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.

Creating a sense of urgency by using scarcity is one way. If you are hosting a webinar you can do this buy saying “this offer is only available until 11:59 tomorrow evening.” By utilizing a time limit, the people who are in position to buy but are holding off will be motivated to buy. Without utilizing a time limit, they might never buy from you even though they want to.

You can also drive prospects to take action on your business webinars by limiting supply. If you say “There are only 150 copies of this item,” people know there is a risk you might run out. Make sure the reason you limit copies makes sense. Saying “only 150 copies because I feel like it” will not work.

As for how you can limit quality with credibility, there are several strategies you can employ. Take for instance personal coaching. You can use time restrictions to limit your availability. As for seminars, the amount of space available allows you to set limits on the number of seats sold. If you are dealing with a physical product, you have to produce a certain amount of copies so you can leverage that to your advantage. This way your prospects will understand why availability is limited.

Another quantity technique, like for market trading products, is “I am only going to put out 100 because I need to limit the impact on the market. If everyone gets access to these strategies it will hurt us all.” This way you can use market impact as an excuse to limit quantity to increase urgency in the sales process.

The previous techniques deal with sense of urgency but using fear of loss on business webinars is also important. By presenting a potential loss in the mind of your prospect, this can be a powerful motivator for taking action. For instance, if you say “free shipping to the first 50 buyers,” this will motivate some people on the fence to take action.

Considering these scenarios, you should have a greater understanding why you need to drive your prospects to take action now. To really increase your conversions, you should also include a penalty if they do not buy now. One of the easiest penalties to implement is a price increase after a certain period of time. Another strategy is you can simply take the product off the market or take parts of it off the market. Whatever you do, the key is to identify the penalty and communicate it to your prospective customers clearly.

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 teaches families how to make profits with an online webinar.  Go get his free online business information at http://www.WildlyWealthyWebinars.com so your family can start using his tips right away.