Today I want to share with you a quick tip to help you make money from people who DON’T attend your events.
Let’s face it, however great your marketing is, the majority of people who see your sales literature for your event WON’T book.
I’ve helped people achieve conversion rates as high as 27% – and as stunning a result as that is, it still means that 63% DIDN’T attend.
And that’s a lot of waste.
So how can you convert some of those non-attendees into paying customers, and make more money from your marketing efforts?
One option is to offer the material you cover at your seminar, training course or workshop in a different format.
There will always be people who because of time, geographic or financial limitations can’t make it to your event – however badly they want to be there.
So for those people, you could record your event, and offer audio recordings of the material at a lower price point for people who can’t attend.
The first time I did this, I made an extra £7,000 profit just from the audio sales. That’s £7,000 I would have missed out on if I hadn’t had the audio to offer.
Making an audio recording DOESN’T have to be expensive either. I started out with an Olympus digital recorder which gave me great results and only cost $99.
Another advantage of offering an alternative like this is that you can offer your material at a different price point WITHOUT questioning the value of your registration fee.
For example, some people may not be able to attend because your registration fee is beyond their budget. A good rule of thumb is to offer audios of your event to non-attendees for 35-45% of the registration fee. eg If your event costs £295, then a good price point for the audio would be £127.
You can do this without damaging your credibility because obviously the people who attend are getting extra value such as networking and live interaction that the audios don’t provide.
Some people worry that offering a lower-priced alternative will hurt registrations. But that simply ISN’T the case. People have different learning styles and preferences, and there is a percentage of people who will always want the ‘live’ event, and are willing to pay for it.
You will also find that some people who buy the audios will go on to either attend your live event at a later date or approach you for help with implementing the material you cover.
So the net result is that your overall sales and profits will go UP when you offer a lower priced alternative for non-attendees.
Try it and see for yourself!
Want to know more? Then make sure YOU reserve a front row seat at the Event Money Machine later this month. Tickets to this event are FREE – so join our priority notification list to be the first to know when they become available.