A joint webinar is a new twist to the already proven webinar delivery methodology. In this article, we are going to read about all the benefits of joint webinars and working together with a joint venture (JV) partner and why you should keep joint webinars in mind when preparing your next webinar.
There are a lot of smart reasons to join together with another professional in your niche or market if you are thinking about giving a webinar. The chances of joining a seasoned joint partner when delivering your first webinar are low, but you can still partner with another marketer that is just beginning like you, that way you can still benefit from your joint venture.
This is a great WORKING paper by J. Michael Geringer from the Southern Methodist University, on how to choose the ideal joint venture partner, hopefully will be up for a while, but if not let me know. Here is the link: http://scholar.smu.edu/cgi/viewcontent.cgi?article=1135&context=business_workingpapers
Joint Webinar Benefits
Let’s take a look at some of the best joint webinar benefits and how with little effort you can learn so much from your partner:
1. One of the benefits of teaming up with someone else in a joint effort on a webinar is lower cost for both parties. Depending on your niche and your presentation software and tools for running a webinar, maybe hiring a technician, etc. the average cost of conducting a webinar is some-where between $100 and $3,000.
Teaming up with a joint venture (JV) partner makes a lot of sense financially. You and someone else split the costs, so this is one of the most attractive joint webinar benefits for small, cash-strapped or just beginning businesses.
2. You double your marketing efforts without doing any more work yourself. You have an audience. Your joint venture partner has an audience. You immediately increase your exposure, as does your JV partner, when you team to offer a webinar. This means without doing any additional work, you automatically have the possibility of reaching more people than if you were to run a webinar by yourself.
3. If you choose your partner correctly, your skill sets complement each other. You are good at some things and probably not good at other things, when it comes to marketing and running your business. The same is true with other business owners in your area of interest. When you are really good at engagement and presentation, and your JV webinar partner excels at marketing and promotion, you have a partnership that benefits both parties.
4. You probably have a product that you would like to offer at the end of your webinar. If you go the JV route, your partner will as well. Someone may not decide to purchase your product, but they may purchase your partners. This gives you an added revenue stream. Aside from that, if you structure your offer correctly and work with your partner, a small group of your attendees are going to purchase both your offering and that of your partner. This improves your possible income and profits.
5. Maybe the biggest benefit of teaming up with someone else to offer a webinar has to do with mental and emotional support. Things are going to go wrong, there will be hurdles to overcome, software may crash, your writers or product developers may cause problems, and a million other things can happen. You can visit this page describing some of the most common webinar problems and how to fix them (LINK) if you want a reminder of what can go wrong.
Knowing there is someone else involved in the webinar creation and delivery process, as well as sales and customer follow-up, can take a lot of un-necessary stress off your mind.
6. Team up with a partner on a single webinar, and you sometimes can create a JV partner for life. This means reducing your effort in marketing, product creation, list building, webinar delivery and every other aspect of your business when your webinar partner becomes a lifelong JV source.
7. You may be delivering your webinar just to give away some incredibly valuable free information. This means you are using this marketing platform to build your email list. However, you eventually want to monetize your webinar. Your JV partner might have some ingenious ways for monetizing that might be valuable information for you. If you want to discover ways to monetize you can read our article about webinar’s monetization (LINK).
8. Learning. More than anything a new partner will be able to teach you things you didn’t know before. Always be ready to learn and if you are lucky enough to partner with a seasoned marketer, your path to success will shorten and will become easier.