“Just Because Something’s Profitable Doesn’t Mean It Can’t Be Made MORE Profitable…”
Ever since I predicted the downfall of evergreen webinars as a front-end offer…
…a lot of people with big followings have been speaking up, bashing all the “idiots” who think webinars are dead.
A couple things to note:
#1 – Almost literally everyone I’ve seen stick up for evergreen webinars as a front-end offer has YEARS of experience and is working with clients with DEEP pockets
Meaning, the results THEY get are infinitely better than what the AVERAGE business owner is going to achieve.
#2 – Many of the experts that USED to teach webinars as front-end offers have already bailed on them (in some cases as much as two years ago)
#3 – I literally haven’t seen one single person say webinars are “dead” (myself included)
The only thing anyone has said is that:
- Lead costs are upwards of $10, making them one of – if not THE – most expensive ways to acquire a lead via FB ads
- Aren’t nearly as profitable as they used to in 2014 / 2015 (which is an indisputable fact given rising ad costs)
- Have an *accepted* industry standard conversion rate of 0.2% (once again, this is fact, not opinion)
- Result in a Cost per Call double, triple, or quadruple what they *used* to cost
No one said they’re dead. No one said they don’t work.
In fact, webinars still make for incredible conversion mechanisms in the middle/bottom of a funnel.
The issue here isn’t whether something “works” or not.
*With “works” being defined as profitable.
Just because you can get a tactic – which is all these evergreen webinars are – a tactic…
…profitable on the front-end doesn’t automatically mean its the MOST profitable funnel you *could* be running.
In fact, if you’re running this kind of funnel, and it’s ‘working’…
…you could probably 3-5x how profitable it becomes by building a REAL funnel.
People seem to forget what the purpose of a “funnel” is:
Nurture cold leads into hot prospects, just like sales and marketing departments did BEFORE the internet.
Except with an evergreen webinar, there is no nurturing.
“Get on my webinar and get on the phone with me now, or GTFO of my life.”
At best, the people running these have a templated, 5-part email sequence they send out after someone signs up for their training (that – at best – drives one extra call per month).
My entire point with bashing evergreen webinars on the front-end is that it’s a) an outdated tactic, and b) an extremely high hurdle to ask a total stranger to commit to.
Because of that, lead costs have become increasingly high.
Why is that?
First, marketing your business this way means you are constantly chasing the hottest 3% of the market
And since people are lazy, and don’t want to build tribes / nurture audiences, that’s where all the competition is.
Because that’s where all the competition is, costs are sky high and conversion are low.
The reason conversions are lowest here is endless:
- There’s no loyalty
- Skepticism is sky high
- People are price shopping
- There’s no “Know, Like, or Trust” response built up
The list goes on and on.
So yeah, no one ever said webinars are “dead”
But just because something “works” doesn’t mean it’s anywhere NEAR its full profit potential 😉