Virtual summits are powerful on their own, but adding a high-converting funnel into the mix? You just brought it to a whole new level!
We're chatting with Kate McKibbin about how to increase your virtual summit profits through a well-positioned funnel. She'll cover how to do this both as a host and as a speaker to help you see maximum profits.
Look at a Virtual Summit as Part of your Overall Funnel
The first thing I want to cover is a slight issue with the way we look at virtual summits. We tend to look at them as a standalone way to make money and get visible because they can be so profitable and so powerful.
BUT, there is a huge opportunity to use them to lead into other offers, to fuel our funnels, and be a part of our funnel other than just the entry point.
When you create a virtual summit, you're attracting super-targeted people and you've spent time creating a great relationship with them. Just because the summit ends, doesn't mean that these people are suddenly no longer interested or don't still need your help.
One great thing about a virtual summit in your funnel is that it caters to the fact that some people (aka your summit attendees) are ready to go right now, some people need a couple of weeks.
If you don't have that funnel in place, it's leaving money on the table.
Using Funnels to Increase Virtual Summit Profits
Using a webinar funnel has been proven to be one of the best converting tactics for evergreen sales.
It allows you to:
- connect
- communicate your message
- showcase what your offer
- show solutions
- gain trust
- make the offer
Create a webinar that is seen as helping people figure out their next steps to take action. If you can create a webinar that has that kind of premise, then you have an offer that makes sense to help people with that action plan or taking those next steps.
You add building blocks as you go.
Using a Webinar After a Summit
Tailor your webinar as a follow-up after your summit. Kate's summit was broad; learning to do your business online.
The following webinar, a week later, helped attendees create a 90-day marketing plan; taking what is learned in the summit, figuring out your best tactics, and mapping out your plan.
Pricing an Offer after a Virtual Summit
Between $500-$1000 are the highest converting price-points with an evergreen webinar. The outside ranges are between $200 and $2000.
But most importantly, the offer has to make sense for your summit.
Making sales through summit speaker opportunities
Many virtual summit hosts will give you the option of pitching something either free or paid after your summit presentation.
Keep in mind that pitching a great freebie will get people on your email list, while pitching a paid product or service won't do much for you. You need to build more trust before people will buy.
Thinking in terms of your funnel, you are getting people into your funnel by giving them a freebie versus only a limited amount of people who would buy a paid product. Give people a week to absorb all the content and figure out their next steps.
Having 20+ speakers pitching them right away during a summit can be overwhelming. Create a simple plan to avoid an avalanche of unsubscribers post-summit.
Once you're ready to pitch, invite them to your highest converting event, such as:
- webinar
- podcast
- flash sale
- challenge
- mini-class
Another tip is to give different opt-in options. Mention your free masterclass. Have a separate landing page to give people a couple weeks of lead-in before you direct them towards your main funnel.
Track where people are coming in from to see which products or funnels are working best.
Think of your funnel as an engine
A lot of people think that a funnel is for later, that it has to be complicated, or that you have to create a perfect launch before you can create one.
Think of your funnel as a little engine, running in the background. This little engine can be making even just one or two sales in a week. It doesn't have to be massive. Keep it simple.
A funnel is one of the best investments you will make for your business!
About Kate
I am a super-tall, super-nerdy serial entrepreneur, who is obsessed with helping female business owners to fall in love with (and make lots of money from), simple, sleaze-free funnels. My superpower is helping women to find and automate the sweet spot for their offers, so they can get their client amazing results, help more people and make more sales than ever before, all while working less.
Kate McKibbin | Free Masterclass
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