Your monetization strategy may include a direct path to profitability (like directly from any sales made from a product discussed during the webinar) or your profit may come indirectly from your increased authority status as expert on a particular topic or. Let’s be honest — it’s nice to have both!
I’m a big advocate of repurposing as much of my content as I am able, as well as making it serve more than one purpose, so you may implement multiple strategies in your monetization plan.
1. Turn the webinar into a paid course. Each webinar provides a mini-education on a chosen topic. Divide your webinar into bite-size modules of 10-20 minutes each to make it easier to absorb your material. To add value to your webinar, include a couple of worksheets, 1-2 related webinars, and a few supplementary reports to a “member’s only” area of your website.
2. Sell products related to the webinar. Selling a product at the conclusion of a webinar is a very effective way of making money off your webinars. Your customers and followers just spent an hour or so learning about a topic and they are now eager for more information. Offering them easy-to- access products that provide more in-depth content and strategies about the webinar topic makes it seem as though you’re doing them a favor, but you’re actually earning a profit from these products.
3. Earn from your affiliate links. Affiliate marketing via products for which you are an affiliate is another great way to monetize your webinars. With affiliate products, you earn a set percentage off the sale of each product. During the webinar, you make the affiliate product link accessible to them and mention it during the webinar. Additionally, if you choose to record and use the webinar in the future, keep the link active, as you will be able to continue to make money off the affiliate link for as long as you keep letting others access the webinar.
4. Sell your next webinar. While you’ve got everyone gathered in one place listening to you, plugging your next webinar is a great idea. If your participants got great value from your current webinar, they will be more likely to attend your next one. Let them know about it, and offer a discounted fee for those live on the webinar, or some other bonus to get them to enroll.
5. Get a sponsor. When you hold a webinar, you’ve got a captive audience. Other companies want access to that captive audience, and may be willing to pay you as the sponsor of your webinar. Sponsors usually will ask for things like a prominent display ad on the webinar promotion page and a number of verbal announcement at predetermined points in the webinar. They may even want access to the participants. Sponsorships can ease the burden of the cost of a webinar and even boost the authority given to the speaker.
Creating a plan to monetize your webinar is smart and sensible. By doing so, you’re actually helping your customers get more information about products or services that may be able to help them achieve their goals. From the more complicated sponsorships to quick product promotions, you can use multiple strategies simultaneously monetize your webinar.
Best-selling author Donna Gunter works with successful business owners who are experts in their fields and established in their industry and are seeking a way to stand out from their competitors. Using her Ideal Clients on Autopilot System©, she helps them determine the exact strategies to generate more qualified leads and better-paying clients with automated systems. This proven system makes all their marketing easier and more effective and they find themselves positioned as the only choice for their clients.