For many people the purpose of preparing a webinar is to use it as a marketing tool. When you are running an online sales presentation to promote your product you are going to want to end your webinar with an offer.
There are two basics ways that you can attempt to add value to your product in the minds of consumers.
The first is the ‘price drop’, where you start your product at a high price and then lower the price of the product.
The second is the ‘offer stack’, where you present your product in stages, giving each stage a value. Then, when you have established a high cumulative value using this ‘offer stack’, you can reduce the price.
Price drop is the favorite marketing technique of the ‘big box’ chains of stores like Wal-Mart. They start with a price that is relatively high and then slash the prices accompanied by heavy advertising. Price drop works for these chains because they buy large volumes of product at a discounted wholesale price and they are in a position to move many, many units. Therefore, they only need to make a very small profit on each unit of product. Unless you plan to have the sales volume of an operation like Wal-Mart, the next option will be better for you.
The offer stack is a marketing and sales technique that builds your product up by valuing each part of it so that you end up with a high value for the product. It can then be offered at a lower price and it seems like a bargain.
Let’s imagine that your company makes ‘widgets.” You have eight kinds of widgets and each widget is designed to do a different and useful function. During your webinar you describe each widget and it’s usefulness to your audience and give it a value; let’s say $100. As you introduce each widget you are ‘stacking’ a layer in your offer stack. At the end of your webinar you provide the price for the package of eight widgets; $200. This seems like an incredible value to your audience because you have built the value of the product up to $800 ($100 per widget) in their minds.
This technique also works very well for promoting items that do not have built-in, intrinsic value. Educational and training courses, how-to materials and make- money-on-the-web courses are all examples of these. By stacking the value of what people will learn; and be able to earn from what they learn; you can create a very high offer stack price. Then when you present them with the cost of the product at the end of the webinar they will be under the impression that they are getting a real bargain. That’s how you make sales.
Let’s summarize the material that we’ve just covered.
There are two basic ways of making customers think that they are getting a bargain and make them eager to buy a product.
The first is the price drop. It is used by large store chains and is not very effective for small vendors or people selling items without an intrinsic value.
The second technique is the offer stack. This works by adding value to your product during the course of your webinar. You tell your audience what the value of each part of your product is worth, building your offer stack. At the end of your webinar you offer the product at a much lower price than the offer stack. Your audience will believe that they are being offered a bargain and should be motivated to purchase your product.