In the beginning of my online marketing career I had my blog NavidMoazzez.com and I knew email was important but I wasn’t really interested in growing my list until I discovered virtual summits.
I decided to give one a try and I held my first summit which grew my email list to several thousand people. Since then I’ve helped other entrepreneurs do the same with their own summits which has yielded some incredible results.
At first I was skeptical about virtual summits, from an outsider perspective they don’t make any sense! How could these summits be generating 6 and 7 figures of revenue when they are free to attend?
The answer is in the upsell on the thank you page after the initial opt-in to attend. Usually the offer is to get recordings of the summit interviews as an All Access Pass, as well as some other exclusives.
That’s how you can grow your list and generate revenue all at the same time. By this point I had fallen in love with the model.
The ability for virtual summits to build your credibility is unbeatable. You have all the experts you’ve invited to take part in the summit cross promoting you, this massively levels up the “know, like, and trust” factor for your audience.
Being at the center of the hub lends you the credibility of all your guests and you get a chance to have a portion of their audience join yours.
I understand that virtual summits may not be a good fit for everyone’s business but you can still use the summit business model to gain a lot of traction for your list and position yourself as an expert in your space.
The formula at its core is pretty simple, you exchange access to your event for the prospects email. Once you have their email you can begin adding value to the relationship. Now that they are on your list you can follow up with an even more relevant offer that has a price tag around it.
This formula easily fits into the partnership model. Often I don’t want to admit but I’d love to do a cross promotion with another marketer I admire. I’ll reach out to them and offer to teach something I’m knowledgeable about to their audience. They handle the promotion and I create the content.
I don’t necessarily have to be selling anything, in fact if I don’t have a hard sell it improves the know, like, and trust levels even more. The benefit I receive is in the list growth and the opportunity to start my own relationship with those prospects.
Down the road when I do have a product to sell then I’ve already done the groundwork and I can convert them into paying customers.
At the end of the day, you’re investing in your relationships and adding value to your contemporaries. This is a win-win-win model where you and your partners both benefit as well as the customers who you’re serving.
- Find an influencer in your space who has a similar size or larger following than you.
- Ask them to do a cross-promotional partnership where you will teach their audience something valuable in exchange for their recommendation.
- Create the content for their audience and give them the opportunity to join your list.
- Continue to build the relationship with them and then offer them a paid product down the line.
Result You Will Achieve
Build your email list fast by cross promoting with partners and building relationships with their audiences using virtual summits.
This article is based on an EHQ interview with the mentor.