Hosting an online summit is the smartest business strategy that you can adopt as an online entrepreneur or small busines owner.
I have written in a previous post on what a virtual summit really is but I wanted to delve deeper into how hosting one can truly change your business forever.
What is amazing is online summits, otherwise known as virtual summits can work in any niche and industry. If you haven’t hosted one, you are leaving a lot of profits + exclusive benefits on the table.
Here are the life-changing reasons to host a virtual summit:
.1. SMART-ASS WAY TO VALIDATE YOUR IDEAS
What’s the first thing to do when you get an idea? If you pick the option, zoom out the door and spend thousands of dollars building your first product, you are dead wrong.
A virtual summit gives you a platform that is just the right size to see if it’s something your target audience want or if you need to tweak it to make it more appealing.
Besides, with a new idea, chances are you don’t have as much knowledge as you need to execute successfully. Using this business strategy, you get experts to share proven business secrets without paying a dime.
.2. RAVING FANS THAT JUST LOVE YOU
Give people exactly what they need and they will love you for it. People will only sign up for your virtual summit if they love what you are offering
While this limits the number of opt-in’s, it also increases your audience loyalty and helps you build quality audience that can’t wait to like, share and sing your praises to others.
.3. BECOME FAMOUS
Okay, maybe not Dangote famous; but hosting a virtual summit can get you noticed by the right people who would otherwise not have thought you existed.
These are the people that will end up signing up for your summit, invite you as a guest on their podcast and even promote you to their audience
.4. BECOME A GO-TO EXPERT IN YOUR FIELD
The internet is crowded. It is going to require more than a few post entries and blog comments to stand out.
By bringing experts together to share incredible value to your attendees, their expert status automatically rubs off on you.
Imagine kicking off the launch of your new product with a virtual summit or interviewing influencers as a part of your core strategy to expand your influence online…
Call it the law of association or whatever – it just works, plain and simple.
.5. LEVERAGE: ADD UP-SELLS AND CROSS-SELLS
Every move you make as a business owner should be part of a bigger picture, rather than one-offs. That said, you need to maximize your time and energy meaning create once, profit over and over again.
You can leverage your virtual summit into a product, add upsells and cross-sells.
I am of the opinion that you shouldn’t create a virtual summit without maximizing every avenue you have to get the only three things that matter to your business.
- List building
- New Income Stream
And sponsorship was a big area of focus as I created my virtual summit. Using my virtual summit business strategy, I was able to secure media sponsorship from some big brands including Jobberman, Mara Mentors and Sawtel, official partners for Cascade in Africa; plus other sponsorship that were available but I didn’t consider or didn’t have enough time to explore.
Having sponsors for your summit will provide you with one or all three benefits listed above and it’s a great way to build sponsorship interests for future projects.
.7. RELATIONSHIP WITH EXPERTS ALL AROUND THE WORLD
I wasn’t a newcomer in the online space but hosting a virtual summit helped me build relationships with experts from four countries – US, UK, Nigeria and Australia and brought visitors from over 35 countries.
.8. AFFILIATE OPPORTUNITIES
Would you like to be the first to know about affiliate opportunities and get paid high commissions?
Have you wondered how it seems as if opportunities always find others?
By hosting a virtual summit and nurturing your relationship with these experts, you will be notified when special opportunities arise and you will have access to back end information not available to everyone else.
And it’s not just affiliate opportunities; you will also receive updates if there is a new product or free swipe resources that you can share with your audience because you will be perceived as an expert.
.9. OPPORTUNITIES TO GET FREE MEDIA AND PUBLICITY
Hosting a virtual summit is a perfect reason to start getting free media and publicity for yourself and business.
Once you put a one-page speaker kit together, you can approach your local media or visit the contact section of podcasts website to contact the person in charge.
Getting free publicity increases the chances of your target audience finding you online and offline and is also good for SEO.
.10. SPEAKING INVITES
If you are like me, you want more opportunities to be placed in front of your target audience and there is no faster way to reach people than by speaking to them directly on a solid platform.
A virtual summit will help you build some crucial speaking skills like confidence and can also score you speaking invites from your speakers
Attendees that also like how you have put your summit together can send speaking invites and even grant you access to sell on stage.
.11. COLLABORATION OPPORTUNITIES
Unless you have a list of active subscribers, it is impossible to collaborate with your favorite influencer. In this scenario, a virtual summit is a long term business strategy because inviting that expert as part of your speaker line-up increases your chances of a future collaboration
.12. GET TRAFFIC ON DEMAND
Perhaps, the best part of hosting a virtual summit [and that I am incredibly grateful for] is building your email list by the 100’s or 1000’s.
After the summit, you will have a few unsubscribes and that’s okay. You don’t want people that are not interested in what you have to say on your list anyways.
But those people that remain on your subscriber list are interested in your next move. And if you want to open the flood gates of traffic to your new blog post, ideas and offers, you only have to send a couple of emails.
There is so much a virtual summit can offer you, especially if you do it right. It can open doors, and open your eyes to new possibilities, just as it has done for me.