Webinars and conference calls can be a great way to reach more consumers and make connections for sales. More and more it’s becoming a viable strategy to educational institutions and companies and before we start to talk about deciding how much to charge, there’s another question you have to answer first.
Should You Charge For Your Webinar?
Deciding to charge comes down to what kind of content you’ll be presenting. Not all webinars are created equally and fall within one of two categories: premium or marketing content. Marketing content tends to be the kind that is designed for gaining exposure to a product or brand. Premium content is information that you can’t get anywhere else.
Let me give you an example – we have a customer in the banking industry that offers webinars on recent changes, updates, or new regulations in that field. The information is not available anywhere else and it’s education in nature, which makes it acceptable to expect a small payment for attendance.
Now that you’ve decided if you want to charge for your webinar, you should do a bit of research before you choose an amount.
Start With a Google Search
The truth is that a webinar is online content and a lot of people have the expectation that it should be free. Start with a Google search in reference to the topic that you want to host a webinar about. Even if your webinar is “premium” content, if you see a lot of free content already out there it might not be the best idea to charge.
Ask Yourself What Makes Yours Exclusive
If you decide you still want to charge for your webinar, you need to determine what makes yours exclusive and special. Is there a very popular speaker on the conference? Are you getting insider information that participants usually can’t get unless they attend a conference or pay a membership fee? If you’re going to ask people to pay to attend something make sure that they are paying for something worthwhile. Before people choose to spend money on something they are going to want to decide what’s in it for them – so make sure you have the answer to that question ready.
Check the Industry Cost
Do a quick search and see how much it would cost to attend a class at a local university for this information and include any potential travel costs like airfare or hotel. Beating that cost should be easy considering everything you need is online, including materials. Now, find out if your competitors are providing any webinar content like this? Can you beat their costs? Starts there and then adjust your cost as needed to cover any expenses.
The truth is that when it comes to ‘what to charge for your webinar’ there isn’t a perfect answer. There may be times when you feel that charging wouldn’t be the best idea so I say you should always go with your gut. Just remember that your webinar attendance cost should come down to the value and not the money you want to make.