Igor interviews Ty Cohen to find out how he made $5,000,000 in 3 years while traveling 35 countries with his family with just one webinar.
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Welcome back to another edition of the list building lifestyle with your host Igor Kheifets. Now today I'm recording out of a coffee shop here in Toronto, Canada, and that's why there's going to be background noise, are going to be real. Just genuine coffee shop environment basically because I always liked doing these episodes as just two guys or two marketers just having a cup of coffee and so today I'm really excited because recently about in the last six months, I was able to take my business to a whole new level by doing webinars and have been studying webinars and anyone who actually does them. And I came across this gentleman who I heard of before but never got to connect. And finally about two weeks ago we got to connect and I got to pick his brain about webinars and he really expanded my mind.
So basically he's not what you'd call a classic type of Guru, you don't see him speaking on stage. You don't see him publishing books. You don't see him wear $2,000 suits and flying in private jets. That's just not the type of person he is. But what he did is he actually made $5,000 with a single webinar while retaining complete freedom in his life and traveling at the same time, traveling to 35 different countries with his wife and kids while making that much money now. This kind of lifestyle is unimaginable to most people right now. And it was all possible thanks to creating just one webinar. So not two, not three, not five, not 10, not building a whole business about it. No, just one good webinar has resulted in creating multimillion dollar business that didn't even like look like a business because you can just run to the webinar once a week and build your list and make a ton of money and have lots and lots of freedom. So it is my pleasure to introduce to you, Mr. Ty. Cohen, Ty, thank you so much for being here today.
Ty Cohen: Oh, Igor, you know what, I'm ecstatic to be here. Thank you for having me. We're talking about actually one of my favorite subjects. And that is webinars, like yourself I've studied webinars forever and I continue to study and webinars have really changed my life. So again, thank you for having me here.
Igor Kheifets: Yeah. And this is exactly why and why did you ... First off a year, probably one of the most powerful webinar marketers out there, there's very few people, there's a lot of people out there who are very smart and they do lots of great things, which you kind of zeroed in on this one skill set, building webinars, and you were actually able to take one webinar to unimaginable success. Now on this call, what I want to do is I want to pick your brain and find out how did it change your life. First off, how did you discover webinars? And what was your life before discovering them and exactly what kind of transformation occurred as soon as you did. How did your business change? And where it lead. So let's begin with just a kind of briefing our listeners into, what was your life like before you discovered webinars?
Ty Cohen: Yeah. So before discovering webinars, I was always a marketer. So an info marketer. I got started with my first business when I was about 19 years old. And as a traditional business, for me, it was selling at events and selling at conferences and workshops and seminars and things like that. And then I'm fast forwarding maybe about 10 years into VAT or so, 10 or 12 years, I started publishing books to Amazon, so Amazon's Kindle platform to be more specific and doing really well with that to a point where I was doing about 20, 25 grand a month while publishing digital books on Amazon. And someone that's in the space, a mentor of mine, someone that I had always followed, that read all of their books, listen to the audios, said, "Dude, you're doing extremely well with this, you should share with other people how exactly you're doing this."
Now, this was prior to me knowing about the concepts of Webinars, right? So for me at the time, the way to share this with other people was by speaking from the stage number one, which it wasn't a favorite of mine, right? I wasn't really too keen to go out and speak in front of a lot of people that grew on me later, but the every way was to literally go to meetups. Now, meetups are pretty big now, right? There's literally meetups in every city, every state, and multiple countries as well. I know you're in Canada, I think. I know there's a ton of meetups that are out there. So I started to attend meetups that ... Or marketing related, author related, writing related which is the niche that I was in at the time and still am, and started to speak to groups of 10 to 20 people and just share with them what I'm doing as it relates to publishing books on Amazon.
So now keep this in mind right? At a meet up, I'm talking to 10 or 20 people at max, right? So not many people and I'm finding that per 10 or 20 people, I'm closing about two for every two people and selling them-
Igor Kheifets: Well that's not bad, it's 10% close rate.
Ty Cohen: Yes. And I didn't even know that at the time, to be honest with you. It wasn't later until I spoke to some of the more established speakers and they were like, "Dude, this is what savage and this is how you go in and increase that, et cetera." But now I'm only reaching 10 people at a time. 15 people, 20 people Max. And it's kind of tedious because you got to get in your car, you're traveling to different cities, traveling to different states and it's local. Fast forward, about a year later, I discovered this concept of doing online presentation, so it wasn't even really called a webinar at that point.
And I think I watched the guys from Nitrile marketing, Matt Gail, and he was partnered with a guy at the time. Oh, I forget his name right now, but it was a Matt Gail, who's one of the original godfathers of marketing and I sat here and I watched this presentation. It was for about an hour and a half and I'll mind you, I have a very short attention span, right? So for me to watch and I could barely watch a 30 minute television show. So for me to watch an hour and a half infomercial that was online took a lot. I was kind of fascinated by the whole concept because they sold. And instantly I said to myself, if I could take the same approach and instead of reaching 10 people live at a time, be able to reach 200 or 300. And it was something like 700 people that was on this presentation at the time.
So instantly the light bulb went off. I started to study webinars, started to perform a couple of webinars and hold them on my own. And that was it. I never looked back, never went back to that traditional means of going to a meetup, right? And approaching just 10 or 20 people at a time because now I could easily reach hundreds of people. I think we just did a Webinar, you and I and a partner of mine and we literally had hundreds of people on here that we were able to reach. And it was very lucrative.
Igor Kheifets: Yeah, absolutely. There's a good saying, once the mind is expanded, it doesn't shrink back. So once you realize that you can deliver the exact same presentation, invest the exact same amount of time and the exact same amount of effort, but what changes is how many people listen to you at that time and you all of a sudden make 10 times, 20 times, 100 times more money. You really can't go back to doing one on one calls, because-
Ty Cohen: Less effort at that. Right?
Igor Kheifets: Yeah.
Ty Cohen: So I'm sitting in front of my computer when I'm at home, right? Don't have to get in the car, don't have to speak to people. I'm a little bit introverted too, so don't have to get in front of people that I don't know. Right? I'm a little bit of a germaphobe too, so don't have to get [inaudible 00:08:41] that might be coughing and sneezing and everything else that's going on. So this was ideal for me. So it sticks to the phase, the phase of do the same thing and you get the same results, but do something different and you tend to get different results. So here, the slight difference was I was giving the same presentation and till this day the presentation is pretty much the same, same variants, right? You test different things, you add and take away different things, but for most part the presentation is still the same, but the difference was how I reach the audience, so the medium that I'm using the reach the audience there.
Igor Kheifets: Yeah. Not only that, because the medium actually changes the way the audience perceives you. So just like if somebody actually travels to a seminar and you come on stage and you're presenting in front of them, you carry more authority and your word carries more weight and therefore you will probably have more influence on these people in the audience looking up at you. In the same way when you get people to attend your webinar and they actually go through all the trouble over ... And they're logging in and downloading the go to webinar software and listening to you for an hour, that is the moment when you create more leverage because it beats having a video sales letter. It beats just sending cold traffic to [inaudible 00:09:55] every single time, so this leverage is just incredible. It changes your positioning, it changes everything about your business, but there's also other benefits that people don't talk about when it comes to webinars.
For example, in my business, what it really opened up was an avenue to build my list in totally different way. So I specialize in building cold lists, right? For a long, long time, and all of a sudden I realized that with the webinar, I can actually scale my cold list building because the webinar is probably the fastest way you can turn completely cold visitor that never heard of you ever before and doesn't know who you are, doesn't know what you do, into a high ticket buyer.
Ty Cohen: Absolutely. One of the beauties of ... I've sat and I've thought about that several times over the years, exactly how that process works. And one of my theories is you're now reaching someone at their zone of comfort. So you now coming into their home, right? Most people are watching the webinar from their home or they may be watching it from their office or from their mobile device, but wherever they watching it from, they're watching it from someplace that they're very comfortable with, right?
Versus going to a seminar or an event with avid and environment might be new. So what happens is psychologically, because they're in a place of comfort and you're now interacting with them, they see you as the authority figure already. They're in a place of comfort. And now with this Webinar, when you start to staying out, you're starting to add some credibility by telling them about your accomplishments. You get added a credibility, do transfer of credibility because someone else may have positioned you as the expert. For example, if you and I are doing a webinar, you might promote the webinar to your list. Your list sees you as the authority and now because you're promoting this webinar to them, they now see me as the authority. So that transfer instantly takes place, in addition to that, I get to frame myself. The framing is super important.
I get to frame myself on a webinar by talking about my accomplishments, why I'm the person that you should listen to, why it makes sense to listen to me because of how I've been able to get to this point and then I give them some solutions so it just totally pre-frames it in a way where they're ready to literally not only buy from you, but then I also find that a lot of people continue to follow me on social media and they interact with me in different ways and then when I see them in person it's like we've been friends all along. There's that relationship because I've built that from day one.
Igor Kheifets: Yeah, totally. I get that all the time, it's like where people get into coaching call with me or something just like, "Igor, I feel I've known you for years." But because they've been hearing my voice in webinars, videos and reading my emails and that's cool. I actually want to kind of circle back a little bit. So you spoke about the transfer of authority when someone else promotes your webinar, which is great. Now, this is something, again, most people don't talk about is when you create a webinar, you get to enter a different world, which is a world I entered about six months ago, which I wasn't even aware existed, where there's a world of people that have big audiences and they are actively looking for great webinars to promote. So can you talk a little bit about, how did you discover this world and perhaps what were you able to accomplish as a result of having one good webinar and allowing other people to promote it for you?
Ty Cohen: Yeah, absolutely. So I think it's like any industry or it's like any hobby, right? Let's say you're a stamp collector, you're a coin collector, right? So what happens is you might be a coin collector in your environment and then your neighborhood, there's no other coin collectors, but you go to a coin collector show, and what happens is hundreds of other coin collectors. You guys can talk about coins from sunup to sundown. You go to lunch, you're talking about coins, you go to dinner, you're talking about coins, and you literally end the night out at the bar talking about coins. Well, same thing in almost any other industry, especially like this webinar industry. You'll find that these people, that that's all it is. I mean, they love talking about the webinars. They can't go home to their wife, to their husband or significant and talk about webinars because usually those individuals have no clue as to what they're talking about. Right? So when they find someone that has a similar interest, it's like a whole new world has opened up.
Now, the big I had a shift for me was that these people that have a list of vendors, people that have webinars and both of those individuals are looking for each other. And both of those individuals not only don't mind working with each other but love working with each other because there was a value in [inaudible 00:14:42] right? So meaning, the list gets value. There's value in a monetary format because both of you guys make money through the sales of the product and then there's value through you giving education because most webinars, you're teaching something as well as selling, so you're providing the education. You're providing content of individuals that are watching the webinars, so one of the biggest things for me was to not be intimidated by reaching out to people that have list and saying, "Hey, I've got this webinar. Would you mind promoting it for me?"
There was a moment when I realized that people actually want you to promote them. They want you to reach out to them, now as long as you do it in the right way, right? You don't want to do it in a spammy way. You don't want to be a pest when you're doing it, but if you do it in a way where you say, "Hey, I've noticed that this is your following, that you provide X, Y, Z type of value to them. I have something that's very similar to in a webinar format. This is what I teach, this is what the price point is, this is what the commissions are.
I think we could do something together that would benefit everyone at [inaudible 00:15:50] including adding value to your audience. When you do it that way, most people are happy. Most people say yes and most people continue to work with you year after year after year and not only that, but they'll also go in and tell their peers and other people that they know in the industry that, "Hey, Igor has got a great webinar. You should go in and promote his [inaudible 00:16:09]." So it becomes easier and easier and easier, if that makes sense.
Igor Kheifets: Yeah, absolutely, and it's interesting you mentioned that because a while ago I had a client who was actually a fellow Israeli and he was getting some coaching for me for his pay traffic and I'm all about mailing heart and you've probably seen me do it all by promoting your webinar. I was going hard on it-
Ty Cohen: This guy is as a madman. He was going nuts and I picked up some tips from them too. So that's the other thing. You pick up tips from no matter where you're watching it.
Igor Kheifets: Yeah, and I had actually Mike hit me up a couple of times, yesterday was like, "Hey dude, what are you using to do this? What are you using to do this? I can't believe your funnel hack [inaudible 00:16:45]."
Ty Cohen: We actually thought about that and I think this is good for the listeners too. So Mike is a partner of mine. We actually were together on a Skype call, on a Zoom call actually at about 10, 11:00 last night talking about what it is that Mike should reach out to you for? Because there's some things that you did well with our webinar promotion that we want a model, right? So you're always learning when it comes to this process. You always learn by the things that you shouldn't do, right? And then also, you look at people that are doing things such as Igor who's successful at this as well, and you model some of things that they're doing. So that's how Mike reached out to you?
Igor Kheifets: Yeah, for sure. And this is really just a quality that's so common between all the top achievers and if we're not for anything else other than being able to learn which offers convert really well, I'd probably like if I was getting started with from complete scratch and I had nothing going for me. I'd probably get a job working for someone with a webinar, maybe doing their tech stuff or maybe just being the assistant just so I know what they promote just so I know what those relationships look like so I can study them and model them. So anyway, I had this client and I was telling him, his name is Vitalis. I was like, "Vitalis look, you have to mail your list every day and you have to pitch in every email." He's like, "No, you can't pitch in every email, you're going to upset them, you're going to have them on subscribe or whatever." Anyway, that's a very common concern I get. And I was like, 'Yeah, that's going to happen. It was just going to make more money."
And he told me something, that for me was at the time I registered like a, we'll see way to email, but later on I learned how true that, that it wasn't the only way to do it, but definitely was a really cool way to do it. He says, "Look, I prefer to mail it to webinars." I'm like, "Why is that?" He's like, "Well, because they can position them as free training and that's easier than selling." Now don't get me wrong. Vitalis is actually not a newbie, he's made a lot of money especially during the crypto boom in the BizOpp space. But, to me, I didn't recognize how people get queasy about selling.
And so when you have a webinar, when you mail for one, it's really just a great excuse to mail your list. And for many people, even the ones who make a lot of money, when you present them with such opportunity and say, "Look, I got this Webinar and you can invite your people for free. But at the end of it, I'm going to close a bunch of sales for you and give you half the money or whatever." There's very few people is gonna to say no to such proposal.
Ty Cohen: Very smart. And I totally agree. One of the tests that I've continuously run from year to year is the test of how often do you mail your list? And I'm like, you, I mail every day, sometimes I mail multiple times a day and then what do you mail your list? So when I first got started, I was part of that same belief system, right? If you mail your list too often, they're going to unsubscribe. And then I started to test, if I mail my list content, meaning pure content, not a single link in there, step to, how to, versus if I mail my list marketing material, what happens and how often do they unsubscribe? Well, what I saw is that regardless of what I mailed to them, whether or it's pure content or whether it's marketing materials, they kinda unsubscribe at the same rate.
So the moral is, they're going to unsubscribe anyway, so if they're going to unsubscribe you mind as well, mail marketing material, right? And you can kind of provide the value in there by marketing only webinars to them or primarily webinars so that you're positioning it as, "Okay, here's something that you're going to learn and then if you want to take this training even further, there's going to be an advanced training available." So now you're telling them what they're gonna learn and then you're giving them a way to add advance what it is that they want to learn as well. Most people look at that in a way where they're very appreciative of it.
Igor Kheifets: Yeah, absolutely. And this is really, really important to mention because not every click is actually equal. So when you mail your list, you get one type of click, and that's a good click, sure, if it comes from your email list, it's probably you could click. But if you take that click and turn it into a webinar viewer, that click becomes infinitely more valuable to you. We're talking about the difference between getting 15 cents EPC, for some of you who don't know what EPC means, it's earning per click, that's how list builders measure their income and their effectiveness and you can take that 15 cent EPC click and turn it into a $6.15 cents EPC click all because of two reasons. First, the webinar audience is going to be way more engaged. They're going to be focused on the content, they're going to feel more obligated to buy at the end of it because you've educated them and extended their mind with new ideas if you do it right, of course.
And the second thing is on the webinar, after investing so much time into that presentation, you're probably not going to sell a $17 product, which is obviously helps out with the EPCs when selling $1000 item.
Ty Cohen: Yeah, you must've been reading my mind just now because I was just gonna throw that out there. One of the things that I've learned over the years is that the price point, it makes a huge difference. So especially when you're first starting out, you might think, hey, who's going to buy $1000 product or who's going to have spent $500? Or who's going to spend $2,000? But there's a ton of people that are out there that actually won't buy something if it's not priced at a certain price point. There's people who won't buy. But if it's not Tommy Hilfiger, right? If it's Walmart, they won't buy it. And then you have people that only buy the Walmart brands, right? So you have to kind of know who your audience is. And then one of the things that I like to do is I like to train my audience, so the only types of webinars that I promote our webinars that are at 997 and up.
So between nine 997 to 1997, which initially becomes a little bit hard especially if you, if you have buddies that are in the industry who had the 297 or the $97 Webinars or the products and they reach out to you. But the numbers make so much sense, right? If you've got a $1000 Webinar that you're promoting, it takes just 10 sales to make 10 grand with [inaudible 00:22:56] versus if you have $100 product that you're promoting, right? To make 10 grand with [inaudible 00:23:02], you've got to make 10 times the amount of sales there. So the number's always look at that and every once in a while, the way the mind works is tricky. So the mind will always try to get you to go in and move to the lower price point. Even as you're putting your products together, you're going to think about that, right?
The mind will screw with you. It'll say who's going to pay 1000 bucks for this? Or do I have enough content, do I have enough value in here to justify charging %1000 dollars for? So if the same thing works when you're looking for things to promote. Now the one thing that you should pay attention to is go in and run a couple of tests. Not too many because you don't want to condition your list to receive these types of products, but we want a couple of tests where you promoting lower price point products to $40 to $50 products and then run a couple of tests where you're promoting the higher end products, right?
Start at 500 bucks if you have to and then 1000 and then know the difference, know the difference and how much easier it is to make money and not only that but I find that there's a higher quality customers that your attracting to when you get, of a person that's willing to pay $1000 versus the person that's paying $17 or $27. We see so many less support tickets come in when we're promoting the higher price point products versus the lower price point stuff.
Igor Kheifets: Yeah, and I agree with you completely. It's a lot of times it's comes down to their investment and not just the monetary investment but the mental investment because if you pay 1000 bucks, you're more invested and also you get truly a higher quality of a person working with you, which makes your business fun. It makes it more profitable and gives you way more leverage. Now a lot of it actually comes down to like you said, the mindset. Pretty much most of it is about mindset and it's about just asking you for it with a straight face, meaning that you yourself believe that whatever you're giving them is worth more than $1000, which doesn't actually come down to the amount of content, but rather to the solution and the impact of that solution, that, that solution is going to have on their life.
Ty Cohen: Yeah, absolutely. I know without a doubt that for any one of my webinars, if someone ... Now we're charging 1000 bucks, but I know for a fact that if they came in and they paid $5,000 and they followed the system and they implemented and did not waver and stuck to it, it would totally not only change your life, but it would change the life of the people that are around them just as it has for me. So now that I'm implementing things that I've learned through marketing and just owning a business, right? I'm able to take my family around the wall. I'm able to just live a higher quality of life. So knowing that for a fact that "Hey, if my customer applies what I'm teaching, they will get a return at 10x, 20x, 50x, whatever it may be.
So then, when you look at it that way. That $1000 or that $500 or that $2,000 now becomes more. I listened to an audio a while ago. It was a series about ... Seven, eight years ago by Bob Proctor, who's also up there in Canada where you're at, and he says the quickest way to make a million is to make a million look small, so you don't look at it as a $1 million, right? Because if you look at it that way, then it's hard to attack with, super hard, right? Unless you've made millions before. But he says you break it down. So you say I want to make a million a year, now, how much do I have to make per day? So you take a million and you divide that by 365.
Igor Kheifets: Well, I actually don't know that number. But I'll tell you what 10 million is because that-
Ty Cohen: That's your number.
Igor Kheifets: You got it. So that comes out to $27,700 something a day.
Ty Cohen: Okay, so and you see, so it looks like you've had some similar training there. So when you look at it that way, right? And then you break that down by hour or so and then by minute it becomes a lot easier to be able to go in and digest it. You say, "Well, maybe I can't make a million right now, but this 500 bucks I can definitely find a way to make a million. I can go in and do this and then I can go in and 10X that." Right? So it becomes a lot easier. So the same thing with justifying your price point, figuring out what type of value you provide, and understanding that if the person that you're selling it to takes action, they'll get results that really equate to much more than what they paid for initially.
Yo, it's Igor. If you're loving the content, hop on over to
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Igor Kheifets: Another thing I learned over the years is that the price may change depending on who's buying it. For example, if you're selling a coaching course and productivity to a fortune 500 CEO, the value of that course to the fortune 500 CEO is going to be way higher than if you were selling the exact same course to somebody who's just trying to start their home based business and they're not making any money yet.
Ty Cohen: Absolutely.
Igor Kheifets: So, with that said, when you identify your target market, you have to think not about the deliverable you give them, but rather what is the value of solving of the problem or having the solution or having that new life that they really want. And so that's why you can always, you can always find a way to justify that price to yourself first because once you've done that, you can charge a higher price.
Ty Cohen: Absolutely. Yeah. To give you an example of that, before we went live on this thing, we were talking about, traffic generation system that I was telling you I recently purchased. Now, I spent 3K on this thing and to someone that doesn't have a site or doesn't have a product or service to sell, you might think, well, spending $2,000 on how to drive traffic. That seems a bit much-
Igor Kheifets: On a home study course about how to drive traffic.
Ty Cohen: Yeah. And that's pretty much it, right? It's a home study, it's information, it's information and an argument could be said, hey, you can find information anywhere. You could find information on YouTube, you can find it all over Google, but what I'm buying is, I'm buying distilled information from people that are experts that have done this for years and they packaged it all in one place so that I don't have to spend time scouring YouTube, scouring Google right? My time is much more valuable than the 3K that I spent. So if you look at it that way as well, who's the audience that I'm selling it to? What is your time worth and what is the information that I'm giving them worth? What are they able to do a with this? So now there's $3,000 investment, I can now go in and 10x that or more over time. So now 3K looks extremely small when you look at it that way.
Igor Kheifets: Absolutely. Again, it's all about the relative value of the solution. So, okay, so now we've talked about how webinars changed everything for you, how one webinar can easily take it to a million dollars, so you can create a business around your own lifestyle and not vice versa using webinars. And we also kind of in between the lines that we spoke about how combining aggressive email marketing with webinars is probably the best combo of them all. Now, I want to take this conversation next to some of the mistakes, some of the most embarrassing mistakes that you feel you've made when it comes to webinars. So perhaps maybe top three or top five mistakes that you feel you made early on, which hindered your progress, which you now realize were absolutely just pathetic. Bad, embarrassing. I want the dirt. Okay?
Ty Cohen: Yeah. Absolutely. So [inaudible 00:30:59] was, I was doing a Webinar with a guy in our industry by the name of Joe Peterson, he was the second or third guy that I had ever did a Webinar with and he promoted me and I actually got this relationship through another good friend of ours, a mutual friend of ours, a guy by the name of Greg Caesar who knows both me and Jill, so Greg puts his reputation on the line. He says, "Hey, Joe, Ty's got a great webinar. You should promote this thing." I went in and at the time, I was being super cheap and did the webinar on my laptop and not only on a laptop, but it was a very old outdated laptop, processor was old. The capacity was outdated. Everything. So midway through the webinar, the laptop just literally blows up.
We're using go to Webinar and it's like we're just right into the close, just getting into it and it closes where you start to pitch. So where you start to sell your product or your service? So I've gone through the content, we're about an hour into it, the audience is loving it, the comments are great in my head I'm like, oh my God, this thing is going to be amazing and I'm calculating the sales already, right? Thinking about all of this stuff that I'm going to do and buy and everything else. And all of a sudden it just fizzes out, right before, literally 30 seconds before I give them the link to go to.
So that was probably my most embarrassing moment as it relates to doing webinars. Now I had another one where this wasn't me, but the guy that was hosting me, right before we get onto a webinar, we're talking as you do and I guess he forgets to mute out his microphone. So he does the introduction, I come on, I'm doing a Webinar. He forgot to mute out his microphone. Someone in the background must have pissed him off big time because you could hear him just cursing up a storm. "What the heck [inaudible 00:33:04] I told you to get this darn thing out of here." And this is one of the biggest names in the space. If I told you the name, you would definitely recognize this person.
So the moral of that story for me was to always mute up my microphone, right? Because you don't want your audience not hearing something or to hear something that you don't want them to hear that they shouldn't hear. And then the other thing is just simple, simple things like, forgetting to record. We spoke about that, forgetting to unfreeze my screen. So one of the biggest things for me was creating a checklist of what to do before I started the webinar. And I have this checklist on my desk, now it's committed to memory, but I would have this checklist on my desk. Unmute microphone. Don't forget to record, don't forget to unpause the screen. Don't forget to be engaging with the audience. Don't forget to ask questions, don't forget to position yourself, right? Don't forget to frame. Don't forget to let them know that you can see their questions. And again, let them know that there's no such thing as a dumb question. So having that checklist is very important because before I did not have that, it would be pretty much like the amateur hour.
Igor Kheifets: How about don't forget to go to the bathroom at least no later than 15 minutes before the webinar.
Ty Cohen: Oh man, that's a big one too because I'm always drinking water. I always keep a bottle or two of water on my desk. And if you've got a webinar that's gone along that could become an issue and it usually becomes an issue just as you're about to pitch and you're about to drop the link.
Igor Kheifets: Yeah, yeah. Trust me, I know. And one of the worst things for me is, and I already had the pleasure of doing it about four times is doing the webinar where you're sick, when your throat is soar. That kind of sucks, which I really hate doing. Okay. So let me ask you something else. So, and this is probably going to be the last question. What about, hypothetically, I'm not sure if that ever happened to you, but what if you do a webinar, you go for two hours and it bombs completely like you walk away with not having made a single sale? It's just pathetic. Okay. The worst experience ever. Like 200 people in attendance, not a single one decided to give you money. Right? So you feel rejected and you feel like a loser. Now, what are the things that you look at in order to change it? Improve it. Do you scrap it all together and build it? What is your modus operandi in this case?
Ty Cohen: Yeah, so the biggest thing is, and that's a very good question now, I like that. So what I'm always looking at are the questions, so I always, after a webinar, I'm always saving the questions, especially if you're using GoToWebinar or some of the other webinar platforms, you can go and you can look at that because then the questions that's going to give you the gold right there, it's going to really help you shape your webinar. It's going to help you to increase the conversions. I'm looking for objections. I'm looking for where people ... There might be spots in a webinar where people don't get what it is that I'm teaching, what I'm sharing with them, because if at any point they get lost and I think a lot of people miss this, if at any point they get lost, there's now a disconnect and it's hard to reconnect them.
It's like reestablishing a bad relationship, right? You break up with your boyfriend or your girlfriend. You guys have been separated for a year. It's kind of hard to go back and reestablish that connection. Right? So I think a lot of people screw that up and I even did that at the very beginning by trying to be too smart. So by trying to be the authority big time. So I recently promoted maybe last year a Crypto Webinar. Oh my God, this thing, the audience was engaged. They were just doing well. They were ready to buy and a guy simplified the entire process of crypto currency buying and how do you make money with crypto and how do you get in. And as soon as we got to the close, he turned into like professor acts, I mean he put on his Harvard hat and he just really started talking like an advanced language and you can kind of look at the audience, you could tell that they were starting to fall off.
You can literally see them disconnecting from the webinar because they couldn't understand what he was talking about, now when he was talking in layman's language at the very beginning of a webinar he had and he had them ready to buy. So you gotta be very careful, they always look at your questions that's going to help you big Time. I'll go back and I'll look at the questions and then I'll go back and revise my webinar. I've probably revised my webinar maybe about five or 600 times over the last eight years. And when I say revise, I'm not talking about ... You don't have to go back and change the whole thing up. It might just be one or two elements.
And again, you go back and you look at wherever it was, the disconnect, and if I'm talking about step two, I might say step two is now we're going to go over to Amazon, we're going to publish our book to Amazon and if I see in the questions box at that moment, at minute, two minute at the two hour, the two minute mark, people are asking, "Well, hey, you didn't cover how to do this, you just mentioned it, but how do you do this?" And then I see people dropping off. That's an indication to me that I need to go back into my presentation, revise it, and include a section that this is exactly how we upload our book and make it available on Amazon. So I hope that makes sense to everyone. That's the thing I know was a little bit long winded but your questions are our goal.
Igor Kheifets: Well it's because I've been doing it for a little bit, these are the questions I wanna know answers to, right? Because a lot of this stuff I had to figure out on my own, even though I studied courses, et cetera. But the issue with courses is like they can never really tune to your experience. Right? So yeah, I mean, when you say you you've tweaked your webinar 500 times, I believe you completely because unless four month or six months I'll be doing my webinar. I pretty much changed with every single time before the next presentation, be it, moving some parts, putting them in the beginning, set up the end, shortening my pitch, increasing my pitch, changing the process from a five step process to a three step process and like a million different things you can do with a webinar is just a living, breathing organism.
Ty Cohen: Yeah. And it becomes fun.
Igor Kheifets: It is, it is and truly when you recognize the power of a good webinar, once you've get nailed it, even if you only nailed it down like 60% and 100%, you still walk away with at least multiple six figures that year.
Ty Cohen: Yeah. Yeah. And that's the beauty of it. And the thing is, and I think we've all had that, right? Where you have an audience and you bomb, that's just an expensive learning lesson, as a matter of fact. It's a future ... I look at it as a future paycheck because it lets me know not to do that again, number one, whatever it was that I did, to get the low conversions and to go in and do something different. So remember at the very beginning I talked about if you continue to do the same thing, you're going to continue to get the same results. So now you know how to go in and change something else. And the late Jim Rohn, he said something that, I had heard a while back and it stuck with me. He said, whether you have five people in the audience or you have 500 people in the audience, you give them the same exact thing.
You do the same exact job. Meaning it's a good job, right? You knock them out their seats, you give them the best of the best. So that's something that over the years I've had to deal with as well because sometimes you get on a webinar, you see that there's only 10 people that are there and it's kind of deflating. You're like, "Oh my God, I gotta to go in and talk for the next 45 minutes or two hours or three hours and there's only five people on here." Right? But it's a way for you to go in and sharpen your sword. It's a way for you to go in and get that practice in and to get better so that when you do have 500 people on, you just knock it out the box.
Igor Kheifets: Yeah, and here's something that most people don't really think about, and you probably know this because you're super advanced when it comes to webinars, but even if you only have five people in the attendance, but you do a really good job and let's just say you close two of the five which comes down to 40% conversion, which you can do then as he you take what you've just presented and turn that into an automated webinar that looks like it's live. And run it automatically to a bigger audience later on. Publish it as a VSL, equate an on demand webinar presentation and create a leveraged way of delivering it. You create an asset. That's what people don't understand. It's not just about the sale that takes place on the webinar itself. The asset you get after you've conducted it creates more opportunities for you and the more assets like these you've got, the more opportunities as a marketer and as a business owner you will have moving forward.
Ty Cohen: Absolutely. Every single file becomes a new potential. Right? So it's like the sports, so I'm not really big into sports much, but one thing that I know is my sons play football and basketball. The coaches are always reviewing the video. They're always going back after a game. They'll have all of the players sit back and now review the video to find out where they could have been better on the offense, where they could have been better on the defense. Same thing with these webinar files. You get two people on, five people on and who knows, you might be at a totally comfortable space where you're just in the zone and it becomes hard to recreate that. So you're in the zone and you do extremely well. You've got a webinar that's converting extremely high on [inaudible 00:42:19] was a small amount of people on there. As Igor said, that now becomes your file.
I've got a few of those that I have uploaded into Stealth Seminar and they continue to make me money on autopilot week after week, after week.
Igor Kheifets: Yeah, and this is something we never got to talk to and we're probably not going to dive too deep into it, but let me just go ahead and ask you one last question. So what is your preference as far as the webinar software you're using? Because it's a common question I've been getting.
Ty Cohen: Yeah, for me personally, I like Stealth Seminar. I've just been used for a while and then I've tested. I kind of split test as much as I could. I got a joke or I would've split testing my wife but she would have killed me.
Igor Kheifets: That's a good one. I hope my wife doesn't hear this podcast.
Ty Cohen: Yeah. So we might have to edit that or else both of us will dead, so I like split test different elements to whether it's a copy, it's the PowerPoint presentation as the title. It might be of a price point, it might be of I'd be the color of the button, the registration button, it might be background of the registration page. And I actually split tested every webinar which is a very well-known platform out there. I split tested ClickFunnels and split tested Stealth Seminar. And I've done this two or three times over because sometimes you'll run a split test and the results are different if you do it six months down the line versus a year down the line or so.
A few different split tests and Stealth Seminar has always resulted in me seeing more overall net income as far as higher conversions for an Evergreen webinar. So that's what I use now is a Stealth and for our newest webinar, we're using EverWebinar, but we're going to soon be moving out over to Stealth.
Igor Kheifets: Interesting. I heard another friend of mine who got there pretty cool webinar about list building. He says that he split test at that and he's developing his own platform now, but he said the highest conversions by far he ever seen were GoToWebinar, for me-
Ty Cohen: Nice.
Igor Kheifets: ... For me, complete opposite, a webinar jam number one, go to webinar number two. I haven't done Stealth Webinar, but GoToWebinar I thought is going to convert better, but it didn't.
Ty Cohen: Yeah. See GoToWebinar, so now, if we talking about live versus Evergreen, if it's live, go to webinar always hands down, unless like I talked about earlier, we were talking about always recording and then using that better converting version for your EverWebinar, for your Evergreen version. But if it's a live, I can always put myself in Stealth and I can always get to the point where the energy is there so that I'm feeding off of the audience's energy and I'm letting them know, "Hey guys, I need your comments. I need your questions in a box because your energy is making me hype. I'm loving this. I'm actually planning on giving some extra stuff away just because you guys are so cool and so engaging and I feel like this is one big family." So if I'm doing it live, then yeah, the conversions are going to be much better.
If it's not live, then I think ... And there's no way of really knowing for certain. But I think that people can really ... We're humans. I think we can really feel the vibe. We can fill each other's vibrations, without getting a little bit woo, woo, to out there with it, I think there's something to be said when there's that human interaction, even if the interaction is not one on one. It might be someone's watching the webinar in Spain and I'm here in North Carolina, there's still something about that vibrational force that we connect with.
Igor Kheifets: This is interesting you brought this up, because what I've noticed that for some reason people are pissed off at me if they attend one of my webinars and they figure out it's an automated webinar. Now, as far as I'm concerned, I disagree completely. What do you care if it's automated or not? If I'm giving you the value I've promised to when I invited you on the webinar?
Ty Cohen: The information is same.
Igor Kheifets: You know what I mean? Yeah, exactly. And this person is really upset and I see then the chat. Because I'm monitoring the chat and this person's really upset and he's like, usually it's a he, some dickhead. He will type throughout the entire webinar-
Ty Cohen: Hold on, did you curse on his thing? I didn't know we could curse? I would have been a going nuts all along.
Igor Kheifets: Oh yeah, this is a PG 16 podcast, man. So, this guy writes for the whole webinar, does not pay attention to the content and instead it's like, oh it's automated. Oh no, it's crap. It's this, this, this and this, and it's like, so what? So what? You know what I would prefer for this to be automated because I can just not worry about having to engage the speaker. I know it's automated but we're going to get a recording later, whatever. So when it's automated or not, doesn't change the quality and the value of the content, but most importantly, when you cross to the other side of this equation and when you have your own webinar, you realize how exhausting it is to host more than one webinar [crosstalk 00:47:14]
Ty Cohen: Go ahead. I didn't mean to cut you off.
Igor Kheifets: Yeah, so what. What it meant was that one week I actually tried to do three webinars in a single week. This is really exhausting. Then it went down to do two a week and then I did the mistake of doing two weeks back to back where I did two each week, still extremely, extremely exhausting. So I know that my maximum now is having one webinar a week usually in the beginning of the week. Okay. And, if I was supposed to deliver every single webinar I've ever done live, I wouldn't be able to help as many people as I can right now.
Ty Cohen: Yeah. Dude. It was a period where ... So two things, the guy that's complaining in the questions box, before it used to hurt my feelings. Now I'm like, I don't want this guy as a customer. I don't want him as a customer because the same attitude that he has there is going to keep him from seeing any success. And because he's not seeing success, he's not putting any effort. who gets to blame? He's not the person that takes personal responsibility, he's the person that's going to say, oh, it's Igor's fault or it's Ty's fault.
He's not going to look and say, well, I chose to watch Friends or I chose to watch television or I chose to go and hang out instead of putting the effort and the time in. And then the other thing is the webinars, yeah, totally, totally exhausting. Dude, there was a time when I was doing three or four webinars a day.
Igor Kheifets: What? A day?
Ty Cohen: A day.
Igor Kheifets: A day, wow.
Ty Cohen: A day. It was insane. We were doing like 300 to $400,000 a month in sales and I was so miserable that I could care less about the freaking money. I eventually ended up being and two other guys, a guy by the name Kennith Krowl and a partner of mine and another business that I have, Tom [inaudible 00:48:59] to help present. But it was to a point where we would knock them out. We're doing a ton of money, but the money didn't matter to me because I was just so freaking like, just not fair because the webinar is just so exhausting and and it's kinda hard to figure, you're sitting down, you're just talking. How could that be exhausting? Until you do.
Igor Kheifets: Yeah. You know what? It's because the amount of focus and intensity it takes to deliver your message correctly because your audience is counting on you. That's really difficult. I mean the same thing as it's probably going to take both of us a lots of mental energy to deliver a great interview for this podcast to the same extent when you're presenting front of an audience, you still carry a lot of responsibility and you feel that and it is exhausting. After the webinar, I'm literally sweating bullets. I'm exhausted. I feel like I just ran a marathon for some reason even though I've been sitting or standing the whole time. So totally get where you're coming from. Anyway, Ty, look, we're running out of time way, way over the usual format actually, the usual format it's like 20 minutes.
We went way over, now I know we may have accidentally positioned you as a webinar consultant or something because we spoke about webinars and I'm pretty sure you don't do it. Am I wrong?
Ty Cohen: On occasion, I do, but that's like once or twice a year, so it depends on the individual and what's going on here.
Igor Kheifets: Okay. So we're not going to send people your way saying, "Hey, can you review my webinar?" Okay. But, if there was such a possibility, if there's anyone who actually has a webinar for you to review, if there's anyone who is a go getter and finally decided to create something, would there be a way for them to reach out to you and maybe consult you or hire you for some one on one work or maybe something. Maybe you have a group coaching program for webinars. I really don't know. We actually have a discussion before the show, but I really want to give you the prompts. I want to plug something, just so people know where to go and get more information from you.
Ty Cohen: And that's very cool. So here's something that I did, so a couple of months ago, I'm in a mastermind and a couple of guys that are in a mastermind, they said, "Hey Ty, can you share some of your best tips and tricks to webinar creation?" And I said, "Yeah, so here's what we could do. Not only will I share, but I'll get some other people." So I got Ron Douglas together and then I got Jason Bell and I got a couple of other folks that are doing really well with webinars together. And we had a webinar session. We put together this webinar blueprint and it's about two and a half, three hours long. So anyone that wants that, I'll definitely just for ... You won't see me do this anywhere else. As a matter of fact, I probably only shared with about four other people, but anyone that wants that send me a text, don't call me because I won't answer, but send me a text at area code 203 526 6031.
And just say, "Hey, listen, I heard you on Igor's podcast, you talked about your webinar blueprint. Would you mind sending me over a copy of a recording." And I'll send it over to you. I'll send you a Dropbox link or something like that under the condition that you keep it under your hat. You keep it to yourself. The late, not late, but Frank Kern said something like that to me one time. He shared something with me. He was like, "Keep it under your hat." And I had never heard of that phrase before and I've been using it left to right so.
Igor Kheifets: That's homeboy talk.
Ty Cohen: Yeah, keep it under my hat. What the hell does he mean? So if you keep it under your hat, I'll share the link with you and do some really cool golden nuggets. There's some stuff. And this thing that Alicia Little, I don't know if you know Alicia Little?
Igor Kheifets: Nop, nop.
Ty Cohen: Okay. So she does a lot of webinars as well and she shared some stuff on how you can use bots to automate your webinars and to get increased webinar registrations. And Ron Douglas shared some really cool stuff. I know you know, you [inaudible 00:52:58], I've done some stuff together and then some of the other guys that Ron here had shared some really cool stuff. So this thing is literally, I would say I really couldn't even put a value on it because if you have a webinar about toys that's valued at a 1000 bucks and you just use some of these methods and you get an extra 100 sales, that's 100,000 right there. So it's extremely valuable. So I'll send that over to you guys. Send me a text at 203 526 6031. And then you can also follow me on Facebook at Ty Cohen. So it's just T-Y C-O-H-E-N.
Igor Kheifets: Okay, I'll say something and I think you should be proud of it. You're the first person ever in the history of my podcast and we've been doing this for a little while now and I've had some pretty big names out there. You're the first 'guru' who shared his phone number publicly. Now, I'm not sure how many people actually listen to the episode because a lot of people kind of drop off the mail, but I'll tell you, guys, if you're one of the few who listened to the very end, you now have Ty Cohen's phone number. Can you believe it? It's just ridiculous. This is truly, truly unique opportunity. I'll definitely send Ty a text message if you forgot what the number is, just rewind back a little bit and figure it out.
And yeah, definitely. I'm totally looking forward to getting my hands to that mastermind for sure if it is all possible and I just want to say that I appreciate you breaking down a lot of the things about webinars on this call. And again, I know we didn't go into way too deep into the how to's of webinars, but it's really important for me for this episode was to sell people on the idea that they actually need one. Because I was resistant to this idea for years, years and years and years. And I thought whether those are just not for me, but you know what, I regret, I honestly to regret and my coach will hear this. Tom, this is for you, man.
I regret not listening to you, two years ago, three years ago when you first brought it up, so a webinar and a list can change your life. A list on its own changes your life, but a webinar and the list can just ... Puts you in a different dimension. Like most people have no idea a life like that can even exist for you. So Ty, thank you very much for dropping knowledge bombs about webinars. Guys, thank you so much for tuning into the podcast. So this is the List Building Lifestyle. This is Igor Kheifets. And until next time, we'll chat. Have a good one.
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