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Not only must you worry about the physical limitations of your webinar software and server, but the schedules of potential attendees as well. You may see fewer attendees than you expect because people are busy at the time you schedule your webinar.
It’s possible to record your webinar and distribute it to people who cannot attend, however conversions on recorded webinars aren’t likely to be nearly as high as during the live broadcast, because you can’t have viewers of the recorded webinar interact with you as they could during the initial live broadcast.
Doing the Math
Before you plan your webinar, it’s important to do a little math to be sure your webinar has the best chance to be profitable. (In other words, worth your time.)
First, figure out which product you’d like to promote. Ideally, this should be a product that you’ll make at least $100 in commission from, though higher amounts would be even better, obviously.
However, don’t choose a product solely based on its commission. It’s better to choose a product that makes a bit less commission and converts much better than to choose a product that has a very high commission and won’t convert at all.
Let’s say your product will make you $100 in commission. If you want to make at least $500 from the webinar, you know you need to get a total of five sales.
You may not know the exact conversion rate of your product, but you can estimate it. A 5% conversion rate is a good starting point as an estimate. It helps greatly if you’ve tested the product already, or if the product owner has released public information about its overall conversion rates, but 5% is generally a safe estimate for most products.
In order to get five sales at a 5% conversion rate, you need a total of 100 people in attendance. You could make more, or you could make less. But getting a minimum of 100 people to attend would be your goal.
If you have a high-converting product that gives you $500 commission, you would only need one sale to earn what you desire. This means a higher-priced product would require much fewer attendees.
Automated webinars make it easy to set up webinars at times when you cannot theoretically be in attendance. This is great for providing access to people on varying schedules and all around the world without having to be there constantly.
You may wonder why it makes sense to do an automated webinar when you could simply do a single webinar, record it, and offer access to a video There are many reasons to use an automated webinar system instead of simply offering a video recording:
1. People are much more likely to attend when they feel they are on a time constraint because they don’t want to miss the event. If they are given a link to download a video, they are likely to put off watching the video until “later”, but “later” is likely to never come. People tend to procrastinate unless they have a set timeframe for something.
2. People tend to perceive the value of a live webinar as much higher than the value of a single video, even though the information is technically precisely the same.
3. A video recording does not allow audience participation of any kind. Some automated webinar scripts allow audience members to chat with one another and also chat with you if you are available at the moment.
4. A recorded video cannot be set to play at a specific time so that late attendees believe they are attending a live webinar. However, with some automated webinar software, the video will begin at a specified time, and if people are late or leave and come back, the video will not resume from the same place they left off, giving the impression of a live broadcast.
There are many different automated webinar systems available. Here are a few of the most popular.
>> http://www.EvergreenBusinessSystem.com – The Evergreen Business System is one of the most popular automated webinar systems. At $497. This system delivers a tremendous number of features, most of which cannot be found elsewhere. For an additional $97 monthly fee, you can also run an unlimited number of live webinars using their servers.
>> http://www.StealthSeminar.com – The Stealth Seminar system charges as $97 registration fee (after coupon), and then an additional $69.95 per month. While this is cheaper upfront than the Evergreen Business System, you will find that it lacks some of the features people want in a webinar host. However, it does integrate with almost all major autoresponder systems.
>> http://www.EasyWebinar.com – Easy Webinar is only $297 for a 10-domain license. It is less costly than other systems, but again it doesn’t have quiet as many features as the two listed above.
Planning a Webinar (Structure, Pitching an offer)
Planning the full webinar before it begins is absolutely essential. Without proper planning, you’re likely to end up with long periods of dead air or being unable to answer questions posed by attendees, which can throw off your webinar and cost you conversions/sales.
There are several different formats you can choose from for a webinar. Different formats have different benefits, so you may want to use different formats at different times based on your needs.
Let’s take a look at some of the various formats and their benefits and weaknesses:
In the single speaker format, one person does the complete presentation and may ask the attendees questions or answer theirs.
One major benefit of this particular webinar type is that you won’t have to train multiple people how to use the webinar software. Additionally, you don’t have to worry about timing and coordinating multiple speakers, or having presenters talking over each other answering questions.
The biggest potential drawback of the single speaker format is that sometimes people are reluctant to interact with a single speaker, because they feel it can be a bit intimidating, because the single speaker becomes somewhat of an authority figure. However, this is also potentially beneficial, because if you are seen as an authority figure, people will be more likely to take actions you recommend or request, such as buying a product.
The interview style webinar involves two or more people working together. One person is usually the interviewer, and that person interviews one or more other people.
Some people find that hearing several people at once helps make a webinar more interesting. Also, since the interviewer is asking the other person questions, many times this encourages attendees to ask questions, increasing interactivity.
This means you’ll have to ensure everyone is able to use the webinar software, including the interviewer and all interviewees. You may also run into scheduling conflicts, because you will have to coordinate multiple people to run the webinar.
A moderated panel has several people online at the same time with one moderator who ensures only one person can speak at a time. This is done either through the software itself, allowing the moderator to mute everyone who isn’t currently speaking, or in the same way a moderator facilitates a live discussion, by giving individuals permission to speak.
Like the interview style, this type of webinar allows users to hear different perspectives and different voices, which makes the webinar more interesting than a single speaker style.
However, as with an interview style, you’ll have to ensure all parties know how to use the webinar software and be careful of any scheduling conflicts. But perhaps the biggest challenge with this format is keeping the conversation flowing well without people talking over each other. The moderator must take great care to keep things organized.Other Details
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