August 13, 2020

by  DR. MARK T. WADE

#172: Why You Should Run A Paid Summit.

Description  

 

 Summits have to be free right? What other option is there? Let’s talk about when and why to do a premium summit!

About Dr. Mark T. Wade

 

Dr. Mark T Wade went from brick & mortar to multi-million dollar online business using a strategy called the One-Day Summit.  Having created 6, 7 & Multi 7-figure businesses in the Brick & Mortar, Online (Education) Business, & Software As A Service space (Virtual Summits Software), Dr. Mark now helps entrepreneurs scale their online businesses with proven strategies such as the One-Day Summit Formula.

Reach Out To Dr. Mark T. Wade

Top Reasons Why You Should Do A Premium Summit

     ✔️     You already have an audience

  • You already have an audience that already looks at you as the expert

  • Already has know, like, and trust

  • You're looking for ways to monetize that audience, a way to provide value and then have them reciprocate with money or payment

     ✔️      You prefer soft selling over urgency/scarcity selling

  • You're wanting to sell something, but you don't like hard sells

  • Hardcore sales is hard for you and you're just getting started then using a virtual summit is a great way to do a soft sell

     ✔️     You don’t want to create a course – want to crowdsource a product

  • You don't want to build a course because then you have to hard sell it 

  • Combined with soft selling, you want to leverage the expertise of others, so work smarter not harder, to have something to sell

  • If you don't want to build a course, you have something that you think needs to be solved, but you want to crowdsource the wisdom of speakers to do it and then sell it

     ✔️     Your content is extremely good – or was originally paid access content

  • Information whether it's you delivering it or sessions you've done with high quality speakers, and you just don't want to release it for free

  • If you have some content that's really good, a mastermind, coaching sessions, things that people shouldn't just get free access to, paid materials or content,

  • It's also a really great way to repackage old content, high value content, previously used content to get more out of it, to repurpose it in a premium way

     ✔️     You are wanting to qualify a higher paid offer 

  • If you're about to pitch your $25,000 mastermind, or you have a 15,000 done for you service or a $5,000 workshop, all of which could be offered on the back end of a free summit

  • If you have a high ticket offer, you really are selling that to somebody who has know, like and trust, but also a qualified buyer

  • If you want to qualify a buyer

     ✔️     You are hosting a live streaming conference

  • You do an interview or a presentation in advance, you record it and you release it over a set period of time. However, if you're going to release these as a live streaming summit or a live streaming conference, that definitely is open and more valid to have a paid access to this or a premium version

  • There's a lot of engagement that happens

  • You can put paid access on the front of it

  • You have people that show up and they're engaged

  • With a live stream conference, because it's happening in real time, maybe there's some Q and A that happens on each session, the speakers they're engaging, this is a higher value event so you can put a price tag on the front end of that

     ✔️     You want to increase your show up rates and engagement on your summit. 

  • If we want them to actually show up and engage with the speakers, with the content, with the summit, having them pay to get access to it will ensure a higher percentage of people actually show up on your sessions

Reasons Why You Shouldn't Do A Premium Summit

     👉     You have no audience

     👉     If you are trying to build an audience

  • If your goal is to build an audience, then putting a price tag on the front of it is not going to allow as much people to come into your audience

     👉     If you are trying to create a relationship, create know, like, and trust with this audience for any reason, then the best way to do that is provide value upfront, charged for it after

 

Dr. Mark T Wade went from brick & mortar to multi-million dollar online business using a strategy called the "One-Day Summit".
Having created 6, 7 & Multi 7-figure businesses in the Brick & Mortar, Online (Education) Business, & Software As A Service space (Virtual Summits Software), Dr. Mark now helps entrepreneurs scale their online businesses with proven strategies such as the One-Day Summit Formula. 

 

LINKS MENTIONED IN THIS EPISODE

   🔗   One-Day Summit Training

   🔗   Virtual Summits Software Free Trial

   🔗   One-Day Summit Starter Guide 

   🔗   Interview Like A Pro

   🔗   Summit Fest Live 2021

   🔗   Summit Genesis Workshop

   🔗   Summit Talks

 

   

 

   

       

 

OTHER WAYS TO ENJOY THIS POST: