Why are so many small businesses scrambling to increase attendance to their next webinar? Because webinars, when done right, can be incredibly lucrative both short and long-term.
While attendance at most webinars is free, there are many ways to make money with a webinar that do not include selling tickets to the event.
Here are the top 5 most effective ways to monetize your next webinar:
1. Free Webinar/Paid Offer
Attending your webinar might be free, but that doesn’t mean you can’t promote a paid product or service. Most webinars begin by educating the end user with great content, and end by offering a paid product or service that will continue the user’s education or help them in a meaningful way.
2. Affiliate Marketing
If you’re using the free webinar/paid offer model, you can further increase revenue potential by working with affiliate marketers.
If a webinar attendee recruited by an affiliate makes a purchase from you, the affiliate will receive a percentage of the sale. This method gives you exponential earning potential because you’ll expand your promotion reach beyond what you and your team can do alone.
3. Pay-per-View Webinars
Once the webinar is complete, you can host the recording in a member’s-only area of your website and/or make it “pay-per-view.” This is a great way to repurpose the content and continue making money long after the live webinar is over.
4. Related Products/Service
If you don’t have a specific product or service you’d like to sell, you can become an affiliate yourself and sell other’s products on your webinar. Just make sure those products are relevant to the content of the webinar, i.e. yoga mats for sale on a webinar about meditation.
5. Paid Webinars
Finally, you can charge admission to your webinar. This tactic will be most successful with businesses that have already hosted free webinars and had strong attendance and conversions.
With a paid webinar, it’s more important than ever to make sure the content is valuable. Consider giving away discounted or free tickets as a promotion before the event. You may also want to give away free gifts (whitepaper, eBook, discounted affiliate offers) to all attendees who’ve purchased a ticket.
It’s absolutely possible to make money with webinars. The trick is to test and see how your audience responds to various offers and different strategies.
Keep in mind that they may be willing to pay for certain topics and not others. Don’t be afraid to reach out to affiliates and get assistance promoting your webinar. Above all, make sure that whether free or paid, your webinar is packed with valuable content that is useful to your audience.
Are you unsure about the length, content, design, or technical aspects of your next webinar?
Are you wondering how to get more attendees and convert those attendees to customers?