Sales & Lead Gen, Auto Webinars and InterOptin w/ Travis Stephenson | #002 | Pt 1
Automated webinars are the hottest things right now. Internet marketer Travis Stephenson says webinars have been around for a long time and he’s had GoToWebinar for seven years now. He got into doing his first webinar in 2011, but it wasn’t until about a year and a half ago that he started applying webinars skills to doing it on a mass scale basis. Travis joins Joel as they talk about useful stats and actionable tips on how to convert your audience, how to successfully run both live and automated webinars, as well as insider information about different strategies to use for auto webinars. Travis reveals how he’s using automated webinars with his software InterOptin to generate leads and sales.
Sales And Lead Gen, Auto Webinars And InterOptin with Travis Stephenson
I’m excited to have Travis Stephenson on the show. We had so much information on this interview that we had to break it up into two parts because Travis was sharing so much knowledge about what he was doing with live webinars and what he was doing with auto webinars. This will be part one of our two-part interview with Travis Stephenson.
On part one, we’re going to be discussing how he is using automated webinars with his software, InterOptin, to generate leads sales. I want you to focus in on this interview because he gives you a lot of great strategies for how you can use webinars to sell software products. He has a lot of great insider knowledge about different strategies to use for auto webinars. Let’s go ahead and jump right into part one of our interview.
I’ve got a very special guest on, Travis Stephenson, who has been crushing it with webinars. We’re in a similar Facebook group with a mutual friend and Travis dropped some huge value bombs in the Facebook group about a webinar that he was doing. He was doing automated webinars. Whenever somebody does automated webinars, it immediately piqued my interest because it’s the hottest thing right now. I asked him if he would hop on and spend time with us and share what his experience has been with automated webinars. Specifically, how he has been using them to drastically grow his software businesses and everything else that he’s working on. Travis, welcome to the show.
Thanks for having me. I appreciate it.
I want to have Travis give his own personal introduction. Just a quick introduction on how he started as an entrepreneur, how he came about discovering webinars, and what he’s doing right now. Then we’ll dive deep into what he’s doing with automated webinars. Travis, can you fill us in with your background?
I did the normal college route like most people do. I graduated and took a sales job. I took a sales job and I had never sold anything that this guy wanted me to sell. I sold zero and it was a $50 a month product. I got so depressed and got headaches that I went to the doctor. The doctor said, “You need to quit your job because it’s bad for you.” Four months later, after trying to play Poker professionally, which did not pay off, I took a job interview for a personal assistant. If you go to college, you don’t get $70,000 in debt and go become a $14 an hour personal assistant. The guy said, “You’ve got charisma. You’re young. I want to teach you some other stuff.” It so happened that the company was owned by Shawn Casey, one of the old godfathers of internet marketing.
I was thrown into CPA marketing, lead gen and email marketing. I was an affiliate manager right off the bat. I started learning the game from other affiliates. I realized that I could do this for myself instead of doing it for other people. Over the course of a couple of years, I realized a couple of things about myself. You have to internally audit yourself over time. I realized that setting up sales pages is not something that I like doing. Writing sales copy is not me because it’s too one-sided. You have to hope that you’re engaging the visitor enough and it lacks a little bit of personality. It lacks the true value of whatever you might be selling if you’re selling something that does have value.
Webinars have been around for a long time and I’ve had GoToWebinar for years. I have been using the same GoToWebinar account forever, $99 for 1,000 attendees, grandfathered in. It’s $600 now a month, which is crazy but I’d still pay that. I started doing them and I got into doing my first webinar in 2011. I did a launch with Jamie Lewis called Income Entourage where we built this cool little legion software. It was huge and we did $12,000 front end sales in seven days. It was massive, and we were one of the first people to do all of our training inside of the member’s area, live on the first day, second day, third day, instead of doing training videos where nobody could ask questions.
I started seeing that and I’m like, “We have an opportunity with these live, having people on sessions.” From there, I started looking into doing more sales presentations via webinars. It wasn’t until about a year and a half ago that I started applying what I think would be webinars skills to doing it on a mass scale basis. Since then, it became a lot more natural to me. I’ll get into a story about my webinar where I sat down for an hour and wrote out all the individual slides. I never edited them. I never proofread them. I just went through and did it and had my designer make a design. Since then, we’ve done $115,000 in sales on three webinars. It’s one of those things where a lot of times people overthink it, but you don’t necessarily have to.
You’ve definitely tested live webinars. You’ve tested automated webinars and we were talking about your software called InterOptin.
You’re selling these via automated webinar?
Yes, I do both automated and live. There’s no substitute for live webinars, especially when it comes to dollar per attendee values. There’s zero substitute for getting somebody on a live call. I feel this all the time. This is one of the biggest things that people need to pay attention to, especially entrepreneurs who were trying to grow their business, is paying attention to the individual person as opposed to treating them like thousands of other people. Auto webinars, while they’re phenomenal and I love them, it’s so one-sided. You’re never calling the person’s name out. You’re never saying yes and answering that individual’s question. You’re never reading the actual question verbatim out loud to the customer for them to know that you’re engaging with them. I can tell you for a fact looking at the metrics when I’m on a webinar live and I say somebody’s name, they’re 900% more likely to purchase than somebody whose name I don’t read. What I do is I make sure that on all my webinars, I am the engagement king.
Some guys get on my webinars and like other marketers, they’ll get on and they’ll say, “You spend the entire time saying, “Say yes” or “Say me” or “Say awesome.” If you’re in a face-to-face conversation with somebody and they never give you any feedback, how do you know that they’re listening, paying attention, or understanding? When you’re in a Webinar of 500 people and if nobody’s talking, how do you know they’re listening, paying attention, or understanding what you’re actually saying? I always do that. What I’ll do is when I say, “Say yes,” that’s another cool trick, always get them to say yes so that they’re used to saying yes throughout the webinar. I get them to say yes and when I get people to say yes, the yes starts streaming in. I make sure to take a moment and be like John, Julie, Susie, Brad, Jacob, I go through them and everybody’s saying yes.
Those people whose names you can utter out, we’ve done the numbers, are 900% more likely to purchase because it now goes from you’re not one of a thousand, you’re one of one. It’s a big deal. Automated webinars, I love them. We run them to a live webinar signup once a week. I do an encore the next day and then it’s all automated from there. Whenever anybody asks me for replays, it goes to whatever webinar replay. I did have a lot of good success with my InterOptin webinars straight to auto webinar. I have some cool stats that would help a lot of people if they’re looking at doing a lot of webinars.
We tested a bunch of different times and here’s what we found. Our Just-In-Time webinar did ten sales during this one week that we tried it at $9,370. We had three sales on the replay of somebody who signed up for the Just in Time. We had every single opt-in who opted in for the Just in Time Webinar was worth $30.66 to us. If you’re paying anything less than $10 for that lead, you’re making $20. I was paying $5, so my ROI was awesome. 28% of the audience watched the entire webinar live when they signed up for the Just-In-Time. 13% of the audience watched the replay and then 75% of all the people who opted-in for the Just-In-Time session watched at least some part of the webinar. You’ll see the rest of these stats are staggering compared to the other numbers.
How much was the offer for InterOptin here?
$997 or we had the multi-pay $397 times three.
This was cold traffic straight to Just-In-Time webinar. For those of you who don’t know what Just-In-Time is, it means when you click on the landing page, the webinar is going to start within the next fifteen minutes or 30 minutes. It means it’s happening right now. The goal there is to get your attendance rate as high as possible. The psychology is if somebody clicks on an ad, they’re interested in the webinar. It’s like, “I might as well sign up now because the next one is starting in a couple of minutes.” Just to clarify what Just-In-Time means.
Our performance on Just-In-Time or a lot of people calls it JIT for Just In Time webinars, our 3:00 PM session, we only did three sales, $3,000, less than 40% of all the opt-ins watched the live session. Every opt-in was worth $10.87 that they opted-in to the 3 PM. Unless you’re targeting an audience that’s real only entrepreneurs and the middle of the day for them is available, it doesn’t make any sense. Our 7:00 PM session, every opt-in was worth $18.59 and our 12:00 PM session, every opt-in was worth $10. Overall, in a ten-day span, we had 1,117 registrations. We did $15,749 in sales live and $3,388 in sales on the replay.
Overall across the entire funnel, whether it was noon, three, seven, or Just-In-Time, our average subscriber earnings were $17 per lead. We were making $17 per lead on the live and on the replay itself. To give you a little bit of perspective on that, last night we’re right around, give or take, $30 to $50 per lead on a live webinar. That’s what I mean when I say it’s a give and take. You get a lot more of your time back. If you say, “My time is worth $100 an hour, I don’t have to do four of these webinars every single week,” I’m saving a lot of money doing that. I don’t knock it.
It’s getting harder with Facebook to make the auto webinars work. It’s odd but we’re going to continue to try it. I love the idea of constantly rolling people into these automated webinars. If they don’t attend the live or if they opt-in and you never hear from them again and try to do a follow-up series to an automated, that’s awesome. Moving forward, one of my big tests is going to be live. We’re going to set up an A/B split test and do a live versus an automated. Same ad, everything cloned and see what’s the value here? Is it worth it for me to never do another live webinar and just pump automated and see how it goes? One of the beautiful pieces of EverWebinar is there are notifications, the emails they send out and all that.
I took advantage of every piece of it. We do an immediate email that goes out. We do a one-hour before email that goes out, we do a fifteen-minute before email that goes out and we do a fifteen-minute text that goes out. Two hours after the webinar ends, we do a replay. Our numbers are phenomenal with these open rates and with the click rates. We tweaked around a little bit with the text message reminder because one thing that I realized is when you send automated text messages, there’s no phone number on it. It comes from a random number. You have to waste a little bit of your allowed texts to remind them what they’re getting the text about, making it comfortable and then all that. We do not send them a link to join the webinar and the text message. We tell them go check your email. You don’t want them on the phone for that.
You dropped a ton of value. These stats that you gave us, this was for the InterOptin webinar, the $997 offers, is that correct?
Yes, it was a ten-day period for my InterOptin webinar.
What was the timeframe that you ran this? Was this recent or was this back in a couple of months ago?
That was in October, November.
The average earnings per register is very critical statistic for webinar registrations or for webinar funnels, EPR, Earnings Per Registrant. You have to be measuring this because this is going to tell you from top of the funnel to the end of funnel if you’re profitable. With Just-In-Time, which was running every fifteen minutes, you had $30.66 earnings per registrant, which is great. If you’re averaging a cost per lead of $5 or $10, bare minimum, you’re making three times your money back right there. 3:00 PM was at $10, 7:00 PM was $18 and 12:00 PM was at $10. The average EPR across the entire funnel is $17 earnings per registrant. What I’m gathering out of that was, you did it live once and then you push everybody after that to the replay.
This was all automated right from the beginning. In that funnel, there was no live session ever. It was a live recording that I did with a different group. I made it fit anybody and then I uploaded that recording. That’s when I started this campaign. None of that traffic ever saw an actual live webinar that saw one of the replay recordings.
This was completely 100% automated webinars from start to finish and making $17 earnings per registrant on average, which is good for an automated webinar. When we do our live webinars, our benchmark is we want to shoot for $22 to $25 earnings per registrant and that’s the baseline, that’s where we start. If it’s below that, then we’ve got to look at our funnel, but that’s where we shoot for. Have you ever tested self-liquidating offers on the thank you page with webinars? I’ve got some conflicting information with this and since you’ve got so much experience with it, have you ever tested that in your funnels? Meaning an offer right after they register for the webinar?
I’ve done a little bit of it. It’s a killer, especially from warm traffic. You can definitely get it rolling from warm traffic. Cold traffic is a little different. They don’t know you quite as well so it depends on what the offer is. It’s also different because when you’re selling high-ticket, you’re not going to get a lot of action on a self-liquidating high ticket offer on a thank you page. They need to be sold. They’ve got to be there and give it time to be sold. You can do low ticket and so sometimes I’ve tested around with the idea of a self-liquidating offer on the thank you page. I offer a low monthly continuity version of what they’re going to see when they go to the webinar. It does okay but it doesn’t nearly make as much money as what the actual webinars going to do.
What I do instead is a little bit of extra research on the thank you page. I give them promo material that’s going to make them more excited to be there. I give them a couple more case studies. I’ll give them a case study or two to download and show them some more statistics or things like that. I try to avoid selling anything that’s not the primary objective. I don’t want somebody getting on the call and being like, “I sat through your entire webinar but I just bought it for $47 a month and now you’re going to sell it for $997.” It contradicts itself, so I try to avoid that. I’ve heard a lot of people absolutely crushing it with that.
That’s cool but part of me feels like that’s got to be a lot of these guys who were doing agency work. They do a webinar and then the first webinar is just to get applications then you do the actual one-on-one follow up. I could see it working there because you can get the one on one application fee out of the way without having them do the webinar. Something like that where there’s typically an additional step involved anyways. For me, especially auto webinar, don’t distract them from anything. You want them to stay on the thank you page until the video starts.
I wanted to see if you had tested self-liquidating offers and if it had taken away from and had detracted from the overall funnel sales performance. I’ve tested it once before with a live event. To let you in on a little secret, this is an awful self-liquidating offer. Do not sell this. I was selling a big live event I did with Russell Brunson. It was called the Webinar Success Super Summit and on the thank you page I sold copies of the recordings and cliff notes. I sold people not to show up to my live webinar. We sold a bunch and it was a good frontend moneymaker, but our attendance rate was very low. It’s like, “Here’s the recording so don’t show up live.”
Sometimes it’s counterintuitive. I’ve been using this expression lot lately, which is a cool expression or metaphor. It’s the difference between hunting and farming. A lot of people talk about, “I want that money right away.” “I know my ads are going to break even because I’m making more money back right away.” To me that’s hunting, that’s going after the food right now. Farming is the long-term approach. You’ve got to take some risk. We’ve been running cold traffic to live webinars. We make nothing for seven days and I spent $11,000 in the last nine days on ads.
All of that money, none of it could have come to fruition until the day of the webinar to make any money with it. I did make money with it. I use the actual software that I’m selling in the ads which help me generate more revenue. I’m more of the farmer, not the hunter. A lot of people are overlooking that it needs to be done that way. Your story is a perfect example of putting the immediate meal in front of the long-term eating for life objective. It’s interesting that you had that experience.
It’s like the direct response world, we want to get the result now. We want to self-liquidate or add costs now. If you just take a pause for a second and cultivate your relationship just a little bit, that relationship could be worth two, three or four times, whatever it is in probably a little bit longer. Thanks so much for being here. We hope you enjoyed this episode and we look forward to giving you the next one. You can also follow and watch the behind-the-scenes look at how I’m personally launching a brand new six and seven-figure product from scratch at SoldWithWebinars.com/TV. If you’d like to come hang out with other fellow experts, join our Facebook group at SoldWithWebinars.com/Experts. Join us next time and I’ll see you there.
About Travis Stephenson
Nothing unusual here! Grew up with a mom and dad who worked hard. When I got to college I paid my own way through. Of course when I graduated I took the only job available which involved Cold calling, door to door sales to businesses… and NOT a lot of income.
So I had to get creative… and found a home on the internet as an affiliate!