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The cost of attending virtual events

by MarkBlackburn
32 replies
Seeing as the virtual event (conference, exhibition) is here to stay, what should we be paying to attend or sponsor these things?
It seems to me that the cost of sponsoring a virtual event is exactly the same, if not more than it's 3D predecessor.
Are current pricings here to stay or is this offsetting initial development or technology costs, ahead of prices then subsequently coming down?
Welcome your thoughts, especially if you're in the events business!
#attending #cost #events #virtual
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  • Profile picture of the author agmccall
    The market will dictate

    al
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    A bar of iron cost $5. Made into horseshoes, it's worth $12. Made into needles, it's worth $3500. Made into balance springs for watches, it's worth $300,000. Your value is determined by what you are able to make of yourself

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  • Profile picture of the author Monetize
    I agree with Al. It depends on what is being offered at the
    virtual event. If there will be training sessions on increasing
    people's income, that should cost more than something like
    a virtual fashion show or other useless information.
    And yes, I've done events before.
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    • Profile picture of the author MarkBlackburn
      Thanks Monetize I think virtual events throw into contrast the value and non- value adding parts of the event
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  • Profile picture of the author Serene Carmen
    Hi Mark

    One would assume the cost should be lower as you no longer have the overhead costs of the venue, food etc.

    Saying that it ultimately comes down to what people are willing to pay.
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    • Profile picture of the author MarkBlackburn
      Thanks Cerene, time to bring out the negotiation skills!
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  • Profile picture of the author Bella zanny
    It should be less and the cost of organizing it are usually zero or little. Most vitual events are free or cost a little amount
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  • Profile picture of the author Frank Donovan
    Originally Posted by MarkBlackburn View Post

    Seeing as the virtual event (conference, exhibition) is here to stay, what should we be paying to attend or sponsor these things?
    It seems to me that the cost of sponsoring a virtual event is exactly the same, if not more than it's 3D predecessor.
    If you're sponsoring an event, it doesn't really matter whether it's online or offline. The important metric is how many of your target market are likely to be exposed to your branding.

    For some markets, sponsoring a virtual event could well be more effective.
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    • Profile picture of the author MarkBlackburn
      Thanks Frank, had the same discussion with colleagues yesterday. It seems value, as ever, lies in access to the audience. However, is there as much value when the access is only virtual?
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  • Profile picture of the author Claude Whitacre
    What you charge has nothing to do with what it costs to put on the event.

    Recently, I've seen Dan Kennedy put on virtual events at the same price as in person events.
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    • Profile picture of the author Monetize
      Originally Posted by Claude Whitacre View Post

      What you charge has nothing to do with what it costs to put on the event.

      Recently, I've seen Dan Kennedy put on virtual events at the same price as in person events.

      Doesn't he charge something like $5,000?

      And his people gladly pay it too.
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      • Profile picture of the author Claude Whitacre
        Originally Posted by Monetize View Post

        Doesn't he charge something like $5,000?

        And his people gladly pay it too.

        Between $1,500 and $5,000. Yes, his people expect it. That's for at least a full day of speakers. Usually a three day event.
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  • Profile picture of the author DABK
    As an attendee, I used to be willing to pay extra to attend events without leaving my office / house.


    The value was in the info I received.



    The event cost money to put up, more money if they have to rent a space... but attending one in person costs more than attending one virtually.. Time to get there, gas / plane tickets, etc.


    There is no clear-cut reason why in-person should cost more than virtual.


    I used to attend networking events in the last year that were virtual... that I cannot attend anymore as they want to do them in-person and that would take to much of my time. They are free to attend, both ways. The only thing that comes into play is my time. For some, it takes as little as 20 minutes to get to (and 20 to come back), for others, it takes 1 hour or so.


    The value of the connections is not there for me to go one hour... though I am going 20 minutes.


    So, I found out what my upper price is for a free networking event: 40 minutes.


    Come to think of it, I'm kind of generous. I think I will ask that everyone address me as Your High Excellency. I mean, I'm giving them 40 minutes + the event time!


    A bit more serious, Claude brought this up: value and costs are not the same and value is relative to the people involved.


    In my days as an appraiser, I had a hard time training some people: they just could not get how a shithole (in relation to the 4000 sq ft house in a gated community they lived in) had any value.


    Literally, one of them, for her first assignment, I took her with me to appraise a house in a neighborhood with average prices of $150k. While we were inspecting the house... it was made of cheap materials but well maintained), she whispered to me: DABK, this can't be worth a penny.


    And, to her, who lived in a 500k house, it was not worth a penny. But the appraisers' definition is: the value of a typical buyer and typical seller, both sufficiently knowledgeable and not moved by atypical reasons (I paraphrase).


    She was, clearly, not a typical buyer for that neighborhood.


    The same is going to be with virtual events: in some industries, the prices will be high, in some not as high... Because the people attending and the people putting up the events are different, the materials to be learned are different, etc.



    Originally Posted by MarkBlackburn View Post

    Seeing as the virtual event (conference, exhibition) is here to stay, what should we be paying to attend or sponsor these things?
    It seems to me that the cost of sponsoring a virtual event is exactly the same, if not more than it's 3D predecessor.
    Are current pricings here to stay or is this offsetting initial development or technology costs, ahead of prices then subsequently coming down?
    Welcome your thoughts, especially if you're in the events business!
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    • Profile picture of the author MarkBlackburn
      Thanks DABK,
      Value is in the eye of the beholder then. I understand that concept at one level - at another level doesn't group consensus set the level?
      Cheers,
      Mark
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      • Profile picture of the author DABK
        Yes, Mark, group consensus does set it. But which group? There are always different groups.

        There is the group that buys Honda Civics, the group that buys Prius, the group that buys the Alpha Romeos, the group that thinks bicycles are the way to go, the group that thinks you don't ever need to own a car.

        Same with this. Something like what Claude wrote above is going to happen here.

        Originally Posted by MarkBlackburn View Post

        Thanks DABK,
        Value is in the eye of the beholder then. I understand that concept at one level - at another level doesn't group consensus set the level?
        Cheers,
        Mark
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  • Profile picture of the author John Jonas Phil VA
    I'd be willing to pay if I'll be getting something I wouldn't be getting anywhere else. I've seen virtual events that offer exclusive resources and the mailing list of participants as part of what you're paying.
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    • Profile picture of the author MarkBlackburn
      Yes John, with GDPR providing a hurdle to climb over in the acquisition and sharing of data, I can see how providing a mailing list has value.
      Thanks
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  • Profile picture of the author N1coleW
    Of cource the cost should be lower, as you basically paying only for the information that you can get without any stuff like food, drinks, intertainments
    In general the cost that will be spend on online event will be lower in 3-4 times
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    • Profile picture of the author MarkBlackburn
      Thanks N1coleW, are you actually seeing events at a fraction of the previous price? If so, in which sectors?
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      • Profile picture of the author Claude Whitacre
        Originally Posted by MarkBlackburn View Post

        Thanks N1coleW, are you actually seeing events at a fraction of the previous price? If so, in which sectors?
        The questions you need to answer are;
        What is the purpose of the event? Are you pitching something, and the event is essentially a presentation?

        Are you giving expert knowledge that is in demand? Is the event the actual end product you are offering?

        Are you marketing to people that are used to paying for information? How many people are presenting at your event, for how long in total?

        A virtual event can be sold at the same price as a live event. There are advantages to virtual events as well as live events. You just sell the advantages of a virtual event.

        The only way I can see charging more for a live event is if it's over several days, and involves a destination that people want to travel to anyway...a sort of vacation.

        And, with a virtual event, you can price test. Where do you make the most money per hundred prospects?

        There will be a price you charge for the event that will maximize your total profits. after a few events, you'll settle on a price that makes it worthwhile.

        Here's an example of price testing.

        Years ago, I sold a vacuum cleaner in people's homes. I did it by cold calling (No referrals when price testing). Everyone in the country was selling this vacuum cleaner for $999.

        One month I changed the price to $1,299, then $1,499, then $1,599, then $1,799.

        There was almost no drop off in sales at $1,299 or $1,499. A small drop off at $1,599, and sales plummeted at $1,799.

        So I knew that $1,799 was too much to absorb. Maybe it was a payment threshold,

        So I made the price $1,599 (and later lowered it to $1,589 to make the total of payments under a threshold.)

        This price gave me by far the most profit per presentation.

        A myth is that you can sell 100% if it's free with a sliding scale until nobody buys.

        I know this because I price tested. I offered my $1,600 vacuum cleaner for $19.95 on quite a few presentations. I did that because the price was $1,995, and had a typo. I decided to see what old happen if I just said it was "nineteen ninety five". Of course, if they said yes, I would correct myself.

        My test results?

        At $999, about 45% bought (of the people who saw my entire presentation) These are on cold calls.

        At $1,295, it went down to 41%. At $1,499 it was 40% and at $1,599 it was still 40%. At $1,799 it went to 15%.

        People I told it was $19.95? 50% said Yes at the price. (this was several years after my previous price test, when the price was actually $1,995). Even after they told me how wonderful it was, half of the people wouldn't pay $20.

        I still heard the exact same objections at $19.95 as I always had. "Well, right now is a bad time"..."We'll have to think about it"....at only $20. I'm not joking. I even quoted a monthly payment of $1, with no down payment. I would still hear "Well, right now that dollar would make a difference." or "What's the interest rate?"

        Human nature. Rarely has any sales experience taught me more about how people think.
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        • Profile picture of the author MarkBlackburn
          Thank you, this is fascinating Claude,
          Pricing really is a branch of psychology!
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          • Profile picture of the author Claude Whitacre
            Originally Posted by MarkBlackburn View Post

            Thank you, this is fascinating Claude,
            Pricing really is a branch of psychology!
            What it taught me (along with other experiences) is the following.

            Some people won't buy at any price. And that percentage is higher than most would imagine. Selling scuba gear to a guy in a desert won't get you sales, no matter the price.

            Price is elastic for the serious buyers. For example, many prices will get you "That's a lot of money". But the same feeling will be there for a wide range of prices. And "That's a lot of money" is way different than "That's more than I'll pay".

            Eventually you hit a price that is unacceptable to the majority of serious buyers. It's as though that price snaps them out of their slumber. A mentor once said it as "They come out from under the ether".

            Possibly the most important thing I learned about pricing was to get the price out (as long at it's a single price) as soon as possible.

            Why? Sticker shock. And if you get it out in the beginning you show them that the price is acceptable and normal. But the big advantage is, it gives the price time to soak in...to be accepted. And during the presentation, they are comparing what they hear to the price, doing a value equivalency (of course this isn't done consciously).

            When you hear a sales objection, especially about money, it's usually an objection to something they heard right at the end...that they haven't had time to accept.

            What does this have to do with events?

            Assuming you are selling something, at the beginning, you mention the prices of a couple of things related to what you do, but that cost more. Then you mention the price of your offer (which is slightly less than what you just mentioned.)

            And then sell (by educating) until you have shown a multiple in value over the cost of your offer. And then include something they can't get elsewhere.

            I like to (in speeches) drop my price and double what they get. The endorphin rush of a bargain (for something they really want now) causes sales.

            hope that's useful.
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        • Profile picture of the author max5ty
          Originally Posted by Claude Whitacre View Post

          The questions you need to answer are;
          What is the purpose of the event? Are you pitching something, and the event is essentially a presentation?

          Are you giving expert knowledge that is in demand? Is the event the actual end product you are offering?

          Are you marketing to people that are used to paying for information? How many people are presenting at your event, for how long in total?

          A virtual event can be sold at the same price as a live event. There are advantages to virtual events as well as live events. You just sell the advantages of a virtual event.

          The only way I can see charging more for a live event is if it's over several days, and involves a destination that people want to travel to anyway...a sort of vacation.

          And, with a virtual event, you can price test. Where do you make the most money per hundred prospects?

          There will be a price you charge for the event that will maximize your total profits. after a few events, you'll settle on a price that makes it worthwhile.

          Here's an example of price testing.

          Years ago, I sold a vacuum cleaner in people's homes. I did it by cold calling (No referrals when price testing). Everyone in the country was selling this vacuum cleaner for $999.

          One month I changed the price to $1,299, then $1,499, then $1,599, then $1,799.

          There was almost no drop off in sales at $1,299 or $1,499. A small drop off at $1,599, and sales plummeted at $1,799.

          So I knew that $1,799 was too much to absorb. Maybe it was a payment threshold,

          So I made the price $1,599 (and later lowered it to $1,589 to make the total of payments under a threshold.)

          This price gave me by far the most profit per presentation.

          A myth is that you can sell 100% if it's free with a sliding scale until nobody buys.

          I know this because I price tested. I offered my $1,600 vacuum cleaner for $19.95 on quite a few presentations. I did that because the price was $1,995, and had a typo. I decided to see what old happen if I just said it was "nineteen ninety five". Of course, if they said yes, I would correct myself.

          My test results?

          At $999, about 45% bought (of the people who saw my entire presentation) These are on cold calls.

          At $1,295, it went down to 41%. At $1,499 it was 40% and at $1,599 it was still 40%. At $1,799 it went to 15%.

          People I told it was $19.95? 50% said Yes at the price. (this was several years after my previous price test, when the price was actually $1,995). Even after they told me how wonderful it was, half of the people wouldn't pay $20.

          I still heard the exact same objections at $19.95 as I always had. "Well, right now is a bad time"..."We'll have to think about it"....at only $20. I'm not joking. I even quoted a monthly payment of $1, with no down payment. I would still hear "Well, right now that dollar would make a difference." or "What's the interest rate?"

          Human nature. Rarely has any sales experience taught me more about how people think.
          Interesting.

          One thing I've found about pricing is that you have to test it to those who are actually in the market to buy.

          $20 may not be too much, but if they have no interest it's not compelling.

          I could advertise my Tesla for $5000 and some would think it's still too much...they're not my target buyers (if I were selling).

          I've found to never test price with those who aren't even in the market for what I'm offering. It can confuse even the best marketer.

          When you start to try and test with "crazies" you get all over the place.

          Anyways, thanks for sharing your results
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          • Profile picture of the author Claude Whitacre
            Originally Posted by max5ty View Post

            Interesting.

            One thing I've found about pricing is that you have to test it to those who are actually in the market to buy.

            $20 may not be too much, but if they have no interest it's not compelling.
            That was my conclusion. They just weren't interested at all.

            But then, that brings up a whole other set of observations.
            If they weren't interested at all, why did they sit through a 90 minute presentation, that they didn't need to? I'm assuming they didn't know that, at any time, they could have just said "I'm not interested", and I would have gladly left.

            And they still gave sales objections, even though they weren't interested at all. In my entire sales career, of selling in people's homes....I've only heard one "No".

            One "No", out of over 12,000 presentations. Why? They didn't want to break rapport. They felt obligated socially to give a reason they weren't able to buy (it was always not able). That reason was always something outside their control, that made it impossible for them to say "Yes". It took a few decades before I could tell when they were genuinely not interested, but wouldn't say "No"...or if they were interested, just not enough to say "Yes" at the moment.

            And, as painful as this was, I couldn't just ask them. Why? Because they would continue "in character", not wanting to be inconsistent with their previous reasons.

            If you want to really understand human nature, give the same exact presentation to thousands of people. Patterns emerge. You know pretty much what they are going to say, then what you are going to say, then what they are going to say. And when they are going to buy or not. And you cannot shorten the process, or it kills the flow.

            Like a stage actor, or a stand up comedian that has given the same performance 1,000 times. You know every beat, every laugh.

            You can see the future.


            Originally Posted by max5ty View Post

            I've found to never test price with those who aren't even in the market for what I'm offering. It can confuse even the best marketer.
            None of the people who bought from me, in my price tests, were interested in buying before I showed up. Almost nobody was remotely "in the market" for what I had. These sales were created out of whole cloth.

            That's why only 40% bought (or whatever the percentage).

            That's a huge gap in some sales and marketing. Some offers are highly unlikely to ever be bought, unless someone has indicated that they were in the market and already interested.

            In some sales, they don't have to be thinking about it at all, before they talk to you.

            For example, when I sold life insurance and vacuum cleaners...it didn't matter at all if they saw themselves as "in the market" before I got there.

            It did matter a lot if they had ever bought something in the past from someone like me. Or if they knew someone else that bought from me. That helped a lot. But them being interested? No.

            I had to create the "need" while I was there. I had to make them "in the market" while I was there.

            Selling a business to someone not "in the market", or a home, or a car, I think would be far harder. Most product offers need to already have a "need" or the offer falls on deaf ears, I think.

            That last paragraph is a little outside my experience. So I may be off.

            Added later,

            Marketing is different from in person selling. For example, sending direct mail offers to people who have not already indicated an interest would be silly. And expensive.
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  • Profile picture of the author max5ty
    There is no answer to this question.

    It's asking what should we pay for information.

    There is no set price.

    If you can get the same at a virtual event as one where people fly to attend...it's a matter of does the content you're giving have the same value? And will people pay more or less?

    There are no set answers.

    Virtual doesn't make the content provided any less valuable...it may save on hotel costs, rental cars, airfares, etc., but would people pay more for the convenience of saving those costs?

    There is no right answer. And no answer that would make any logical reasoning.

    Some may pay more to virtually attend because it saves them setting up the logistics...

    some may want one on one interactions.

    There is no correct answer...and overthinking it will just lead to confusion.

    Set a price and test it.

    If the content delivers the same amount of value, it comes down to what your audience is willing to pay.

    So many variables that it doesn't have a logical answer
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  • Profile picture of the author max5ty
    Strange psychology...

    when you give a presentation to a group of people you need to get them past a tipping point.

    The bigger the group...the bigger the tipping point.

    Once you tip them, you have a rush. People are pack animals by nature. They follow the herd when they're in a group. There are different dynamics for a group than one on one.

    In a group setting, the audience will join the herd in their skepticism or jubilation...there's a point that tips the crowd. There are strategies on that but it's a long-drawn-out thing that can be boring.

    In a one-on-one situation where the salesperson puts on a good show (which is what I call good selling), the buyer is often left with a big decision and usually, they don't want to offend the presenter.

    They may have had no interest in your product but will give you the courtesy of listening to you and the whole time they're trying to figure out a great escape from the question they know you're going to ask (do you want this?).

    People are strange. It confuses me to this day about some of their odd ways.

    The more I try and understand people, the more confused I get sometimes.

    It's a science that I think sometimes is moving on so many different factors and events and circumstances and thoughts and situations and the world and...who knows...
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    • Profile picture of the author Claude Whitacre
      Originally Posted by max5ty View Post

      Strange psychology...

      when you give a presentation to a group of people you need to get them past a tipping point.

      The bigger the group...the bigger the tipping point.

      Once you tip them, you have a rush. People are pack animals by nature. They follow the herd when they're in a group. There are different dynamics for a group than one on one.

      In a group setting, the audience will join the herd in their skepticism or jubilation...there's a point that tips the crowd. There are strategies on that but it's a long-drawn-out thing that can be boring.

      Yup. In groups (an audience) people are a herd. The people around them influence how they behave. You can create a feeding frenzy in an audience. Or...they can turn on you as a group, and nobody will buy, no matter their level of interest,.

      But individually? This is pretty advanced stuff.

      You can create a feeding frenzy with that one person. They have to believe that the supply of what you have is less than the demand, and that everyone is after what you have. Marketing applied to selling.

      The advantage of a virtual group presentation is the low cost and short time needed to promote.

      The in person event takes more planning and money. But there is a chemistry, a smell, and sound...of people in the audience running to the back of the room, waiting to give you money...that cannot be replicated on video.

      I attended many 3 day Dan Kennedy (and others) events...paid $1,500 or more...just to study the pitches and how they got the people to buy in mass. And I would find joint venture partners (Gurus) to speak for and share the money.

      A little aside. One huge advantage of having a live event, is that some of the people who pay big money to be there, are there to pitch to the other attendees. At Kennedy events, that may have been 15% of the crowd. Sharks and piranha....trawling for guppies.
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      • Profile picture of the author max5ty
        Originally Posted by Claude Whitacre View Post




        I attended many 3 day Dan Kennedy (and others) events...paid $1,500 or more...just to study the pitches and how they got the people to buy in mass. And I would find joint venture partners (Gurus) to speak for and share the money.

        A little aside. One huge advantage of having a live event, is that some of the people who pay big money to be there, are there to pitch to the other attendees. At Kennedy events, that may have been 15% of the crowd. Sharks and piranha....trawling for guppies.
        And you've just exposed the biggest secret...

        these conferences aren't really set up to teach you anything. You can learn all this from Google. They're set up for you to network.

        Hey Bob, I've got an idea I want to push...will you give a testimonial...

        Hey Larry, I'm thinking about coming out with new software that will keep track of how many times you burp each day...can you help me with pushing it to your list?

        It's a big networking seminar.

        I would challenge anyone reading this post to tell me anything they've learned at any seminar they've ever attended that they couldn't have discovered through a simple google search...

        it's all about the connections you make and the networking possibilities. Just my honest opinion...

        it's all big money and big names and big ideas and big connections.

        I don't have anything against the conferences because I've done my share of them...just saying that they're not what makes or breaks a good marketing effort
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        • Profile picture of the author Claude Whitacre
          Originally Posted by max5ty View Post

          And you've just exposed the biggest secret...

          these conferences aren't really set up to teach you anything. You can learn all this from Google. They're set up for you to network.
          The bigger secret is that the vast majority of these events are given for the sole purpose of selling high end coaching programs. But what do you learn in coaching programs(for $1,000 a month or more)? The same thing as before, with some peer pressure built in.

          But the reason most people attend? Yup. The networking. These are businesspeople prospecting for sales, joint venture partners, favors, prospects.

          And you are right. These events teach what you can already find for free.

          For $100 on Amazon, you can find more on any subject than you'll be able to learn in a seminar. Or for free on Youtube, or on podcasts and interviews.

          On the other hand, most of what I actually learned at high end events was from a few of the attendees with vast experience, but weren't selling a course.

          Jordan Belfort sold his training course for $3,000...then $1,000....then $295....and now you can buy the course as a book on Amazon.

          And some people attend these events for different reasons than we discussed....to meet the guru...to meet friends in business....as a short vacation...to get away from the wife/husband/boss. As an annual ritual, like a pilgrimage.

          By the way, these events are the best places to prospect for business owners with money.

          Interesting stuff.
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          • Profile picture of the author max5ty
            [quote=Claude Whitacre;11670353]
            Originally Posted by max5ty View Post

            And you've just exposed the biggest secret...

            these conferences aren't really set up to teach you anything. You can learn all this from Google. They're set up for you to network.

            /QUOTE]

            The bigger secret is that the vast majority of these events are given for the sole purpose of selling high end coaching programs. But what do you learn in coaching programs(for $1,000 a month or more)? The same thing as before, with some peer pressure built in.

            But the reason most people attend? Yup. The networking. These are businesspeople prospecting for sales, joint venture partners, favors, prospects.

            And you are right. These events teach what you can already find for free.

            For $100 on Amazon, you can find more on any subject than you'll be able to learn in a seminar. Or for free on Youtube, or on podcasts and interviews.

            On the other hand, most of what I actually learned at high end events was from a few of the attendees with vast experience, but weren't selling a course.

            Jordan Belfort sold his training course for $3,000...then $1,000....then $295....and now you can buy the course as a book on Amazon.

            And some people attend these events for different reasons than we discussed....to meet the guru...to meet friends in business....as a short vacation...to get away from the wife/husband/boss. As an annual ritual, like a pilgrimage.

            By the way, these events are the best places to prospect for business owners with money.

            Interesting stuff.
            Yes...

            also one thing I forgot to mention (a big thing actually).

            These things are set up to entice affiliates.

            If you really think about stuff...

            you can learn marketing from a million different sources on the internet.

            You can learn copywriting from a million different sources.

            You can learn how to do Amazon and Shopify from a hundred different sources.

            Problem is, most people are always looking for a better source...they're always looking for an easier way...a quicker way...a tip or secret...

            There are no easier ways. You have Amazon and Shopify. How much easier do you need it?

            But yet, everyone is looking for a secret that will take them to the top in record time.

            A guy lists a product and it does $5000 in a weekend and decides to write a book on it...that was probably a mixture of luck and being in the right place at the right time (sorry if that offends some).

            I have known and talked to sooooo many so-called gurus that have crap out there now...and I can tell you that I honestly don't think they can or know how to repeat their success...yet they'll sell you something and that's how they're continuing to be halfway successful.

            You have to realize that most of these people getting into selling something have never sold anything in their lives...

            but they'll sell you a funnel on how to do it.

            I say keep it simple.

            A simple three-step funnel.

            Simple marketing.

            Simple copywriting - follow the simple stuff.

            It works.

            Usually, when people fail it's because they got too complicated and tried to overthink everything. They begin to read every book that someone is selling for $19.95...and a few months later it's still worthless...

            If you have a good product and a strong message, you'll sell as much as you want.

            Oh well, I'm getting boring on this whole thing.

            talk to everyone later and I wish you good success...
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            • Profile picture of the author Claude Whitacre
              Originally Posted by max5ty View Post


              .

              A guy lists a product and it does $5000 in a weekend and decides to write a book on it...that was probably a mixture of luck and being in the right place at the right time (sorry if that offends some).
              ...or the right joint venture partner, or the right affiliate promoting the offer.


              I was talking to Bill Glazer years ago at a Dan Kennedy event. About a thousand people were there, each paid $1,500 to be pitched to for three days.

              Most of the people (80%, if I remember correctly) there were new people that came from affiliates promoting the event to their lists.

              The people that got pitched the event? They got 22 direct mail promotions. The ones that didn't sign up were then called once by a skilled telemarketer.

              Two thirds were sold into the event with the telemarketing call, after 22 direct mail offers didn't close the deal. That's mailing and calling both Kennedy customers/subscribers and the affiliate leads.

              That short discussion made me think about several things.

              1) The right audience/list/affiliate customer base can make you.
              2) Direct mail pieces can sell, but not as well as an in person call from a trained salesperson.
              3) The name of the affiliate is more important than your name.

              Another example, I give phone interviews to minor gurus in some sort of sales niche. These interviews get posted on Youtube and other platforms. Many are transcribed into articles, mostly online.

              I can tell when one goes live, because i get a bump in book sales. And depending on the interviewer/platform/writer/magazine that can be dozens to hundreds of copies in a few days.

              Not really major money. But it's kind of fun, and it's always free to me.


              Sooooooo how does this apply to the virtual events?

              An affiliate selling your event to their list can make your event a success.

              By the way, one way to guarantee an event's success, is have the affiliates with the lists (usually good Gurus in their own way) speak at the event.

              Fill a day with speakers that are each promoting the event to their own list. They get paid (usually half) of the ticket price to their own list. And they get to keep he money on the sales the make to the whole group.. You also speak at the event. Everyone makes more money and gets fresh customers.

              I've never put on one of those events, but I've been a speaker on one, several times. Your success is primarily determined by whether the affiliate lists are of high end buyers, or free newsletter subscribers. The difference in sales is astounding.
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  • Profile picture of the author hometutor
    One of my in home computer clients here in Honolulu Hawaii sets up events for a living. Her primary challenge seems to be when people think they can do it by themselves since it's "just virtual".

    Rick
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  • Profile picture of the author WF- Enzo
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    It depends

    Originally Posted by MarkBlackburn View Post

    Seeing as the virtual event (conference, exhibition) is here to stay, what should we be paying to attend or sponsor these things?
    It seems to me that the cost of sponsoring a virtual event is exactly the same, if not more than it's 3D predecessor.
    Are current pricings here to stay or is this offsetting initial development or technology costs, ahead of prices then subsequently coming down?
    Welcome your thoughts, especially if you're in the events business!
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