Webinar selling is the most important factor in making your eLearning business successful. Here are some key factors one should remember while conducting your webinar.
In live webinar, the key is consistency. Whether I am in office, or I am in the mountains or I am travelling, I have done live webinars consistently for the last 1 year. Every sunday I have done live webinars. Why? Because I wanted to learn the skill of speaking live. I had never gone live before that. I never did even a Facebook live. I treated live webinar just like learning a new skill. It’s not easy to conduct live webinars where there are 10000 people attending your webinar. It’s not easy to conduct webinars even when there are just 1-2 people, with the same commitment and conviction as 10000 people. I have done free live webinars and in those live webinars, I have sold my eLearning courses, which I will cover later. But I consistently conducted live webinars every Sunday for 1 year except once. That one week I was in Vipassana. It’s a commitment.
Only a laptop and earphones are required to do a live webinar. Nothing else is required. But if you want to spend, then you can spend on digicom but you don’t have to. First focus on earning, then spend on gadgets. Many times we just spend on gadgets but we don’t end up using them. Don’t do that.
The ideal duration of this workshop is 60 – 90 minutes. If you are doing a 90 min workshop, then spend 60 min purely on training. I have followed the same strategy throughout the year. Once you have spent 60 min on training, then spend 30 min on selling. Selling means, when people have come for your free webinar, and learned from you, why they buy your online course. Selling is nothing but handling the objections. Whatever objections you have, that is called selling. If you can handle objections well, then you can sell. 30 mins spend only on selling.
Every sunday I did workshop only at 11 am. Why did I choose Sunday 11 am for the workshop? Only because of this man.
Aamir Khan, whatever he does in life, he does with a lot of research. And if he is doing Satyamev Jayate at 11am on Sunday morning, that means, there is a reason behind it. Maximum number of people are ready to watch something at that time.
There were times when we tried a workshop at 10 am or at 10:30 am but 11 am proved to be the best time to conduct a workshop.
As a tech entrepreneur, it is very easy for me to decide on the pricing based on what are the tools required, time required and people required. But pricing online products is slightly different.
This is my perspective on pricing. During that one year, every Sunday when I was doing a live workshop, at 11 am, I was also testing live webinars on Tuesdays and Thursdays. Because I had a good email list, those people who missed the Sunday workshop, I would invite them on Tuesdays and Thursdays. So only a few people would come because a maximum number of people had attended on Sunday.
So I used to test different things on Tuesdays and Thursdays. I also tested pricing at that time. This is what I did.
After the 60 min workshop, I told them that the same product that I am offering you, I have sold for Rs 8000 – 9000 in the previous workshop but today you decide what the price should be. But I also told them that for every transaction, Instamojo will charge Rs.10 as tax. So above that Rs. 10 whatever amount you pay, I will consider that as your perceived value for this product.
What do you think is the minimum and maximum cost people would have paid for that product?
There were around 100 people in that workshop and around 10 people decided to buy.
These are the numbers.
One Person paid Rs. 2000
Another Person paid Rs. 100
And eight people paid only Rs. 10
While I was going home, I kept thinking about this incident. I sat in front of my wife, and I said, you have to decide the worth of your product because people are there to buy from YOU even at Rs. 10.
You have to decide what your product is worth but that does not mean you have to charge more. I will show you in the excel sheet in another blog, that even when you charge less, your profit will increase but you have to decide what your product is worth.
If you have the fear of increasing your cost or decreasing your cost and then people might or might not buy, that fear should go away. Your price should be an outcome of a strategic decision and not fear. Fear should not dictate the price of your online course. The strategy should dictate.