This is one way to use teleseminars to make money, even if you don’t have your own list, reputation, or following. You strive to host a free multi-day telesummit on a compelling topic of interest to a definable group, such as women over 50, pet store owners, or aspiring marathon runners. The telesummit consists of multiple one-hour conference call telephone sessions. In each of them, interview an expert on a topic related to the general theme of Telesummit. Although the basic telesummit has no entry fee, you offer an option that costs enough money to give you a healthy profit.
Experts readily agree to participate in such telesummits because they understand that publicity introduces them to people who have not yet heard of them. Experts also earn commission on the sales of people who signed up for their list and have the opportunity to invite other participants to sign up for their marketing list. Ask experts to promote the telesummit to their lists, which they typically do to receive commissions and new signups.
Here’s how to plan and execute this type of profitable telesummit.
Step 1: Define the theme of your free multi-day telesummit. Invite 5-20 renowned experts to participate. Each session is a one-hour interview with a renowned expert for you. Create a web page or site that contains descriptions of the experts and their sessions, the dates, and how to register. Also create emails for experts to send about the telesummit to their lists.
Step 2: When participants register for the telesummit on your website, offer them two options: register for free, which gives them access to all live sessions, or register for $197 (or some other price), which it allows them access to all live sessions plus recordings and transcripts of each session. Sometimes there is a third, more expensive option that provides additional privileges and benefits related to the topic of the telesummit.
Step 3 – During each live session, briefly remind participants that they can sign up for the premium option and receive all recordings and transcripts. Additionally, each expert has a gift offer that they describe at the end of their interview, which interested listeners receive after signing up for that expert’s list. After the last live session, send an email again to everyone who signed up for the series, outlining the highlights of the sessions and inviting them to invest in the recordings and transcripts for their permanent library. A good rule of thumb is that at least 10 percent of participants typically opt for the paid upsell.
Should this telesummit be a series of free webinars instead of free teleseminars? Usually not. The logistical complications for both you and the presenters are greatly increased with webinars compared to teleseminars. Remember that people can call into a teleseminar and listen while driving, exercising, or cooking dinner, but that’s not true for webinars. On the other hand, if the topic of your telesummit calls for images, you may be better off with the webinar format.