7 Telesummit Pricing Mistakes To Avoid – Part 1

If you’re considering hosting your own telesummit – and you should, because it’s an incredible credibility, list and income builder – you’ll want to steer away from a number of easily avoidable mistakes that can cost you a lot of money. This way, you’ll increase the event profitability and create a win-win-win situation; a win for the audience that needs the content and support provided by your telesummit, a win for your guest speakers; and a won for you, the business owner hosting the virtual event.

Here are the 7 pitfalls to be aware of and bypass for your telesummit to succeed:

Setting yourself up for disappointment by offering a FREE telesummit, instead of a FREE preview
If you want to cover the set-up costs and make a profit from a telesummit, hosting a FREE event is risky. Numerous case studies have shown that complimentary virtual events attract a less invested audience that is less likely to upgrade their passes, let alone accept your or your guests’ offer(s). For better results, host a free preview to the telesummit that will grow your list, but charge a fee to attend the telesummit session and get other associated goodies.

Ignoring the impact of your niche market when choosing a revenue model
The best price points to pick are the ones that mirror your target niche market – how much are they able and willing to pay to attend your virtual event? You can put together the most interesting telesummit ever, but if it’s inaccessible to your ideal audience, your event has little or no chance to succeed. So, remember that it matters who you’re organizing it for – business owners or consumers as the first differentiatior, and then try to go deeper in understanding your prospects decision making.

Ignoring the impact of your telesummit topic when choosing a revenue model
Similarly, another crucial component of profitable pricing that you can’t afford to miss, is your telesummit topic. Is it a topic related to soft or hard skills? Soft skills examples are: communication, team building, spirituality, healing, marketing, coaching, leadership. Hard skills include: law, budgeting, direct sales, languages, accounting, financial management, to name just a few.  The fact is that lef brain and right brain topics demand a different approach to pricing (hint: left brain topics can be priced higher!).

Lacking a post telesummit monetization plan
Another critical mistake to ward off is not having a clearplan on how to leverage your telesummit and turn it into multiple streams of income. Once the virtual event is over, you can offer additional services and/or products to your telesummit attendees, such as coaching, consulting, information products, continuity programs and more. The sky is the limit – or rather, your imagination.

In Part 2 of this blog post, you’ll disover 3 more “deadly” telesummit pricing mistakes, but in the meantime, I’d like you to check out an invaluable resource for every emerging telesummit host.

It’s Leesa Barnes’s very special program called Telesummit Pricing Secrets that takes all the guess work away, and leaves you with crystal clear virtual event pricing know-how.

Leesa has perfected her step-by-step formula based on thousands of hours of virtual event know how, and now, you can get your hands on it for a fraction of what you’d pay her for private consulting.

In Telesummit Pricing Secrets, you’ll learn:

• The 4 revenue models that work and how to choose the right one for your telesummit
• How to use a car buying technique to price your telesummit so it meets every budget, language, learning style and lifestyle (you’ll kick yourself for not using this sooner)
• How one of Leesa’s colleagues iTunes her telesummit content and how you can use this pricing model to attract attendees
• Why the topic of your telesummit matters and why attendees will pay more to attend certain topics over others
• The magic number you must use in your pricing that’ll help you attract a flood of sign-ups

Go to http://ow.ly/6KZzY to get your hands on this program while it’s still offered at this low, low price.

One Response to “7 Telesummit Pricing Mistakes To Avoid – Part 1”

1. 7 Telesummit Pricing Mistakes To Avoid – Part 2 | The Multi-Passionate Entrepreneur says:

   October 7, 2011 at 1:25 pm

   [...] 7 Telesummit Pricing Mistakes To Avoid – Part 2 Posted by Martina Srblin in Blog on Oct 7th, 2011 | no responses [...]

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