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

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

 

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