Webinars are one of the very best ways to spread awareness about a service or product or to train a person or group how to do something. One great aspect of producing or hosting webinars is their revenue potential. Here’s a look at ways to increase your association’s webinar revenue and online event revenue.
The most obvious way to make money from hosting a webinar is from registration fees. However, since many businesses use webinars as a free offer, your content has to be above what attendees typically receive from a free webinar.
If you have an association that has members, offer the webinar free to members or at least at a discount. If membership to your association requires a fee, a non-member might even consider joining the organization just to get the member-discount for this event plus any future events.
Quality Content & Recruitment
When an organization or association provides good quality content in webinars, it helps bring attendees back in the future to attend more quality webinars. Also, people are more likely to spread the word about a quality event which should bring in even more attendees.
Dr. Amanda Batson, an education architect and consultant says, “The potential is huge for association eLearning to become a profit center or growth generator. Beyond financial revenue, quality eLearning can grow membership…“
When an association knows what members value and gives it to them, they can use the value-added content to recruit new members and increase member retention. eLearning programs can consist of webinars, courses, and online conferences, and they all support member retention and recruitment.
After Event Packaging
When your online eLearning event is finished, now you have an opportunity to allow that quality content from your webinar to work for you! A webinar has quality content that can be used to produce courses, additional webinars, articles, and other types of online content that can be packaged and sold as on-demand learning.
In a free on-demand training available in the iCohere Academy, Instructional Designer Tracy King shares how to strategically package and price your webinars and other online events to maximize revenue. >>>>>
After Event Consulting Projects
Often, after a webinar is completed, attendees will want to hire someone from the organization or association to provide consultation on the topic or some kind of analysis requiring a consultant. A webinar can serve as the first step in a much larger process and introduce your attendees to your expertise on the topic.
Series or Workshop
Sometimes the content of a webinar is so welcomed and vital to the needs of attendees, they will want more content that digs deeper into the topic. To accommodate their needs, an association can produce a series or workshop that will expand on the topic in more detail that will require additional fees. “How To” webinars often do well with a follow-up series or workshop.
As you see an increase in webinar attendance, seek opportunities for sponsors. Sponsorship programs can be set up to offer sponsorships for each webinar or for a series of webinars. Associations can add value to their sponsors by tying webinar sponsorships to other marketing channels.
When recruiting sponsors, there is a multitude of sponsorship levels and benefits that can be considered to find the right sponsor for your association. One modern way to recognize sponsors is to offer a short commercial somewhere during the event.
Learn more about increasing sponsorships for online events in this free training in the Unified Learning Academy. >>>>>
Growth Hacker Marketing
Remember Dropbox’s success with growth hacker marketing? They offered customers additional free space for every new person the customer referred to Dropbox. You can potentially add viewership to your recorded webinar version by signing on participants to be part of the sales force in return for free membership, cash back or some other type of reward. They might be able to find audiences through their own channels you may never have previously considered.
An effective way to increase your reach and revenues with new audiences is through joint venturing. This can be with influencers who target your audience, experts in the field or other businesses. Offer partners the right to show your webinar to their audiences, and you reap the benefits. Not only will you get more sales, but you’ll also increase your mailing list. This method has the potential to quickly grow your business.
Grow your webinars and eLearning programs with free training available in the Unified Learning Academy. Join the Unified Learning Academy for free to watch the trainings mentioned in this article, and gain access to more on-demand trainings, guides, and templates.
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