Let us know if this sounds familiar to you: You’ve worked really hard to become an expert in your niche. You know your industry like the back of your hand. And you’re always the first person that people come to when they need answers regarding your field of expertise. In fact, you’ve become somewhat famous around the office because of it!
Webinars may be the perfect marketing and sales medium for you if you are looking for a way to boost profits. Having such knowledge can also be to your advantage.
In this article, we’ll look at three easy ways to earn money with webinars. We’ll also cover a few best webinar practices so that you can monetize your knowledge to the maximum. Sounds like a plan? Great, let’s dive right in and get started!
3 Easy Ways to Earn Money with Webinars
Are you ready to monetize your knowledge and boost profits with webinars? Then check out the following three strategies to meet your goals.
1. Paid Webinars
The most direct way to make money with webinars is to charge an admission price to your live, online events. People will pay thousands of dollars to learn about specific topics from verifiable experts. There’s no reason why you shouldn’t sell tickets to your webinar broadcasts. Especially if you have the knowledge to share and can prove that you’re a good source of information.
But there’s more to it than jumping online and asking people to buy tickets to your events, of course. How to host paid webinars? You’ll need to follow these three steps to have success with this strategy:
Choose the Right Webinar Platform.The right webinar software platform will make the ticket selling process much easier. Choose ticket price and integrate your event with a payment processor like PayPal. That way you can focus on teaching and let technology handle the finances.
Promote Your Event Effectively. If nobody knows about your webinar, you won’t sell any tickets to it and won’t be able to monetize your knowledge. That’s why webinar marketing is so significant. There are a lotof ways to promote your broadcasts. Try email marketing, social media marketing, or paid advertising on Facebook Ads or Google AdWords.
Always Deliver Quality Content. Lastly, always deliver quality content, the kind that people will be happy to pay money for. Attendees will be much more likely to attend your future events and tell their friends about your business. Especially if they leave your paid webinars feeling like they got more value than they were charged for.
Follow these three simple steps and you’ll be able to boost profits with paid webinars. Don’t worry if you don’t feel comfortable selling tickets to your online events. We have two more ways for you to monetize your knowledge with webinars!
2. Product Demo Webinars
Earn money with webinars by using your screen time to demo and sell your company’s products. Unlike paid webinars, product demo webinars are usually free for attendees. Money is made at the end when the product being demonstrated is put up for sale.
So the question is: do you (or the company you work for) have a product that can be sold during your live broadcast? If so, this strategy might be perfect for you. As before, follow a few best-practices to succeed with product demo webinars and increase sales results:
Always Bring Value. Make your webinars valuable and worthwhile for your attendees. You won’t sell any products if your broadcasts don’t teach them something interesting. Since sales are the main goal of a product demo webinar, not selling anything would be disastrous.
Get Your Timing Right. The length, flow, and timing of your webinar matters. When it comes to length, our extensive research shows that about an hour (52 minutes to be exact) is perfect. Flow and timing go hand in hand. You wouldn’t, for example, want to pitch your product within the first 15 minutes. This time should be reserved for showcasing what your company’s offering can do. Instead, move the pitch to somewhere between the 30th and 45th minute of your presentation.
Promote Benefits Over Features. This is selling 101. If all you do is promote features, you’ll leave a lot of potential sales on the table. Let’s clarify: a feature is what your product does, a benefit is why it matters. For instance, your phone’s camera is a feature. The fact that you can easily capture life’s precious moments without hauling around any extra gear is a benefit. Can you see the difference?
Nail Your Call-To-Action. Your CTA is the point in your webinar where you actually ask your attendees to buy something. This part is obviously important! Make sure your offer is clear, taps into audience emotions, uses the active voice, and leads folks to a well-written landing page. We also recommend testing your CTAs to discover which ones connect best with your target audience.
Sell More with Email Follow-Ups. We’ll be honest, you could follow each tip in this article but you still won’t be able to convert every single webinar attendee into a customer. You can, though, increase sales by following up with each person who decidednot to buy your product and giving them future opportunities. Webinar platforms will even allow you to follow up with invitations to future webinars. That way you get another crack at selling to prospects who passed on your product the first time around. Who knows? Maybe they’ll be ready to make a purchase at a later date.
Product demo webinars are a fantastic way to earn money with webinars if you or the company you work for already has products to sell. But what if you don’t sell physical goods or pieces of software? What if you deal in information? Our next strategy is the one for you.
3. Webinars Promoting Online Courses
Perhaps you (or your company) don’t sell products. Maybe you deal in online courses and are hoping that webinars can help you reach new students and monetize your knowledge even more.
If that’s the case, you’ll want to follow all of the best practices we outlined in the previous section. If you can bring value to your audience, get your webinar timing right, promote benefits over features, nail your CTA, and follow up post-webinar with your attendees, you’ll sell a lot more courses!
Here are a couple of extra tips that apply specifically to using webinars to promote online courses and other training materials:
Address Common Objections. People are often more hesitant when purchasing information than they are physical products. This is likely because it’s easier to show the tangible benefits of owning a new lawnmower than it is to quantify the value of knowing how to create Excel spreadsheets. That’s why you need to take the time during your webinars to address common fears and objections and dispel them. Show your audience why they don’t have to worry when purchasing from your company and you’ll likely see sales go through the roof.
Include Case Studies and Testimonials. One of the best ways to dispel the fears and objections is through case studies and testimonials from past and/or current customers. When your webinar attendees see that other people — everyday folks who struggle with the same things they do — have found success using your products, they’ll trust your brand a lot more and be willing to try out your product.
Finish With a Q&A Section. End every webinar that promotes an online course with a Q&A section. Especially if your course costs a significant sum to gain access to. That way your attendees can ask questions and gain complete clarity before making a purchase. Because of this, a Q&A will help you sell more courses and reduce the number of returns you receive. Win!
Whether your online course can be downloaded, is available on your company’s website, or is accessed through a third-party software like Udemy, the above tips and strategies will help you sell your knowledge effectively.
3 Revenue Boosting Best Practices for Your Webinars
The three strategies above will help you monetize your knowledge and earn money with webinars. Before we let you go, we wanted to share a few webinar best practices you can use to really kick your sales into high gear.
1. Adopt a Webinar Flywheel™ Approach
Have you heard of the Webinar Flywheel™? It’s a webinar marketing approach that we developed here at ClickMeeting. It’s based on the standard marketing flywheel strategy that HubSpot adopted and popularized back in 2016.
“But what is it?” you’re wondering. In a nutshell, the Webinar Flywheel™ is a system for attracting, engaging, and delighting your target audience. It works like this:
First, share information with your tribe that you know they’ll be interested in. This is how you provide value to them and draw them into your company’s world.
Then you automate your information-sharing webinars to save yourself time and hassle.
Next, release your content to the world, promote it via email, social media, paid ads, etc. and build up a list of webinar attendees.
At this point, you’ve shared your knowledge via an automated webinar and gathered up a bunch of new leads in the process. Now it is time to qualify them.
Finally, take the time to engage with your audience. Build up trust and offer them your company’s products in a friendly manner.
If you use the flywheel approach, you’ll be able to increase your sales. And it doesn’t matter what kind of products you sell or which of the three money-making webinar strategies listed above you decided to use.
2. Eye-Catching Visuals Are Important
The way your webinars look is almost as important as the information you share. We live in a very visual society and the images, graphics, and overall branding of your webinars is very important.
That’s why we always suggest investing in a webinar platform that allows its users to add custom branding elements and include eye-catching visuals. Using a tool that allows for this will definitely help your company sell more products.
3. Add Elements of Urgency and Scarcity
Every webinar can benefit from urgency and scarcity. Ask yourself, “Why should my attendees buy my product(s) now rather than later?”
Do you have a limited number of products to sell? Will your goods only be available for a limited amount of time? Are you running a special deal that will save attendees’ money if they buy it before a specific date?
All these are solid ways to add urgency and scarcity to your webinars and boost sales. Make sure that your viewers know that if they don’t act now, they’ll lose out. Add a timer to show how much time they have left to order or a counter to tell them how many products are still available.
Earn Money with Webinars
Webinars are a fantastic way to monetize your knowledge and boost profits for yourself or the company you work for. We encourage you to put in place one of the three strategies outlined in this article.
Whether you use paid webinars, product demo webinars, or webinars that promote an online course, we’re confident that you’ll be able to earn money quicker and more consistently than ever before. Good luck!
If you haven’t chosen a webinar platform yet, give ClickMeeting a try. Don’t hesitate and host paid webinars, automated webinars, and on-demand webinars.
Test ClickMeeting for free for 30 days to see if it’s the right platform for your business!