July 24, 2019
by DR. MARK T. WADE
#036: How To Create A High Converting Summit Offer
Description:
Howard takes us through a futuristic look at a Second Life approach to virtual summits, & how a Telepresence robot feels from an attendees perspective. Plus the important of visuals & imagery when crafting your summit presentations.
CREATE YOUR OFFER
Getting Started With An End In Mind
➡️ Creating your Virtual Summit offer is not nearly as complex
➡️ It’s pretty straight forward, and the most important aspect of your offer, isn’t even really your offer.
➡️ The most important aspect of your offer is the quality of your summit.
Next Important Aspect
➡️ It’s the creativity that matters most.
➡️ You want to break the norm, think outside the box.
➡️ Provide something that has a little thought and energy behind it.
➡️ More is not better. Trying to shove in 20 bonuses to make the offer seem like it has more substance will only give you the opposite outcome. It will overwhelm your leads.
What Is A Summit Offer Exactly?
➡️ Your summit is free for attendees to register and then participate during the set dates of your summit.
➡️ Attendees can unlock the “On Demand” version of the sessions (i.e. recordings) by simply purchasing the “all access pass”
➡️ Your summit offer is essentially the ability to access the on demand recordings of the summit plus any additional items you decide to include in the offer.
How Many Offers/Levels Should I Have?
➡️ Most summits will have a few levels or offers to allow the attendees to decide between.
➡️ All the levels will include the On Demand access to the recordings of the summit since this is the actual item that your attendees want.
➡️ We want to provide a variety of options.
➡️ The most common answer is three offers.
The Decoy Effect
➡️ The decoy effect is when we include 3 offers.
➡️ One offer is a lower price point, then the two other offers will be the exact same price, but the third offer has an additional bonus.
What Should I Call My Offer
➡️ This is more of a personal decision or desire.
➡️ This can also be as creative as you’d like it to be but don't make it confusing.
➡️ Examples: a) VIP, PRO, ELITE; b) All Access Pass, VIP All Access Pass; c) Platinum, Gold, Silver; d) Level 1, Level 2, and Level 3.
Offer - 4 Parts
➡️ On-demand access - included in each level, but essentially gives them on going access to the summit recordings
➡️ Bonuses - adds that little extra to give value (audio downloads, transcripts, PDFs, etc.)
➡️ Special Sauce - typically not necessarily super creative, it’s just something with real & high value (access to one of your signature courses or programs).
➡️ Outside The Box - something that you wouldn’t normally expect making your offer appealing.
Price Points
The most common price points I see are the following:
➡️ $39 & $79
➡️ $49 & $89
➡️ $65 & $119
Upsell
➡️ Simply an additional offer that is presented to the attendee after they purchase the upgrade.
➡️ It’s an opportunity to offer them something complimentary that is of value for an additional fee.
➡️ This increases your overall customer value
Special Add-Ons
A few items that we recommend including to increase conversions are:
➡️ Testimonies,
➡️ Guarantees,
➡️ Social Proof &
➡️ Social Conformity.
5 Types of Sales Sequences
➡️ Early Bird
➡️ Summit Ending
➡️ Last Chance
➡️ Diminishing Bonuses
➡️ Incremental Price Increase
MY REQUEST
I’m going to give away all the best insights and knowledge but just need YOUR help!
- First - subscribe & leave a 5 star review on this podcast
- Second - share this podcast with anyone you know who has done, or wants to do a summit
That’s all I ask...
HOW TO GET IN TOUCH
👉 I am always looking for feedback
👉 If you have questions send them to me. (I’ll start doing a special Q&A monthly episode)
👉 If you want to be a guest reach out and let me know
👉 If you know someone I should interview please put me in touch with them.
Email me at: Podcast@VirtualSummits.com
Resources you can get in the show notes at http://virtualsummits.software/resource
✔️ One Day Summit Guide
✔️ Virtual Summits Framework
✔️ Plug & Play
✔️ Free Trial Virtual Summit Software
I want to end this episode by saying,
"I believe in YOU & YOU can do this."
Summits are by far one of the most powerful ways to quickly grow your list, launch your platform & make more money! (Even if you are just getting started).
Don’t get caught up in Analysis paralysis, because the world needs to hear your message & there are people who are waiting for you to help them.
So just get started. Imperfect action is always better than doing nothing!
Thank you and see you on the next episode!
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.
Table of Contents
📄 The One-Page Summit Plan
📄 The Linked In Success Summit
📄 Technology Preferred
📄 Overcoming The It's Too Hard, It's Too Difficult Concern
📄 Timing Of Your Summit
📄 Re-running Your Summit Or Starting New
📄 Words Of Wisdom
LINKS MENTIONED IN THIS EPISODE
🔗 Virtual Summits Software Free Trial
🔗 One-Day Summit Starter Guide
OTHER WAYS TO ENJOY THIS POST:
