Money on demand

Money on Demand Summary

Book Review, Thoughts of a Mastermind, Wealth Creation 8 Comments

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Money on demandWhat would life be like if you could easily make money online with webinars? How nice would life be? What if you had access to money on demand?

Everyone these days is trying to get rich.

People want money, and want it now. Many people turn to blogs, a brick and mortar business, or trading their time for money by selling their services.

One under-utilized medium of getting information and products to your customers is webinars. Surprisingly, webinars are both more effective and have all the benefits of a blog or traditional business.

What would you do if you could have money on demand through webinars?

Money on Demand, by Steven and Corinna Essa, shares with us 16 ways to build wealth online through webinars. Creating a profitable webinar is possible with the right formula and strategy, and webinars can be very lucrative.

Make no mistake, creating webinars and selling a premium product can be hard work. However, building a profitable webinar business could be your ticket to the creation of the online business of your dreams.

The rest of this post includes a summary of Money on Demand, takeaways from Money on Demand, and a reading recommendation for you.

Book Summary of Money on Demand

Money on Demand shares 16 ways to build wealth through webinars.

The 16 ways include, but are not limited to:

  • Using your knowledge and expertise to provide high value content for your viewers
  • Partnering with other experts and facilitating the webinar for their viewers
  • Selling and promoting other people’s products – making money through affiliate marketing or licensing
  • Interviewing experts and using their fame to get exposure for you and your brand
  • Producing webinars for businesses and securing contracts to produce recurring income for your services
  • Securing advertising on your webinars

Money on Demand goes into detail for each of these profitable webinar strategies, and provides a webinar blueprint.

Webinars are incredibly powerful for marketers and entrepreneurs. When looking to make a sale, you need to earn the trust of your customers.

Why Webinars Are Such a Powerful Marketing Tool for Online Businesses

People attend a 60-minute webinar because they have a hunger to learn about the topic covered.

A webinar allows you to present to hundreds, or even thousands – of people at a time from anywhere in the world. In addition, the typical conversion rate of a webinar is 10% (compared to blogs and sales pages which typically convert at 1%).

This means, if those 100 people show up, statistically speaking, 10 people will convert (purchase) on your product.

People like webinars because they are interactive, are personal, and packed with information.

With a webinar, you are engaging in a one on one chat with your viewers – you are the expert, teacher, and leader of the presentation.

This is one advantage over blogs or text-only web pages: by allowing your viewers to see your face, your brand and product is more personal. People want to buy from people!

“Everyone has an invisible sign hanging from their neck saying ‘Make me feel important’. Never forget that message when working with people.” – Mary Kay Ash

Finally, with all web business, webinars are cheap to produce, satisfy the law of effection, and are able to scale. Securing a domain can be as cheap as $4 a month, and once set up, thousands of people can view your video and enter your sales funnel.

For a few hours of your time, you can produce a series of videos and content and let it sit on your website. In exchange for an email address, you will deliver high quality content and generate leads for your business and product.

How to Produce a Successful and Profitable Webinar

Producing and creating a successful and profitable webinar is possible with the following strategy.

Most webinars are structured in the following way: provide value for two-thirds of the presentation, and shift to selling for the last one-third.

If you have a 60 minute webinar, this would be broken down into 40 minutes of high value education, and 20 minutes of selling. At the end, you could finish with a question and answer session. This last section is important as you can nurture the hot prospects by defeating objections to why they should buy.

For webinar software, screen capture can be done through a service like Screencast-o-Matic or Open Broadcast Software (OBS).

For hosting your webinar, you could stream on Facebook, YouTube, or on a meeting software such as Webinar Jam, Zoom or GoToMeeting.

Now that we have talked at a high level about producing profitable webinars, let’s get into the details of what should be included in your webinar.

Steps to Create a Webinar to Sell Your Products and Services

Creating a webinar can seem a little intimidating.

However, your webinar can be great through the proper preparation and strategy. Money on Demand provides us with a very solid webinar creation strategy.

Below is a high level summary for producing a successful webinar:

  • Coming up with a great introduction
  • Structuring the content in 3, 5, or 7 steps
  • Illustrating the steps with stories and case studies
  • Introducing your product or service

Let’s get into a more detailed discussion on each of these webinar sections.

Creating a Great Introduction for a Successful Webinar

When starting your webinar, you want to capture the attention of your viewers. You want your viewers to get EXCITED about your product, service or information.

The first ten or fifteen minutes of a webinar are very important.

Make sure the introduction covers the following topics:

  • Identify the webinar’s intended audience
  • Describe who you are and why you’re sharing this information
    • Answer the question “Why should I listen to you?” Include as much evidence as you can that you have experience in the field. Show how you’ve achieved significant results yourself as a result of implementing the strategy that is about to be revealed in the webinar.
    • This will establish that much-needed trust. Trust is a vital component for closing sales. As I always say, “nothing sells more than proof.”
  • Explain why the audience will benefit from this webinar.
    • To ensure the audience stays engaged throughout the whole presentation, make sure you whet their appetite with what’s about to come.

By creating a great introduction for your webinar, you will start creating the necessary trust and authority for your presentation.

Structure the content in 3, 5, or 7 steps

The next step after the introduction in your webinar is to structure your content in 3, 5, or 7 steps.

If you are presenting on weight loss, this could be the “7 steps to lose that stubborn body fat”.

It’s important that the content flows well, so the viewer feels you’re taking them from point A (not knowing anything or knowing very little about the topic) to point B (having a clear understanding of how they can achieve the results promised in the title)

These steps should provide the viewer great value and information, and further build trust towards your brand and expertise.

Illustrate the steps with stories and case studies

When going through the various steps of content in your webinar, you will want to illustrate the steps with stories and case studies.

Try to include in each step a story or case study to illustrate each point made.

For example, talk about how your client, Lucy, identified that her bad habits were the cause of her lack of results. Once she started applying your strategies, she found success.

The more you include stories and case studies, the easier it will be for your audience to digest the information and remain engaged. Too often, presenters treat webinars as tutorials or lectures, which is the fastest way to lose your audience’s interest.

Introduce your product or service at the end of your webinar

After the information, you can transition to introducing your product or service.

To transition smoothly from the content to the selling, it’s important to announce you’re about to offer an opportunity for people to go further, faster.

Say: “I’ve delivered priceless information to you, right? But if you haven’t followed this system before it could be a little overwhelming, right? Is it okay if I share with you how you can achieve your weight loss goals the fast and easy way?”

By following this structure, you will connect with your intended audience, establish yourself as the expert, and promote your product effectively.

After the webinar, you will want to follow up with email marketing and additional sales procedures to keep your viewers and leads warm.

Monetizing for Your Profitable Webinar Business

If you are an expert in a subject, sharing your knowledge and expertise can be the product.

Once you produce one webinar, you can continue to produce other informative webinars and establish yourself as an expert in the field. This is similar to other content based online businesses, where your content is the product.

One-on-One coaching is an easy way to monetize free content and webinars. You are the expert and can help people with your expertise. Coaching can be structured in 30 minute one-on-one sessions, premium group classes, or email coaching.

Online courses, eBooks, or physical products can be used to monetize your webinar as well.

At the end of the presentation, the goal of your webinar is to establish trust and authority, and show your viewers the potential of your product, service and methods.

Takeaways from Money on Demand

With every book you read, it is a must to have takeaways and actionable items to implement in life.

For Money on Demand, there are two main takeaways:

  1. Video and webinar sales pitches convert on average 10% vs. 1% for blogs and traditional pages.
  2. Webinars aren’t that difficult to produce and are personal, interactive, and just as informative as an e-book, blog, or online course.

With these two takeaways, the next step is brainstorming which subjects you have expertise in to produce a high converting webinars.

Once you have a target audience and a topic, you can draft an introduction and outline of the content, and start promoting your event.

What’s great about the Money on Demand webinar method, you don’t need to have a product to sell. You could come up with the product afterwards, offer coaching, or produce more webinars!

Money on Demand shows us it is possible tap into the world of making webinars to make sales, and is very inspiring with some of the stories included.

“Having the world’s best idea will do you no good unless you act on it. People who want milk shouldn’t sit on a stool in the middle of the field in hopes that a cow will back up to them.” – Curtis Grant

The Mastermind Within Recommends Money on Demand

Money on Demand is packed with actionable steps on how to make money online while utilizing the power of the internet and webinars. Webinars aren’t new – but with an abundance of blogs and written content on the internet, webinars will continue to become a bigger part of sales and marketing in the future.

Most get rich online books are full of fluff and contain few actionable steps.

Money on Demand is far from a book full of fluff.

Getting in front of a camera isn’t for everyone, but there are numerous other ways you can utilize webinars to build wealth. Promoting, marketing, and setting up webinars are alternative routes. Of course, if you are an expert, you can produce and promote your own product or coaching.

Webinars convert higher than traditional web pages and will give your sales pitch a personal touch. Learn about the power of webinars with Money on Demand.

Money on demand

Would you be interested in doing webinars to build wealth online? What topic are you an expert in? Would you be willing to get on camera and share your knowledge and help others?

About the Author

Hi! I'm Erik, the creator of The Mastermind Within blog.

I'm passionate about helping you improve as a person, get better with your finances, and create your dream life over time.

Through setting goals, critical thinking and intentional living and action, I believe you can master your life, win with money, and get on the path to freedom.

Get your free make more money guide below, or browse through the 6 portal pages after the guide form.


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Comments 8

  1. I have my doubts with affiliate marketing though. It seems as though everyone is jumping on the bandwagon nowadays. Based on theory, the excess profits from this should be wittled away away as more and more people get into affiliate marketing.

    1. Post
      Author

      I agree with you. The money is NOT in affiliate marketing, but in creating the products yourself and then letting others bring leads to you 🙂

      It was just one of the points made in the book – creating and promoting your own product isn’t for everyone I guess.

    1. Post
      Author

      Thanks Amy for the comment. I’m looking for new ideas and ways to build wealth. This was an interesting book because I’ve never realized Webinars were a way to promote and market a product!

  2. I have only had a couple of experiences with webinars and was not impressed. Perhaps my choices were bad, perhaps they were just not very good, but I’m yet to be convinced by them.

    1. Post
      Author

      There is a script and formula that people should follow according to the book. It will be interesting to try these scripts out for myself!

      Thanks for stopping by.

  3. I used to webinars for my last job, and they can be a really cool medium. Though I’ve never thought to use them for blogging, I can see how experts could really leverage them for some awesome results. Just don’t go too salesman-like; people will see through that B.S. real quickly!

    1. Post
      Author

      Thanks for the comment MMD. Yes, the book says to be smooth in the sales pitch. Really, it should be very HIGH quality content and then you can transition it into, “hey, I’ve provided you great information, right? Do you want to get more information and help on this subject? I can help you with my coaching, do it for you service, etc.”

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