The reason why the promotion of products presented by Inspired Marketing during their webinars was successful is in their suitability for people in multiple industrial sectors and, more specifically, their interests. In addition, the use of a proper strategy, which was the suggestion of topics for discussion, which are somehow related to the product the company was trying to sell in the end, was beneficial. In this way, any participant of these online meetings who followed the ideas of the company’s managers, which were presented during webinars, was likely to purchase the goods, which complied with their highlighted needs.
In other words, the increase in sales was conditional upon greater awareness of potential customers in the feasibility of the offer for their use in a professional setting. In turn, higher levels of comfort due to the lack of necessity to travel and spend money on the information contributed to a positive outcome.
The focus on the provision of information suitable for the audience and the consequent expectations to sell the products was an optimal solution. It eliminated the possibility of significant risks related to the customers’ refusal to pay more while accepting only free offers due to several reasons. First, the idea of webinars intended to increase sales allowed to reach more potential clients than during physical meetings, which means that profits will be either the same as in the latter case or even higher (Bell, 2019). Second, the engaging nature of online presentations explained the greater involvement of participants in the process compared to other means of selling products (Bell, 2019). Third, they promoted trust among managers and people attending them so that the latter did not question the authority of the company’s representatives in the matter (Bell, 2019). Thus, participants could listen for free and not buy anything, but their share was not high enough to make a difference.
Selling products during webinars or physical conferences are two different methods, and they have their benefits and drawbacks. The former is extremely useful when the target audience is diverse and cannot be covered during regular events, whereas it also implies the lack of clarity of people’s needs and the impossibility of predicting demand. In turn, the latter is advantageous for overcoming possible objections regarding the purchase while it is still limited by travel costs and other inconveniences.
From this perspective, innovative products cause many questions and should be sold during physical meetings, whereas those which are already known to the audience can be efficiently promoted online. As for technology, any changes in this field can modify the procedures of conducting webinars, whereas they remain insignificant for conferences since they are based on the emotional contact between sellers and buyers.
The examined initiatives, webinars and podcasts, are different due to their varying patterns of communication. Thus, the former implies enhanced interactions among the participants and the possibility of receiving feedback via questions. In turn, the latter does not provide an opportunity for discussing matters and, therefore, cannot be used for analyzing people’s responses to the presented materials. Therefore, the revenue-generated strategies in these cases and in general differ in their objectives. From the perspective of effectiveness, webinars seem more advantageous since they can serve as a source of information for further analysis. Nevertheless, they can be more time-consuming, and the outcomes can be less significant than the efforts of managers. These facts lead to the conclusion that one should carefully select an appropriate method in each individual situation.
Reference
Bell, P. (2019). Benefits of a webinar: Why your business should utilize them more often. MegaMeeting. Web.