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While making six figures on a webinar might be unusual, making a profit is not. A webinar grand slam requires many things, but the most important is choosing the right topic. Topic is the biggest “why” behind my client’s success—and it should be for you, too. Here’s how.

Producing hundreds of webinars has taught me that the topic you choose can make a big difference in the profitability of your event. Start by understanding your audience. Then choose a compelling issue that will attract paying registrants and generate serious revenue.

The “Right-Topic Test” consists of answering four questions:
•How is your audience suffering/lacking/missing out?
•What do YOU know to help them NOT suffer/lack/miss out?
•Why is your solution so special?
•So what?

What’s Next?
While making a profit from webinars starts with choosing the right topic, all intellectual property is not created equal. Your topic needs to solve a problem, and your solution should be unique, so therein lies question four, “So what?” which will help you find a topic that truly resonates with your audience.

Let’s take an example.

The aforementioned client has been providing information to CPAs and other tax professionals for 30 years. The company is well known in the industry and has been doing successful webinars for the past 10 years.

With passage of the new Tax Cuts and Jobs Act (TCJA), CPAs and tax preparers were scrambling to learn as much as possible about how the law would be enacted and interpreted so they could use it appropriately when doing their customers’ taxes. There was also a sense of urgency: It all had to happen before tax season.

Perfect topic, perfect timing. 

My client, a CPA, learned every aspect of the incredibly complex law. And then we offered a webinar on the subject—one 2-hour session on a topic that just about every CPA and tax preparer needed to know to do their jobs properly. We also offered CPE credits (education credits required by professional accounting organizations). Best of all, attendees could ask questions about issues they encountered and get on-the-spot answers from the speaker/expert.

Between registrations and the post-conference recording, we generated almost 900 orders with an average sale around $225.

Even better: We were able to offer the same webinar twice more and generate several hundred additional orders.

The professionals who paid to participate in the webinar needed the in-depth information and interpretation of the new tax law so that’s what we gave them. It was information they weren’t likely to get from the government, so they got it from a trusted expert who had years of experience. In addition, they got answers to their own questions, and earned CPE credit to boot. And it was the perfect time for the webinar because tax season was just around the corner.

Low Cost of Entry and No Upfront Costs Increase Your Profit
The low cost of entry for webinars adds to your profit potential, reducing your risk from the get-go. And don’t assume you’ll be responsible for all the costs either. Unlike most service companies, Davidson Direct often works on a percentage of net revenue basis (not including email expenses), splitting the revenue for paid webinars so you don’t have to carry the entire financial burden or pay any upfront fees. (Fees for free-to-attendee webinars are project based.)

Even at the lowest price point, you can still make money from webinars.

As you consider profit streams and sales funnels for your business, consider monetizing your webinars. It’s one profit center where an outside company can manage just about everything you need for high-quality, professional online events that position you and your company as a top expert—at virtually no cost to you.

That’s it in a nutshell. Picking the right topic gives way to a webinar that’s both relevant and highly profitable. So what are you waiting for? Let’s talk about creating a webinar grand slam for your company.

Davidson Direct creates professional webinars from intro to outro. We do it all so you can sit back, relax, and experience measurable results from your webinar marketing. We help you tell your story, increase revenues, build your brand, and carve out that coveted spot of being seen as an industry expert.