Increase Webinar Show-Up Rates by 20%
360° Webinar Recall Hack – Discover How we Increased our Webinar Show-Up Rates by 20% and Made an Extra $5,748.48
Here at INFINITUS we host a LOT of webinars, in 2016 we’re expecting to do roughly 140 live webinars in 2016 and will have nearly 25 evergreen webinars running by the end of the year.
What does it mean? We discover a LOT by being able to test and use data as our best friend.
And today, I want to let you in on a really interesting hack that we’ve been using to increase our show-up rates by over 25%.
The show-up rate for a live webinar is typically 20-30%. Obviously there is a lot that goes into a really great webinar to create high-show up rate and it’s a KPI that I obsess over.
Why? Well, let’s quickly think about that.
If I pay $3.00 for each person to sign-up for my webinar ($12-15 is the industry average) and only 1 to 5 people show-up, that means it costs me $15.00 to get someone to actually show up.
To bring that number forward, if my conversion rate is 10% (the industry average is 3-5%) of those that sign-up, then it means that it costs me $150.00 to make a sale.
That means, if I can increase my show-up rate, it will have a direct effect on our bottom-line.
On average our webinars have a 42.5% show-up rate. Thus, we are almost double of the industry average.
Now, we have an amazing indoctrination, give a lot of value by email beforehand and we pre-qualify those on our webinars extremely well, but this 10-minute hack increased our show-up rate above 55%. And that’s a LOT more profit for us!
I want to show it to you, so you can use it. It costs almost nothing and takes less than a few minutes to implement.
I call this the “360° Webinar Recall Method” and it works so incredibly intelligently that I feel bad sharing.
You’re just going to say, “Why didn’t I think of that?”
The entire method is based on the fact that people don’t show-up to webinars for one of two reasons:
a). The timing doesn’t work or,
b). It’s not relevant to them anymore.
Think about it.
You spend less than a few seconds convincing them about your webinar. It MIGHT get on their calendar, even if you send them a few emails that they likely don’t open.
You have their permission to market to them, so we want to make it SUPER relevant.
And because we need their attention time and time again we need to make it more than relevant. We need to add frequency to the relevancy.
Now, if we send them 30 emails, they’ll unsubscribe.
But what if they saw it in their newsfeed and across the web over and over again while they were just browsing, leading up to the webinar?
That’s where our method comes in. Using the power of retargeting, we can target those that are signed up for our webinar and remind them what they signed up for, or even go beyond and give them additional value, making us not only aware of what they signed up for, but also making us more and more relevant.
Once someone signs up for our webinar, they are tagged using our Facebook Pixel. We then have a set of Facebook ads that are specific for that live webinar. Now it’s important to realize that this audience is VERY small and thus the setup of your Facebook ads are VERY important.
Over the next few days, they get a series of ads that appear like this:
Now, it’s important to realize that I’ve used this images beforehand on the Thank-You pages of the Webinar, so there is an element of recall.
There are also some key elements that are important for implementing this into your own webinar strategy:
Tip #1: You need to ensure that you have a hard stop on the advertising so that the person doesn’t see the advertisement after the actual webinar.
Tip #2: You need to ensure there is no call to action on the advertisement – this is critical, if it has a call to action, people will click and if they click, this will cost you a LOT of money. You want it to feel like a reminder, not an actual advertisement.
Tip #3: You need to setup the advertisement to be based on CLICKS not IMPRESSIONS. Remember, people don’t click this and if you pay per impression, with the small audience you will be paying a lot.
Tip #4: Max out the budget. I’m talking using a daily budget of $100. We want to ‘fool’ Facebook into utilizing the budget and putting this in front of your audience.
Now, what were the results the first time we ran this advertisement?
Here are our key statistics:
Webinar Show-Up Rate Average: 42.5%
Webinar Show-Up Rate with Advertisement: 53.5%
Total Webinar Registers: 294
Frequency (Number of Times Someone Saw The Ad): 43.2
Total Cost: $2.04 (1 click)
Difference of Show-Ups: 32 People
Difference in Sales ($1,497 Sale at 12% Conversion Rate):
Total Revenue: $28,255.57
Difference in Revenue: $5,748.48
That’s not a bad R.O.I is it? And it took me less than 15 minutes to set up.