- You are listening to The Femtrepreneur Show
and this is episode 41.
In this episode we are talking about
how to make money with webinars.
(upbeat music)
Hey guys, it's Mariah.
- And I'm Megan and I'm really excited for us to chat.
I feel like I say that every week
but I'm always really excited about the topics
we are talking about.
And I think that talking about how webinars
can actually make you money is great for people
who have never done one before and are kind of confused,
but it's also great for those of you who have done webinars
and maybe you feel like you are not doing it right
or making as much money from them as you can.
No matter what boat you are in,
I think you are gonna learn some good stuff in this episode.
- For sure, and I feel like when I first started hearing
about webinars, I was like, "What?
"How does that work?"
because I couldn't understand.
It was like you sign up for them and then you get emails
and then I was like, "But how are they making money?"
like that was something...
I think if you are not into it and you don't really know
then, I just was so curious,
I was like I don't understand
how they are making money.
It's free to sign up.
So, now, I obviously know and I figured it out
and I was like, "Oh my gosh!
This is so amazing because
you get to provide so much value for free
and then when it feels really good,
you do get to make sales as well.
Today we will go into how webinars work,
how they actually make money.
A lot of people have asked me, "What?
"What even is a webinar?
"What makes a webinar a webinar?"
As opposed to a class or a paid workshop
or something like that.
And then we are gonna give you three tips
for making your webinars profitable
so that they actually do make money
and which I especially helpful if you
have been doing webinars but not really getting the results
that you've been wanting.
So let's jump in, let's just talk about how webinars work
in their very basic forms.
A webinar is basically a free presentation, right?
The presentation itself, in order to register
for the webinar, it doesn't cost anything.
It's a free workshop or free class
that people can register for and it doesn't cost anything.
So that part of it is free
and then during the webinar, you wanna present
your best, most relevant information
for free for about 30 to 45 minutes.
Again, you are still in the realm of free, it doesn't cost
anything for anybody and you are offering this
to your audience.
The way that webinars make money even though,
they themselves are free to attend and you
are not charging for them is that at the end of the webinar,
you make an offer for a paid product, okay?
So this is how you turn something that you are doing
for free into sales at the end.
- Yeah, and I think we are gonna get into a little bit more
of the tips on doing that the right way,
in a few minutes but...
Hopefully that clears the confusion on how a free webinar
turns into money.
People do offer paid workshops like you mentioned
and that's kind of like a different realm
so we are focusing on the free webinars that you do
to help build your list, build your authority
in your industry, become an expert.
All those reasons we love webinars,
so we are try them out, free webinars specifically.
- The free webinar in the whole way that this works
is that you wanna have something that you can offer
at the end for people who wanna take it the next level.
This could be different depending on what you sell.
It could be like, hey, if you liked
you hadn't got a taste of what it's like to work with me
if you like working with me, I have a coaching offer
or a coaching package you can buy.
You can do really well selling services on webinars
because you have that sort of better connection,
that better personal connection to people who think,
wow, I love this presentation, I love the way she talks,
I love the way she's explaining things.
I would love to work with her one on one.
You are gonna get that a lot.
You can also sell a product.
You could sell like a digital product like a course
or program which is what we always do.
I've also seen people really successfully sell
physical products with webinars.
If you are wondering, that's kind of how QVC works, right?
People are just showing off how to use their products,
educating people about their products,
showing live demos, it can work really well for that.
And of course, webinars can work really well if you
are listening, you have a software product
or you are working on promoting a software product.
Webinars are great because, it's really the only way
to get a live demo of how your software works.
So whether you sell coachings, services, products,
physical products, software.
Any of those things can really be sold with webinars.
And they just feel so...
It feels so good to sell on webinar to me
because I really enjoy giving that free value, like I said.
During that time that you are presenting
that free information.
That 30 to 45 minutes, it's your best stuff, right?
It's your best content, your most relevant content
that you can share in 30 minutes.
Of course, you have more to share in your program.
Of course, there is more to be done with your services
but you really wanna pack a punch in that 30 to 45 minutes
and just blow people away so that they are super excited
to work with you.
I just always love selling on a webinar
because it feels like, wow!
I gave so much value today and people got so much out of it.
They are gonna walk away with something,
even if they don't buy and I always feel good about that.
Knowing that people are gonna walk away
with something valuable even if they choose not to join.
Which some people...
If you've never done a webinar before,
not everyone buys, not everyone who is live with you
is gonna join and either purchase your service or product.
Which is totally fine.
I remember once, a student of ours just didn't know
what to expect and she was like upset and she was like,
"Wait, I did a webinar and every single person didn't buy"
and I was like that's not what's is supposed to happen.
(both laugh)
and I was like, "Oh no, that's good."
and they are like, "Oh, only 20 people bought
"of the 30 people who were there"
and I'm like, "That's amazing."
Not every single person is gonna buy but you are giving
them the offer, the option to keep working with you
after the free webinar.
- Yeah, definitely.
- And the other thing that you can do that is if...
Not everyone is gonna buy live on the webinar of course.
Like I just said.
But you can also follow up with the people
who registered for your webinar
and if they didn't buy live, you can send them
a couple of follow-up emails
and then you can also offer them a limited bonus
or something like that if they wanna sign up
during what we call like the limited replay period.
That could be 48 hours after your webinar.
They can still join the offer that you made on the webinar.
- Yeah.
- It's not really over.
Even when your live webinar ends,
that's not all the sales you are gonna make.
You gonna make more in the follow-up as well.
- Yeah, definitely and I think
just touching on selling on a webinar.
To me it always feels really good too
because you know you just gave so much stuff
that when you get to the pitch,
you don't have to feel concerned about it
because you are like, "I know I just gave
"so much free information, that I don't feel
"any kind of internal hesitation or resistance
"to like now try to get you to buy something."
To me that can feel a little...
It's scary at first but it feels way better sometimes
than just like asking for you know, I don't know.
For me at least, when I just like ask for--
- Ask for the sale.
- Yeah, thanks.
So I always like it. - It is like
a visceral reaction.
It's like a real time reaction.
A lot of times if you are launching
and you are just sending out emails,
you can feel like you are bombarding people with emails.
- That's true. - Or you are not
really getting like...
You are not getting, you don't see how people are reacting
you don't see people opening your emails and being like,
"Wow, I love this!"
Because you are not live with them.
What can happen when you are doing the webinar,
I feel like it builds up your confidence to the pitch,
all the way through the webinar
because you can see the live chat
and you see people being like, "Wow, this is so valuable!"
Or you someone commenting like,
"I'm getting so much out of this"
or a lot of times people will say like,
"I can't believe this is free."
So you'll be like building up your confidence
throughout the whole 45 minutes that by the time
you go to pitch you are like, "Oh my gosh,
"I am amazing and everyone loves this(Megan laughs)
"and I'm doing so good" - Yeah, that's so true.
- So it's really like this positive feedback happening
throughout the entire webinar that doesn't happen when
you're like sending emails, you know.
- Yeah, I also think webinars are great
not to go off on a tangent
but this will be my last side comment
before we move on.
But I think it's also great as far as feedback when
you're launching a new product because people ask you
those questions when you've made your pitch
so maybe you left out a gate, like a hole in your pitch
in your offer of this product and you didn't realize it.
And if you would just send that information out in an email
those people would've been left hanging
with their questions and may or may not have gone
through the effort of replying, but since they're there live
they can ask those questions live and you can realize like,
"Oh I need to add this emails, I need to make sure
"this is on the sales page."
So it's a really great opportunity to get feedback from
that angle also, like things you may not have thought about
or questions you may not
have thought. - What are you missing?
What's not clear about your offer?
and you're gonna get that feedback live
and then, like you said, apply it
to your sales page, your emails any other webinars
you do in the future, super smart.
- Okay, so that is how webinars work, we gave a
few little insights on why we like selling on webinars.
Now wanna talk about the three tips for how
to make your webinar profitable.
- Yes, so the first thing that you need to do,
is right from the get-go, make sure that your promise
of the webinar aligns with the pitch and the offer
that you're making.
So, as an example of what not to do.
I recently think I saw webinar that was like how
to set up your funnel or like how to do this whatever,
how to set up your Facebook ads
and then the offer wasn't like a Facebook ads course
or something like that, would make sense.
It was like, how to launch your course
or how to create an online product.
And so those two things, for me, were not aligned at all.
It was not, like what I was attending the webinar for,
wasn't actually related to the product they were offering.
You could make some sort of squiggly line
and connect them(laughs)
but it wasn't a directly related thing.
What happens is that you end...
If you do that, you make that mistake,
you end up attracting people who aren't even looking
for what you're offering, for your paid course.
Definitely make sure that what you are attracting people
with, your webinar topic, is directly aligned with
your course topic that you're selling.
And you can literally like choose the name of a lesson
from your course and make that the name of the webinar.
Something that's just so spot-on.
so that there's no confusion about what the offer is.
- Yeah, you definitely wanna make sure
that the people registering for your webinar
are your ideal customer for your product or your service
so you have to go through that and almost backwards in away,
knowing this is what I'm trying to sell,
where is my customer in their journey right now?
What questions are they asking?
What things are hanging them up right now?
So that, then, I can answer that question
and then they see this whole resource that can answer all
their other questions.
So, if you...
I feel like this is a theme with courses as well
just your messaging being on point.
And, so, I think if you ever do a webinar
and maybe your conversions are lower than you think,
one issue could have been your messaging or the alignment
of your topic and your offer.
- Definitely, so, our second tip for making sure
your webinar is profitable is to make sure
that you start the pitch at 30 to 45 minutes
into your presentation, no later.
So, definitely no later than 45 minutes in,
do you wanna be transitioning into the pitch part
of your webinar.
The reason for this is that, after 45 minutes,
you are gonna see a real drop off in people who,
just because of the timing they have to go.
So, you're gonna have people saying like, "Oh, I have
"to go pick up my kids, so sorry.
"But I'll watch the replay."
And you are like, "No wait, I have a special offer."(laughs)
What happens is, after that 30 to 45 minutes,
people have to go and move on
and some people just get bored and leave.(laughs)
So, really, you wanna be respectful of everyone's time
and start your pitch at 30 to 45 minutes into
your presentation.
This is gonna allow you to get like the max,
get that pitch in front of the most amount of people
who are interested in your topic.
If they'd stayed that long, they're most likely interested.
- Yeah, definitely.
And the third tip is to make sure you, this is my favorite,
is to make sure you visually show the offer.
So, on your slides, that you're talking over
or if you're maybe doing a screen share,
maybe you can show an image on your screen.
But how can you make your offer tangible and real?
One of our favorite things to do is,
every time we're going through the pitch
and we're showing different products or bonuses
that are included, we have like a mock up
of the actual products.
So, even if it's a digital product, which most of ours, are.
It's still a mock up of it.
Like in a device or like printed out
and so that way they're looking at it
and you're not just hearing the words,
they can actually start to visually see this value add up.
And then last slide, we have it all there.(laughs)
So it's like,
look at all things together. - All these glamor shots.
- Yeah, I feel like that makes...
I know for me as a buyer, if I don't have that,
I feel like I have a harder time seeing the value
in a more tangible way.
- Yeah, it's like the principle of, show don't tell.
Like you got a...
If it's more effective, for you to have a slide
that's just a graphic of your digital product or something,
that is on the entire slide, and you're verbally saying
what's included than for you to just have bullet points
of what the bonus does, right?
So, showing it like, here's a screenshot of inside
this extra bonus PDF or this is what you're getting.
You have to show, don't tell.
And that is really gonna increase your conversions.
I know that, when I first started doing webinars,
I wasn't really good at this because I'm...
Didn't have graphic designer
and I'm not really graphically inclined, so I was bad
at showing stuff but once I started adding screenshots,
it really did increase people's understanding
of what they're getting and seeing everything.
Even though, because it can be hard to show
a digital product, so you have to do your best
to show visuals that represent everything
that they're getting.
And we do have a checklist for you guys,
if you're interested in doing webinars,
we have a checklist that goes through everything you need
to do leading up your webinar and then even what to do
after webinar, so, what emails to send
out after your webinar
in the follow-up, which is something that we talked about
in the beginning of this episode.
If you guys wanna download that,
it's called the ultimate webinar checklist and it is at
webinarrockstar.co
- And it's free.(laughs) - And you can also get it
in the show note.
It's free, totally(both laugh)
should have said that right away.
It's totally free and you can also get in the show notes.
- Yeah, so if you wanna go to thefemshow.com/41,
you'll see a fully flushed out blog posted this.
So, if you are the type that likes to read things
to digest it, you can go there.
You'll also have the links to
that ultimate webinar checklist
and anything else we mentioned during the episode.
You don't wanna out on that webinar checklist.
It's a lot of awesome info in there.
And if you wanna discuss this episode with us,
in our amazing community of online entrepreneurs,
make sure to join our free Facebook group
at thefemshow.com/community.
- And if you like this episode, you should subscribe
to thefemtrepeneur show on iTunes.
Leave us a rating and a review when you do
because we appreciate it so much.
And if you're watching this on youtube,
you should leave a comment below,
so that we can talk to you and see what you thought
about this episode and remember to hit the like button
and subscribe to our channel.
If you have a question for us
that you want Megan and I to answer,
live in the podcast and give you a shout out,
go to thefemshow.com and submit your questions
and we will see you next week.
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