Webinars are huge now. Well actually, they’ve been around for a while. But it’s only in the last couple of years that they’ve finally gotten to a point where they’re not cringingly tacky anymore.
What I means is that they’re all about giving insane value to the viewers rather than it being a rags-to-riches story with a minuscule drop of value and then an irritatingly drawn-out pitchfest like they used to be.
As I’m looking at the next steps in growing my business, it’s become apparent that webinars should (and will) be an essential part of it. So I’ve been putting in a few hours here and there to research, learn and experiment with how I will be using webinars in my business, and I’m now learning all about the world of joint venture webinars!
WHAT ARE JOINT VENTURE WEBINARS?
A joint venture webinar is a virtual event, usually live, that’s run by two business owners where a training or information is given and an offer is made at the end.
WHAT ARE THE BENEFITS OF RUNNING JOINT VENTURE WEBINARS?
Depending on what kind of join venture you’re doing, some of the benefits will be adding a large chunk of new leads to your email list, gaining major credit and brand awareness for you business, making a lot of sales on your product within a short amount or time or earning commission on a product you’re an affiliate of.
THE “NO-PITCH” JOINT WEBINAR
This style of webinar is solely for list building purposes only – and great for those just starting to learn about webinars – but don’t for a second think that these kinds of webinars don’t lead to sales, they do, in the long run.
Say you gather 500 new subscribers from one joint venture webinar, you now have access to those 500 people to grow a genuine relationship with, share your ideas and experiences and sell them your products.
How does it work? You each choose a topic that you’re going to train your viewers on and then combine them for a potent training session. It’s important to find a partner that has a similar type of audience, and also teaches on a subject that relates to your niche but doesn’t teach the same subject as you.
Create content that you can both speak about for a good length of time that’s super valuable. Again, there’s no selling on this webinar, just pure value. This style is actually a whole lot more fun, especially if you’re a beginner, because there’s no pressure to sell at the end. It’s a more relaxed conversational style of webinar that helps you to build credibility and get exposed to new audiences.
THE JOINT VENTURE WEBINAR
Joint venture webinars are all about bundling your product with another persons product to combine into a package at a more affordable rate. The bundle is usually only available for 24 – 48 hours.
How does it work? So for example, say I decided to run a join venture webinar with my wonderful friend Miranda Nahmias, and we decided to bundle my Flawless Funnels course which is a $97 dollar product and her 90 Days To Your Blog’s First $1k course which is a $47 dollar product for $97 in total. The viewer gets a load of free value during the webinar, saves $47 when purchasing the bundle and gets two courses for the price of one.
This style of webinar is a great way to bring in money without a launch or if you’ve already launched. It is a little riskier if you’re the one handling all of the payments (someone will have to), because it usually takes 30 days to get paid out because you have to wait for refunds, credit card clearance etc.. It’s definitely a lot more maintenance, but obviously more profitable in the end. just make sure your split with the other person is fair. i.e If you have a $1000 product and they have a $300 product, it should be a 70/30 split.
THE AFFILIATE WEBINAR
The affiliate webinar is something I touch on briefly in my free Blog Your Way to Passive Income course. But to elaborate a bit more on that, an affiliate webinar essentially goes like this; the person with the product is selling to the other persons audience.
How it works? Let’s say I decide to team up with Ash Ambirge and use her You Don’t Need A Job, You Need Guts course for an affiliate webinar. My job as the affiliate is to gather leads for the webinar. I’ll promote to my list, on social media and use facebook ads to get people to sign up for the webinar. Once it’s the day of the webinar, I would chaperone the webinar while Ash would run the training as well as pitch at the end. In return for the sales made, I would gather a 50% commission on each sale and Ash would not only sell her product, but gather new audience members.
The affiliate webinar is definitely one of my favourites because it requires less work than the exchange and joint venture webinars. You still gain 20% – 50% of the profit just from sharing your audience with them.
Note: If you want to learn how to make money through affiliate marketing, including affiliate webinars, I recommend checking out my brand new course Affiliate Affluence where I teach you exactly how to go from making $0 – $500 in 30 days with a very small audience + strategies to continuously increase your affiliate income month by month.
THE BONUS EXCHANGE WEBINAR
The exchange joint webinar is similar to the affiliate webinar in that you are gathering leads and sharing your audience to someone else who will pitch to them. Except you’re also going to be doing the same for your webinar partner and their audience!
How does it work? You team up with someone who shares the same target audience as you and offer to exchange one of your programs for one of theirs. You then run two webinars; one with your partners audience sharing a super valuable training, and one with your audience running a high-value training. To get your potential new students ready to hit the buy now button, you offer a few extra valuable bonuses each that compliment your products for a short space of time.
The idea of this is to get all potential buyers super pumped up and excited for your products, then hit them with a few insanely valuable bonuses that make it completely irresistible for them to buy. These tend to be the highest converting webinars because there’s just so much on offer, it really is hard to say no! 😀
HOW TO FIND WEBINAR PARTNERS
The best place to start is with your existing biz friends. It’s so much easier to start with someone you already know and who knows you. You’ll be able to bounce off each other naturally without having to also worry about having a connection with your partner too.
Another great way to find joint venture partners is by contacting and connecting with bloggers and business owners you admire and follow. You can either do this directly through their website, or through social media. A good idea is to warm them up first by connecting with them over other things first for a couple of weeks. i.e commenting on their social media updates and blog posts.
The last two places to find partners is one of my favourites. Either through facebook groups that you use daily, where you can name some of the members by heart because you already interact with them. Or through your list. Send out an email asking your readers if they’d like to partner with you and to reply with their interest.
A word of caution: Don’t jump into a partnership without really doing your homework on this person first. Research their brand, audience, business style and values first. You want to make sure you completely and wholeheartedly trust each other. You are sharing your audience with them, people who listen to and trust you, one wrong move and you can lose a lot of followers, so make sure your partner is not only someone you would work with in person, but would use their products also.
Now it’s your turn!
In the comment section below, please share with me..
- What type of joint webinar interests you the most?
- Where are you going to start looking for webinar partners?