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Live online broadcast and Webinars are powerful tools in the sales process for many companies. They have high perceived value and help in generating leads, build relationships with customers, and share knowledge about an area of expertise. Webinars help in creating new sources for making money for businesses. The more trusted and well known you are in the industry, the higher is the value of the webinar. An important point to highlight is the value that the prospective audience stands to gain through the content that will be shared in the most efficient way. A well-promoted webinar will deliver the value to the audience, offer them a relevant product or service, and entice them to purchase it.

Three kinds of webinars directly help in making money.

• Paid webinars- The most direct way to make money through webinars is to charge for it. It is known that people are willing to pay for webinars that are based on specific topics from experts in that particular field.
• Product demo webinars- Unlike paid webinars these are free for the attendees. Products are offered for sale at the end of the demonstration which helps in making money. The key is to always bring value to the webinar and focus on the benefits of the product.
• Promoting Online courses through webinars- If you are in the business of offering online courses, webinars can help reach a new audience and monetize your knowledge. During the webinar address the issues that the audience may have and clear their doubts. Answer all the queries and include case studies and testimonials of the past and current customers to instil confidence in the attendees to invest in the course being offered.

Having shared the different kinds of webinar that directly help in making money, let us look at the steps that are required to make a webinar a success and help make money.

1. Know your audience– Before starting the process of making a webinar, the most important step is to target the right people for it to be a successful webinar. Understanding the pain points of the target audience and providing them with what they are looking for is what will help in making money. Making sure the right content is put across to the right audience at the right time is the true essence of delivering a profitable webinar.
2. Get Personal– It is very important to connect with your audience in a way that they feel that you are speaking to them directly before they commit to investing in your product or service. Help them to get to know you and make efforts to know about your audience to connect with them before and during the webinar.
3. Deliver as promised– When people sign up for the webinar, they want to receive what was promised to them. Focus on what was promised for the webinar to generate leads and convert the audience into loyal customers.
4. Craft an irresistible offer– Half the battle is won by getting an audience for your webinar. It clearly shows their interest level in what you have to offer.  Put yourself in the shoes of your audience and craft an offer they cannot resist. Give them what they want and try and personalize your offering as much as possible explaining to them the benefits of it.
5. Create a sense of urgency– To make money through the webinar and ensure it is successful, create a sense of urgency as it yields at least 14 per cent higher click to open rates, and double the average transaction rate. Include an offer or an incentive to make the audience feel special. Having a Q&A session to answer any queries the audience may have is another step to make the webinar a success.
6. Be Punctual– Being on time is crucial for many people. Prepare well for your webinar to stay on time. Follow the schedule shared with the audience and keep enough time to answer any queries that they may have. Not sticking to the schedule leads to losing potential customers even before the start of the webinar.
7. Be clear about the pricing of the offer– The key to getting the maximum sales from the webinar is to be clear about the pricing of the offering. Keep it simple so it is easily understood by the audience. Have time slotted to explain to your audience on how the pricing works. This will allow you to clarify any doubts that the audience may have and convince them to buy the product or service.
8. Choose the right platform– Hosting a webinar using the right software is very important to cater to business needs. Create a landing page or integrate the event with a payment gateway which will aid the sale of products or services and will enable you to focus on the webinar.
9. Promote the event efficiently– To monetize your webinar, it needs to be promoted efficiently. Use of social media channels, email marketing, or paid advertising is some of the effective ways to reach the target audience.
10. Paint a picture of success – Create a vision of success, something that your audience can relate to. These could be testimonials, success stories shared by past and current customers. Emphasize how the product can help solve their problem.

For webinars to be successful, the attention should be on the needs of the audience and the content should be created that cater to those needs. Webinars are a brilliant way to monetize your knowledge and boost profits for your business. Use of social media and running ad campaigns can further help in creating awareness and lead to higher attendance thus getting a chance to convert the audience into paying customers. The simple steps discussed above can help in creating profitable webinars in a short period.