How to Make Money With a Free
Event
If
you’ve ever hosted a virtual summit, then you know how much work they can be.
You spend weeks planning, foot the bill for graphics and landing pages, shell
out for webinar systems, and pay for Facebook ads. Not only that, but you have
to invest time and energy in recording interviews and piecing all the
technology together.
Sure,
you’re adding lots and lots of names to your mailing list (at least we hope you
are), but if there’s no money to be made on the event, is it really worth it?
Yes!
Because there most certainly is money to be made, even in a free event.
Backend sales. One of the biggest
benefits of hosting an event is the opportunity to grow your mailing list, so
hopefully you already have an autoresponder that’s working well in terms of
driving sales and affiliate commissions. If not, then spend some time creating
follow-up emails that specifically promote your products and services, and
those of your colleagues and JV partners.
Upsells and downsells.
As
you’re setting up your summit funnel, be sure you’re adding in logical up- and
down-sells in appropriate places. Some common locations for upsells include:
·
Confirmation pages—this is the page
registrants see immediately after they opt-in, but before they confirm their
email address. Typically it will say something like “Check your email now” but
you can (and should) also include an upsell here.
·
Thank you pages—this is the page
registrants will see after confirming their email. This page tells them what to
expect next (dates and times of your event, where to log in, etc.) and like
your confirmation page, should also include something for readers to buy.
·
Downloadable content—if you’re offering a
transcript, workbook, or other downloadable item, remember to include an
advertisement for a related product or service.
Extended access. Many summit hosts
allow registrants to watch the event for a very limited time, and sell extended
access.
Repurpose the
recordings for paid products. Bundle your recordings with transcripts or other
related content and turn them into stand-alone products you can sell to your
list.
Just because your
initial event is free to attend doesn’t mean it’s not profitable. With a little
thought and planning, you can not only recoup your initial investment, but even
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