In this episode, we’re talking about joint venture webinars, how to find the right allies, and when it’s best to go solo.
Webinars are incredible when it comes to creating a positive buzz about your business and gaining momentum with your email list. But if you’re not utilizing the benefits of joint venture webinars, you’re definitely missing out.
What Is A Joint Venture Webinar?
A joint venture webinar is just what it sounds like: a joint endeavor between two business owners who decide to put on a webinar together.
Typically, one of them will host the webinar on their own site, in front of their own audience. The other will typically make an offer to the viewers at the end.
Although the specifics might vary, the person who is presenting to the other host’s audience typically gives a percentage of any sales income to the host of the webinar.
The host is able to offer an incredible webinar resource to their audience…without having to put a ton of time into creating the content! Any affiliate commissions gained through the webinar are also likely to have a better conversation rate than one obtained through affiliate links to a sales page.
For awesomely enhanced benefits, the two can swap places! The original host can present to the other’s audience, and make an offer for his or her own services at the end.
This is where the success really starts happening. After a webinar swap, both of the hosts have had a chance to build their email lists – and are able to make some great money in the process.
Finding the Right Webinar Ally
For the joint venture webinar to work, you really have to trust the other person. A good place to start is to go through your existing business friends with whom you already have established great relationships.
This way, if something negative were to happen during the venture, you are less likely to lose a friend – and more likely to learn from the experience together.
You could also look for a webinar ally among the other experts in your industry who are able to present on stuff that complements your business.
The Software Requirements
Find a webinar platform that lets you have more than one host. Since a follow up after the webinar is often where the sales happen, make sure you can easily record the presentation, as well.
If you’re looking for a more detailed list of software recommendations, check out our article on AmbitionAlly: How To Host A Webinar On Your Website In 15 Minutes.
As far as affiliate tracking is concerned, I like the capabilities of the WP Affiliate plugin for WordPress.
At AmbitionAlly, we use Infusionsoft for our affiliate tracking needs…but if you are an Ontraport fan, you also have access to the features we love.
And of course, you’ll want to have a solid email marketing system to have these new subscribers joining your list, so you can follow up and keep building that relationship.
Other Systems To Make Your Life Easier
In this episode, I also go through some of the other systems that make a joint venture webinar a more seamless process. From choosing the right microphone (We like Yeti by Blue, though any one works) to choosing the right presentation style (on-camera vs. a slideshow), there are a lot of things to consider during the planning stage.
Repurpose the Recording Into a Podcast
Repurposing the audio of your webinar is a great way to expand the reach of your joint venture! Although using the whole webinar might be a little long (60-90 minutes is a solid range to shoot for, in terms of webinar length), you could definitely pick a 5-10 minute excerpt that you think is super valuable – and turn that bit into a podcast episode.
When repurposing your audio, you still gain list building benefits – but with a wider reach. Simply download the video and strip the audio … or use software (such as Zencastr) during the recording process to get an audio file right off the bat.
Sometimes It’s Just Better To Go Solo
Joint venture webinars offer incredible benefits to both parties involved – but sometimes, when all is said and done, it is just best to go solo.
If you’re offering untested products and don’t have a proven track record yet, it might be better to wait a bit to have a joint venture webinar. After all, you want your first impression with a new audience to be a great one. Proving your product first and then teaming up for a joint venture webinar is a better way to ensure your cross promotion will be a smashing success.