In this forth phase in our webinar blog series on how to create a winning webinar we will address the sales pitch and close, plus strategies the webinar experts recommend to close more sales.
The topics we've addressed so far in this blog series are:
Making a sales offer during a webinar is a subject that many webinar presenters struggle with. For some it's simply because they find it challenging to make a smooth transition from teaching on the webinar to making a sales offer. For others, it's the discomfort and worry of what the audience might think if they try to sell on a webinar.
The 5 Step Formula to Close More Sales
There are a multitude of ways to making an offer on a live webinar. However there's a simple 5 step formula to position your offer to maximise sales.
1. Maximise The Number of Attendees That Stay To The End
Since your sales pitch and offer is at the end of your webinar presentation, it stands to reason that you need as many attendees as possible to stay until the end otherwise they won't hear what you have to offer.
The challenge is that there is a natural attrition rate of attendees dropping off a webinar. So expect and anticipate this happening by encouraging people to stay on the webinar until the end. Lets look at a few ways how you can achieve this.
Five Simple Strategies to Keep Attendees On To The End of The Webinar
Here are 5 simple strategies that you can deploy on your next webinar to get attendees to stick around to the end of the webinar.
(i) The Open Loop Strategy
Use the open loop technique as mentioned in our previous blog post on getting more engagement and interaction. This is where you tell your attendees during the delivery of your main content of what is coming up next and that they won't want to miss that.
Anik Singal and other webinar experts repeatedly use this open loop technique to keep people on a webinar for as long as possible. The goal is to keep attendees on long enough to hear the webinar offer.
(ii) Entice Your Audience With an Ethical Bribe
Use sweepstakes, simple contests or bonuses on your webinar to offer giveaways and prizes to your attendees. However, make it clear that they will need to remain to the end of the webinar when you will be announcing the winner(s). This will help to encourage attendees to stick around until the end.
(iii) Your Q & A Session
Let your audience know that there will be a dedicated Q&A session to answer everybody's questions. This will help to keep those attendees on the webinar who have burning questions they would like answered, or those who are simply interested in learning more from the answers given during the Q & A.
Anik Singal cautions not to underestimate the value of Q&As. He says that Q&As can go on for more than an hour. Fifty percent or more of your audience may still be on the webinar at the end of the Q&A and could lead to an additional 25% of webinar sales.
Anik explains that not everyone buys at the time of the offer as some need time to think about it and to listen or ask questions during the Q&A to convince themselves that they're making the right choice.
(iv) Keep Your Audience Engaged
Bored or disengaged attendees leave the webinar early. To prevent this make sure to deploy the strategies and tactics we talked about in our last blog post on webinar engagement. As Mike Koeneng once said "“keep your attendees’ eyes, ears and fingers busy. As long as you do that, people feel engaged".
(v) Hold Back On Your Best Content For Last
This is a strategy that John Hutchinson uses to get attendee to stick around. By letting attendees know what's coming up and by reminding the audience that you still have some killer content to share with them, perhaps inject some intrigue and how this content can help them, creates interest and excitement and a keenness to stick around.
2. Offer Irresistible & Congruent Bonuses
Put together some bonuses that are so good and so irresistible that people buy your offer just to get access to your bonus(es).
However, make sure that the bonus is congruent with your main offer and ideally be structured to overcome any objections to your main offer. For example, if your offer is a course on how to set up an ecommerce business, your bonus might be a rolodex or concierge service to help search and identity tried and tested quality product manufacturers.
Another good bonus might be free access to software that makes it easier and quicker to search for potential hot selling products. Each of these bonus examples are designed to overcome a potential objection to your main webinar offer.
A good exercise is to write down the top five objections customers in your niche have with your product and then structure your bonuses to address those objections.
3. Use Urgency and Scarcity
Make one or all your bonuses limited to a set number of purchases or on the expiry of a countdown timer that counts down during your webinar. You may also offer a significant discount on your main offer as a special one-off webinar deal. The countdown timer is an approach that Brendon Burchard uses as it gives him an excuse to remind the attendees that they only have x number of minutes to pick up the special webinar offer.
A countdown timer can be very persuasive and act as a reminder to attendees that they need to act quickly or they will lose out on the special webinar offer. The fear of loss can be a strong motivator.
4. Stayed Focused On The Benefits Of Your Offer
Anik Singal explained it best when he said "Don't sell the steak, sell the sizzle". In other words don't sell them on the simple features but sell your audience on the benefits of what your main offer can give them and how that will make them feel and how their life will look with the benefit they will get from your main offer.
5. Prepare Your Payment Page
Set up your buy now page that clearly breaks down the value of your offer. If you use webinarJam for your webinars exploit its user-friendly clickable "Buy Now" buttons that attendees can click on right inside the webinar window that automatically opens attendees' web browsers and takes them to the payment page.
Webinar Experts Share Strategies To Close More Webinar Sales
Heritage House Publishing's CEO, Alex Mandossian gives sound practical advice when he commented:
"Begin with the end in mind" and you will increase your conversions. You want to start your close from the beginning of the webinar. That requires planning so you can shape your webinar as you go along and seed it as you work your way through the presentation. By doing that you're not suddenly throwing cold water on them at the end with your close but instead seamlessly arriving at your close naturally and your attendees will be more open to what you have to offer."
It goes without saying, it's never a good idea to just spring on your audience the surprise that you want to make them an offer. "Begin with the end in mind". Seeding your audience early on that with their permission you would like to offer them something that you believe can help them solve their big problem.
If you over deliver on the content and make a seamless transition to your offer, you won't ruffle any feathers with your audience.
Jeremiah Desmarais provides an example of how he articulates the fact that he will be making an offer.
"Be transparent with your attendees that you want to make them an offer at the end. You could say something like "I want to make a promise to you. I promise to give you my absolute best idea today that will solve this specific challenge you're having right now. If I do that, do I have your permission to make an offer at the end of the webinar?" 90% will say yes if you give enough value. Then when it comes time to make your offer, you can ask "have I earned permission to make an offer to you?" Your attendees will find this transparent approach refreshing and are less likely to feel that you have tricked them to a webinar in order to sell them on your program."
How you transition from content delivery to your sales pitch is important. Many webinar presenters mess this part up. Brendon Burchard advises as follows:
"The offer should show them how you're going to delve much deeper into what you just taught them, even provide them with tools and best practices that will help them to implement much easier, faster and better than if they tried to do it alone."
What attendee can refuse an offer to delve deeper, provide tools and best practices that will make it even easier, faster and better than doing it alone? You're implicitly telling the audience "if you liked what I shared with you, there's a lot more which will make it even easier and faster for you to solve your big obstacles or any challenges you face.
Stacking The Value of Your Webinar Bonuses
Clickfunnel's owner Russell Brunson likes to use Armand Morin's stacking the value approach to his bonuses rather than simply stating what the price is.
Each bonus is broken down and given a value. The approach goes something like this.
You say, "here's the offer" then you talk about what's in your offer. Then when you cover your bonus, you say "here's the first bonus" and you give it a value. You can then follow on with "so that means that you're going to get this and this, which is worth this".
You can then go on to explain the second bonus and its value and then break down everything they are getting from the main offer right down to the bonuses, which you then explain has a total real world value of x. That's called stacking the price, which you can do with each and every bonus.
The Pricing Decoy
The pricing decoy is a tactic used by some magazines. It goes something like this. A magazine subscription for an online version may cost $39. The print version may cost $59.00, or the print and online version may also cost $59.00.
According to Jeremiah Desmarais it's a strategy used in the magazine industry that has increased conversions by as much as 69 percent. Desmariah claims to have seen an increase of as much as 109% when used in his webinars i.e. offering a third option at the same price as the second option.
In closing, CEO of Disruptasaurus, Mike Koenigs, has this practical advice to give on getting more attendees to buy from you.
To boost conversions during your webinar you need to get your audience to visualise and feel themselves actually using your product. You need to get the audience in a space where they cannot only imagine themselves using your product but they can also imagine the results of whatever that product will deliver.
When your bonuses are structured to overcome any objections, the bonus offer deals with objections, which means you as the presenter can simply concentrate on what you can do with the product.
In our final install on how to create successful webinars we're going to cover yet more effective strategies that you can deploy after the webinar has finished to get more sales... so stay tuned.
Until then please share, Google plus or Like our post if you found it helpful.