A virtual summit is when you gather up a bunch of thought leaders in a relevant field and do an interview with each of these guests. But, instead of including them in your podcast, you would create a summit where all the interviews and content are available at once, and usually in video form. You can either offer this as a low-ticket paid offer, or the more common option is to allow free registration with limited-time replay, and then the attendee would need to pay a certain amount (usually $17 - $297) to have extended or permanent access to the videos, and perhaps some bonus content that wasn’t available in the free version.
Aside from the possibility of generating revenue using this method, you also will get in front of a vast audience. To do this, you would sign up each guest as an affiliate so that they earn a portion of sales for anyone they refer from their list who upgrades to the paid version of the summit. In exchange, the guests will email their list (and perhaps post on social media) talking about how they are a guest on the such-and-such summit and encourage their audience to check it out. When one of their email list subscribers signs up for the summit, you now have their email address and are growing your email list. In exchange, the guest may earn a commission if anyone on their email list who clicks their affiliate link to register ends up taking the upsell.
It’s a win-win.
I will be including a spreadsheet to keep track of your virtual summit reach outs in Podcast Profit Pro
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Virtual Summits are the new webinar.
I'm not a fan of either of these. In my experience, I've been a speaker and an attendee. It's mostly been a waste of time and resources to be honest.
The problem seems to be that the goal of a Virtual Summit is to making money for the organizer rather than to actually dispense useful information.
It doesn't seem to me that anyone is returning to the content they paid for access to. Once the event is over, it's forgotten. Most organizers end up repurposing the content to squeeze even more money out of it.
Also, I've run into Virtual Summits where a large number of them were all arranged by the same person at the top, an obvious transfer of funds from an un-savvy group to someone working a method and an angle.
I know it's unfair to say this is the case with all Virtual Summits, but I avoid them like the plague because of these reasons.
Just my unsolicited 2 cents.