Starting a podcast is an excellent way to approach people, build your brand, provide valuable advice and eventually earn money. You start alone and work your way up; you develop your own voice and you land a couple of prominent interviews. However, these interviews won’t translate into a cash flow, regardless of how extensive your email list is. This is where virtual summits kick in.
Why Virtual Summits:
In case you haven’t heard of virtual summits, let’s define them: these typically represent video interviews of 20 or more experts, all talking on one specific topic. Virtual summits are usually free the first 24 to 72 hours, and after that period subscribers get an option to purchase an “all-access pass” for unlimited viewing.
Converting visitors into paying subscribers is largely dependent on the big names you gather for your virtual summit, and the only way you can get them to join is by developing strong relationships. For example, if you have to send a cold email, give them a genuine compliment in the first line. Do your research on the influencers you’re trying to reach – read a couple of their blog posts or their books and tell them their advice helped you achieve great results. Alternatively, if their advice hasn’t helped you at all, well, then ask yourself “Do I really want this podcaster in my virtual summit?”
Don’t Outline too Many Terms:
If you are a stickler about your terms, this is going to turn your potential peers off. For example, it is okay to hope that your peer speakers will share information about the summit with their social media followers or, even better, email influential people from their own list.
However, you shouldn’t mandate this – if a potential speaker sees this in your list of summit terms, they are likely to be turned off, all the more if they don’t really know who you are. An even worse idea would be to un-invite your peers, due to the size of their list! Always be level-headed about your contact with other speakers – don’t expect too much and you’ll get more than you ever dreamed of – people appreciate working with someone who is humble.
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Make Your Podcast Easily Shareable:
The speakers involved are expected to tell their audiences about the summit you’re all involved in, but this isn’t enough. The more your summit is shared, the more conversions you’ll get; also, the easier it is for you to share it, the better popularity it will earn. This means focusing on creating a great affiliate page, a swipe page, graphics, images – stuff that will make it easily promotable. An unprofessional/unattractive design is one of the biggest virtual summit mistakes people make.
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The Summit is Supposed to Pay off for All Participants:
Sure, certain big-time speakers might join your virtual summit either because you know them personally, or because you gave them a good compliment via email. However, one of the best ways to ensure a clean slate is to make it a win-win situation for all parties involved. The outline that speakers are bound to see their own email lists growing if they participate in the summit you are organizing. The best virtual summits are the ones everybody benefits from.
Virtual summits can become your ultimate conversion weapon if you dedicate all your podcasting and entrepreneurship skills towards this way of getting paying subscribers. Connecting with leaders in your field of podcasting, growing your email list and making the collaboration with your peers a win-win situation for all parties involved is the name of the game when it comes to turning profit.