Webinars are one of the best ways to give your customers more ‘bang for their buck’, so to speak. You’re simultaneously able to educate and convert a customer in one go, but you have to have an effective and engaging webinar to achieve that.
You may be selling a product that is $1,000 or $5,000 and trying to do so with a multi-step process over the course of 10, 15, or 30 days. You’re mailing them, contacting them, talking with them — and all with the sole purpose of finally achieving that sale after so much effort.
Webinars pose the unique ability to take a complete stranger and make them a converted customer while giving them real, educational information — all within a span of, say, 45 minutes.
So you’re sold on webinars – let’s get that out of the way. What’s next?
Really, it now boils down to breaking up your webinar into a type of funnel and analyzing each part of the webinar funnel to make it the most efficient conversion machine possible. Which brings us to the ‘webinar close’.
Many webinar hosts have a pitch, and then they offer their product. Sounds logical.
But you’re doing it wrong, and you’re missing out on a higher conversion rate because of this setup!
The ‘webinar close’ is what helps to clinch the deal. If you’re just pitching a product and hoping for the sale, then your numbers are likely reflecting what we’re saying here, which is that you’re going to suffer in conversions because of that setup. We use a ‘webinar close’ formula that has doubled our sales, and now we’re going to give you the step-by-step walkthrough so that you can integrate it into your webinars too!
Okay, so this part is actually going to be broken up along the way, but the general idea is that your pitch is integrated throughout the webinar in a non-intrusive way. Your pitch can be one of the following:
- Explicit: The host works their way into a specific product. In this transition, the host says so far we’ve discussed X Y and Z. Then, they do a quick recap of what they covered on the call, and they say do you find value in this? Somebody says yes, and that creates an opening for the host to offer a resource.
- Implicit: Here, the host never offers a specific product. Instead, the host leads the attendees through pointed questions aimed at having them implicitly deciding that they need a certain product in their life. The product is a logical answer as a bridge to the gap between idea and implementation for the attendee.
The barriers behind the success of one’s pitch are numerous, and the way the pitch is implemented is the key. For instance, opening with a pitch and hoping that the first go-round is successful is foolhardy.
Rarely will someone bite the first time a pitch is cast.
The first reveal of an offer is usually the weakest, so webinars that go with the setup of ‘pitch’ and ‘close’ find themselves with the lowest conversion rates. So here’s the setup every webinar presenter should be using if they really want to convert more attendees into customers.
Step 1: Pitch
You’re going to start with your pitch where you’re introducing some of the problems that attendees may be having as well as a soft intro into your product. You’re warming up your guests, so now is not the time to come off too strong.
Introduce Product X. What is Product X, exactly? Describe the core product and what they’re paying for in about 5-7 minutes.
Step 2: Introduce Bonuses
Your attendees are likely starting to get excited about your product, but that’s based off of logic alone at this point. Start introducing the bonuses of your product including what they’ll be getting with it.
Logically, they’re paying for is the whole package. The bonuses aren’t free, they’re part of the overall package, but by intentionally segmenting them and putting them separate after the price, we do two things. First of all, we build a price, and then we immediately spike the value again, so we put the focus not on price but back on value. The second thing is that you’re paying for the core offer and looking at everything you’re getting for free, right?
That’s an emotional psychological effect because when somebody feels like they’re getting something for free that they should be paying for, they get more excited about that concept than just about anything when it comes to a buying decision. Spend upwards of 12 minutes here at the bonuses.
Step 3: Pitch
Time to get back to your pitch. Here’s the fun part; they’ve got their guard down now. They feel like you’ve made your ‘offer’ when you discussed the bonuses. You’ve pitched your product, but now you’re getting back to the education and the value with no pressure. Continue the pitch in an unassuming manner, and you’ll start to gain a little more traction.
Step 4: Introduce Guarantee
What do you guarantee that your product can provide? Is it higher sales, more customers, or higher traffic? Give them a guarantee, no matter how small, to help them feel a little more secure in their idea to purchase your product. Your product may be able to yield results, but by guaranteeing those results, you’ve really perked their ears up!
Step 5: Pitch
Back to the pitch! Discuss those modules you started with. You’re working on a more subconscious level now because your attendees are likely less attuned to the fact that you’re actually pitching a product. They believe the offer has already been made, so keep chipping away at the problems/your solution.
Step 6: Introduce FAQs
At this point, your attendees likely have some questions. They’ve let their guard down and have absorbed a lot of the information you’ve been giving out. They’re thinking that they’re glad the pitch is over, and now they’ve got some questions. They don’t realize you’ve still got some closes left in you!
Step 7: Pitch
You’ve now developed a more personable relationship with your attendees, and they’re feeling like you’re working with them, not just pitching to them. So use this last pitch as the softest pitch you’ve got. You’re just gently nudging here, because you don’t want to destroy the relationship you’ve just spent upwards of almost an hour building.
Step 8: Introduce Scarcity
This is your last chance to push the point home, and you’re going to do it with a little tough love. You can start bringing out the big guns like saying that you only have a few more products left or that we’ve got a lot of people signed up and they already see the value in this. You’re saying, “If you are already thinking about saying yes, you should have already pushed the ‘add to cart’ button right now. If you haven’t, know that these bonuses or prices are limited time offers.”
Introduce the scarcity of your product at a certain price point, and it may just push the last attendees over the edge.
Your webinar close should follow a formula that intersperses your pitch with offers, bonuses, and other opportunities for attendees to say ‘yes’. Follow these 8 steps:
By the end, they will have had between 9 and 15 different chances to say ‘yes’, and you will have developed a relationship more conducive to the sale — all within a span of 45-60 minutes.
You tell us: Have you been successful with webinar sales? What have you done to convert more attendees?