EP 190: A Debrief Of A $300K Virtual Event
It’s the first episode of 2021, and I’m excited to share a recap of my virtual live event from last month. I’m joined by my integrator Katie, and we’re diving into the results, the ups and downs, and the takeaways from a $300K event.
Rather than speaking in general terms, we’re sharing numbers, including ticket sales and costs.
We had a mix of bonus tickets and ticket purchases. For tickets purchased, there were two price points: event only ($97) and VIP ($297). The revenue we made from ticket sales offset our costs, which were right around $24K.
One of the benefits of running a virtual event is they’re much cheaper. We reduced our costs even more since I didn’t want my team traveling during the Covid spike, I decided not to bring in an AV crew, and I used my basement instead of renting a space. Our biggest costs were the SWAG boxes, the tech platform, and Facebook ads to a warm audience.
We had 148 people attend any part of the event, which was about a 70-75% show up rate. But since it was a virtual event, people don’t necessarily show up for the full event like they would have if they had traveled. We had about 100 people present for each main event.
At the pitch session, there were 102 at that session. But the problem was that my microphone went out two times, once when I was pranking them and then again when I was starting my pitch. People tried to refresh to get their sound back, and unfortunately, many of them couldn’t get back in the session. Despite this, the results exceeded our wildest expectations.
What You'll Learn in Today's Episode
- The breakdown of my $300K event from December, including costs
- What the offer was and the conversion rate
- The trick I pulled off to share my new FREE program
- The impact of my announcement of BOM University
- Why we had the results we did
- How I pitched using the same material I had been teaching
- Why we didn’t have to do any post event follow-up
- The planning process for the event
- Why we were transparent and created the event without gimmicks
- How we created a virtual event that didn’t suck
- The extra touches that people loved
- Why we didn’t use Zoom as our platform and what we used instead
- Overall takeaways