Importance Of Rewarding Customers Who Take Action On Business Webinars

When conducting business webinars it is important that you promote the reasons why your listeners need to buy now. You need to create a reward system for customers who take action. Whether you are marketing online or marketing offline, whether you are marketing a service, marketing a physical product, or selling digital products, there must be a sense of urgency. There must also be a loss for those who do not buy now.

Scarcity is one of the best techniques for driving action. One way to create it on a webinar is to create a time limit offer such as "only available until 3:00pm tomorrow." Offering a time limit bonus is also a way you can do it. Both of these techniques create a reason why the prospect should buy now. Without them, the prospect will procrastinate on making a buying decision.

Another powerful technique to use on business webinars is limited supply. You can say "I only have 200 of these available." In order for this to work you need to have a compelling reason that makes sense. For instance saying "I can only sell 200 ebooks otherwise if I sell more my computer will overload" is silly.

If you are looking for ways to create limits on product quantity, here are two ways you can do this. Say you offer consulting services. You can limit the number of hours you offer because time is a limited resource. If you are offering a physical workshop, you can use the limited amount of seats. The place you are holding the workshop has limited capacity. If you are selling a product that has to be produced, you can create a limited first run, like only 100 so if they want to get in on that run, they have to buy now before you run out.

You can also use the effectiveness of the product itself to limit quantity. Many producers of information products use this by saying "I do not want this information to get into too many hands because it will reduce the effectiveness of the strategy working for us." This makes it exclusive in the mind of the prospect.

Another technique for increasing the amount of buyers on your business webinars is fear of loss. If you present a takeaway, you will convert serious prospects who may be on the fence. One way is to offer a fast action bonus. You can say "I will also send my XYZ program for free to the first 100 buyers."

The reason why you need to use sense of urgency and fear of loss is because this is the best way to motivate your prospects to buy now. While some people will buy just for the merits of your product others need a push, especially if there is a price paid for waiting. A common approach is to increase the price of the product after a certain amount of days on the market. Another approach that you can use is to take out parts of the product or even take the product off the market after a certain date. Whichever approach you prefer, you want to make sure it gets communicated to your potential prospects.

Live events are a great way to create scarcity. Business webinars can only support a certain amount of people. A live event location only has a certain amount of space. You can create an event out of anything if you really think about it.

Say you are celebrating your 11th anniversary. You can use that event as a promotion for your product. The promotion can consist of a sale of your product for 11 days. The 1st day has the lowest price and each day the price increases. Once the 11th day passes, the product is pulled from the market. This way your prospects have a daily sense of urgency and fear of loss to take action. Business webinars are an excellent way to communicate and implement this.

In conclusion, remember that you need to reward people who do business with you now. You need to penalize the ones that do not do business with you now so that if they are on the fence, they will decide to do business with you sooner.

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Copyright Stephen Beck, 2009

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Stephen Beck specializes in teaching families how to make profits online with online web conferencing. Go get his free online business information at http://www.WildlyWealthyWebinars.com so your family can begin using it right now.