In the digital world, people can make money doing just about anything.
Activities that used to be considered frivolous are now some of the most sought after vocations in the world; just ask any YouTube superstar.
Video has become so popular online that these influencers earn hundreds of thousands for creating sponsored content.
But YouTubers aren’t the only video lucky ones pulling down the big bucks.
In recent years, webinars have become a serious money maker for people all around the world. And there are various ways to generate cash through this powerful forum. In fact, webinar service provider ClickMeeting just published a free eBook on how to make money using webinars that features a ton of viable options.
Since this technology provides such a diverse array of avenues for building an income – passive or otherwise – I want to help you understand how webinars can be leveraged as an entrepreneur’s sole source of income.
1. Promote a Product Demo
This is probably what you think of when you imagine hosting a webinar. The process is prominent, and it works.
ClickMeeting’s eBook describes the reason for the prevalence:
“People usually don’t know what they need or what they’re looking for until they see it demonstrated. They have a variety of brands to choose from and many sources that influence their decision process. So today’s customers rely on product demos. A product demo webinar provides a hands-on experience where the prospect can see what they could get from the product, ask the presenter questions, and get more insights than they would from a marketing slogan or product brochure.”
Regardless of what niche you’re in, there is an abundance of competition. Product demos allow potential customers to compare and contrast the pros and cons of each offering and reach an education decision.
Product demonstrations allow consumers to see the product in action so that they can truly determine its value as it relates to them and their needs.
No matter if your company sells physical or digital products, this model works extremely well.
And if your business’s products often require you to draft sales quotes, proposals, and similar forms (like many B2B brands), you may want to consider using a proposal software service to cut down on the amount of time spent on this task so that you can get back to selling through your webinars.
2. Help Coach Others
In the field of entrepreneurship, many are struggling to get by or even see the vision. If have the expertise and experience to host webinars, use the forum as a platform to sell 30-60 minute coaching calls.
Potential customers are fully aware that such private settings as a 1-on-1 call allows them to ask an endless stream of questions – some of which might embarrass them in a more public environment – in a safe and supportive context.
Not only does this method generate a significant income, but it also helps you build trust with your audience members. It can also position you as a thought leader in your field.
Moreover, leveraging this technique allows you to turn your customers into brand advocates who can then help spread the word about your awesome services.
Another benefit of selling coaching calls is that it becomes far easier to sell any of your other propriety products that would integrate with your customer’s needs.
3. Sell Your Online Course or Website Membership
Considering that more than 55 million Americans – or 35% of the country’s workforce – are now freelancers, online courses have exploded in popularity to become a multi-billion dollar industry.
If you have cultivated the expertise and knowledge to improve the skillsets of others, don’t give that away for free. I’m sure obtaining it wasn’t free either.
The ClickMeeting eBook describes online courses as, “. . . your own online university, where each student pays tuition to attend your webinar courses and gain knowledge.”
You could use webinars as a format to promote your online course or even as the dedicated platform for your teaching sessions.
Through either method you are giving people the opportunity to pay in exchange for valuable knowledge that can help them build a business, become a better marketer, or whatever other skill they are looking to learn more about.
Alternatively, you could take the same approach to selling a membership program on your website where people can access premium content, have questions answered directly by you, and interact with others who are pursuing the same goals and learning tons of valuable lessons along the way.
4. Host Industry Experts
If you don’t feel like you have yet attained the clout to call yourself an industry expert, you can still make a sizable profit from your webinars by obtaining several industry experts and holding a live webinar event where these folks will divulge the secrets they have learned over the years.
Consumers within a given niche will often pay top dollar to see notable authorities speak about how the audience can accomplish the same feats that they have.
After the webinar has ended, you can continue making money from the event by selling it on your website.
The best part of this tactic is that the experts you acquire for the webinar will also have a vested interest in promoting it. This will help to introduce your personal brand to entirely new audiences that you can obtain email addresses from which then expands your sales funnel.
If you do opt to go this route, the aforementioned eBook goes in depth about how to successfully use guest hosting speakers too.
Takeaway
Webinars are a powerful format capable of generating significant income. Leverage the expertise you worked hard to obtain through these various techniques, and you’ve just found a very viable revenue stream for your business.