How to make a profit with virtual summits, Hosting a Virtual Summit is a massively rewarding and amazing experience for everyone involved. It’s a live, organic piece of real-time online marketing. What I mean by this is that it gives you the opportunity to engage and build your online community, tribe in a significantly short period of time in comparison to traditional social media marketing.
In January this year I hosted the List Building Challenge a two-week online virtual event. With 10 Expert speakers including myself, we came together to provide a shared learning experience focusing on our expertise. In just two weeks, we attracted just under 500 pre-quailed leads from around the world plus kicking off an engaging community.
By creating real-time engagement, you build not only trust and credibility super-fast, but position yourself online and get out into the marketplace faster with tremendous impact.
As they say the money is in the list and Virtual Summits are one of the fastest ways to build an email marketing list by the thousands and hundreds of pre-qualified leads.
Nuts and Bolts
There are some absolute fundamentals when it comes to planning your yearly Virtual Summit.
Always work backwards… As they say, start with the end in mind.
Profiting from hosting a virtual summit is a key driver, but it’s not the only reason why small businesses would make good use and the leverage of a Virtual Summit.
Host a virtual summit and you are guaranteed
- To bring you thousands and hundreds of Pre-Qualified leads FAST
- To position you in the online marketplace FAST
- To increase global reach and brand recognition FAST
- To build a responsive and engaging community – tribe FAST
In comparison to hosting a live event, you save on venue, catering, materials, hotel and staff costs. Plus, you don’t have the high costs of paying for advertising and marketing leading up to the event.
The marketing strategies used are low cost and no cost for all involved. It’s a collaborative piece of work that enables a small business to leverage their connections and network and vice versa.
How to make a profit hosting a virtual summit
When it comes to making money from a virtual event there are a number of different ways.
1. Create a prepaid ticketed summit, predominately used by established brands, similar to a live event where you have to pay a fee for your virtual ticket to get access.
2. Create access passes Bronze, Silver, Gold, more commonly used for small businesses, gives you the opportunity to add more perceived value.
- Bronze – gives you instant access to all the expert interview recordings in a training portal and downloadable as an MP3.
- Silver – up level and receive all the recordings a live training day.
- Gold – add in additional bonuses with the MP3s and live training day.
3. Up-sell into a higher priced product or service on the live training day
4. Create a passive income with affiliate marketing, this means if a speaker makes a sale from speaking at your event then you receive a percentage of the sale.
5. Sponsorship alone could cover the entire costs of the virtual event for your levels.
- Bronze – logo on the website.
- Silver – logo on website and all marketing material.
- Gold – logo on website, clickable banner on all-digital marketing material, plus free access to your live event with a 45-minute speaker slot.
6. Use clickable banners to integrate your product or service within the digital marketing leading people to a clean sales page that reflects the event and offer
7. Speaker joint product bundles are often used as incentives when access passes are purchased
Virtual Summits THRIVE on a collaborative mobile, they create a win-win for everyone involved. Do they have the power to replace live events? NO, nothing beats the human connection of a live event, but what they will do is enable you to attract an influx of pre-qualified leads without breaking the bank.
P.S. Looking to host a Virtual Summit in 2015/16 then don’t miss the NEW webcast.
Here’s Just A Taste Of What You’ll Learn…
- The top 5 reasons to host a successful Virtual Summit
- The NO.1 Virtual Summit to host
- Why and what your Virtual Summit needs to be focused on to give you the best high-value leads
- The cheap as chips nuts and bolts which will save you thousands