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How To Transform A Webinar Into Business Revenue

Here are 4 ways that you can turn your webinars into income-generating machines.

Adam Deutsch

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Webinars are more than just a proven way to promote your goods and services, they are an extremely powerful modality for educating, training, entertaining, and converting consumers into loyal customers.

A main reason for their effectiveness is the meteoric rise of video content in the digital world. The other half of the puzzle can be attributed to the fact that the vast majority of webinars are free events.

This does not mean that all webinars are free or that paid versions are somehow inferior. This is a very versatile modality; that’s one of the reasons it works so well.

Webinar provider ClickMeeting recently articulated this with a free eBook about how to make money using webinars, which illustrates a variety of money-making tactics fueled by technology.

Webinars can be used at nearly all stages of the buyer’s journey without losing effectiveness or potency. Instead of just being a supplemental tool, webinars can become a source of revenue in their own right; you just have to know how to structure and leverage your broadcasts accordingly.

If you are looking for ways to generate a meaningful income through webinar technology, you’ve come to the right place.

Related: 5 Best Online Businesses To Start This Year (Infographic)

Here are 4 ways that you can turn your webinars into income-generating machines.

1Create a Webinar Series

If you haven’t considered making a webinar for the actual thing you are selling, try this on for size:

A great example of a brand selling a webinar series comes from Social Media Examiner. Each year, the company holds its annual summit that they creatively (and cost effectively) turned into a series of webinar presentations from renowned marketing experts like Joel Comm and Ian Cleary.

The series is organised so that each presenter is allotted one session to discuss their particular topic of expertise. All of the presentations are available to watch live or, for those who can’t make the live broadcast, are accessible as a recording. In either format, there is a fee for access.

In addition to the actual presentations, Social Media Examiner supplies attendees with audio files and transcripts to provide added value to the experience.

This is a unique way to leverage your brand as an industry thought leader too. By consolidating other experts in your field, you can make legitimate impacts and revenues by hosting a webinar series event.

2Sell an Online Course

online-course

The previously mentioned eBook points out that while sharing knowledge is inherently a good thing, one shouldn’t do it to their own detriment:

“If you share your knowledge on how to excel in a specific area or how to improve a skill, don’t give away your expertise for free, with exposure as the only compensation. Instead, consider sharing it in a webinar with paid access. Educate, teach, guide, and share knowledge – and get paid.”

The tactic of selling an online course via webinars is extremely fruitful and has made many people legitimately wealthy. This is exactly how Lewis Howes went from sleeping on his sister’s couch to being a millionaire 2 years later.

Selling an online course can be fairly simple work. Tools like Kajabi have made this accessible to even the technically illiterate. From building a website to selling and marketing your content – online course builders like Kajabi supply the entire back end needed.

The main thing you need is enough knowledge to fill roughly five videos worth of material that you can promote through your video series.

It doesn’t matter if you are training people to achieve higher employee engagement rates, teaching them to be better chefs, or helping them learn to meditate; people are searching for everything online. Don’t be timid with your knowledge.

Online courses differ from a webinar series in that courses provide a step-by-step program with clearly defined goals. Additionally, courses typically integrate supplemental materials like worksheets, checklists, and similar content that are worked on or referenced inside and outside of the course.

Related: Forget The 4Ps Of Selling. It’s Time For A New Selling Strategy

3Promote Your Product

Pitching a product during a free webinar is certainly the most common way to generate revenue through this medium, but that’s because it’s extremely effective.

This one is fairly easy to model and replicate using the following steps:

  • Promote a free event with content and email marketing, supplemented by PPC advertising
  • Spend the first 30 minutes of the webinar providing your audience with valuable advice that they can use to improve their life or career.
  • Pitch viewers your product or service by tying it back to the original pain point that got them to sign up in the first place.

The best part about this model is that everybody wins. The attendees gain actionable wisdom and expertise. You widen your audience, collect a bunch of email addresses, and likely gain a few customers too. If you integrate a proposal software in conjunction, you’ve got an insanely streamlined acquisition and onboarding process.

4Use a Webinar as a Sales Tool

This is one of the easiest tactics to implement as it requires almost no extra effort.

You can add value to a subscription, membership, course, product, or service that you are offering by adding in webinar recordings as a bonus; this is a fantastic way of driving additional sales.

Another way to approach this simplistic sales scheme is to create a sense of urgency around purchasing something by offering your webinar(s) as a “limited time” extra; something that consumers would normally have to pay for.

Related: Using An Online Meeting To Talk With Your Subscribers

For any potential customers that find themselves riding the fence on whether to make the purchase or not, this is often the extra push that they needed to click that “Buy Now” CTA.

These are just a few of the ways to earn money using webinars; ClickMeeting’s eBook dives into scads more details. Many entrepreneurs have made webinars the platform on which they built their fortune; do not underestimate their power. This broadcasting tool is the real deal, and you should be in on the action too.

Adam is a freelance social media and small business marketing consultant specializing in helping "brick and mortar" business to master the online sphere. Adam has been creating content and paid media strategies for business for over a decade and is widely cited guest blogger on marketing sites. Adam is a New York City native and a big sports fan of anything from New York.

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Company Posts

South Africa Seeks Innovative Solutions to Payments Systems

How to bridge the divide and bring FinTech technology and a new infrastructure of POS systems to the masses.

Harald Merckel

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News has been circulating that high-level players in South Africa are working hard to introduce structural changes in payments solutions. Some of the biggest players in the industry, including the Payments Association of South Africa, and BankservAfrica have begun work in earnest on facilitating expedited transactions settlements, by adding new payments systems and features into the market.

Financial technology, a.k.a. FinTech is powering the payments gateway to cost-effective solutions for South African businesses, consumers, domestic and international stakeholders. According to industry pundits, the payment system that currently exists in South Africa was formulated in the 1980s. At the time, it was highly regarded by world standards. However, the rampant innovation that has taken place with the Internet of things since then necessitates updating.

Various solutions have been touted, to rethink the infrastructure framework that currently exists in South Africa. The economy is rapidly changing, and mobile technology is being embraced across the board. The South African payments system is long overdue for an upgrade, as shifting priorities and the widespread digitisation of the economy take place. For starters, payments solutions across South Africa must factor in the large underbanked and unbanked sectors of society.

Related: 6 Lessons The Founders Of iKhokha Used To Launch An African Fintech Start-up

A key industry player, Bankserv which is owned and operated by Standard Bank, ABSA, and Nedbank among others is ringing the changes. Back in 2017, this financial entity processed R188.2 billion worth of ATM transactions. The total number of transactions numbered 452.6 million additionally. It processed 52.5 billion POS transactions valued at R290.9 billion in credit card authorizations in the same year. Electronic funds transfers (EFTs) to the value of R9.4 trillion were also processed by Bankserv. These are significant figures, and they point to a shift in financial transactions processing in South Africa.

Groundbreaking POS Systems to Debut in SA

The widespread innovation currently taking place in POS systems is reshaping retail industry, the food and beverage service, and other merchant networks across the board. One of the industry leaders in this regard is revel systems POS. It is fully integrated with a robust selection of features, the likes of which include superior reporting features, full kiosk functionality, and a modern kitchen display system for the thriving restaurant industry in South Africa. The technology was created back in 2010 by Chris Ciabarra and Lisa Falzone as an innovative Apple iPad point-of-sale system. It was tested in the San Francisco Bay Area and became an instant hit.

Today, the Revel POS system sports 25,000+ terminals around the world, at high profile company such as Cinnabon, Goodwill, Smoothie King and others. South African restaurants and food industry businesses can enjoy monthly subscription fees, and the software license is included in the monthly subscription fee. Flexible pricing is another advantage of using this POS system. Plus, users get to enjoy industry-specific software and integrations that can be used by quick service businesses and restaurants.

It’s ideally suited to businesses that have 500,000 SKUs, although it’s equally adept at serving smaller SA businesses. In terms of ease-of-use, this POS is intuitive for front-end use, and training videos facilitate backend learning and integration. The backend management is particularly effective in terms of training regimens, navigation, and utilisation. All that’s required to get started is an Apple iOS device, and any standard barcode scanner is fully compatible with the system.

Related: How Fintech Zoona Is Solving Customers’ Real Problems

Among the many features include the following:

  • Fully Functional point-of-sale systems
  • Real-Time Inventory control of SKUs, including cost considerations, pricing, inventory, size, colour, style etc. Digital menu boards, kitchen display systems, and kiosk point-of-sale systems are also available
  • Purchase Order Management and QuickBooks integration
  • Customer Management in terms of purchases, details and personal data is also available.

What Are the Current FinTech Challenges in South Africa?

Contrary to widespread belief, South Africa has one of the most sophisticated payments infrastructures. This is certainly a feather in the cap for South Africa’s financial and FinTech sector. Given that Internet usage is widespread, and the telecom network that facilitates Internet functionality is highly developed, South Africa ranks on par with the best of them.

There are effectively 2 parallel economies operating in South Africa – the first world developed FinTech economy, and the informal economy which dominates the outlying areas. South Africa has a challenge on its hands: How to bridge the divide and bring FinTech technology and a new infrastructure of POS systems to the masses.

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Company Posts

Investing In Value Creation Tools Can Help Your Business Grow

ACCA on attracting new clients, establishing and strengthening commercial partnerships and accessing external finance to help your business expand.

ACCA

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The business journey of many SMEs is often characterised by a gradual change in internal management practices which develop as the business operations grow. The subsequent recognition of the business’s value creation, across all its operations – tends to emerge slowly but surely alongside this process.

Gaining an understanding of ongoing value creation can be challenging. This is because smaller companies tend to not have access to simple and understandable data sets on everything, which is and isn’t contributing to value across the business.

For example, customer and supplier relationships, human capital and intellectual property are all common examples of activities where SMEs regularly experience difficulties in determining the real contribution to the businesses’ overall value. These are areas that are not picked up by financial reports that are a focal point of many growing businesses, hence the importance of these areas in business is not given the proper attention it deserves.

Related: Achieving Business Success: How Walter Muwandi Gained The Edge

However, by improving trust and relationships between customers and those along your supply chain, this information can be used to attract new clients, establish and strengthen commercial partnerships and access external finance to help your business expand.

Key actions to consider when capturing the value within your business include the following:

  1. Use cloud and data analytics technology to support growth;
  2. Create a business strategy which incorporates everything;
  3. Allow staff to use new technologies to innovate; and
  4. Appreciate the importance of technology in attracting external finance.

These actions will help you succeed in developing a successful business strategy.

Use cloud and data analytics technology to support growth

Purchasing relevant software packages could help you access the data you need to understand where and when value is being created. Cloud and data analytics technology can provide a real-time flow of information, offering detailed measures across workflows, whilst also complementing existing reporting processes.

More long term, this technology can provide you with greater flexibility when anticipating future periods of growth.

For example, when the time comes to up-scale your business operations, it could help your finance function adapt more easily to any additional demands being placed upon it and mitigate the risk of disruption towards ongoing operations.

At the same time investing in this technology doesn’t have to happen overnight. Software packages can be purchased in stages and tailored to meet the specific needs of your business.

Create a business strategy which incorporates everything

Business success will often be determined by how effectively you can combine the value of ongoing operations into the development of a single, overarching business strategy. Understanding of the key strategic themes by employees is critical in aiding future business expansion plans and growth. This integration can support planning processes.

By taking a short, medium and long-term view on how value creation might change across the business, you will be in a much better place to identify upcoming risks and opportunities related to your growth ambitions.

The practical delivery of this might involve regular integrated reporting across your business’s operations. The more data that is involved in this process, the more helpful it will be towards informing your management decisions.

Allow work teams to use new technologies to innovate

Companies might also want to consider supporting work teams in certain areas to come up with new ideas to enhance plans for business growth and learn from possible failures, without the personal risks that entrepreneurship entails.

Allowing employees to use new technologies could help to reduce costs and offer new revenue opportunities as your business expands. It could also help to stimulate a high growth business and to fully communicate business’s value to potential clients and commercial partners.

Related: The Rise Of Digital In Shaping Business Terrains

Appreciate the importance of technology in attracting external finance

Investing in technology at an early stage can help attract external investors, as well as reducing the cost of raising growth finance. Such investors need to be able to understand the broader strategy of your business.

Lenders are increasingly using data to build up a broad perspective on the growth potential of SMEs. If you can provide real-time information – rather than just historical data – of your business’s performance, this could greatly increase the chances of obtaining the finance you need to grow.

However, there remains a gap and potential to co-create new approaches of raising capital amongst growing businesses and in creating agreed terms of sharing risks. This could bolster the advancement of entrepreneurial houses toward creating real economic equity in long term.

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Accounting & Payroll

Save Your SME Money With A Good Payroll Management System

Not only does an efficient payroll system enhance staff morale and boosts your reputation, it can also save your business significant costs.

Sage

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Payroll solutions are designed to help hone the strategic focus of your business’ HR department, by shifting HR and payroll managers’ from paperwork to developing and motivating employees.

“The biggest potential saving comes from full compliance with tax and labour laws and regulations,” says Ania Strydom, Compliance Specialist at Sage. “Avoiding the massive costs of fines, interest and penalties that a company risks if it doesn’t comply.”

Here are her tips for conducting payroll, saving money on a good system, and pitfalls to avoid that most SMEs don’t see coming:

Choosing a viable payroll management solution

  • Look for a scalable product that can grow alongside the business
  • Find a solution with full local support that is kept up to date with relevant labour and tax laws for the markets where the business operates
  • Make sure the vendor has a proven track record and local reference sites
  • Ensure that the solution is built on flexible modern technology that accommodates today’s trends — mobility and the cloud, for example
  • Consider a solution with integrated employee self-service functionality.

Related: Brand And Marketing: Finding The Balance For SMEs

Vital considerations when conducting payroll

  • Ensure that the payroll department consists of people with a good knowledge of payroll and the required skills set to ensure success and compliance with payroll
  • Instil a payroll environment that does not need regular review
  • Conduct regular payroll compliance audits to ensure compliance minimises the risk of exposure.

How a good payroll management system actually save you money

  • Using automated payroll software with employee self-service functions can help organisations save time as it diminishes the need for manual data capture, calculations, reporting or returns
  • Rest easy knowing that automation reduces the possibility of human error, allowing businesses to focus on strategy, customers, and employee engagement rather than on red tape
  • Payroll can help businesses understand how employees are contributing to profitability, what resources are needed, the cost for major projects, and identifying gaps or surpluses in their human capacity
  • The risks of payroll fraud and incorrect payments are reduced by giving managers better visibility into transactions, providing an audit trail, and providing a set of controls, checks and balances
  • The biggest potential saving comes from full compliance with tax and labour laws and regulations – avoiding the massive costs of fines, interest and penalties that a company risks if it doesn’t comply.

Related: SME Leaders: How You Can Manage Growth

Avoid payroll errors SMEs typically make

  • The use of manual solutions due to tight budgets. They should instead, look at affordable, cloud-based solutions that are priced per payslip per month instead
  • Failing to enforce separation of duties. Different people should have responsibility for capturing payroll data and for managing access to the system as well as adding and removing employees from the payroll. Another person checking that the numbers add up could reduce risks of fraud and error
  • Not keeping abreast of changes to tax and labour laws such as the Employment Tax Incentive.

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