How To 4x Your Conversion On Live Webinars w/Tim Paige | #024

How To 4x Your Conversion On Live Webinars w/Tim Paige | #024

 

Two successful webinar experts from upstate New York, sharing knowledge and hosting this podcast episode. Joel’s co-host is Tim Paige — vacuum salesman turned webinar host.   Aside from generating more than ten million in revenue for his webinar clients, he’s more than quadrupled webinar conversions by making a small adjustment to his Q & A session.

 

Join Joel in one of his favorite episodes to date where they discuss strategies you can apply to your webinar to effectively 4x your conversions. Tim’s high-converting webinar hiccup story provides for some good entertainment too.

 

Episode Discussions: Building authority quickly The benefits of having a brief heroes journey The Q & A strategy that 4x’d Tim’s webinar conversions Promotions that work for cold traffic webinars “Offer anxiety” and how to eliminate it to increase sales What to do when you’re uncomfortable pitching an offer upfront The worst way to start a relationship with your audience Why revealing the offer price upfront works How to answer questions throughout the webinar without stopping every 5 minutes Deciding between 60 and 90-minute webinars and which is more effective Positioning yourself to sell other people’s products as a webinar host Using webinar scripts vs. not using webinar scripts Why short pitches can be more effective than long pitches Joel’s new offer structure that’s testing very well Converting hiccups into sales during a webinar Headset twins: Why Joel and Tim love their webinar headsets

 

Tim's Story:

-Used to be a traveling musician

-Got into sales and sold $3,000 vacuums door-to-door

-Studied online marketing and started a podcast w/ John Lee Dumas

-Was hired by Clay Collins, CEO of Leadpages, to do a webinar

-Hosted his first webinar for Clay after he got sick and ‘outconverted’ him

- Has hosted over 1,000 live webinars and generated more than 10 million dollars in revenue.

-Now owns his own business doing the same thing for other clients.

 

[8:19] Promotions that work well for cold traffic webinars: lead with the price and substantiate everything afterward vs. hiding the price up front.

 

[8:46] Tim's ‘heroes journey’ is only 5 minutes long in his webinars and tells them the entire offer upfront to avoid offer anxiety.

 

[9:40] "Offer anxiety": When webinar attendees wonder about the cost of the offer for the duration of the webinar instead of focusing on the content.

 

[14:51] If you're uncomfortable giving the offer upfront, at least give them the price upfront.

 

[16:04] When you give the price upfront, they're focusing on the content and the product itself to figure out what value they'll receive for the price. You have a longer opportunity to present the offer.

 

[16:53] How did you 4x your conversions? Tim split tested webinars to 2 large audiences.

“I answer questions throughout the whole webinar, I don't wait until the Q & A.”

Day 1 - didn't answer questions until the Q & A.

Day 2 - answered questions throughout the webinar.

On day 2, he quadrupled sales.

 

[18:41] The only time it's difficult to answer questions throughout the webinar content is if the webinar is a story from start to finish.

 

[20:01] Answer questions relevant to whatever topic is being discussed at that point in the webinar. Leave non-relevant questions to answer at the end.

 

[21:03] "I'm seeing right now on average that 95% of the people that show up at the start of the webinar will stay for 75 minutes or longer — which is insane."- TP

 

[21:16] On average, Tim's clients have 90-minute webinars but more are trending toward 60 minutes. It depends on the client, topic, and content.

 

[22:12] "What we're finding is shorter is almost always better in terms of conversions."-JE

 

[23:12] Positioning as a webinar host for other people's products. “When I'm presenting, if there's a story that's relevant to the brand or founders story, I never try to turn it into my story. I think that's disingenuous...I will not tell something that's not true.”

 

[25:36] Average price points for Tim's webinars: lowest price point is $397 and highest is $2K. 70% cold traffic, 30% retargeting.

 

[29:25] Joel uses scripts for his personal webinars. Tim doesn't write or script his presentations. His slide decks are typically 140 slides and contain pictures or phrases that trigger his points.

 

[33:32] "I always tell my clients, 'You cannot insult your customer's intelligence, especially if this is a cold traffic webinar because most people aren't going to buy on the webinar. They’ll come back and buy later. Do not ruin that relationship"-JE

 

[33:57] When you go into your pitch, how does it differ from a normal-style offer creation? "I use the ending pitch as an opportunity to expand." If it's not a well-known product, he'll reference it as a solution throughout the webinar. This works well for software products. Tim's beginning pitch is 3-5 minutes and ending pitch is 10 minutes.

 

[37:40] Tim’s Q & A strategy:

Start with 2-3 buying questions:

Address the biggest objection first

(with Leadpages, it was, "Can I use this with more than one website?”)

2 more buying questions

2-3 non-buying questions based around the content

More buying questions ("Can you tell me more about your program/product/software?") and deep dive.

Get to Q & A as quickly as you can Answer buying questions Answer content questions Deep dive into product.

 

[39:19] If you use your Q & A like an opportunity to overcome objections, I found that that's kind of the magic that closes those last-minute sales."-TP

 

[39:34] Joel is testing a new offer structure internally that’s worked very well. “We position the objections within the content of the webinar.”

 

[40:59] What's the highest conversion rate you've ever had live on a webinar and what was the price point? Tim answers with his hiccup's-during-a-webinar story. "Like — BAD hiccups. It was brutal!". Converted at 50% and the price point was $577.

 

[45:22] “I believe we use the same headset — Sennheiser PC 8. It’s all I use.” Inexpensive but sounds great on webinars.

 

Connect with Tim

Tim’s website

 

Follow and watch a behind-the-scenes look at how I’m personally launching a brand new 6 & 7 figure product from scratch at SoldWithWebinars.com/TV

Join our Facebook group at SoldWithWebinars.com/Experts