The Decline of Webinars [What’s The Answer]

By Oli Luke

The New Offline Strategy We Put In Place for a Client, The New Sales Process and the Results

 I’ve been saying it for a while now – but Webinars will slowly but surely die.

Don’t get me wrong, across our clients, we generate tens of thousands of registrants each month and make a lot of money from them.

But over the past 18 months – the results have gone just one way.

  • It costs more to generate a registration
  • The show-up rates of the people that register is down
  • And the close-rate when selling/pitching is down.

For the past couple of years, the key strategy that we’ve had for one of my private clients was Webinars.

We drove people directly to a Webinar from Facebook – we then pitched a £1000.00 training, which always resulted in 30% of the buyers investing up to £7000 more for additional coaching.

It was highly profitable.

But month-on-month, we’ve watched as the results have dipped more and more.

So, last month – I made the bold decision to scrap Webinars and move our sales process offline.

It was uncomfortable for the client (as this has been their model for nearly two years) – but for the sake of their business and his growth – we had to make the leap.

I mapped out a plan to start running free monthly events across the UK.

In this article, I want to share the sales process, details and final numbers from the first event (that took place at the end of February).

Out of respect, and because we’re talking direct cash/numbers – I’m not going to share the client details/screenshots – which I’m sure you understand – but everything I’m about to share is 100% accurate – don’t mix me up with those “experts” that spout numbers with no evidence that we all know are bullshit.

Our Sales Process

 We broke our sales process into three steps.

  1. Generating Traffic

 We ran adverts on both Facebook and Instagram that promoted an upcoming free property event, with the strong hook of able to generate income from property without any money down.

We targeted a large range of audiences – all within 60km of the venue in Central London – aiming at an age group between 25-50.

Across both platforms, it cost us £19.63 to generate each lead.

  1. Event Sales Page

We developed a strong event sales page that was structured very simply – which I built, and I’m no designer – big headline/promise, bullets of what they’ll learn and event details.

Then the call-to-action was to apply to receive complimentary tickets (only 100 available).

Interestingly, my page was split-test against a fancy one that was created by a designer – that looked stunning.

My page shit all over his.

The right direct-response fundamentals always out-perform fancy design – in this instance, my page converted at 19% whilst the fancy one converted at 7.5%.

Brains beat beauty once again.

Luckily for Sophie. I’m both … and seven inches long (if I stick the ruler deep into my pubic region when measuring).

Anyway …

Sorry.

Back to the sales process.

The application form that we asked people to fill out asked for their name, email address, phone number, how many tickets they want and reason they want to attend

As I mentioned above, it cost us £19.63 per lead that completed this form.

We generated a total 292 registrants – spending a budget of £5,731

  1. Follow-Up

 As soon as the lead came in, we aimed to call them within ten minutes and congratulate them on their application being successful.

Upon speaking to them, we then filled out an internal form that sent them event confirmation details (venue, times, details).

Then between them completing the form and the event taking place – we sent a series of emails and SMS messages which contained pre-event training, details of the event and a countdown to the big day.

What Were The Results?

 Well, we had 282 people apply for tickets.

On the day, we had just 65 people show-up, which is just 22% – this really pissed us off, we wanted at least 50%.

We ran a full day of training, and offered a £2,000 sales pitch at the end of the day that seven people accepted – resulting in £14,000 of sales [11% close rate] – we wanted 20%+

Mehhh.

Just to give you some top-line numbers.

Spent: £7,500 (traffic & event hosting)

Sales: £14,000 (plus, we expect two of the seven to lead to an additional £14,000 of coaching).

New leads on our list: 292

This wasn’t as profitable as we hoped – although it will still be responsible for a minimum of £20,000 or profit – but we can clearly see where the hole in the bucket is, and we can fix it for our next event.

We need a better show-up rate than 22%.

If that number was the 50% that we anticipated – then this event would have give us £32,000 of sales (with another expected £35,000 of additional sales from coaching) = £68,000

When we get to this stage – we can then be confident increasing our traffic and getting 500+ registrants – which give us something of scale.

How Are We Going to Fix The Hole In The Bucket?

The problem was the gap between people registering and people showing up – so we need to plug two things into this gap.

Firstly, we need to hire another sales person.

Each lead needs an initial phone call to offer them tickets, and they need multiple calls between their application and the date of the event – if we can hold them accountable to attend, it will push many others over the line.

Secondly, we need to plug in direct mail.

When we accept an application, we’re going to mail official high-quality tickets to the prospect.

If they receive ticket(s) that have a high perceived value with a letter than reminds them of all the reasons to attend, then these tickets massively impact our show-up conversion.

We also need the client to close more people in the room – but hey, we’ll keep that between me and you and I’ll fix the gaps in the marketing process 😉

We’re now planning for our next event which is taking place in Manchester at the end of April – where we’ll fill these gaps and review the results.

But eventually, this will be a multi-million-pound sales process.

It will give the client scale, it will allow him to run events in multiple cities and there may be an opportunity to have reps/staff delivering this training.

Now, there’s the thing – when you first started reading this, were you probably expecting me to show you some huge numbers and amazing results that had been generated, right?

But unfortunately, with marketing – those big numbers often come down the line.

It takes a lot of tweaking, a lot of “filling holes in buckets” and a lot of number trying different angles, before you find the sweet spot.

You’ll no doubt see marketers throwing numbers around giving the impression that everything they touch turns to gold – but it’s simply not true – the best sales processes and marketing have taken months/years of refinement.

The problem with most businesses is that they’re never open to refining/tweaking – they just move onto something else when things don’t instantly work rather than going down the rabbit hole.

If you look at a trait that many successful businesses have, they go down the rabbit hole and aren’t scared of failing because they know the each failure is a step closer to getting it right.

Be the rabbit, my friend.

 

700k campaign

SWIPE FILES OF $700,000 DIRECT MAIL CAMPAIGN?

The “Take-Away” Direct Mail Campaign That Generated $700,000 of Sales from a Small Burnt-Out Email List (Without Having Any of the Subscribers Postal Details).

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700k campaign

Swipe Files & Campaign Walkthrough

The “Take-Away” Direct Mail Campaign That Generated $700,000 of Sales from a Small Burnt-Out Email List (Without Having Any of the Subscribers Postal Details).

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