Webinars are a great way to demonstrate your value proposition and generate leads for your business. But whether you are an amateur or a professional creating a webinar, you need to answer the following question: What’s it going to take to generate revenue from them? So, here is how to monetize your webinars.
There are many ways to monetize webinars and the one that’s best for you depends on your business strategy and revenue model. Choose the way that seems most effective for you but don’t try to do all of them just because it is possible. In most cases, it is better to have a few but effective revenue models in a business.
Moreover, when selecting a monetization method you also need to consider the quality and exclusivity of your content, the authority of your presenters, and also your audience expectations.
Without further delay, here are six ways to monetize your next webinar:
How to monetize your webinars
1. Registration fee
This is maybe the most obvious way to make money off your webinar. However, while it makes sense to charge for educational webinars, it doesn’t for product reviews and other pure advertising content.Paying to attend is a great way to monetize your webinar when you have high-profile presenters or are offering extremely valuable advice. The higher the price of entry, the more value needs to be offered to attendees. Still, don’t price too high.
2. Sponsorship
Third parties can pay to sponsor your webinar. Similar to an in-person event, sponsored webinars can provide advertising for the sponsor, guest speakers opportunities, special offers or swag for your attendees, and other promotional elements to amplify their brand and message to your audience.
One of the easiest ways to get money through sponsorship is to embed the logo of the brand or brands that sponsor you on the webinar.
And how can I do this? you may be wondering…Well, with Watchity is very easy because it allows you to customize your webinar connecting cameras and smartphones, sharing your screen or webcam, adding lower-thirds, overlays, brand logos and pre-recorded videos.
3. Pay-per-view webinars
Not everyone will be able to attend your webinar or even know of its existence until much later.
So once the webinar is complete, you can host the recording in a members-only area of your website and/or make it “pay-per-view.” In other words, make them available on-demand. This is a great way to repurpose the content and continue making money long after the live webinar is over.
4. Affiliate marketing
You can advertise other company’s products and services during your webinar and make a commission off the sales. In other words, if a webinar attendee recruited by an affiliate makes a purchase from you, the affiliate will receive a percentage of the sale.
However, keep in mind that what you advertise should be relevant to your content, and avoid dealing with companies that don’t share your corporate values.
5. Sales of products and services
Just like you can advertise products from others, you can also advertise your own!
Webinars are a perfect tool for introducing, explaining, and popularizing your products and services. People are more likely to make a purchase after an entertaining and profound webinar. So redirect them to your page so they can buy your products at the end of the webinar.
6. Upsells monetization
There are numerous upselling options to use during a webinar. For example, you can suggest your audience to take a look at the one-on-one trainings you offer. Tell them that they are worth extra money, but that it’s worth it since you will be able to provide personalized help and even more value for them.
Another example would be you making an educational webinar and charging extra for tests and essay reviews.
If you want to know about creating webinars with Watchity or how to monetize your webinars, send us a message or request a demo.