In A Nutshell
If you’re here to find a formula about how a webinar should be priced, you might not find one by the end of the article. In fact, there are no ways to ever break it down in a formula.
However, what we’ve done is to attempt to teach you for once and for all, how your content and expertise/knowledge can be packed together to make the best bang for your buck. Not only will you be able to understand how webinars should be charged for, you will also be able to your attendees make the best return on their investment on you & your content…specially if they’re paying for it.
Just having the heart to to build a webinar is a big thing. The costs, the energy, time spent creating and curating it is something not everyone can do. Webinars are a product/service that can do wonders for your audiences, even change their life with the help of your advice. The ultimate goal is to get them to attend it, sure, but you can make money while you’re at it. And that’s where comes comparing the cost of a webinar in your marketplace.
There are two ways to make money off webinars. Either by charging the attendees a registration fee for accessing the webinar itself and the other is to make money through the sales of your product & service. So if you’re going to be doing the former, naturally, deciding the price of the registration fee then becomes one of the major reasons whether people will attend it or not.
Generally speaking, a typical length of a webinar is anything between 45-60 minutes. It’s not a lot but usually most creators and speakers manage to cramp up all the important information within that time.
The three biggest factors to keep in mind while deciding the webinar pricing are the value of the information/content, the authenticity of it all and the quality of the delivery i.e. the level of professionalism and expertise that it is delivered with. It’s easy fooling yourself into thinking that your webinar is good but it doesn’t necessarily mean your audiences will think the same. And what they think should always matter more. Their time is money too and it’s specially the case if they have paid upfront for it.
As we mentioned earlier your audience will expect a return on their investment of 60 minutes on you and your content. So it’d better be worth it. 🙂
Having said that, you should be charging your attendees for this webinar as much as you would charge as a consultant or a coach/trainer or a business owner would in the offline world.
Before WebinarJam there were no options in the market that gave such ease and flexibility to setup payment gateways with webinars without getting too much technicalities involved. It was challenging and well beyond the reach of small businesses, forget independent coaches/trainers/experts etc.
Setting Up A Simple Payment Gateway With Your Webinars To Charge Money
In a matter of minutes, you will realise how simple it really is to do. All by yourself. No coding or technical skills needed. Usually, most other webinar software and conferencing systems give a link to the link to the user/attendee which then opens up in a new tab or window. This is naturally a very cumbersome process and drastically results in fallouts and lower conversions.
What WebinarJam instead allows you to do is integrate a clickable button right inside the attendee’s browser while the webinar is being broadcasted live. These are popularly known as “Pop-ins” for the WebinarJam geeks because this is the only way to literally “pop in” any offer of your choice while you’re broadcasting live. You’re literally right inside the attendee’s browser.
The Pop-In configuration panel is available inside the system for you to simply customise the offer of your choice..even when the timing it should pop up at. By integrating these live offers within the webinar window, your sales drastically get effected which directly result in higher sales of the products and services you are promoting.
The payment configuration is separate and needs to be filled out by you. It can be found within the dashboard. You can decide what amount should be charged and just fill up the other details like the currency to accept payments in, the URL of the desired payment check-out page.You can use everything from PayPal to Infusion Soft. For the ease of purpose, our favourite remains to be PayPal.
The Payment button on your webinar registration page leads them directly to the payment check-out page. As soon as the payment process is complete on the chose payment gateway page webinar attendees are sent back to the original registration where they can continue reserving the spot by entering their email address and name.
If you’re a freelancer or a small business owner, this is one of the easiest ways to make webinars your passive income cash cows. Monetising training as a service could surely not get simpler than this.
Think of it like this. This is still only one of the ways for you to make money using webinars. You will later be learning about monetising by adding pop-up buttons for buy now and increase your sales by showing your attendees the best offers for them.
LISTEN TO YOUR AUDIENCE BEFORE SPEAKING
When your content is being developed by you, you know exactly who your audience is. Why not also just think and keep a pricing with them in mind? It is most likely that the corporates and enterprises will pay the highest, right after social sector organisations and individuals have only have limited budgets. If you end up putting the price point too high then the individuals will drop, if it’s too low then the corroborations might not take you seriously. So usually the best way out of this is to just offer a sliding scale. Naturally, the more defined your audience (single mothers, finance students, freelance designers etc.)
CONTENT IS KING & QUEEN
It is important for you understand that the cost depends on what your content is like. If you are going to be mostly just doing a marketing pitch, then it doesn’t make much sense to charge the registration fee. However, in case of giving a valuable lesson that can actually bring about a shift in the thinking of the attendee for the better, then it’s a different story. You will be surprised to find out the kind of money people are ready to spend on voluntary learning itself on webinars.
GO SUPER NICHE
The more you drive your content toward a specific set of topics, the higher your earning potential. You need to decide how unique and engaging the content is for the audience to take value from it. Little value should naturally equate to a smaller charge. This information needs to be packed and presented in a way that the audiences don’t feel that they can get this information anywhere else. This is also something you will need to spend a considerable amount of time with just researching and gathering from your own analysis.
GO TALL, NOT BROAD
Webinar attendees are usually audiences that are looking for a specific pocket(s) of information. If you fail to keep their attention and desire to know more or quench their thirst of knowledge, they are most likely to drop out. Just make sure you are doing this to help them succeed in their life and try and be the best advisor you can in your area of expertise. A lot of the information might already be available on the internet on other websites. You need to be able to offer a little more from what is already being offered in the market at no extra cost. The deeper you can sink into your topic of discussion, the better your sales will be. This is also the only thing that makes your webinar attendees to pay more.
HIGHLIGHT CREDENTIALS AND YOUR DYNAMIC SIDE
The quality of the presenter is one of the biggest factors that can decide how you should charge for your webinar. Someone who is a good talker and has an engaging personality in general will help build authority. Use your credentials to the max and do not be afraid to highlight your achievements. This gives the attendees more confidence on the person who is providing this information. When this authority is built, you will notice the sales skyrocketing. A healthy mix of charm and grasp on his/her knowledge will win you extra credit regardless.