As lock-down persists, many of us are considering running an virtual summit, something online marketers have been doing for awhile. But if you’re wondering whether it is worth the time and effort to run a virtual summits, here’s are some of the top benefits:
* They make money. Even a free summit has the power to add to your bottom line through “back end” sales. The ability to market to new subscribers again and again means you’ll continue to make money from your summit long after it’s finished.
* They grow your list. Yes, your virtual event will likely be free, but like any good giveaway, an email address is required for participation. Because you’re hosting a multi-person event, though, you’ll be in front of many more eyes than normal, which has the power to add hundreds or even thousands of new names to your mailing list (although make sure you get clear consent from a GDPR point of view).
* They make you an expert. Even if you’re relatively new to your niche, simply by surrounding yourself with experts you’ll gain instant expert status. You can leverage your new status to gain interviews, speaking engagements and more.
* They create long-lasting connections. While you might not have a lot of connections now, the guests you invite to participate in your summit will likely become long-term partners and friends.
TIP: Think about creating a space for your online summit participants to connect them increasing the chance that long-lasting relationship form. Just like Phlex is using their Ugenie Community Hub for their upcoming online summit Workarama on 11th June.
*They offer an opportunity to give back. Got a charity or cause that’s close to your heart? Consider donating the proceeds from your event. It’s a great way to help others while growing your own business. This could be especially useful right now as charities are struggling with funding through the crisis.
These are just a few of the many benefits of hosting a virtual summit. They really are the best way to grow your business for free, and while they can be a lot of work to plan and execute, they’re definitely worth the trouble. Check our our recent blog on rookie mistakes you should not make if you are running an online summit.