Since introducing Webinar Rockstar™, the number one fear I’ve heard from you is that you’re scared no one will show up to your webinar.
...Or that you’re audience is too small to have a successful webinar.
...Or that you can’t make money with an audience of 30 people.
Today’s case studies will put all those silly fears to bed. For good.
BECAUSE WEBINARS ARE THE BEST WAY TO MAKE MONEY WITH A SMALL AUDIENCE!
Conversions are the number of people who take action out of the total number of people in your audience.
Conversion can be how many people subscribe to your newsletter out of how much traffic you have, or how many people buy your product out of how many people are on your email list.
Webinars have higher conversion rates THAN ANY OTHER MEDIUM.
Where as social media is close to 0.01%, email is close to 1-2%, webinars can convert attendees into buyers at 10 - 20% and up - regularly, in any industry.
This is so important because it means the numbers are in your favor when you have a small audience. If you can get 50 people to register, or even 30, you can have a successful, profitable webinar.
WEBINARS ARE IDEAL FOR SELLING TO A SMALL AUDIENCE.
And this works for service providers, coaches, product people, designers, writers, you name it.
Two Case Studies: $17k in sales from a combined audience of 100 people.
Today we have TWO Case Studies.
These are two of my favorite webinar case studies from my friend and colleague, Jenna.
My Friend Jenna Soard from YouCanBrand.com was one of the first “strangers” I pitched about a joint venture webinar. I saw her blog, reached out immediately with an email about doing a webinar, and the rest is history.
$5,000 from an audience of 30 people - with webinars.
Jenna’s first webinar, which we designed and delivered together, was a huge success.
She did $5k on her first webinar using my strategies, then a whopping $12k a few weeks later.
But besides the fact that these numbers are awesome - is the fact that they both came from relatively tiny audiences!
It’s a perfect case study of what you can do with even just a handful of people and a successful webinar strategy.
So let’s dive into the details.
- Attendees: 30
- Sales: 5
- Price point: $997 (or payment plans 6 x $197, $1182 value).
- Revenue: $5000
One thing to point out is that on a webinar, 16% conversion rates are completely normal. This wasn’t some fluke (or worse, “luck”).
This is why why webinars are perfect if you’re growing your audience - you can still make the most of the fans and customers you do have!
Registration conversion rate: It’s about more than the numbers
The registration conversion rate for this webinar was the lowest I had ever seen, hovering around just 16% the entire time Jenna and I promoted it. To be honest, Jenna was feeling pretty anxious and “down” because of the low turnout.
She thought it would be a total flop.
The numbers were “low” compared to other webinars I’ve done mostly due to the fact that the webinar was only for Squarespace users, a small subset of our audiences, and therefore disqualified many people by default!
The topic of this webinar was 5 ways to grow your email list using Squarespace. It was part strategy (my strength) and part tech tutorial on a screenshare (Jenna’s strength) and really was the perfect marriage of my expertise and her specialty.
If you’re trying to come up with a webinar topic - think about how you can combine both of your expertise into a topic that plays to both of your strengths. What can you both talk about?
If you have “4 steps” or “5 tips”, how can you divide it up evenly so that each person gets to teach and show their expertise.
The offer: It’s all about PRICING!
The offer for this webinar was a bundle of our two products, Jenna’s Launch Your Space and my Your First 1K.
The offer was available for 24 hours, we added in exclusive bonuses, and the price was $997.
Jenna explained to me that $997 is a sort of magic number when it comes to pricing your products and pitching them on a webinar. You can have a profitable webinar with just a few sales, and if people really need your product it can be a decision made within the 24 hour offer period.
My only advice for this is that if you DO offer a $997 product, which Jenna has had so much success with, don’t get discouraged if people don’t buy the offer during the webinar, within the hour.
Most likely a purchase of that size will need a few hours or a day to think about. So for Jenna, most of her sales come from the tail end of her promo period - towards the last few hours of the offer before it expires.
But Jenna’s case study is proof that people will purchase a $997 product on a webinar - even if it is completely new to them!
Lessons Learned From Making $5k in 24 hours on Her First Webinar
Look at your pricing and do the math:
This webinar had pretty low registration conversion rates (less than 16%, where others converted at 75% - 80%) and the smallest audience and live viewers, BUT also had great revenue.
The high revenue comes from pricing (the product was $997 and high-value) and having a very targeted audience.
How can you price your product so that you’re making revenue from your audience even if it’s small?
A TARGETED audience is more important than a LARGE audience:
Because the webinar was specifically about Squarespace, it automatically disqualified a lot of people from registering. unlike other webinars I have done that were “platform agnostic”.
However, it also very strongly PRE-qualified that the people who did show up really needed a Squarespace solution and the product bundle we had prepared.
We had combined our two product topics/specialties into a topic and title that drew in the PERFECT audience.
Ask yourself: how can you pre-qualify your webinar audience to be prepared to buy, or make sure they are your ideal customers?
Making your webinar title specific and targeted can help you attract the right people that will purchase your product.
Break all the rules - and win anyway.
Joint venture webinars are my secret sauce, and the truth is that the way I do them and teach them is very unique and different from the way most people approach this.
Most joint venture webinars go like this:
One person is the designated “host” and the other is the designated “teacher” who delivers the training. In these typical joint webinars, only the host promotes the webinar.
Instead of it becoming a big event, it’s more like a “guest training”.
The way I do it, both people have equal roles.
Both parties promote the webinar event to their lists, social media, and on their blogs.
Both people are “co-hosts” or “co-teachers”, as opposed to one person just introducing the other and then letting the “teacher” give their presentation.
This way, both audiences are engaged with the new person they’re being exposed to. Both experts are teaching on a topic they are knowledgeable about and have complementary experience in.
Your Perfect Webinar Co-Host and Partner
Your perfect co-hosts have similar audiences, but non-competing products. Your perfect webinar partnerships are what we call “vertical market partners” - so you serve the same niche, but with different products.
How to do a killer joint webinar:
Come up with a clear outline before hand. This is a script of who will say what when. Include approximate times such as “5 minutes” or “10 minutes”.
Play to both of your strengths. I prefer joint venture webinars where BOTH of the hosts are presenting and teaching, as opposed to just one person introducing the other person and then letting them speak. Include topics that you can both speak about and teach on.
Divide the work fairly. For example, if one person is doing the back-end webinar set up, the other person can make the promotional graphics.
Split profits 50/50. Unless you have a set commission and it is strictly an affiliate arrangement, split it down the middle so it’s fair.
Make sure you are both clear on promotion tactics and expectations. Are they promoting it to their list, or just on social media?
Case Study #2: Jenna Makes $12k in 12 Hours from a Webinar (And the ONE THING you must do!)
Originally, I was only planning on just sharing Jenna’s $5k webinar case study.
I mean, the fact that she did those numbers from an attendance of 30 people is AMAZING!
But then Jenna did another webinar and I told her I just HAD to share this with you.
First, let me give you a little bit of background.
A few days ago, Jenna did a joint webinar. After the success she had with my methods in the past, she had high hopes for this one too. She also wanted to see if she could have the same success on her own - without me as a co-host.
But after the webinar ended she emailed me - “no sales :("
When I asked her about it after, she explained:
“Internally I felt a little defeated. I mean the training went on for 3 HOURS, people seemed to love it, and the 70 people showed up stayed for 1.25 hours of it, and 30 of them stayed for the ENTIRE thing.... But I still really fought back feelings of FAILURE…”
- Jenna Soard, You Can Brand
What went wrong?
I looked at her pitch, bonuses, etc and saw one big omission.
Her post-webinar emails - THE MOST CRITICAL PIECE OF THE PUZZLE - were missing.
I quickly sent her my strategies for this.
I told her to do 3 very specific things in the next 12 hours before her offer ended.
And two days later, she emails me. This time, with a different message.
“$12k in sales. From those emails. Holy SHIT.”
Yep. $12k from ONE webinar. Holy shit is right!
(Another amazing thing to note - this was from an audience of just 70 people. 70!! That is TINY! Incredible).
After implementing the THREE critical post-webinar steps covered in Webinar Rockstar™, Jenna woke up to this:
Learn how to create, promote, and profit from your own webinars in my step-by-step masterclass, Webinar Rockstar™.
You need ALL the pieces to put on a successful webinar. Doing a live broadcast without the strategy behind it is not going to work.
You need to know how the four phases work, how to pitch, and the critical steps to increase your sales in the hours after your webinar.
That’s what Webinar Rockstar™ is all about. Showing you exactly what I do to get these results. It’s a “masterclass” because it teaches you the strategy, the tech stuff, the sequences - everything.
Here’s what Jenna (YouCanBrand.com) - who turned her webinar into a $12k day with my strategies - said to me after turning what looked like a flop into her most profitable webinar ever:
“The most exciting part about all of this? This was the highest grossing webinar I've ever had, it's almost 50% of the revenues I made my entire last launch that took me SIX MONTHS to put together, and here it all happened within 3 hours, and 24 hours of waiting.
I didn't do a single Facebook ad, or pay a Facebook consultant, like I had the previous launch. No launch videos. Just a joint venture webinar with a complementary product and a LOT of value leading up to it.
Mariah has taught me everything I know about joint venture webinars, and this is proving to be GOLD in regards to list building and sales, even more so than traditional video launches. Webinar Rockstar™ is an AMAZING program about how to do joint venture webinars.
You must get this program, it is straight up ah-ma-zing!”
I asked Jenna to explain why she thought this webinar went so well.
And we came up with this:
The FIVE things you need to kill it with webinars:
“$197 a month for payment plans is also a magical number. I had created super affordable payment options.”
“Price high with something that's worth a lot more.” She uses a $197/month for 6 months payment plan in addition to her one full payment of $997 option.
This successful webinar was because of a combination of:
- People need the product
- It's a business write off (but if you’re not B2B no worries - you can still have profitable webinars trust me!!)
- It's cheaper than hiring someone (usually, in this case)
- It was something they've hired out for before and were disappointed, or they've struggled to get what they want
- Combine that with another topic they've struggled with - blogging, or list-building, or something else the same audience wants to know about...
Give them two for the price of one, BAM!
Here are the major takeaways:
- People bought because they LOVE the bundles. Bundles are a really good way to make your webinars more profitable, more fun, and more valuable to your audience.
- Craft the PERFECT bundle - meaning offer two products, or a product and a SERVICE, that compliment each other and help the same audience that would need both products.
- Make sure it is something that people need, and remember to educate them on WHY they need it!
- Both parties need to be promoting - not just one person pitching, and the other person hosting. It should feel like you two are a team who put something very limited edition and super special together.
Jenna also added:
“The reason why this worked so well is because in the instance with Christine (her second co-host), 50% of the audience were her fans, and 50% were mine.”
THE CRITICAL PIECE OF THIS PUZZLE:
60% of your sales happen in the 12 hours AFTER your webinar.
Really, it's all about the post-webinar email sequence.
Do you know what to do in those 12 hours?
We cover all of this and so much more (the tech set-up, pitching, promoting, bundles, and more) in my masterclass Webinar Rockstar™.
Joint Venture webinars, done the right way, are more effective than any other medium.
You grow your list, make twice the sales, create a sense of real urgency, and have way more fun.
The attendees get a ton of value, especially if you get in front of a new audience. Your sales are potentially doubled by your bundle offer, and the urgency factor means more sales and genuine scarcity.
Jenna and I will be hosting another joint webinar next week - and I’m excited to measure and share the results of this one as well.
Brainstorm one person you could partner up with for a webinar. Remember, the other party should either have a complimentary product, a service, or a software that appeals to the same audience.
Either you have a product and they have an audience, or vice versa, or both!
(I’ll teach you how to pitch them in Webinar Rockstar™, but for now just think of someone you would love to team up with!).
Webinars are the most profitable, effective thing I do for my business.
My strategies have been tested on many of entrepreneurs in all different niches - and they work because they are unique, practical, and based on real experimentation - not just ideas or theory.