In the past few decades, technology has revolutionized every aspect of our lives, especially how we conduct business. Livestreaming as a Business Must-Have. The advances in the communication and technology industry has completely transformed the face and the pace of business in countless ways.
Information and files are now stored electronically, making access to information easier and faster than ever before. Emails, apps, livestream platforms and social media have also made communicating faster than ever before. Wireless internet and mobile devices have made working remotely, a possibility. The lockdowns during the pandemic have made working remotely, a necessity.
It therefore comes as no surprise that there has been a tremendous surge in “web entrepreneurs”.
Plus, when comparing the costs of running a bricks-and-mortar business (which easily add up to 5 or 6 figure monthly expenses) with the costs of running a web-based business, which can be as little as a few hundred dollars a month, even teenagers now run their own niche businesses online. Increasingly, teenagers as young as 13 year olds now build their own audiences online which they grow and monetize using platforms such as YouTube and Instagram.
We’ve also seen successful business people completely abandon their corporate career to experience the “laptop lifestyle”. We’ve also witnessed stay-at-home mums build a 6, even 7-figure web business. We’ve also met people who have gone from incredible financial hardship to millionaires thanks to the internet and new technologies.
This is particularly the case because web-based businesses:
- Cost practically nothing to set up and run (an internet connection can cost as little as $20 a month, some email marketing services are free or cost on average $15 a month, online conferencing tools are free or only cost an average of $100 a month and website hosting doesn’t exceed more than $15 a month)
- Can use outsourcing to build teams and scale their business for a few hundred dollars a month. Although it has been a very controversial practice and often criticised way of doing business, it allows companies to save up to 70% in costs
- Don’t require offices, only access to a computer and internet connection
- Allow you to free-up your time as most tedious tasks can be automated or easily outsourced
Web businesses have also become a very attractive business model for various other reasons such as:
- The flexibility it gives you. You can work from anywhere and anytime you want and as little or as much as you want.
- The end of commuting. Having a web-based business puts an end to countless hours on the road, stuck in traffic.
- The ability to live anywhere in the world, like sunny places mainly an option that was reserved for affluent retirees.
- The end of office politics. A web-based business owner no longer has to put up with difficult co-workers.
- The end of location restrictions. Anyone can find, communicate, interact and do business with people regardless of their geographic location.
- It is in most cases recession-proof.
However, despite the many advantages of running an internet business, not enough people have been able to reap the benefits of new technology as they have been too slow to adapt to these changes.
Too often, what stops people from experiencing the life and business described above is they simply don’t know how to generate real wealth online. Some courses currently available teach strategies that are extremely hard to implement and require too many resources.
Livestreaming as a Business Must-Have – For example, a lot of web business educators teach people to sell products for $27 to $47 by having a sales page online and driving traffic to that sales page.
This is a strategy that works of course and has worked for thousands of people. However, it can be tricky to implement for complete novices. Knowing how to drive enough traffic, day in, day out to make the whole process worth it, is a difficult skill that only a few people have mastered. It requires skills in audience building, organic and paid traffic generation, excellent copywriting skills while also a good understanding of all tools and platforms needed to perform these tasks.
With so much information out there, it often just ends up paralysing people even more. In order to build a 5-figure a month business from that particular strategy, an average of 100 sales a month would need to be generated. Considering the fact that a sales page converts at 1% at best (for every 100 visitors, 1 person buys), a total of 10,000 visitors a month would be required, making the whole process for novices very difficult, if not impossible.
This is why a lot of people wanting to experience having a web-based business end up only with shattered dreams.
That same frustration experienced by hundreds of thousands of people led me to discovering an easier, faster way to monetize the internet. A strategy that leveraged webinars and livestreams and didn’t require as much traffic. In fact, just 10 people a week to generate 5 figures a month.
Webinars and livestreams are web-based seminars, allowing you to not only deliver
information to hundreds, if not thousands of people simultaneously and in real time, but also sell to these same people.
What also makes webinars and livestreams extremely powerful are their extremely high sales conversion rates. Standard webinars and livestreams used to sell products and services convert at around 10%. In other words, should you be selling a product or a service on a webinar or livestream, expect 10% of your audience members to buy.
Plus, because of the higher level of trust established with the webinar host during a one-hour long live presentation, higher-priced products and services (as high as $15,000) can also be sold.
And it is based on these principles that now anyone can experience the laptop lifestyle, (yes, even complete novices). One single 60 to 90-minute webinar a week presented to just 10 people and which sells a $1,000 product (at a 10% conversion rate) can generate $1,000 a week in revenue.
And it is thanks to webinar and livestream technology that many web business millionaires have emerged and many more are about to.
As for existing business owners, webinars and livestreams offer them the ability to sell their products and services to anyone, at anytime with no geographic restrictions. For example, a Sydney-based naturopath can, in addition to seeing 10 patients a day face-to-face, deliver webinars to anyone around the world covering different ailments and their cure, and sell either further information or products such as food supplements.
Webinars can now enable already established and successful business owners remove their earnings cap due to time and geographic restrictions.
Webinars have come at the perfect time when most people prefer consuming information via video and complete purchases online.
Technology that until recently was only available to large corporations for thousands of dollars a year, is now available to anyone for just a few dollars a month.
Never before have you had the opportunity to sell products through live video conferencing to thousands of people simultaneously, from the comfort of your own home.
Until next time
Yours in Prosperity