Grow Your List, Establish Authority and Make More Money
Virtual summits are a great way to grow your email list and can be a valuable tool to help you sell your digital products. If you’re looking to establish your brand through virtual summits you’ve come to the right place.
In this episode, Krista Miller CEO of Summit In A Box will discuss the ins and outs of running a successful summit. Krista will share her past experiences with virtual summits and tips on what you can do to get ahead.
Episode 037: Grow Your List, Establish Authority and Make More Money
About Krista Miller
At Summit In A Box, Krista helps entrepreneurs 3x their monthly revenue through virtual summits without wondering where to start or what to do next. Her method is focused on strong connections, collaboration, and making a difference in the lives of everyone involved. The best part? She makes it easy! With every strategy, copy template, website template, script, tech tutorial, and resources you’d ever need, your summit prep just got a whole lot easier!
What are some reasons someone should consider hosting a virtual summit?
If you want to expand your email list, hosting a virtual summit could increase the number of people you have on your list. The potential of growing your email list comes with the potential of increasing your profit.
To grow your virtual summit, you’ll need guest speakers, and building a connection with your speakers are important. Building relationships and successful summits can lead to partnerships.
Is it possible to host a successful summit with a small audience?
A long email list or a huge following isn’t required to host a successful summit. Krista has had many of her students start out with no audience at all and at the end of the summit walked away with 500 people on their email list.
Remember that every time you have a guest speaker appear on your summit their audience follows them. Encourage your guest speaker to promote your product never make it a requirement.
How are we making money with a summit?
The summit should be used to create a digital product for the audience you’re targeting. Create an all-access pass that you can sell to your audience for example, if your audience were to sign up for your site or product create a time limit of about 12hrs-24hrs. Once it expires they’ll have the option to buy the all-access pass.
Another way to profit off of virtual summits is through speaker bonuses ask the guest speaker to contribute something to your all-access pass. This will benefit the speaker as well because they’ll get the emails of everyone who buys the product. Having a bigger offer can increase your conversion rate and allow you to charge more. You can also profit from brands that want to be a sponsor
What kind of time and financial investment can someone expect to put into hosting a virtual summit?
Hosting a virtual summit doesn’t require a lot of money especially if you have a planned budget. You don’t have to pay someone to create a new website for your summit use your current website and email marketing software. There are free platforms where you can use to host your summit like YouTube, Vimeo, and etc.
The time invested into your first summit may be 100hrs if you do not have the necessary resources. If you have the resources needed it will take you 40hrs to complete the summit. Use a minimum of 90 days to plan your summit brainstorming on who you would want to speak, connecting with the speaker, pitch to them and waiting a week or two to hear back, give them time to prepare power points, several weeks of promotion.
What are the key elements of a profitable virtual summit?
Focus on the audience and topics to figure out what kind of audience your product is targeting. Create subsets of topics that have the most positive feedback to create that momentum. Use social media to find your speakers, for example, you could use Instagram, your audience, or reach out to people you know for recommendations.
You can connect with Krista Miller on Instagram @summitinabox
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