Remember I was doing each of these live. It soon became impossible to remember what I had to teach on each day. So, I was forced to pre-record the entire series, automate it, and let it play the correct session to each group. The only way they could listen was to the pre-recorded sessions.
My life changed for the better instantly once I moved to pre- recorded.
Did I lose people? Did I get, as I feared, negative comments? Nope—not a single person complained or left because of the pre-recording.
From time to time I still do live webinars. I mostly do them in order to have a live audience keep me on my toes as I record the live event. I then have a pre-recorded webinar to use as I want.
I’m still a big fan of pre-recorded webinars. They work for me 24 hours a day, seven days a week. They work for me when I’m traveling, when I’m sick, when I’m with family and friends; they just keep on working.
All I need to do is feed traffic to the beast, and today’s technology enables me to automate the driving of traffic!
So, I can spend my time creating new products and improving existing ones. If you’re not doing webinars you need to start now; if you are doing webinars you need to start doing more!
Why do webinars work so well? Aside from the fact that you can automate them.
Webinars enable you to spend a good amount of time with a lot of people. The more time you spend with people the more they get to know you and trust you. By watching you and listening to you, they get a feeling for you as an individual.
A typical webinar is 90 minutes (some are longer, and some are shorter). That gives people time to judge you. Are you believable, funny, interesting, knowledgeable? Those are all things that help them decide to buy your product or continue on with the course they have already bought. This quality time you spend with people on webinars is what makes them so effective. If you don’t utilize webinars in your business, you have a problem business, you have a problem because their conversion rate is much higher than anything else.
When it comes to marketing on the internet all things are NOT created equal. Webinars have a very high conversion.
Let me give you an example.
Let’s say we send a person to a sales letter on our website. If we’re a decent copywriter, we can expect a 3% conversion rate on that.
Let’s assume that we’re selling a $100 product and getting a 3% conversion, so three people out of every 100 people we send to the page will purchase our $100 product. That’s not too shabby.
But here’s an interesting fact—the higher the price of your product the lower the conversion will be.
Here are some rough numbers for conversions on a sales letter. On a $100 product you can expect to convert 3% to 5%. If you have an amazing sales letter, you may even get up to 10%.
But as the price goes up to, let’s say, $250 to $500 your conversion will go down to 2% maybe even 1%. Once you get to the $2,000 price range your conversion will drop to the half percent range.
There is one exception here. If you are promoting to your own list, to people who already know you and have purchased from you before, your conversion will be higher. But you can only promote solely to your list for a limited amount of time. People drop off, or they already have all your products. So, you need to continually drive new traffic to your list and then you will experience the rates above.
Many times, people will brag to me how amazing their conversion rates are. The first question I ask them is, “who are you promoting to?” Invariably they reply with, “I’m promoting to my list”. I always tell them, “Of course you’ll have high conversion to your list.”
What they don’t understand is that the real money is marketing to the vast number of people who are NOT on your list.
When it comes to marketing on the internet all things are NOT created equal. Webinars have a very high conversion.
“The people on your list are only a very minor part of the people who could buy your product if they only knew about it.”
Let’s take that same example only this time we’ll send them to a webinar. Instead of 3% conversion, on a $100 product, we can expect a 15% to 20% conversion, maybe even a 35% conversion!
What would it look like on a $2,000 product?
I have a $2,000 product that I am promoting with a webinar, and it’s converting between 20% to 27% and has consistently been converting as this rate for nine months.
All I do is drive traffic to the webinar page, where they opt- in to listen to the webinar. So not only am I waking up in the morning to two, three or four sales, at $2,000 each, I’m also building a list! This is a great way to start the day!
Can you do a webinar? Of course, you can. You don’t even need to be on camera. A standard webinar, for the most part, can be as simple you talking with a PowerPoint being displayed on the screen.
Now here’s something that most people don’t get…are you ready? Grab a pen and write this down or highlight it here in Traces because this is what most people don’t understand.
You don’t need just one webinar, one webinar is great, and if you’re doing a webinar and promoting a product that’s fantastic! And you should keep on doing it.
But what’s wrong with having two webinars, three webinars or five webinars working for you 24 hours a day, seven days a week? All you need to do is keep feeding it. You see, once you have the presentation and the backend systems all up and running, it’s just a matter of driving traffic to these webinars.
Typically, I sell a $2,000+ product on my webinars. Here’s the cool part about that—just one sale can literally fund our advertising for an entire month for that one webinar. And that
$2,000 webinar could easily bring in $50,000-$100,000 dollars for you.
Bottom line, if you’re not doing webinars, you need to start doing them.
