70: Final Numbers Revealed: The Engaging Early Learning Summit

Heather shares an in-depth look at the financial outcomes and experiences from hosting her first virtual summit – The Engaging Early Learning Summit.
While her goal was to hit 10,000 sign-ups, she ended up with 5,233 (and learned some valuable lessons along the way!). Hear what worked, what didn’t (like those tricky Facebook ads), and how she still managed to make a profit of $4,743.
Beyond the financials, she talks about the bigger wins, including collaborating with other business owners and gaining 3,000 new email subscribers.
If you’re thinking about hosting a summit to boost your own business, you’ll want to tune in for some real, honest insights!
Key Takeaways:
- (03:10) Summit goals and final outcomes
- (05:00) Revenue breakdown
- (08:10) Breakdown of expenses; Facebook ad losses
- (12:15) Benefits of running a summit
- (13:10) Post-summit membership launch
Episode 69: BTS of Running a Virtual Summit
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Turning a Challenging First Summit Into a Stepping Stone for Future Success
Growth often comes from stepping outside of comfort zones. In this episode, Heather takes listeners behind the scenes of her very first summit, revealing the numbers, lessons, and future plans that arose from this ambitious venture.
If you’re a teacher-turned-entrepreneur or anyone interested in the details behind running online summits, this episode is a must-listen.
Setting High Goals and Embracing Realities
Heather set ambitious goals for her “Engaging Early Learning Summit,” aiming for 10,000 registrants and a stretch goal of 20,000. Although she ended up with 5,233 registrants, about half of her initial target, she remained optimistic.
This mindset is a powerful lesson for anyone in business: setting high goals can drive better results, even if the end numbers don’t match your aspirations.
Heather’s moonshot approach yielded substantial rewards, including new leads and real business opportunities, emphasizing that the journey and the lessons learned can be just as valuable as hitting the exact numbers.
Financial Transparency: The Numbers Breakdown
Heather didn’t shy away from the nitty-gritty financial details, providing a transparent account of her summit’s income and expenses:
- Revenue: Heather’s summit generated $14,682 from VIP pass sales and an additional $705 from an upsell bundle, bringing the total revenue to $15,387.
- Expenses: The leading expenses included $4,793 for Facebook ads, $2,716 for tech and design support, and $2,035.80 in affiliate commissions. Including over $1,000 in prizes, the total expenses came to $9,544.
After subtracting these expenses from the revenue, Heather was left with a net profit of $4,743. While this might seem modest given the extensive work, Heather recognizes the broader benefits such as increased exposure, new leads, and valuable experience.
Discussing these figures demystifies the financial realities of running an online summit.
Facets of Success Beyond Numbers
Despite the direct profit being modest, Heather underscores several immeasurable benefits that emerged from her summit:
- Extended Reach and Collaboration: Partnering with various speakers allowed Heather to put her business in front of new audiences and establish valuable professional relationships.
- Engaging the Audience: The summit bolstered her engagement with her existing community, serving and warming them up for future offerings.
- Building Expertise: Heather highlighted the importance of learning and adapting, noting how this experience would inform her future summits.
The Role of Facebook Ads and Lessons Learned
A significant portion of Heather’s expenses came from Facebook ads, which didn’t perform as expected.
Unlike other promotional tactics that worked smoothly, the ads were a challenge and led to a considerable loss of $4,793.
Heather reflects on this as a learning opportunity, stressing the importance of thorough testing and preparation for future ad campaigns.
Her experience serves as a valuable lesson for anyone relying on ads: always have a backup plan and be ready to pivot if things don’t go as expected.
The Power of a Summit in Lead Generation
Heather’s summit brought in about 3,000 new leads, a figure she emphasizes as a major win.
These new subscribers are highly valuable as they represent potential future customers for her membership programs and other offerings.
While the direct financial gain was modest, the acquisition of these new leads and the strengthening of her email list were invaluable benefits that lay the foundation for long-term growth.
Seamless Transition to Membership Launch
The timing of Heather’s summit was strategic, serving as a prelaunch to her “Kindergarten Ready Club” membership program.
By engaging attendees and fostering warmth and trust during the summit, she set the stage for a successful membership launch.
Her approach underlines the importance of strategic timing and sequencing in business activities.
Whether you’re contemplating your own summit or looking for ways to expand your business, Heather’s experience offers invaluable lessons in resilience, adaptability, and the pursuit of growth.