December 31, 2020

by  DR. MARK T. WADE

#195: Are Summits Doomed Or Going To Boom 2021?

Description  

 

Summits are going to boom In 2021, but yours might not if you don’t heed these warnings, and make these changes that we will discuss today. 

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

Summits Will Boom

     ✔️     But not for everyone

     ✔️     But you need to increase your thought, effort, and thought process

     ✔️     You need to evolve and improve

 

What To Do For It To Boom

     ➡️     Think how will you stand out

     ➡️     Cooler Names (Peds Week, Summit Talks) 

     ➡️     Niche down & expect less & do more of them

     ➡️     Don’t get shiny object with live stream conference

 

Terminologies

     👉     Virtual Summit

  • Is a series of prerecorded or primarily prerecorded interviews or presentations that solves a problem or series of problems for a specific audience by bringing in topic and niche experts to share insights on those problems with solutions over a set period of time

  • It is typically free to participate

  • Primary objective is building an audience, building know, like. and trust with an audience that you will then take further in along your customer journey

  • Allows people to watch at their own time and effort

     👉     Live Stream Conference

  • It is typically a celebration of your community

  • This is already a community that exists

  • It is paid access

  • It is 100% live stream, no pre-recorded

  • Primary goal of selling a higher ticket item on that conference

  • Costly, time consuming, difficult, and high risk

  • Creates a lot of engagement in real time in order to sell higher ticket object

  • Show up rates are relatively small

     👉     What you use each for 

  • Most people can not do a LSC on their own.  It’s too costly & too difficult

  • Start & stick with VS, until your business & brand are established

Establish Your Summit Space

     ✔️     Think of your summit like an actual event – it builds each year

     ✔️     Do the same/similar each year/quarterly

     ✔️     Build momentum

     ✔️     Already have speakers, and audience

     ✔️     You know what worked and what didn’t

 

How To Evolve Your Summits

     ➡️     Add Live Stream

     ➡️     Think about what the audience wants  

  • Summaries

  • Faster & Easier ways to learn

  • Fast Tracks (Summit Talks)

     ➡️     Incorporate a theme

     ➡️     Bring on “Special Sessions or Events”

     ➡️     Improve Your Interview Skills

     ➡️     Increase Your Production Value

 

On Working Harder For Your Summit

     👉     You have to work harder for the same or less attendees

  • Still better than other options

  • Engaged & qualified 

  • Always new people looking to learn that topic

  • Perfect your Post Summit Profit Strategy

  • Not doing a summit to same people

  • Doing it to new people through a process proven to work 

     👉     This is why same summit each year (quarter) is ok

  • Perfect what you already have

Monetization

     ✔️     Requires a GREAT offer, and several of them

  • You have to have a great summit offer

    • Order Bumps

    • Up Sells

    • Post Summit Offers

Innovating Your Summit

     ➡️     Rethink

  • Encore Weekend

    • Stifle engagement & excitement

    • Put the PSO first then the encore

  • Promotion Strategies

    • Can’t just rely on your speakers

    • Use an Omni-Present Strategy (multiple platform Eventbrite, LinkedIn) 

    • Plan to use retargeting ads

    • Sponsored Emails

  • Rethink Opt In Strategies

  • How do you collect the attendees

  • Can we collect them without them opting in

  • Engagement Strategies

    • How to get people involved. 

    • Also give people options to go right into the big sale if desired

  • Communication Strategies

    • Email Deliverability is declining dramatically

    • Need more and different ways to communicate

    • Slack, Messenger, WhatsApp, groups, etc

  • How else can we communicate? 

  • Speakers

    • Who do you get?

    • How do you get them?

    • What do you require of them

    • Think about the long term – start building relationships

    • What other collabs can happen from the summit

    • Think about how you can give to your speakers

    • Consider Paying For Leads

      • For certain speakers

    • Pay speakers upfront

Incorporating Swag

     👉     VirtualSwagBag.com (Physical Swag For Your Virtual Events)

     👉     Stand out & create a physical experience during your virtual event.

     👉     Stay on their mind longer

     👉     It’s time to up your summit game and VSB makes it simple and easy

 

Improving Sponsor Involvement

     ✔️     Make it about them not you

     ✔️     Keep it open

     ✔️     Find out what they want

     ✔️     Think about whether it's paid or free and really incorporate that into it

     ✔️     Think about win wins – and who has databases and audiences. 

 

Different Formats

     ➡️     One –Day Summit

     ➡️     Summit Series

     ➡️     Live Components

     ➡️     TV Show Style

     ➡️     Multiple Hosts

     ➡️     Masterclass series

 

Check Out the BRAND NEW VSS Releasing Soon!

     ❇️     Completely rebuilt from the ground up. 

     ❇️     Quicker, Easier and More Powerful.

     ❇️     Check out our new Summit Themes, build from scratch, or share.

     ❇️     Recruit speakers inside the VSS to speak on your summit

     ❇️     Monetize your summit like you never have before

 

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

 

   

 

   

       

 

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