You’ve likely been on a webinar, web conference, online training, whatever the word is they use to describe it. Webinars are huge hit in the IM world right now, but they’ve actually been used in all sorts of niches pulling in big bucks for a long time.
I’ve done several of them now, where the webinar itself really was nothing but education (no selling) and then others where its a combination of education and something to sell. Here is how you can literally make big cash using Webinars.
What Is A Webinar
Just to put everyone on a level playing field, lets talk about what a basic webinar is. Most webinars I’ve seen (where it’s LIVE, not talking about these recorded ones) are all run through GotoWebinar. They can host up to 1000 people on a webinar.
Several other companies exist offering similar services, but GotoWebinar seems to be one of the most popular.
Attendees are typically invited through an email invitation sent out by the host or promoters of the webinar. You sign up, and will get reminders along with a link to join the webinar during the scheduled time.
Most webinars are Voice over IP, meaning you will hear the host(s) speaking through your computer speakers, and you won’t have the ability to speak. You will be able to communicate to the hosts and ask questions to the host through a ‘question’ panel within the gotowebinar application. Now GotoWebinar does allow you to speak in your microphone but most webinars aren’t setup that way as there are too many people to have everyone talking.
The host will share their screen which will likely be a slide presentation, or sometimes doing live demonstrations from their screen, but it’s unlikely any video (of the hosts) is involved, just screen sharing.
Attendees get the opportunity to ask questions throughout if the hosts are going to be taking questions, or more often they’ll leave a Q&A session near the end to answer any questions.
How To Make Money With Webinars
Webinars are a great way to make money online, because you have the attendees attention and ability to connect with them as they’ve shown interest. Most successful webinars that I’ve participated in involve educating the attendees on a particular topic.
Don’t kid yourself though, it’s all sellling, education too. Careful planning goes into the slides, creating open loops and selling while educating at the same time.
You will find most people will arrange something special for the webinar attendees to purchase at the end, it could be a special ‘bonus’ to the first X amount of people or a discounted price too. But whatever the additional benefit is, it’s only available to those on the webinar and when the webinar is over, if you choose to not take the hosts up on their offer, you won’t have access to it again.
It’s kind of like free coaching, it does depend on who is putting the webinar on. I have been on plenty where they give almost nothing in terms of value, or education. I prefer to go with providing value, so whomever attended, if they decided not to buy they still came out with some sort of additional knowledge they can use beyond what the ‘offer’ was about.
I’ve heard of people selling $100,000 of webinars, now that would be friggin amazing, but I haven’t reached such a level (yet).
Joint Venture Webinars
I’ve done approximately 7 or so webinars for Local Video Method over the last 8 months, which were purely presenting information, doing some Q&A, and I didn’t have a single thing to offer in terms of ‘selling’, just straght up information.
As part of the launch for Local Video Method v2.0 I wanted to reach out to some new audiences. So what I did is put some time and effort into preparing a good webinar that educates and sells at the same time. This webinar is about offline consulting, getting clients, marketing yourself etc, and also talks about the actual process of video reviews as a lead gen, which is what LVM is.
Now people who want to try it themselves, CAN, but if they want to learn how to do it the quicker way, they can purchase. So the webinar provides great value and information, and an offer at the same time.
Now you can go around to people who have lists of what you would consider potential buyers. So for me, I’m going to to try and reach out (via Skype, email, VIDEO!) and talk to people who are also in the same niche (offline consulting).
I’ve now got a prepared webinar, they just have to promote the webinar. We’ll do it together (I do most of the talking) and then any sales from that webinar are split typically 50/50 (joint venture).
This has worked tremendously well, I’ve done two JV’s for LVM 2.0 in the last month or so totalling just over $17,000 and I have more to come! That’s not a lot compared to some other big names, but it’s a great start and the numbers are outstanding. 1 webinar converting at 30% with an earnings per click of over $12.00!
So I can approach people now with numbers, a complete ‘package’ and all they have to do is promote it and cash in. They get to provide a high quality product (if I do say so myself) which makes them look good for the recommendation, they have some money in their pocket as do I, and I now have some new clients.
They’re a fantastic way to quickly build a list and to get cash and build relationships as they bring a flood of traffic very quickly. I have something to offer and the JV partner has the list!
Most of the time webinars will be recorded and used later down the road which is a great leverage strategy for the webinar itself. You can send out replays to your list to help drive more sales (for those that couldn’t make it, forgot, or never got the invite). You can also use the video and cut it up, allowing you to create several videos from one.
I could upload those to Youtube and optimize those for some keywords I’d like to target, driving traffic back to my sales page. I’ve personallly used it as part of the premium content within the Local Video Method membership as a value add. Anyone who purchases Local Video Method has access to the webinar library.
I’ve also created a 6 part video series in my autoresponder, thats spread out over two weeks and provides free training to those on my list whom have never purchased Local Video Method. It gives them a taste of what the full package is all about.
You can easily schedule several webinars in a week. That will take some coordination but it’s more than possible, each webinar really takes about 2 or so hours to deliver and some admin work on the side to set it up, promote it, but it’s hardly a full days work.
I’m sure there are many more ways to leverage them, but this is how I’ve leveraged my webinar recordings.
Here are some tips for you if you’re deciding to run a webinar.
- Schedule it out about 1 week out, with all the timezones, weekends etc. give people the opportunity to read your invitation and sign up.
- Schedule a 24 hour reminder and a 2 hour reminder email to go out (I use AWeber)
- Close any programs that may pop-up or interfere with your screen, you’re going to be sharing it with hundreds of people! :)
- If you’re going to show your browser, please clear your history to avoid anything embarassing appearing in your recording and to your attendees.
- Test everything 15 minutes before hand, then sit and wait. You’d be surprised at the tiny things that’ll mess up right before you’re suppose to start.
- Start on-time, respect the time of those who showed up on time!
- Record every webinar, you can always get rid of it afterwards, but if you don’t record it and want it, you’ll be out of luck. You can use Camtasia or Screenflow to record the webinar (including audio/video).
- Try to keep the background noise to a minimum, interruptions can make it more ‘human’ but to a minimum.
- You may say this goes without saying, but whatever you do, don’t say anything bad or derogatory about the attendees or anyone or anything while on the webinar, even if you think you’ve hit mute or it’s not on. The only way to be certain it’s not on is Goto Webinar is closed! Many people have been burned by thinking it’s off-air mean while they’re voice is still being heard by all the attendees.
- I like to have nice presentations, that’s just me, some images and so on keep what is a semi-boring event (no video etc) a little more interested and engaging.
- Like most presentations, keep your list of bullet points on your slides to a minimum (per slide).
- You will not be given a list of email addresses of attendees to easily use. I highly recommend implementing some tool (such as this one) to sign people up to your email list AND the webinar. When you’re on the webinar, and you promise to send people something, if you don’t have them on a list, that will be very difficult if not impossible. There is no easy way to get your webinar attendee email addresses to your auto-responder afterwards.
- When speaking, speak slowly, and vary your tone, again helps keep it from sounding boring
- Promote your registration page as much as possible and those of you who want to do JV’s, you can setup an affiliate link for an affiliate to land on the registration page. That way any traffic they send to their affiliate link will go to the webinar registration page and track the purchase to them! Gives them a great incentive to promote your webinar!
- Don’t forget that you’re selling, so remember to show value, create open loops, close them, keep them enticed and when you’re ready don’t be afraid to make the pitch. Some people say talk about the pitch early, others say wait till later, that will depend on your audience (from my experience). Ask your JV partner how their list has been groomed with previous webinars.
- Don’t panic if you forgot to hit record in the midset of starting your webinar. Send out an email to those who attended and I bet you someone recorded it for themselves and would be happy to provide you with a copy. (can you tell that happened to me?)
- If you find this list useful, please hit the like button and share it on facebook for anyone else interesting in running their own webinars!
That should give you a good start. The first one is always a little nerve racking, but just get it over with and move onto the next one, they only get better each time you do them, and you won’t even worry from that point.
Don’t worry about the questions that come through Q&A, you don’t have to answer everyones question, it’s up to you what you respond to (questions are only visible to the admins).
So if you have an offer, put together a great webinar and go find people who have the customers you would like to be in front of and propose something. A mentor of mine once told me (when I was basically making excuses about not apporaching someone) “if you don’t ask, the answer is already no”. So get out there! I am actively working on this myself, it’s about relationships, asking for a little help, talking to people etc. But you can make a lot of money doing JV webinars and getting to a wider audience, not to mention just doing your own webinars to your own list if you have one.
PS. If you have any questions about webinars or, what I’ve done, please post a question in the comments below and I’d be happy to answer them.
Filed Under: Howto