
A big investment. Hours of time, money, energy.
They hope that people buy their stuff - but it’s not guaranteed.
There’s a real chance that it could flop.
The right way to do a webinar:
Don't worry, there's a better way to do webinars.
This is exactly what I did - because it freaking works!
Do a webinar about a topic you might like to create a product on. As long as you have an idea or concept, you’re good to go.
PRESELL your idea. I did this for 30 days before my product was released. If you get sales - congratulations! You have a solid idea! You have been validated and can start working on that product. And if nobody buys - no big deal! You haven’t spent months creating something, so you put that idea in your pocket and pitch a new one.
If they like your idea and you make some sales - YAY! Time to start creating that product.
Now you can do your launch. You have shown demand, you have your product validated, and you have some initial sales.
How I used Webinars to pre-sell my product:
Webinars are a great way to pre-sell your product.
You should have a solid idea and an outline, maybe even Module 1 ready to go! Pre-selling isn't that weird, it's an important part of validating!
Over a 30-day period, I did 4 webinars.
The first webinar I did, 200 people registered. The second one, 400 registered and 600 watched (we experimented with asking people to share the live page so it was more people who didn't register).
Eventually, I could get 800 people to register and tell their friends.
Some of these were bundles.
Some of these were joint webinars.
Some of them were solo!
(Some of them were even affiliate webinars - meaning I didn't even need my own product I just got a commission!).
Step 1: I came up with an idea for a new product.
I wrote it down. I outlined it. I made a rough sales page.
Step 2: Joint webinar with a friend in my niche.
We a few thousand in sales in a couple of hours.
Step 3: I do a webinar with someone else in my niche, launching something in a similar time frame.
We bundle our products and 25 people buy my product in 12 hours.
At this point I’m thinking - "this really works. Holy crap."
I’m learning more and more about webinars every day - because this is changing EVERYTHING for me and my business.
Step 4: I pitch a total stranger about doing a webinar together.
She says yes, and we team up for a webinar bundle. Results coming up in another blog post. They are INSANE to say the least.
Step 5: I do my first solo webinar after building up my courage with partners.
This one blows every other webinar out of the water. The post-webinar sequence converts like crazy.
Step 6: I utilize the webinar REPLAY in a unique way to promote the product.
...and it triples my expected sales.
You don’t need a finished product to start making money with webinars
You don’t need a big list - that’s what webinars are for!
You don’t need a blog.
You don't need a social following.
You can literally build up your business with webinars.
Think about this:
You’re trying to build up your business to doing $1000, $2000, $3000 each month with clients and products - and it feels like an uphill battle.
Doing ONE webinar per week could potentially allow you to make that income from your business.
And yes, we’re talking about money and revenue...
But there are so many other reasons you need to be doing webinars right now.
Grow your email list (add 400 new subscribers in a matter of days? Yes please!)
Get known as THE expert in your niche
Increase trust and build connections
...and so much more.
It’s not ALL about the money.
Let's look at how you can use webinars to make more sales.
Example 1: $5100 in 3 hours from a Tech Training.
Not sure what to do a webinar about?
Teach a simple technical skill or do a tutorial on how you use a software, technology, or program!
Don't discount the simple ideas:
They can be magic.
I did a webinar about how to set up your MailChimp account and send your first campaign.
Something I did every day. It seems so simple to me!
But that ended up being a super successful webinar training - and led to $5100+ in sales during the broadcast.
Not to mention how I monetized the recording - bringing in passive income after!
Example 2: Hundreds of eBooks sold in 24 hours.
In my course, Webinar Rockstar®, I teach my students just how important having an irresistible offer is and how to create one.
This particular example is the PERFECT example of an offer that was literally too good to pass up.
As in - I STILL get angry emails from people that missed the bundle offer!
Pricing can be tricky.
You can either sell more products at a lower price point or less volume at a higher price point (unless you have what we call a unicorn).
Oftentimes, the revenue numbers even out.
In this example, I sold almost 300 bundled eBook products precisely because the offer was so affordable.
You don’t need a big, expensive product to kill it. You can do it with an eBook.
What mattered is that we created an IRRESISTIBLE OFFER.
Hence, the larger number of sales at a lower, super affordable price point.
Don't give in to fear.
I know a lot of you are thinking:
"But I don’t have a list of 500 or 1000 people to tell about my webinar."
"This won’t work for me."
"No one will come."
This is wrong for two reasons:
I can show you how to get people to show up. And doing webinars will BUILD YOUR LIST BIG TIME.
You only need a handful of people to have a super successful webinar.
One quick action item for you today.
I want you to think about what it would mean for you to be THE go-to expert in your industry.
To have the recognition and “business fame” in your niche.
To be the rockstar of your industry - with more clients, customers, and influencers knocking at your door than you can handle.
What does that look like for you?
Would you collaborate with someone big?
Launch something knowing it would be a hit?
Take 15 minutes and really go wild.
Now in the comments tell me what you’d do.