No business or individual can claim full immunity from rising energy costs and a slower economy. In fact, energy costs have impacted all of us, so much so that inflation is now at a multi-year high. Plus, the constant reports in the media about a slowing economy do very little to endorse growth initiatives, especially where small businesses, which typically have tighter budgetary controls, are involved.
In these economic periods, sales typically slow, and margins and productivity decrease. Sales slow because many businesses continue developing (or trying to develop) leads the way they used to. Worse, some businesses even reduce their development efforts. Margins decrease because expenses have increased. Productivity decreases as employees sit around, discouraged with their slowing results.
Instead of crawling into a cocoon and hoping to weather the economic storm, small businesses should face the elements head-on. Withdrawal is a fundamental mistake that only gets amplified for small businesses that can’t afford back-to-back months of little or no sales. This does not mean or suggest spending more and more on advertising. Rather, small businesses need to consider and weigh alternate marketing techniques. This is where the webinar solution comes up.
Involving web conferences in the marketing effort can return great results through two simple steps. The way Quote Stork Solutions interprets a May 2008 Ipsos survey is that web conferences are expected to increase 600% over the next five years. And while medium and large corporations are already taking advantage of this technology, small businesses who stand on the sidelines stand to see real and opportunity losses.
The first step involves direct-response marketing. Typically, larger competitors shy from this type of marketing effort despite the high return on investment (ROI). For the small business, however, direct-response marketing has proven to be a cost-effective way to reach hundreds and even thousands of prospects. And since it is a direct-response method, only interested prospects will respond.
The second step involves developing and presenting a valued-added sales pitch to interested parties via webinar or web conference. This is more than a “Why You Should Deal with Me” pitch. For example, an electrical contractor might present some of the common problems electrical encountered in the course of a typical renovation as well as some of the remedies taken to correct such problems.
By generating interest beforehand, the small businesses can avoid spending the resources they previously would have. In addition, only interested prospects will attend the web conference, meaning the small business is now dealing with a captive audience. This is a welcome change from the cold call audience that needed to be “sold.”
Finally, employing a web conference as part of your sales process is a win-win for everyone. For the small business owner looking to sell a product or service, a web conference allows mass selling to a group of interested parties; sure beats knocking on doors. And prospects are able to attend your web conference without leaving the comfort of their office or home, allowing them to save on time and travel as well.
The leader in the web conference market is GoToMeeting. This company offers a cost effective solution for all businesses. By using the link below, you can receive a Free Trial and enjoy the benefit of $10 off your first paid conference.
Author: J. Gregory ThomasThis author has published 1 articles so far.