You have been preparing your live, online video training session or webinar and now it's time to think about how you are going to market your goods and services. Many webinars follow the training part of the presentation with a promotional offer for their products. We're going to talk now about one simple marketing strategy that you can apply.
This tactic is called 'price drop'.
The price drop is accomplished by building the price of your product up by adding up the values of all of the materials, knowledge and benefits that your product contains.
For example, if your training video contains 10 hours of video and each hour of training is worth $100, then the total worth of the video is $1,000. Presenting your product in this way is called building your offer stack. Now that you have a high perceived value for your product you can drop the price. It can be more effective to have smaller, multiple price drops than a single large one. Tell your audience that your product, valued at $1,000 will be offered for the next month at a 50% discount. Now the price of your product is $500, already a huge savings. Then you thank your audience for attending your webinar and let them know that, for today only, they can purchase your product for $200. This will seem like an incredible bargain and should promote the successful sale of the product or service that you're selling. You, of course, had valued this as a $200 product all along, so you are not really discounting, just using an effective marketing tool.
If you have said that the price is going up to $500 dollars then you need to make the price increase. This will reward your webinar viewers and early buyers and make them want to come back and buy early again in order to get the best savings.
Starting with a high price and then reducing it is not an effective strategy for most of the kinds of goods and services offered by webinar. Discount sales work for large store chains, not smaller companies selling on the internet. Starting with a high price does not encourage people to take advantage of the price right away.
If you are looking for an effective way to promote your products and services at the end of your webinar, one of the best tactics is the price drop. Using this method you build the value of your product during the presentation. When you have established a high value you can then price drop, in stages, until you reach the sales price that you wish to sell at. This lets customers think they are getting a real bargain and it rewards your early shoppers.
Remember, you want people to buy early, so give them your best price at the end of the webinar and increase it later; don't start with a high price and then drop it.
Learn webinar marketing at: www.webinarcrusher.com
