Here’s a simple fact – 70%-80% of those who sign up for virtual events will do so in the 48-hours before it begins.

I don’t know if the numbers are the same for freemium virtual events (where your entry into the virtual event is your email), but I can report that this is true for premium virtual events (the one where you pay for access).

Many become disheartened when only 10 people sign up for their virtual event after 2 or 3 weeks of promoting. I’ve seen people cancel their virtual event due to “a low response.”

If only the virtual event organizer or host understood the dynamics of human nature, he or she would’ve stuck with it and not given up so easily.

In my experience, if 10 sign up for your virtual event before it starts, you can expect a flood of 40 people (or more) to register in the 2-day period BEFORE the first session begins on Day 1 of your virtual event (10 is 20% of 50).

Why do people wait until the last minute to register for virtual events? Let me first explain what really motivates people…

Here’s the reality – very few attendees are motivated by discounts, payment plans or a bonus coaching hour with the host and thus, attendees don’t take action early enough.

My clients have offered the following with their virtual events with average success…

• Substantial discounts to alumni (those who attended the year before get a 35% to 50% off coupon for the current year’s virtual summit)
• Multi-pays (pay one installment now, the rest in 30-days)
• Private coaching sessions (1-to-1 time with the host of the virtual event)
• Even access to books, online membership clubs or even the previous year’s virtual summit on CDs or a portable media player

And still, only a handful of people sign up during this pre-event period. Most people procrastinate and would even prefer to pay the full price with no payment plans than to take a risk and part with their money that early in the game.

At the end of the day, the only incentive that works for the majority of virtual event attendees (well, 80% of them) is when the first session will air live over the phone or online.

And when that deadline is just 48-hours away, people are ready to take action.

Panic! Chaos! Anxiety! The spiders are coming! Sign me up now!

That’s why offering your virtual sessions live is your best bet. Even if you pre-record your sessions with some or all of the speakers (that’s another blog post on best practices should you do this), play them back “live” at a certain day and time. Attendees like the accountability.

Here’s what’s also interesting…

Even if you send emails AFTER the live sessions start on Day 1 of your virtual summit, you’ll get a mediocre response. Not even the lure of live sessions on Day 2 or Day 3 will get people to register for your virtual event.

Sure, 1, 2 or 5 registrations may trickle in after the first live session on Day 1 of your virtual event, but the key is to get in front of prospects a day or two BEFORE the first live session starts to prompt them to take action.

Make it sound like the earth is coming to an end. Write your email as if they’ll be shamed publicly if they don’t sign up. The language of your emails in the 48-hour period before your virtual event begins can’t be flowery, apologetic or whiny.

For example, emails that start off with:

• “Sorry to bother you…”
• “Just a gentle reminder…”
• “Just making sure you’re seeing this…”

Will cause prospects on your list to ignore or delete your email. Some will even unsubscribe saying to themselves “What a bother. What a snooze. Off you go.”

That 48-hour window is your only chance to move people into taking action. And the action you want them to take is to register for your virtual event.

Here are some powerful emails that have worked for me in the past to help 70%-80% of attendees make a do or die decision to attend my virtual events:

• “Here’s what you’ll miss if you don’t register…” (this one is super powerful)
• “Your seat is not reserved and here’s why…” (As much as I want to say “You’re dumb for passing up on this unique opportunity,” I instead use this email to answer frequently asked questions about the virtual event)
• “The doors are closing…” (Kind of a Noah’s ark scenario which works quite nicely as well)

Coupons, discounts, even someone’s time are tangibles that can be measured. These, to the attendee, come and go. However, attending the first session on the first day is the experience that can’t be missed.

Whether this is the attendee’s first virtual summit or 10th, whether the recording will be available or not, registering in time to attend the first session on the first day LIVE is an experience that really can’t be missed.

And that’s what motivates 80% of attendees to wait until the last minute to sign up.

What say you?