The speaker stopped running free webinars because they attracted 'broke tyre-kickers' who couldn't afford his high-paying coaching clients. He found it to be a complete waste of time and incredibly frustrating, as only 5% of attendees were qualified prospects.
The speaker switched to paid workshops, charging $100 per attendee. This change resulted in 1,400 people paying to attend in three months, with 55% of attendees becoming qualified prospects overnight, leading to over a million dollars in additional revenue annually.
According to the speaker, high-value prospects avoid free webinars because they perceive them as merely a 'pitch disguised as content.' They are busy and understand that free content often leads to a sales invitation rather than pure value.
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