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Using Sense of Urgency And Fear Of Loss On Business Webinars

Written by: Stephen Beck

Article Overview: 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.

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Using Sense of Urgency And Fear Of Loss 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.

One of the most powerful marketing concepts is scarcity. For example, when on a webinar, you can say "This offer will only be available until 12:00PM tomorrow." Or you can offer a bonus that will only be available for a certain amount of time. The key is that you must offer something to move them into action now. If there is no deadline, people will feel that they can buy whenever they want.
Another way you can create urgency on business webinars is by announcing a limited supply. If on the webinar you say "I am only taking the first 25 orders and that is it" people are going to order immediately if they want the product. You need to have a reason that makes sense. Otherwise you will not be taken seriously.
How can you limit supply with credibility? Say you offer an in person training program. You can say that you can only take a certain amount of students because your time is limited and you are still busy running your own business. Workshops can be limited by space limitations. Physical products can be limited by quantity limitations. Whatever you decide, the key is to make sure the reason for the limitations are credible ones.
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.
Another technique for increasing the amount of buyers on your business webinars is fear of loss. If you present a takeaway, you will convert serious prospects who may be on the fence. One way is to offer a fast action bonus. You can say "I will also send my XYZ program for free to the first 100 buyers."
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.
One technique some business owners use is the employer/employee event. The employer is "away on vacation" and the employees offer a special discount on the product for a set amount of time, which coincides with the return of the employer from vacation. Once the time passes, the special discount no longer applies. What this does is creates urgency and a fear of loss in the minds of your prospects. This event can even be promoted on business webinars that you host for your prospects.
The bottom line is if you want to maximize your conversion rates you need to implement plans to do so. By creating a sense of urgency and a fear of loss you motivate people who might have otherwise put it off to do business with you.

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Article Tags: amount of time, bonus, collapse, credibility, horizontal spacing, limited supply, listeners, marketing concepts, reward system, scarcity, sense of urgency, span style, style font, webinar, white space

About the Author: Stephen Beck
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My name is Stephen Beck, and I have been an entrepreneur for 30+ years.  My current passion is starting internet businesses.  I can show you internet marketing basics and how to make your first $1000 on the internet.  Get a FREE link to my webinar replay, where I explain everything you need to know to get started: http://www.YourOnlineBasics.com.

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