Why Your Webinar Isn't Converting

0:00I sell a school community to real estate agents. We're doing about 85,000 and monthly revenue. I want to get to 300,000. What's stopping me is we put so much effort into webinars and in-person events that aren't converting the way we like them to convert. Our in-person events specifically, we have not found the right sales strategy to capture people while they're in person to actually Yeah, to actually you know, flip out their phones, scan a QR code, and pay right there, basically.

0:33>> Take out their phones, scan a QR code, and pay right there. >> Yeah, so >> might be part of it. >> Yeah, that probably is part of it. So, we're learning So, our our webinars are >> Have you been to one of our events? >> Just this one. >> Dude, come. >> Yeah, I will. So, >> Get your $5,000 worth real fast. >> I know, I'm sure. >> watch how we do it. >> So, our our webinars are by far our best converting events. Um we do about you know, 40 or 50 school sales on the webinar. Say we have five or 600 people.

1:02>> And you do And you only promote it organically. You don't do ads? >> Yes. Yeah, it's all on Instagram, through our emails and everything. So, um we we put 45 minutes. We front-load the value, and then the last 10 minutes is a school pitch. We actually show it to them. Our in-person event, we just actually >> do you convert on the webinar? >> Probably about 5%. >> Hmm. That's low, but okay. >> I feel like it we're hitting the same audience over and over again, also.

1:27They've kind of seen this before. So, our at our in-person events at the end, we tried to have a big offer where it was like you get access or you get your book, you get free access, you get a mastermind with myself and you. >> thought it would. >> Yeah, it's John What are we talking about? Yeah. >> I And I think the problem I was talking to my my friend over here, who I just met, and you you said this in an earlier question was maybe the audience that's live doesn't understand the story of us that much or that they didn't have the context.

1:55>> The event was 8 hours. >> ask a couple rapid-fire, >> so one-day event? >> Yeah, one day. >> Okay, you pitched at the end of the day? >> We pitched right before a break, which might have been stupid because everybody's kind of getting up and then we pitched right at the end. And I think we got 10 sign-ups. >> not a big deal cuz you need to have the time to close them so that's not bad. But um so you're doing a one-day event and pitching basically right before lunch? >> Right before lunch and then right at the end. >> I think I would see if you could make Can you do a two-day?

2:26>> Yeah. >> It'll make a big difference. Cuz imagine you show up and then you have two presentations and like but are I guess they are all warm audience. >> Some of I mean some of these came from a title company so not everybody understood our story but we have so much value in speakers that I didn't want to go up there for 30 minutes and explain the brand story. >> me give you a couple couple big things for everybody. So this room is disproportionately marketers because the nature of getting here was that you're able to market stuff.

2:54So Um surprise. Um so I'll talk a little bit more from the marketing angle. So many of you guys sell um information education media related stuff. Um where people make mistakes where they're like how much do I teach versus how much do I pitch, right? The issue is not understanding what kind of information you should teach at each stage. And so there's two types of education. There's declarative knowledge and there's procedural knowledge. This I didn't invent this. This is just education system last 100 years but people just don't talk about it. So um uh declarative knowledge is knowledge about something.

3:27This is what you use to sell. Procedural knowledge is about how to do something. This is what you sell. If you use this to try and sell stuff, people will walk away with a shitload of to-do's and they're like I'm good. >> Mhm. >> What you want to talk about is all the things about how it works, about the outcomes, about what is possible. Teach how how it works conceptually, not So if I say I'll give you an example.

3:52Hey, you have a business, you're doing $2 million a year. If you go from $2 million to $5 million, you cross over the institutional threshold. At that point, your multiple goes from three to seven. And so, you go from having something that might be worth $4 million to something might be worth $35 million just by adding another $3 million in revenue. And here's why that is, because institutional buyers blah blah blah blah blah. Me explaining that, people are like, "Whoa, that is really interesting. I didn't know how all that worked." I didn't teach how to do it. I teach about how it works. That still is incredibly valuable because the What's really nice about declarative knowledge is that everyone gets value from it because you just have to be there to get the value.

4:30When you teach tactics, you have to do the tactics to get the value, which means they can't do it with you. They have to go and then do it, and then they would extract the value. Right? So, it's at a delay, which means they don't want to buy right now. And so, whatever you're teaching, you want to be predominantly declarative in nature. Let me teach you about this stuff that you aren't aware of. This is where breaking beliefs around specific uh I think that like this is the old model, this is the new model. I'm not teaching you here's how you set up a domain, here's how you warm it up, and so, right? Like here's how you have an AI agent, here's how you personalize the Like we're not teaching that. We're saying, "Did you know that if you go from not personalized to personalized, this is the increase?" Whoa, I'm not going to I'm going to show you that's how it works, and then I will sell you how to do it.

5:11>> Mhm. >> That's what you separate. Again, secrets, implementation. >> Yeah. >> So, that's in terms of how you're structuring the days. Obviously, you want to interweave truths throughout. That's a That's a a no-duh. Um my preference is if you do a two-day, teach the first day, sell at the end. And then second day, halfway through, >> Mhm. >> you you do a re-pitch, and then you still finish with value in the back half of the second day. And that give you two bites of the apple.

5:38>> Yeah. >> Um when you do the first half of the day on day two, you want to make sure that we sell at the point of greatest deprivation, not the point of greatest value. And so, this is one of the big mistakes that people make when they're trying to sell stuff is they actually sell at the wrong time. And so, I'll give you an [snorts] example. So, if we go to a restaurant, you order steak, you have an amazing steak, and I say, "Awesome, how was it?" You say it was great. I say, "Awesome, would you like another steak?" And you're like, "No, I'm good." And I'm like, "Why? Wasn't the steak good?" And you're like, "Yeah, it was great." And I'm like, "Then why don't you want another steak?" And you're like, "Cuz I'm I'm good." It was And I'm like, "So, you didn't like the steak?" And you're like, "No, I love the [ __ ] steak, dude. Like, back off."

6:12Right? And so, and that's because like the offer's right, the timing's wrong. And so, if I wanted to sell two steaks, what I would do is say, "Hey, sir, how's it going?" You say, "Great." And I'm like, "Yeah, how hungry are you?" You're like, "Dude, I'm [ __ ] starving." And I'm like, "A guy like you, you're going to need two steaks." That's when you sell two steaks. >> Yeah. >> Before you've had your first bite, before you're full. When you're at point of greatest deprivation. Where people get confused is they're like, "Hey, people got a lot of value. That's when I want to sell."

6:38The point of greatest deprivation and the point of greatest value only sometimes intersect when once you've created the value, you create deprivation around the next thing. And so, the motivation for any person to take action on anything is the amount of lack they have. Deprivation, you're incredibly motivated to sleep when you're exhausted. You're incredibly motivated to eat when you're starving. You're incredibly motivated to [ __ ] when you're having it, right? And so, the idea is we want to extend That's why in a pitch, it's all about the pain. It's like, "How can we agitate the pain?

7:04How can we extend where they are to where they want to be and make this gap bigger and bigger and bigger?" For us in a monetary world, which is what you sell in, the gap isn't physiological, it's um it's perceived. And so, we have to build up the perception of deprivation. And if any of this is like sounds like too complex, just stop me. But basically, when you get around people way richer than you, you feel poor. And then when you feel poor, you get motivated to get richer.

7:30If you're the richest person in all the people that you know, you have no motivation because you're the you're the richest man in uh not Babylon, but the poor part of Babylon, the the hood of Babylon, right? >> [laughter] >> Do you know Do you know what I there? >> Yeah. >> And so, um from a pitching perspective, what percentage are you closing on your in-persons? >> Um the conversions? Yes. 62%. From free trial to Is that what you're referring to? >> No, no, no. You said you sell at an event.

7:56>> Yes. >> And what percentage of people do you close at the event? >> Okay, so at the in-person event, there were 270 people there. 10 people joined school >> Okay. That was bad. Okay, so what's the >> webinar, it's five to 10%. >> the price point uh in person? >> $97 per month, but we have a 7-day free trial. Bro. >> Okay. >> At that event, we turned off the free trial cuz I was like, "We're going to give them so much value here that 150 people are going to join." But when I say scan the QR code, I think operationally is is it weird at an event for someone to pick up their phone and then put in a credit card during a break? Is that

8:29>> I think if I had a $97 Oh, first off, I think you should be selling annuals up front. Yeah. For sure. >> Well, we we had if you get the annual, you get the mastermind and you get the book. >> Yeah, yeah, yeah. Um I would get 100% of people to do the free trial. >> Mhm. >> And just say that they have to. >> Yeah. >> And then you >> [laughter] >> Like hold them at gunpoint or something? What do you >> Yeah, kind of. You know what I mean? >> Yeah. >> So, I would say, "Okay, hey guys, so the first presentation we're going to talk about today includes um all these downloads. As soon as you do the free trial, it's the first module in there.

9:01Go get the free trial and then you'll get the first download that you need to fill out." >> I think our dumb move was >> [laughter] >> Great. 100% close rate. >> 100%. >> and then we have the rest of the day. And then the rest of my day, by the way, cuz we took their credit card out and what rolls out in school this coming week are very exciting um is that once the card's on file, they can one-click upsell for the year. >> Mhm. >> So, you'd be like, "Hey guys, um also end of the day, this is the other thing that you're going to need for all of tomorrow. Everybody here, we're doing a dinner after this. I'm going to be there. Everybody who upgrades for the year right now, come to dinner with us.

9:33It's going to be sick." And that's your ticket out of here. >> Mhm. >> And just show us that you did it, and then we'll all go to dinner, and we've got the bus outside. Cuz you want to have an immediate reward for taking action. >> Yeah. >> Right now, there isn't one. >> No. >> Speed outsells everything. Everything. And so, if you have the choice between a really big outcome that's far away, or a really small one that's right now, really small right now will outsell every time. Like on the live, I think we did like $250,000 in sales because I said we would sign a a t-shirt of mine. And five people bought it. And I was like, that's wild.

10:10Right? Anyone here? No? Okay. I mean, I appreciate it. The beer smells great. But the But the speed. >> Mhm. >> We need an immediate reinforcer for why they should do it, cuz people right on the edge, and they're going to have something they're going to miss out on. >> Yeah. >> And so, hey, if you're going to do it tomorrow either way, you might as well do it now and get the dinner and hang out, and we'll talk about Like most people are going to ROI the whole thing just from the dinner. >> Mhm. >> And if you want, you can position it as a 3-hour mastermind, and we'll have food, which should be perceived as more valuable than going to dinner with us. >> Got it. Thank you. >> Yeah. All right. Was that awful?

10:37>> YEAH. >> OKAY, GOOD. >> [laughter] [applause] >> I FEEL LIKE THAT FREE TRIAL THING WILL DESTROY FOR YOU. >> I MEAN, it it is with the webinars and like everything else. It's just that in person, we turned it off. >> On the way into the webinar, do you have a thank you page trial? >> No. >> Dude. Bro. In order to attend the webinar and get the most out of it, get a free trial for our group as the thank you page offer. >> Yeah. We have a big event on Thursday, similar to the one that you were on. So, we're going to do that thank you page

11:06>> Yeah. So, opt-in thank you page trial, and then also during the thing, hey guys, go get the trial, you can get all this stuff, you can cancel it whenever, but at least you have all the assets. >> Yeah. Thank you. >> And then the whole event is about getting them to upgrade to annual, not about getting them to buy. It's almost weird that you sold a $97 It's too cheap. To sell them It's like It's like >> 55, and then trial goes up to 97, so now it's >> I mean, dude, you could sell a $50,000 from the event.

11:34Yeah, okay. Yeah, yeah, >> [laughter] >> yes sir. Yeah, yeah, you're good, you're good, you're good. Yeah, yes sir. If you're not getting as many leads as you want in your business is demand constrained, meaning you could service more customers than you currently have, then this is for you. So, marketing is changing and I think ACQ tends to be on the bleeding edge of this stuff. We certainly spend the money to do it, but we also build custom software and we pay amazing vendors and very expensive people to figure out the system that we have right now and I want to share it with you kind of open kimono style. If you're not getting as many leads as you want, boy do I have the thing [music] for you.

12:04Click below, book call and hopefully I'll see you in Vegas.