VIRTUAL SUMMIT SCHOOL

VIRTUAL SUMMIT SCHOOL

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Frequently Asked Questions About Virtual Summits

By Bailey Richert | Queen of Virtual Summits

Some of the links contained in this article are affiliate links. Infopreneur Productions LLC may receive commission(s) if you click on the link(s) and make a purchase from the affiliate. Questions? contact@infopreneurproductions.com

Heard that virtual summits are a fantastic growth strategy for infopreneurs...but still have some questions about what they are and how they work?

In this post, I answer some of the most frequently asked questions about virtual summits!

What is a virtual summit?

A virtual summit is an online conference, essentially. You, as the summit host and organizer, will bring together a group of experts to be guest speakers who will be interviewed about their topics of expertise for viewers (the summit attendees to watch).

However, unlike a real in-person conference, a virtual summit is broadcast entirely online. Typically, virtual summit interviews are pre-recorded for the event, but all attendees 'tune in' on specific dates to watch.

How can hosting a virtual summit grow your business?

A virtual summit is often referred to as a 'lead gen' (lead generation) event because one of the biggest ways it can grow your business is by helping to expand your email list.

There are many other ways that a host can benefit from launching a virtual summit, though, including gaining visibility and authority, earning revenue, building relationships with peers and influencers in your niche, and more.

BAILEY RICHERT

///   Queen of Virtual Summits

Bailey helps course creators, coaches, consultants and more launch their own virtual summits in 90 days so they can explode their email list without paid ads!

How does hosting a virtual summit grow your email list?

As the virtual summit host, you will reach out to and invite to participate several influencers in your niche who have their own email lists of your ideal audience members.

As the virtual summit event dates approach, you will work with your affiliates to promote the summit to your audiences. When these speakers promote your summit to their email lists, their subscribers will opt into your virtual summit sales funnel, becoming your email subscriber.

Simply put, you grow your email list by leveraging the existing audiences of your guest speakers.

Do I have to already have a big email list before launching a virtual summit?

No, you do not need to have an existing email list of any particular size to launch a virtual summit.

Virtual summits have many benefits, and one of them is their ability to grow your email list, even if you don't already have one.

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Before your virtual summit begins, you'll be working with your guest speakers to promote your event. When they share your virtual summit sales funnel with their email subscribers, those who choose to register for your virtual summit will become your email subscribers.

This is one of the reasons that virtual summits are called a 'lead gen' (lead generation) strategy: the purpose is to grow your email list, regardless of your starting email list size.

Will virtual summits only work in certain niches?

One of the best features about virtual summits as a business growth strategy is that they can work in any niche.

Virtual summits work by applying proven business principles which will grow your business regardless of what topic your summit is on. Some of these principles include 1) using affiliate relationships to grow your email list, 2) positioning yourself as an authority next to your influencer guest speakers, and 3) high-converting launch strategies of a limited-time event.

As long as you have peers / influencers in your niche with whom you can collaborate, you can host a virtual summit.

How long does it take to launch a virtual summit?

I have created a 12-step virtual summit launch process which takes 90 days to complete.

Can I launch a virtual summit even if I don't have a lot of existing relationships with peers in my niche?

Yes, you can!

Just like you don't have to have a large email list to launch a summit, you don't have to have a large number of pre-existing relationships with influencers in your niche.

Rather, launching a virtual summit will give you a reason to reach out and work with peers with whom you've always wanted to connect. Instead of just emailing them out of the blue and telling them how much you admire them, you can now position yourself as an equal, a colleague, positioned with a reason to connect and collaborate together.

You can't expect influencers to reach out to you. You need to be the one reaching out and forging connections to expand your own network. Hosting your own virtual summit will give you a reason and the motivation to do that.

How can I make money with a virtual summit?

One of the benefits of hosting a virtual summit is that you grow your email list, and as you are attracting all these new leads through your virtual summit funnel, you can sell offers to them.

One of the main offers sold on a virtual summit is the "All-Access Pass", which is lifetime access to a membership area where all the summit interviews are stored. This All-Access Pass may contain other bonuses as well such as downloadable MP3s of all the interviews, transcripts, notes, or other bonuses.

The All-Access Pass isn't the only offer you can make to your summit registrants, though. You can also include order bumps and upsells in your funnel, giving you the chance to sell offers you already have and even create or pre-sell new offers.

What tools do I need to launch a virtual summit?

The tools you'll need to launch a virtual summit include both hardware and software.

The hardware is mostly related to the actual guest speaker interviews: microphone, webcam, etc.

The software you'll need is related to the virtual summit sales funnel you'll be building and the execution of your actual virtual summit. This includes items like a sales funnel builder, credit card processor, video host and more.

Contrary to popular belief, you do not need a special virtual summit software to launch a virtual summit. In fact, I recommend you stay away from those types of software and instead use a reputable sales funnel builder instead. Personally, I recommend ClickFunnels, and you can click here to learn more about why I use it to host my virtual summits.

How much does it cost to launch a virtual summit?

The cost a virtual summit largely depends on how much technology you already have or will need to buy and how much work you intend to outsource or do yourself.

Most of the hardware and software you'll need to launch your virtual summit are common tools most infopreneurs are already using to run their online businesses: microphone, webcam, sales funnel builder, email marketing software.

If you can use these tools you already own to launch your virtual summit, you'll save money. Click here to see a full list of tools you'll need to launch a virtual summit.

As far as the labor and effort that goes into a virtual summit, it is entirely possible to host a virtual summit on your own. I did for years when I was just starting out. You can bootstrap a virtual summit and still produce very good results if you focus on the activities that really move the needle.

However, if you have the budget, you might choose to outsource some time-consuming tasks like video editing or graphic design.

Do I have to commit to hosting my virtual summit annually if I launch it once?

No, you don't!

Many virtual summit hosts do choose to launch their virtual summit more than once because they have seen the incredible benefit that their event brought them the first time, and they want to capitalize on the work they've already done to establish their virtual summit brand. However, there is no commitment on behalf of the host to continue running their summit year after year if they decide to move in another direction.

///   Affiliate Disclosure

Some of the links contained in these articles and website are affiliate links. Infopreneur Productions LLC may receive commission(s) if you click on the link(s) and make a purchase from the affiliate. Questions? contact@infopreneurproductions.com

Affiliate Disclosure

Some of the links contained in these articles and website are affiliate links. Infopreneur Productions LLC may receive commission(s) if you click on the link(s) and make a purchase from the affiliate. Questions? contact@infopreneurproductions.com

Free Masterclass

Discover how to explode your email list in 90 days without  paid ads!

Free Masterclass

Discover how to explode your email list in 90 days without  paid ads!

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