Whether you call them webinars, Web seminars or virtual seminars, these online events have become a successful information product for many special-interest publishers.
Executive Summary
- Web Seminars Are A Welcome New Information Product Format
- While Revenues From Webinars are Modest, Margins Are High
- Web Seminars Are Now Widely Used by Both B2B and B2C Publishers
It always amazes me how people can worry about good things that happen. Sharon (not her real name) runs a successful $5 million special interest B2C publishing company that now has a successful web seminar program.
Problem: After 9/11 (a very bad thing), her live conference business took a hit (another bad thing).
Solution: In mid-2003, she did her first paid webinar, which drew about 80 people at $149 per person (a good thing). For 2005, she’ll sell about 2000 seats to 15 Web seminars, generating about $300,000 in revenue (another good thing). In addition to being six percent of her top-line revenues, Web seminars are now 17 percent of her profits (a very good thing).
[text_ad]
The Worry Part: Sharon is worried that her webinar business is not growing like it was before (year-over-year revenues are up about 15 percent). She’s also worried that Web seminar profit margins are too high to hold (she has almost no marketing cost as she only promotes webinars using her controlled circulation eLetter file). And, of course, she worries about whether she’ll be able to come up with another new product type to keep her business growing (don’t we all?).
BTW: Her live conference business has recovered to 2000 revenue levels with higher profit margins based on increased use of email to promote her live events.
Lessons: Webinars are very profitable ancillaries that are perfect products to promote via email because they are timely and are delivered electronically. Although almost exclusively used by B2B publishers for several years, we’re seeing more special-interest B2C publishers moving into this format.
Call for Comments: If you do webinars, Web seminars or any other version of virtual seminars, feel free to share your experience, growth plans, hopes and worries.
