In this episode of the Freedom Ocean podcast we discuss how to use Webinars as a way to make money online:
- What is a webinar?
- What’s the best webinar software to use?
- How to run a successful webinar.
- How to re-purpose webinars for maximum impact;
- How to engage audience members during a webinar;
- How to use webinars in small business.
Products & Resources
Have you seen the Freedom Ocean Internet Marketing Products page? Everything we recommend lives here.
TIM: Welcome back listeners to another very loving episode of Freedom Ocean, Australia’s most loved Internet marketing podcast. And I’m your host Tim Reid and I’m joined with the other host with the most, James Schramko. Hello James!
JAMES: Good day, Timbo! How are you going?
TIM: Mate, I’m very well. You must be a little bit—what’s the word? What do you do when you travel all over the world in a very quick amount of time? You must be tired and jet lagged.
JAMES: No, I’m energized and fired up. Very focused.
TIM: Oh, I love that! Love it! I love the fact that you got off the plane and the next thing you’re when are we doing the next episode of Freedom Ocean. So you sound like many of our listeners who come through on Facebook and the show notes saying when are you going to do the next episode of Freedom Ocean? So that’s good mate—
JAMES: My airplane arrived first thing on Sunday morning then I just crawled into bed for the whole day and I’m ready to go by Monday.
TIM: Yeah. And did the pilots hate you or—I’m going extra quickly because I know you got another episode of the Ocean to do.
JAMES: You know, I did meet the pilot, which is strange because you sort of wonder who is flying this thing right now while I’m talking to the pilot? But luckily they have a little bit of automation and that might come up in today’s episode.
TIM: Yes, it might. Yes. Well yeah, quite. Today’s episode, we will no longer keep our powder dry. We are going into some depth on another business model, which in this case is the webinars. And you know, James, in fact, before we leave your overseas adventures, we should…maybe give us two or three top learning. Because you’ve gone off 10 days around the world, met with a few people, done a few seminars or workshops and I’m sure we could fill a lot of episodes with it. You’d probably go into some detail with FastWeb Formula 3, but what are your top 2 or 3 learnings, mate, that you’ve come back with?
JAMES: Okay, the most important thing is you absolutely have to get out of your own neighborhood and see what’s going on out there somewhere else. Even if it’s in the same town, on the other side of town or if you’re sitting at home, doing this Internet marketing thing. Go to a local meet-up. You’ve got to physically go and meet people in person and exchange eyeballs and talk and gather intel and get perspective. So I’ve just gone to 4 countries, 10 airplanes. I didn’t do it as a speak-up; I did it more as a participant and also a little bit of private networking with a few people that had been on my shortlist to catch up with. And I’ve come back with extreme clarity about what it is that I’m doing and where are my businesses going. And the best thing is it’s going to take my clones and copycats another year or two to figure out what I’m up to because I know what I’m doing, but they don’t. So I’ve got a strategic advantage again.
TIM: When you’re suggesting get out, just get out or be selective.
JAMES: I mean, this is funny but I’m actually now friends on Facebook with some of the people that I sat beside in the airplane. But I also got to observe things that were different than the last time I went to the same country. For example, in flights between, let’s say Dallas and New York, I observed that I good portion of the people in the airplane now got iPad’s or Kindles or some kind of portable device that they’re using in-flight. That was certainly not the case last year. So there’s a proliferation of personal devices. There are a lot of QR Codes in other countries—
TIM: Just on the proliferation of personal devices, does that mean that everyone creating websites now must make it a mandatory for their developer to make mobile-friendly?
JAMES: Forget the website part of it. I think the most important thing is media consumption. Okay, the Internet is just absolutely entrenched into society now. Every magazine, every newspaper. There’s QR codes in shop windows. The point that I got is it’s never, ever been as easy to reach every man, you know? The normal person. Like all the magazines have their reader app that you can download now, like the Wall Street Journal. And you can consume information on the go. So for me that means advertising opportunities, content distribution opportunities. So we’ll be on just the website. It’s how you get in front of these people. So I think the advertising medium is something that is very, very interesting because people are all switched on. They’re plugged in.
TIM: But I’ll ask you that questions again because I know we used it for a long time. It’s not about the website and I concur. But if you are going to have a website and I’m sure everyone listening to this show has one or is about to build one. I’m still going to a lot of different websites on my iPad or my iPhone and they are not mobile-friendly. When I do get to one that’s mobile friendly, it’s so refreshing because it makes the consuming of the media information really easy. So—
JAMES: You know what? I haven’t had the same experience because most of the website that I use when I’m portable. Sites like Facebook, Gmail, my bank, PayPal. I’m not encountering this lack of mobile-friendly sites.
TIM: They are all the big ones. All those—
JAMES: I really think listeners are kidding themselves if they think that people are going to their website from all of these portable devices. I think they go into the main websites and that’s where you want to be to draw them back. I don’t think it’s a massive issue. Like for example, the iPad, my iPad, it’s much easier to use with the browser than it is to use with apps, which you have to do on the iPhone. A lot of websites would have to have some sort of app or browser-friendly site. But for the iPad, it seems to render sites very well. The only real exception is the video. And I do suggest people use videos that will work on an Apple device, which the format that I use these days is m4v, but you can use mp4.
TIM: What about mov?
JAMES: Well, mov will work but it won’t work for normal people on their PC or desktop.
TIM: (laughs) Normal people! Hello to all you normal people listening!
JAMES: For those users, it’s not going to be very friendly.
TIM: The dark arts?
TIM: (laughs) Okay! Alright, one more observation, James, because I know you’ve got a lot and—
JAMES: One of the main take aways is I guess was the way that I collect together and then sort and then implement information. It’s extra compressed when you place a high value on it. So let’s just imagine that my trip away cost more than $10,000, okay? Then I’m placing a real value on that data that I’ve gathered: the intel, the conversations, and I strained and sort that into my ever notepad and then I put my ever notepad up beside my project stream, which is the way that I managed my work flow. And I start to bring in the nuggets. And the real key is to be fast with your implementation, so speed of implementation.
So speed of implementation of the key. I already started implementing things before I got home. So I got on the Skype with my team. I talked about new things or thoughts that I’ve had or innovations that I believe that would work for us and started them so that they were already implemented and harbored by the time I get home. And that is crucial. So I figured that a lot of people, they might do step one, get out, get perspective, go on travel but then they store that information or never implement and they might as well not have gone at all.
TIM: You say to me yesterday, you said workshops are for some type of person, Google and implementations are for another. Did you remember that—
JAMES: I was talking about Cogan, who’s a prolific retailer in Australia. I think he said that training is for people who want to look like they’re learning stuff and then Google is for people who actually want to learn stuff.
TIM: Yeah, that’s right! Yeah.
JAMES: Something to that effect, you know, via W Magazine.
TIM: It wasn’t specifically related to what we’re talking about, but the point being, you know, you can do all sorts of training and actually never get to the point of implementing, which I know a lot of our listeners are in that boat.
JAMES: Especially in bureaucratic organizations, they actually schedule training. And in itself, that’s not a bad thing but I think people spend a lot of time at work hiding from doing the work, from actually doing the things that are important. When you have your own business, it’s very, very stark. You know, you do the work or die.
TIM: Right! Correct. Now James, thanks for sharing that, mate. What were going to do, I’m just revisiting some earlier episodes and in Episode 2 you shared with us the Internet marketing business model with the most explosive growth. You then even went on to share another 4 Internet marketing business models. So then in Episode 3 we went over and discussed another five Internet marketing business models. Subsequently, we did an episode on we dug deep on some of those business-models like product creation like membership sites, like affiliate marketing-like. Like all business, video marketing, and we were really dug deep. And one of the business models that we mentioned but didn’t dig deep on because we are webinars and I’m pretty excited about this episode because you love webinars, You use webinars—I particularly love webinars, using them as a channel through distribute my master class at the moment. So that’s what we’re going to talk about for the majority of this episode. Webinars as a business model. So mate, you might want to start with that one.
JAMES: It’s such a big topic. Well, let’s just talk about what it is to start with. When you type in the word document, it still highlights it as misspelling.
TIM: Isn’t that funny?
JAMES: Maybe that’s still a sign that it’s on the early part of that business strategy and it’s got so much further to go. We really need infancy stages and I’m saying that as someone who’s been doing it for about 5 years. It’s still not widely known and only now my friends in corporate companies have sort of familiar with it because their budgets started to get cut back in corporate people stopped travelling in airplane up to head office. They would start to do remote meetings online, so it’s literally software where you can see someone else’s computer over the Internet rather than be face-to-face live. So for the purpose of this, we might talk about webinars are being the ability to have an event but from the comfort of your own home. Should we talk about that in that context?
TIM: Yeah, oh absolutely! From anywhere! That’s the beauty of it.
JAMES: Interestingly, I attend a webinar everyday and we run a little team webinar with our own team internally. So we get on to software called GoToMeeting or GoToWebinar, which I think is still probably the most accessible webinar platform for most people. It’s reasonably priced and it’s fairly well established and stable software, and still the one that I prefer. There’s a whole lot of other stuff in the marketplace. There’s a big buzz about automated webinars, but I still think there’s not many solutions that do that well. It’s early days and there’ll be a lot more refinement and a lot more progress in that regard. So generally the GoToMeeting or the GoToWebinar is a good starting point or listeners, if they want to—there are trial periods. And the cost depends on how many people you get on the webinar.
TIM: Yeah, I think GoToWebinar is 99 bucks a month on a month-by-month basis. But if you sign up 12 months, I get 79 dollars. Don’t hold me to this but I think if you sign up for the 30-day free trial, which is what you can get off their website. You can use it coming up at the end of the email, you were saying do you want to join. If you say no and wait a period of time, it might be a week or two, you will get an email offering a 20 or 30 percent discount. At least, that’s what happened to me last time I signed up. And I think if you search hard enough, there’s even a 45-day free trial.
JAMES: I think I’ve got an account rep who gets special prices. Perhaps listeners, in Australia only, if they were interested in that, then I could probably forward them the details.
TIM: So definitely, definitely there are many webinar software out there but GoToWebinar and GoToMeeting is certainly the most stable. It’d be good if they were a little more Mac-friendly, James. They still refuse to put the record button on the control panel for Mac users. The PC users get it. It’s not that problematic, you just got to remember to turn on Screen Flow if you’re going to record your webinar.
JAMES: Yeah, well that will work fine until you have a second person on the webinar, and then it gets a bit complicated.
TIM: Yeah, it’s still—I mean, I’ll be running these master classes up and running with myself presenting and someone else and a whole lot of people at the other end. It’s still completely possible. You just got to get your settings right.
JAMES: So we should just talk about how you sort of cover a little bit of technology. You know, what is a webinar and what platform might you use. But how would you use this is a whole bunch of ways, of course. It’s like any tool. You can use it a whole different way. Some people have built whole businesses just around this webinar concept where they use the technology as the platform. So they literally like they’re stage speakers at live events but now they’ve taken it online and they run it the same way. They get experts in, they sell tickets, sell the content, and then they record it. And then they sell the recordings later on. That’s one model. And there’s a whole different way you can approach this. You can either have free webinars as lead generators to bring in a whole bunch of people by offering some free valuable content. And then you can sell something on the webinar to make the money, or you could sell the value of the webinar
in advance and sell tickets to the webinar and then deliver the content as the prize or as the thing you actually sold and still sell on the webinar. So you can sell or not sell. It’s really the big thing we’re talking about here. And you can sell it before or after. There’s a lot of choices.
TIM: You have a preference? I just noticed there’s a hell of a lot—one of the problems with webinars in terms of the way that they’re positioned these days is that there’s a lot of people are giving away free webinars and to me it cheapens it a little bit because when you do say, you know, when I’m running a webinar it’s going to cost $99 to attend or whatever it may be. People are a little bit reluctant to pay. You have a preference? Which model?
JAMES: Well, I use both. Probably I’m more on the side of paid webinars. I’ve sold webinars for 3 years now. One of the first applications I used, I think pretty much the first webinar I ever ran was I already had a paid product that I’d sold and then I ran a free webinar for members only. And that was good because it made them feel valuable. It made them feel happy that they’d purchased from me and it gave value so it’s like a private, members only webinar. And then what I did is I took the transcript from that—and this is a hot tip—I took the transcript from that as a timeline. So I gave a time and then what was discussed in the webinar and I posted that as a blog post on the public site. So now my blog post had all these key phrases in it relating to my product and it mentioned that these things were covered in the webinar and the webinar is in the members area. And people went to click the members area, but if they weren’t a customer, they couldn’t see the webinar. So now I had this great sales device so they could see what was there but they couldn’t access it and I was bringing in search traffic on the key phrases that related to my topic.
TIM: If you could back a bit there mate. Just spell it out for me. You promoted a paid webinar to start with?
JAMES: No, I just ran a webinar to my existing customers.
TIM: Okay. A free webinar to your existing customers. You are educating or selling? What were you doing in that webinar?
JAMES: Just educating.
TIM: Educating. Okay. So existing customers get a free webinar that educates them.
JAMES: Now, even in educational webinar, you can still have an opportunities for affiliated sales when you mention a resource.
JAMES: That’s important. I can’t think of a webinar where there’s not an opportunity to further make a sale.
JAMES: I mean, this is a classic example. We’re on a podcast here talking about something. We’re recording but we’re mentioning resources that some people might want to buy. So there’s always an opportunity.
TIM: So you ran that free webinar. Was there a paid aspect to any of that?
JAMES: It was to paid customers, Timbo.
JAMES: Just the people who already gave me money.
JAMES: So it was an appreciation webinar. A further training webinar.
TIM: You transcribed it—
JAMES: For people who already paid me money.
TIM: You transcribed it and put it in your blog post?
JAMES: And then put it on the blog post.
TIM: And for people who—so people could read the whole webinar.
JAMES: Right. It was just a timeline annotation rather than a complete transcription.
JAMES: Which I think is actually a good tip. You better to do timelines than complete transcriptions in some cases because depending on the subject matter, it might not get the full message just to get a word for word transcription. But a timeline really helps people dig in to the part of the webinar that they’re interested in without having to wade through 90 minutes.
TIM: So how do you go about getting your timeline transcription? Is that something any transcription service would offer?
JAMES: Yeah. You literally just watch it and make a note every few minutes when there’s a new topic. So you could say “at 7 minutes 15, how to structure website for perfect SEO.” Now, when you post that timeline on your blog post, you now have the key phrase “How to structure website for SEO.” Now someone going to Google searching for “How to structure website for SEO”, they pull out your blog post because it’s exactly the correct content. They see that there’s this fantastic webinar that has that in it. They go to click on the webinar to watch it but it’s in the paid members area, so they’d need the product to see it. But they think, “Well, I’ll buy the product because it sounds like what I’m after and also it comes with this webinar.”
JAMES: So that’s one way. That’s running webinar to existing members. Now I still do that pretty much every month for my superfast results coaching. So that’s a paid forum where people paid to belong, but we run a value-added webinar each month and it’s a content webinar and we bring in experts so it’s very similar to your master class concept. We bring in an expert or we run it ourselves or we just have a Q&A one, which is, believe it or not, one of our most popular topics. It’s just Q&A, just to be able to get on live and ask questions off the top of their head. And we answer it on the spot.
TIM: I think Q&A is a great use of webinar technology. I think the opportunity, we got a number of clients who run webinars. Monthly webinars, you know, the last Thursday of every month, these clients client’s know that they can log in at 10 o’clock for an hour, hour and a half Q&A, ask any question that’s on their mind and know it will be answered by the boss. People love it!
JAMES: Well, it’s also a great value-add if you have some form of subscription or monetized membership because it’s something that you can commit to and it’s that leveraged one-to-many medium for an expert. So Timbo can commit to 1 hour per month or 1 hour per week where you could talk to hundreds or thousands of people at one time. And the leverage aspect of it is amazing! This is where you record the webinar and the n you can replace that recording somewhere, sell it or give it away, swap it with a JV partner or joint venture partner and get your name and your previously recorded work out there, working 24/7. I’m so interested in that concept that a partner in a project where we’re providing like a YouTube for webinars, where we have I think is called webinar.tv. And we’re encouraging people just to load up their webinars to it and it only plays webinars so that people can go on, pick a webinar on any topic.
TIM: Yeah! Wow! That’s powerful stuff! Yeah. The re-purposing of webinars is amazing. Like you just mentioned some of them, you know, transcribing them. You’ve been cutting them up, you know, if you run in our webinar for the client doing it at the moment, right? Running our webinar, paying it up if your YouTube allocation at the moment, and it seems to vary, but let’s say you got a maximum of 10 minutes of upload to YouTube, then carve your webinar up into 6 parts, you know, then you’ve got 6 minutes of content all linking back to your main site and—
JAMES: Well, you know what else he’s getting now? It’s 6 different videos on YouTube. He’s getting an internal linking structure that will end up generating him a strong page rank for his channel.
TIM: Yep! Yep.
JAMES: Yeah. It really is the concept on webinar.tv is you can load the whole thing up in one hit. But you can take a webinar that you do for paid membership and then turn it into an information product. I actually did that once with a webinar called “How to Run a Webinar”. I literally ran a webinar to my paid members on how to run a webinar then I took that recording and turned it into a little sales product. I think we put it up for $17 and we registered a domain howtorunawebinar.com and we put in a short sales then I put a $17 price tag and we sold that video by itself with the slides. And it sells pretty much every day.
TIM: Well, that’s on freedomocean.com products page and we sell a lot of those. The—
JAMES: So you can see exactly that concept of taking some content you’ve already got and re-purposing it into its own product.
TIM: Yep! And just—
JAMES: And you can do that with your master class with every one of the modules. With an upsell to the complete master class.
TIM: I like that. And to continue that re-purposing discussion, James, this is where I like Screen Flow because Screen Flow is such a simple piece of editing software but you can rip the audio and you can make a podcast out of it, out of a webinar. It just keeps going and going, doesn’t it? You could create an ebook from the webinar, you could upload to slideshare, which is a great place where there’s all sorts of presentations about all sorts of different subjects there.
JAMES: Something that I like doing lately is if you recall Traffic Grab was a pretty popular product.
TIM: Still is.
JAMES: It still sells every day, several copies a day. Well, I got a good friend of mine. He really specializes in affiliate marketing and I dug into the modules that relate best with affiliate marketers and a ran a tailor-made webinar just for affiliate marketers. Because that product really does work for product owners, affiliate marketers, local business marketers. So I just went into the affiliate marketing side of things and ran a special webinar just for his members. And we sold over 100 copies of Traffic Grab on that webinar and I recorded it. And then what I did is I put that recording into the auto-responder sequence for some of my other products.
So it says someone bought some website software, I can put in an auto-responder message that says, “Hey Tim! You purchased some software for building websites. You may be interested in a webinar that I ran recently. I’ve managed to record it and I’ve loaded it up to a page for you to watch here.” And then you put on a link. They go and watch the replay. So now you have this 24 hour a day, 7 days a week cash machine because they watch the replay and it percentages off people purchase. And the conversion on a webinar is usually much higher than a sales page because once they get into the event nature of it, it really feels like you’re live, even though you’re not. And you’re not saying you’re live. You’ve said recording. And just a side note, I really disagree with people who run live webinars when they’re not live. I think that’s just a sham. It really pisses me off.
TIM: Yeah. That is a sham.
JAMES: There’s a lot of that in our market for some reason. The people think that consumers are stupid and it’s not. It’s the marketers that are stupid. It’s just as soon as the customer figures out that they’re not in a live webinar, then they’ve blown their credibility. I wouldn’t blame the customer for never opening another email from that marketer again. Don’t lie to people.
TIM: There’s some software going around which I think is designed to 4 people whereby you’ll go to a website and say—and they’ll actually have a clock counting down, you know, like in 17 minutes, 6 hours and 45 minutes, another webinar will be starting on such and such a topic and it kind of lulls you into a sense of, “Oh cool! This will be live!
JAMES: Well, they’re not necessarily saying it’s live. I mean the—
TIM: No, no. But they’re—
JAMES: But they’ll say to people, “Look, how you use it is up to you but…” You can call it an online event because that’s true. I just wouldn’t say that it’s a live webinar, because that’s not true. Now I believe that live webinars have much higher value and I saw a large marketer yesterday put out an email for live webinar. And it didn’t want it to be live because I know that particular marketer runs a high level mastermind which is like $20,000 and it’s pre-recorded webinars. And I would be pissed off if I paid 20 grand to turn pre-recorded mastermind webinar.
TIM: But you’re saying the value of the live webinar because people can ask questions? Is there any added value there?
JAMES: I think because they’re not being conned. Because they could ask live questions. Live is live and pre-recorded is pre-recorded. For me, they’re very different. You see, when people push you to attend a pre-recorded webinar but they pretend that it’s live, they’re actually imposting on your diary. They’re making themselves more important than you. They’re saying, “Look, I’m more important than you. I mean, I forced you to attend this pre-recorded webinar but I’m going to trick you into thinking it’s live because I don’t care about you. I don’t value at all. That’s the way I feel.
JAMES: Maybe a bit wrongly. It’s only my opinion. But if it’s live, then it’s live! You know, they’ve cleared your diary and you’ve a neutral consent that this is something you both think is worth owning up to. So I like live. I think this is like these days, you know, when you get a handwritten letter or you get someone face to face, it’s a higher value than all this automatic processed stuff.
TIM: Yep. Totally! Just so for those who haven’t done a webinar, we touched on that earlier, but just so we’re clear, there’s no video involved in webinar. You can’t see. We’ll certainly not go to making a webinar, you can’t see the presenter but you see the desktop—
JAMES: Oh, you can!
TIM: You can, can you?
TIM: In GoToWebinar?
JAMES: Well you can in GoToMeeting now and for some people they may only need GoToMeeting if they have less than 16 people.
JAMES: And something to watch, I mean, Google+ just went live last week, but they have hang out and they’ll also be soon integrating it with YouTube like Live Streaming, so we haven’t really touched on that, but there are other platforms like YouStream and I mean, imagine Google+ live streaming YouTube thing will be an option for people to somehow monetize or leverage for getting a wider distribution for their content.
TIM: You told me—it’s just coming back because I didn’t realize and maybe it’s a Mac thing that you made live video on GoToMeetings, do you? Right? There you go.
JAMES: Yeah, I’ve been beta testing it for months but I’ve noticed it now in version 5.
TIM: Do you prefer using it when you’re doing a webinar? Would you prefer to show just your screen?
JAMES: Well, it really depends what you’re trying to do. I know you’re a big fan of showing yourself on the camera because you’re so handsome. I put it this way: for my sales letters at the moment, generally I don’t even put me as a talking head on my sales videos. I’m using slides because it’s not about me, it’s about the customer. And I generally want to convey the message in the most meaningful way that I can. And if I’ve overeaten or something, I don’t need them to see double chins, bald heads. I just want them to get the message. So you need to choose—
TIM: Do your double chins come and go?
TIM: Wow! Go on, James.
JAMES: (laughs) So let’s talk about a couple of maybe the process, just the basics.
TIM: Yeah! Go!
JAMES: So you get yourself some software or you choose a platform, something you then those create an invitation for the event. And this is really one of the most powerful things, especially if you’re doing a free webinar where you plan to sell something. You don’t have to sell something for money; it can just be a concept. You might be selling people on turning up to something or convincing them to stick around and, you know, stay on your list or whatever. So just when I say sell something, I mean whatever the next step is.
So you create an invitation. That could be using the software that you’ve chosen or you could have it on your own page. Generally you’ll get highest conversions by putting a little video with the registration next to it somewhere. And you may also have partners or affiliates driving traffic to that. So for some people this is the whole business model. Their business model is to build a big list by having everyone promote the webinar and join the webinar list. So I would hold a free webinar, Tim, and I’d ask you to send people to that webinar and I would capture the details of your customers when they register and then they’re now my customers. So
that’s one business model. And then I would sell on the webinar and a percentage of the people you sent would turn into cash. And I’d keep the records and I promote again.
JAMES: So then you actually run the event. Now you could do that live or you could do it as a scheduled event, which is fine as long as you’re not lying to people. And then you’ll probably, if you are running a live one, you would record it so that you can leverage the replay aspect or the automated aspect of it, which I strongly recommend or you could—
TIM: Perhaps I could interrupt you, James, and just say just before you get into the actual event itself. GoToWebinar is particularly good at allowing you to really personalize things in terms of the invitations it sends out and it sends out invitations a week before, a day before and an hour before it starts and it has the link in there and you can fully brand it. You can put a message in the waiting room, which is where people wait before the webinar starts. So there’s lots of nice little things you can do to make people feel really confident about what’s going on.
JAMES: Yeah. And sometimes it will come down to how savvy your marketing is. People in Internet marketing space have already attended a thousand webinars. People, you know, normal public members may never had attended one and you might have to walk them short a bit.
JAMES: And then you run the thing and record it. And then afterwards, I suggest you leverage it by, you know, load it up to webinar.tv or replay it to your own customer list. Usually—let’s talk attendance rates and stuff—if you get a thousand people register for a webinar, generally you’ll get around 400 odd people turn up to the webinar. For some reason, you get about half, 40 to 50 percent, depending on what you’re offering. And then during the webinar, one of the things that you’ve mentioned is how many people stick around during the webinar, and it’s a good idea to try and engage people. And for that reason, I suggest you use the Chat Pad. There’s a chat feature for most of these platforms and it’s a good idea to ask questions. The first question we ask from people that first log on is “Can you just type in the chat pad what you can see on the screen.” We make sure that they can actually see what we’re promoting. I’ve attended webinars where you can’t see anything and they never bothered to ask.
JAMES: But you want to get engaged with happening from the first minute, as soon as they log on, and you keep engaged. So pause regularly for questions and continue to ask for a feedback so that people feel like they’re a part of it. So this is more than just a one-way broadcast and that’s why I think the live webinar is more engaging and more interesting. Because if you’re just faking that, then it just doesn’t have the same effect.
TIM: Yeah, I do that. I get people to put their hand up, because there’s a little button that gets them used to the whole fact that, hey, I can push this little button here. My hand will go up. If they do that, I can un-mute them and we can have a conversation, which everyone else can hear. Yeah. Chatting questions through. You just got to practice that. If you’re new to webinars, the first thing you’ve got to do is do a few practice runs before you do a real one. Get used to the whole concept of presenting because it isn’t like presenting live because you’re not getting feedback, you know?
JAMES: I remember my first one, it really was as close as I could imagine to sitting to a radio studio where you’re just talking to the masses but no one’s talking to you.
JAMES: It’s absolutely silent and you’re just there talking, having a conversation with yourself. And I think after you do one or two, you get quite used to it and then it’s normal. I could run a webinar at the drop of a hat now.
TIM: Yeah, yeah. And you’re going to get used to checking is there any other hands up? I prioritize my attendee list by clicking on the hand icon. That way, anyone puts their hand up will be up the top so you’re not having to scroll the whole time.
JAMES: Well, big tip is use two screens. If you’re going to run webinars, you should run two screens.
TIM: That’s just the beauty of full stop in terms of productivity.
JAMES: Well, if you’re serious about anything to do with Internet marketing, you have two screens because you want to have your control panel on one screen and your presenter’s notes, so that you know what’s coming, and then you have one on the other screen, you have what the audience can see. Now, I’ve taken this to the next level because I run webinars everyday—
TIM: I’m like you.
JAMES: Yeah, well I run a master class on Monday night and Tuesday night here at the moment, and then my daily team meetings, so I’ve got two Internet connections because it’s just that damn slow. On my second computer here, I log in as a participant and I record from that screen. So I’m seeing exactly what they see on my other computer coming down the other Internet connection. And I’m recording on that one and then I’m running the webinar from my first computer, so I’m running it from one and I’m viewing it on the other and I can see what they can see in real time.
Because there will be lags depending on screen size of the viewer or the presenter, depending on Internet connection speed and then depending on the graphic intensity. Another tip is keep your slides light. Nice white slide with black text is going to load much faster than a video, for example. If you try to run videos on GoToWebinar, it can be a little bit dicey.
TIM: Yep! Big time!
JAMES: Yeah. Some people won’t be able to see what you’re seeing at the same time.
TIM: Keep it simple. Alright mate, so these are good tips for running actual video—sorry, running an actual webinar. Webinar’s over. What next?
JAMES: Well, then you produce it. So when I’m doing my master classes, this is something great, right? Here’s an overall concept: I’ve sold a master class, it’s a live webinar series for 8 weeks. After each webinar, I take that recording and top and tail it, which means we put—and it could be you or it could be a team member. My team member log on to every webinar and record it, so I don’t even have to, which is great. But let’s imagine we’re doing it ourselves. You trim the first part and then the last part, you know, just clean the ends off it and you stick a little video bumper, like your graphical logo and they’re really cool. So it looks nice and then you render that. I save it as a movie file, mov, and I save it as a nice size like 1280 x 720 or whatever it is. And then what I do is I convert that using software called Hand Break, into a nice streaming m4v file. And we load it up into a membership site using the shopping cart that I use. We load them up into a multi-player so at the end of 8 weeks we end up with 8 videos in a nice one multi-player inside the paid membership area and now I can sell that master class as an information product at a reduced rate compared to the live master class. So now it’s the recorded master class.
JAMES: We’re creating content. Now the other thing to do is to run that webinar through some conversion software to turn it into an mp3 and then export to slides as a pdf. So I think that for webinar participants, they should get the streaming version of the video, the downloadable version of it, the mp3 version of it, and the pdf version of the slides and perhaps any other resources or tools that you recommend.
TIM: Just to be clear on the streaming version and the downloadable version, what are the two file types for those?
JAMES: We just use m4v for both.
TIM: For both? Right, okay.
JAMES: Because that will play on an iPad and it will also work on any computer if people use a player like VLC Player. That plays anything. And if you want to go to the extra effort and transcribe it into a timeline or a full transcription, go for it.
TIM: Certainly a marketing channel, James. You can do a lot with this one?
JAMES: Yeah. And of course, the next leverage step is you can take one of those individual videos and just throw it over the side. I think you recall, Freedom Ocean listeners who were subscribed at the time, you got the first recording of our first webinar for the super affiliate master class.
TIM: I do.
JAMES: Right. And nobody else got that, but we were able to take some content from one course, a thousand dollar course, and give one of the modules away to subscribers for another channel as something valuable. And that’s why people open their emails when they have strong customer base who open emails, because we give treats, we give them value, and considering how much people pay to belong to Freedom Ocean, that’s good value!
TIM: (laughs) That is very good value! Absolutely!
JAMES: But the other thing, the interesting thing is we ended up selling 4 or 5 tickets from giving away that free video. So that free video turns into $3,000 or $4,000. All you did was cross pollinate one piece of content to another channel offering value and everyone who didn’t buy still got something really valuable and enjoy sticking around and will probably one day buy something. And then the people who did see it, who wouldn’t ordinarily have seen it managed to jump into that course and by now, by week 7, they have their own website up, about to start making sales. So they’re about to turn their investment into a profit center, which is mega-exciting as well. So they’ll be customers for life.
TIM: It’s a great marketing concept, James, which is as the marketer or the business owner gives something away of high perceived value to the recipient at low cost to the business owner. And a webinar done well is a great example of that, where you put together a 30-minute or a 60-minute video. You could actually do it for free if you use the 30-day GoToWebinar trial. But minimal cost and you’re giving it away to someone in return for an email address as a list building activity. It really does have some high perceived value.
JAMES: And it should be done by all sorts of businesses. This could be done by anyone.
TIM: Anyone, yep!
JAMES: From injury lawyer through to a car dealer. A service center for Mercedes Benz, they should be doing these. They should be doing the top 7 things that you should be looking to maintain on a 2 or 3 year old Mercedes Benz, 3 years or older Mercedes Benz, you know, which is when they’re out of warranty and they should be sending that out to their customer list. And the customer can watch it on their own time. And just the recording of it even. So the big thing I hopefully is comes across is that a lot of the power of the webinar is in the leverage of it because, yes it’s very powerful when you run it live and you do the first one, but there’s a lot more leverage in longer legs in the recording the way you leverage that. And if you’re clear about being on recording or online event, not live, then that’s fine. I actually put together slide shows and I don’t mind of there’s only 15 people at the live webinar. That’s the other thing, you can’t tell how many people come to it. Every chance, when you’re on your first one, that they’ll be one person on there or two.
TIM: Yeah. And don’t lose faith if that’s the case.
JAMES: I know someone who has a whole business selling webinars. He speaks from stage around the world. He’s doing hundreds of thousands of dollars just pushing this one concept of the webinar. And his first webinar, he had two people come and one person bought. So they had a 50 percent closing ratio. And the two people on the line couldn’t see each other, but you’ve got to pretend they’re talking to a thousand people, you know? For the mindset perspective.
JAMES: And you take those recordings and you leverage those recordings and those things can play for years. I’m still playing webinar recordings that I did 3 years ago inside my coaching community with experts and they’re still as relevant now but I don’t have to keep writing them over and over again. And if you load them up to a previously recorded webinar section, then that’s open and honest and it’s valuable for everybody.
TIM: Yep, yep! Now, I think that’s a key message is the re-purposing here. James, just to finish up, a question for the small business owner more than the IMer but you talk about the lawyer or the mechanic, if they were to adopt a webinar strategy, what do you suggest they do like literally for the next 12 months schedule 2 webinars a month about around a certain topic and just keep promoting the fact that hey, this is coming up, so be a part of it.
JAMES: No, I’d say much easier to start is, right? Survey your current customers. What are their burning questions? Is this a simple formula? I taught this in Fast Web Formula 2. It’s called VSW. But you basically, you make a video inviting people to a webinar and then you survey them about their biggest questions and then you run a webinar to answer the biggest questions. Now you have a perfect piece of content that could be re-purposed over and over again.
So your solicitor or car dealer, they could just do this once. They could go on survey all of the members of their database who have a 3 year old or older Mercedes Benz. They could then say, “What are your biggest questions about maintaining? What are your biggest concerns about what might break? What questions you have about tires or the gearbox or whatever?” They take all the answers. They collate them and look for patterns. Now if they’re using Survey Monkey, then that will actually create a text cloud of the most commonly asked phrases in all the survey responses.
So that makes your job easier. And then you just make some slides covering those touch points. And you answer them. Just say “7 Things You Should Know About a 3-year-old plus Mercedes in Terms of Maintenance and Save Tires.” Here’s the 3 things you should check on your tires on your vehicle right now. And then you put illustrated pictures, you know, look for this or this if you have any of these, you need to book it into the service center immediately. Or whatever. So once you’ve created that core piece of content, then you can pop it into an auto-responder. Now, the thing is, people would say “Why don’t you just make a video instead of a webinar?” Well, the thing is with the webinar, when they turn up to the replay but they get into that live atmosphere, it really feels like you are—why, if there’s something goes on with your brain—
TIM: I know what you mean.
JAMES: You’ve got people asking questions, the countdown timer is on, it feels like you’re at a live event, even though you’re not. And I guess it would be like watching something back on TV. Like if you watch an episode of 24 on TV, it feels like you’re in that 24 time space where there’s deadlines and things are happening in real time, but you know they’re not and they’re not lying to you but that’s just how body acts.
TIM: Yeah. So how about that business owner who’s going out to the list? What are your burning questions? Thank you, I’m now going to run a webinar in 2 week’s time and answer every single one of them, here’s the invitation. Once they’ve run that webinar once and answered all those questions, are you suggesting—clearly that then becomes something to re-purpose and put them up on the page. What’s the next webinar that they do that’s live? Do they keep doing—
JAMES: Well, they have to do another one.
TIM: Right. Okay.
JAMES: I mean, start without one, that’s what I’m saying. The easiest way to start is just get started and you’ve put your cardealerservicecenter.com/7topquestionsreplay. And then you have the video there, which is on auto play, and then you just send the email out. “Dear Tim, your Range Rover’s just turned 3. We’ll be more than happy to talk to you about a new one. We understand that sometimes you grow attached to these things, you want to keep them. What we’ve done is we’ve done a special online video for you explaining the 7 things you should look for, blah, blah, blah.” And then send the link to the video and the video, it has the service manager introducing, “Hi. I’m Fred Blogs and I’m the service manager here at Melbourne Range Rover. And what we did is we asked all of our customers what things they want to know and we prepared our responses here. And also, I want to welcome everyone who’s joining us live on this event.” You see, so now you sucked into the live but it’s not live!.
TIM: Yeah, and importantly obviously the back end of that have a strong call to action.
JAMES: Well, even in the middle end of it.
TIM: In the middle? Yeah.
JAMES: You can plant many seeds in that thing about air filters, tires, petrol quality, changing the spark plugs, whatever. I’m just using a simple example that anyone can relate to.
TIM: Yep! I had quite a run in webinar last week, and they were sharing some tips about 60 or 70 percent of the weigh in, the first call to action was there, which was the saying no, I’ve got a few to go. We’ve still some nuggets here to be shared but if you look—
JAMES: Yeah, it just seems a lot more legitimate when there’s customers asking questions. Okay, there’s a question here about such and such, so now it’s not like the big bad car dealers just ramming stuff down our throat. They’re genuinely asking questions from real customers.
TIM: Yeah, and what I was going to say is with two-thirds of the way through, the first call to action, the first opportunity to say, hey look, if you like what you’re hearing, then there is the opportunity to work with us and here’s some contact details and now we’ll get back into finishing off those 7 tips.
JAMES: Yeah. Well a lot of people wait until the end to slam the customer with their offer. I think that’s probably the mistake.
TIM: Yeah. Yeah, yeah, yeah, yeah! Absolutely! Yeah. Well, one of the things like any holding event, you can see when people are leaving the webinar. We have a thing that interesting little component of GoToWebinar is you can actually see when people aren’t paying attention. Well—
JAMES: That’s why you have to engage them constantly as if you’re at a live event.
TIM: Yes. Well, maybe they are paying attention because they taking notes, but if they’re using their keyboard—
JAMES: Don’t kid yourself.
TIM: They’re surfing around the net.
JAMES: They’ve got 3 screens open and they’re probably not paying attention to you. You’ve got to hook them in with engaging content, which makes perfect sense as a goal. Be interesting. Be valuable. Retain that attention.
TIM: Yeah. Brilliant, mate! I reckon that’s a wrap on webinars, James. We’re almost at the 53-ish minute mark. We are getting very close to getting up to Caloundra on the Sunshine Coast. In fact, I think we’re exactly one month away for your live events Fast Web 4-bit Formula. People can still go to freedomocean.com and register for a nice little bonus that they can see on the prize page. But James, what—
JAMES: There’s good bonus, by the way. I did the first video critique the other day. And I know that the person that I did the video critique for is going to get tremendous results from the suggestions I made based on what I saw and what I know is possible. So that is something very valuable.
TIM: Alright. That’s a great video critique and I’ve done a number of coaching calls for people on board with Freedom Ocean. 30 minutes guide coaching call. So listeners, if you buy your ticket to Fast Web Formula through Freedomocean.com, what you’re going to get is a video review of your site by James and a 30 minutes Skype call with me. So I’m really looking forward to that, mate. But give us a little taste of what to expect at Fast Web Formula.
JAMES: Well, the most important aspect is the live community thing. I mean, the very beginning of this call we talked about getting out and about and meeting people and believe it or not, we didn’t plant that there to then talk about it now. But it does strike me, I mean, that’s the reason I went out, that’s why I stretch my legs. I went overseas, went to meet some people because you’ve got to get fresh. So I’ll be bringing the very best ideas, the things that I thought were highlights from my whole trip. I mean, to put it in perspective, I will have spent well over $10,000 on just that one trip, but what people are accessing at Faster Formula 3 is not just my experience, but also there’s a dozen experts and they can meet them, talk to them, tap into their best tips and my best tips or for a fraction of that. And you want to get to that event if you possibly can because it will recharge, motivate, inspire and give you the coordinates that you need to plug into the dashboard to get to where you want to get to. I’m really passionate about this event. I only do it once a year now. And I’ll make sure it’s a good one.
TIM: I’m excited, mate! I’m going to book my accommodation. (laughs) I’ve got to fly! So I’ve got accommodation. James, great mate! Thank you for sharing. That’s a wrap, I reckon, on the power or webinars as a business model. Hope to see all of you at Fast Web Formula 3 and thanks James! Until next time! Go and take a dip into the Freedom Ocean.
JAMES: Thanks, Timbo!
TIM: See you, mate!
JAMES: See you!