Ever wonder if you should charge for your webinars? If so, how much can you charge and how much are attendees willing to pay? This is all valuable knowledge that can help you, the presenter, to charge the right price and maximize revenue.
The truth of the matter is there are hundreds of webinars uploaded to the web everyday, with the majority of them offered for free. Thus, if you want to charge for your webinar, it is important to understand 3 key factors
What topic and/or guest speaker viewers consider valuable
How to package that value
How much is that value worth to viewers
Fee-based webinars typically range from $20 to $150 with length approximately 60 or 90 minutes. What price should you charge for your webinar?
Responses gathered from webinar consumers reveal important factors when deciding on buying a webinar:
How can I benefit from the webinar?
Reputable/Famous guest speaker(s)
How relevant and timely is the information to me?
Is the benefit worth the price?
Obviously, viewers preferred free webinars over paid ones and have openly expressed their aversion regarding having to pay to attend web conferences or webinars. However, attendees will pay as long as the perceived benefits outweigh the price. Thus, it is not surprising that price is number four on the deciding factor list. In an article Bob Bly, an expert copywriter, stated, “Topic doesn’t seem to be critical, as two different promoters charge widely different pricing ($29 vs. $149) for the same topic.”
From this, one can deduce that as long as the perceived value of the webinar is high, consumers will pay the price. In this case, it might be the reputable guest speaker that is the deciding factor. When asked the pertinent question, a consumer expressed his view about paying for webinars, “I am willing to pay based on 1. Who’s giving the presentation, 2. What it is about, and 3) Can it make me more money. Hit all three and I am willing to pay more. I would, of course, love free webinars.”
So there you go, answers right from the horse’s mouth. Make sure to look for the integrated payment system features such as PayPal when purchasing your web conferencing service so you can charge for your webinars – not every web conferencing and webinar services offer this feature. Finally, remember to package your webinar well to amplify its perceived value – market the heck out of your webinars using your web conferencing social media tools!