As a business owner, one of the most challenging things is growing your mailing list of ideal clients who are excited to sign up for your offers.
The sad truth is, building your list could take years especially if you’re implementing traditional methods. Now if you’re ready to accelerate your growth a lot faster, then you might want to consider hosting a virtual summit.
If you’re wondering why you should host a virtual summit to grow your coaching business, then keep reading.
In this article, we’ll talk about how you can leverage the power of a virtual summit to skyrocket the growth of your mailing list, and ultimately propel your business forward.
You will learn:
- What a virtual summit is
- Why you don’t need to be well-known in your niche to host a virtual summit
- 18 exciting reasons why you should host a virtual summit
- How to design, plan, and host a profitable virtual summit from scratch
Before we dive into the benefits of hosting a virtual summit, let’s talk about what this type of event actually is.
What is a Virtual Summit?
A virtual summit is a multi-day, multi-speaker online event designed to bring education and resources to a specific industry or niche.
Depending on the goals you have for your event, you can host a virtual summit that’s free to attend, or charge a fee (and or sell the recordings).
You can also choose to structure your summit as a one-day, or multi-day event.
There’s really no rule for how your summit should look like, but it should be structured in a way that works for you and your audience.
Do you have to be well-known before hosting a virtual summit?
Virtual summits have actually leveled the playing field because anyone, regardless of your business experience, or where you are in your business journey, anybody can invite and interview an expert. That’s the simplicity of the strategy.
So to answer this question, no, you don’t have to be well-known in your niche before even hosting your first virtual summit.
This is one of the reasons why you should host a virtual summit.
Why You Should Host a Virtual Summit: 18 Reasons
I held the world’s very first virtual summit in 2005, which since has become the most powerful business growth strategy for many experts, leaders, and entrepreneurs in hundreds of different niche markets and industries.
As the originator of the telesummit (which most people now call a virtual summit or online summit), I can honestly say that it is the single BEST strategy that allows you to propel your business forward fast.
Here are the benefits of hosting a virtual summit:
1. Put your business on the map fast. Virtual summits have taken over the internet as the fastest way to put your business “on the map”. It helps more of your ideal audience to know you and your offerings.
2. Grow your mailing list and your social media following. This is one of the biggest reasons why you should host a virtual summit. It allows you to grow your audience and your mailing list fast. Many summit leaders grow their subscriber list by 100s or 1000s of new contacts!
3. Position yourself as the go-to expert on your topic. Positions you as a mover and shaker, and a go-to expert in your niche. If you’ve ever wanted to be seen as a TOP coach in your niche, this is the shortcut you may be looking for!
4. Get endorsed by other experts in your field. Gets other people to introduce and endorse you to their customers and subscribers as an expert on your topic and an industry leader, resulting in new clients and connections.
5. Position yourself at the center of influence. One of the benefits of hosting a virtual summit is boosting your reputation. Summits help put you at the center of influence among your peers – a very special position to be in that’s not easy to achieve in any other way!
6. Build affiliate relationships. By partnering with your guest experts, you can create an affiliate program so they can get commissions on sales of the summit recordings. Keep in mind that these strategic collaborations can benefit you for years to come. You can also partner with them on future launches – so it’s a win-win!
7. Align yourself with industry leaders. A virtual summit is a great way to build relationships with experts who are well-known in your niche. Hosting a summit with an impressive lineup of experts makes it an event your audience doesn’t want to miss.
8. Collaborate with peers and even competitors. The importance of building relationships and strategic collaborations cannot be overestimated. When done correctly, you can leverage your connections by supporting each other, sending client referrals, and other business opportunities.
9. Create your own community and a passionate tribe. Gives you a platform to start a movement and quickly build your own community of passionate followers and potential customers, a tribe of people who will read your posts, buy your programs, and come to your workshops!
10. Elevate your brand. One of the amazing reasons to host a virtual summit is it opens you up for more opportunities, and helps you become an authority in your niche, therefore elevating your brand.
11. Boost your coaching income. Allows you to easily double or triple your coaching fees and boost your income (regardless of how you choose to monetize your event, the “mojo” a virtual summit gives you instantly elevates you over other experts in your niche)!
12. Create your own event. Have you always wanted to speak at other people’s virtual events? A lot of summit hosts require experts with mailing lists of at least 5,000 or 10,000. You have a powerful message to share with the world, so don’t let that stop you. This is why you should host a virtual event, and become known for your very own event.
13. Create a high-quality content-rich product. Allows you to create a product without spending months creating your own content, which you can sell for years to come (I’ve been selling my own summit recordings for over ten years!)
14. Get invited to speak and attract other opportunities. Gives you massive visibility and gets you speaking gigs at other virtual and live events in your coaching niche (some will come from the connections you make with your guest speakers, while others will come as a result of positioning you as the go-to expert on your topic).
15. Raise your fees as a premier expert in your field. A virtual summit positions you as a top expert in your field, elevates your brand, and helps you to command higher fees for working with you.
16. Make waves in your industry and attract attention. One of the best benefits of hosting a virtual summit is that it puts you in the same tier as the notable experts in your niche. You’re also putting the spotlight on your expertise, and by hosting your own summit, it makes you stand out and become an influential person in your industry.
17. Accelerate your growth. Many summit leaders experience fast growth following their event, leveraging all the publicity, relationships, and content for years after the summit is over.
18. Do it all without leaving your house. Last but definitely not the least, one of the biggest reasons why you should host a virtual summit is that you don’t have to spend money on a venue, plane tickets, and other expenses that you would normally have for an in-person event.
How to Design, Plan, and Host a Profitable Virtual Summit from Scratch
Now that you know the many benefits of hosting a virtual summit, you will need a step-by-step guide to get started.
Download this FREE virtual summit planner and start planning your one-of-a-kind event!
Milana is an entrepreneur, business strategist, and marketing mentor to coaches, authors, and speakers. She is the author of two books, “Coaching Millions” and “Simplicity Entrepreneurship”, the creator of telesummit. She is also the creator of Coaching Genie, an online platform for designing and delivering coaching programs with ease. She came from Soviet Ukraine almost three decades ago as a classical musician with zero knowledge of the business world and has since built multiple six and seven-figure businesses. Today she’s passionate about showing entrepreneurs how to use simplicity as a growth strategy. Goodbye complexity and overwhelm. Hello, simplicity, profits, and ease.