Holiday

Few businesses today are immune to the effects of today’s higher travel expenses. Unfortunately, news of a slowing economy further compounds the problems faced by small businesses, particularly where business development comes into play.

In times like these, sales growth typically slows. In addition, margins lose steam and productivity also suffers. The reason for slower sales growth is a combination of emotion (fear-based) and a reluctance to try new approaches. Margins decrease because expenses, such as travel and transportation, increase. And productivity suffers because more employees are sitting around due to slower growth.

Instead of riding out an economic slowdown, small businesses need to tackle the situation head-on. Rather than reduce sales activities, they should increase them. But instead of increasing the same type of activities, small businesses need to think outside of the box. One such thought involves webinars, or web conferences.

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 thing small businesses need to do is initiate a direct-response marketing campaign. These types of campaigns, while not the marketing choice of larger competitors, yield high ROI. Whether or not the small business owner likes this method of marketing, the results are proven. Plus, with direct-response marketing, only interested prospects will take action.

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.

Through a direct-response campaign, the small business can reduce cash expenses needed to develop an attendee list. As well, since only interested prospects will show interest in attending your web conference, you are now speaking and selling to a captive audience rather having to complete a hard sale.

Lastly, using the webinar approach provides a win-win for both the small business (seller) and prospect (buyer). For the seller, the webinar option allows small businesses to pitch to a “roomfull” of interested prospects instead of pitching to each business individually. For the buyer, a webinar allows prospects to attend meetings remotely from their home or office.

The market leader here is GoToMeeting. They offer a comprehensive web conference solution for all business types. Plus, through the link below, you can enjoy a Free Trial and receive $10 off your first paid web conference.

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