Webinars – What’s the Attraction?

I Googled the word “webinars” the other day and came up with 8,270,000 results.  What in the world are all of these webinars about?  Who’s going to these and why?  I was fascinated and decided to dig a little deeper.

While most of the webinars I looked at were high-tech related, there are an increasing number of different industries using webinars as a way to reach their audiences.  So, in a very unscientific study, I tried different key words with webinar, just to see what would come up.  Here are some selected results:

• Plastic Surgery Webinars:  88,500 results
• Real Estate Webinars: 386,000 results
• Retirement Webinars:  144,000 results
• Finance Webinars: 399,000 results
• Construction Webinars: 325,000 results
• Gardening Webinars:  366,000 results

 Well, it seems there are webinars out there for almost any interest.  Keep in mind that the number of results in no way represents the number of webinars.  For example the entry “love webinars” brings back 262,000 results.  However, many of them include terms such as “I love webinars”, so take all results with a grain of salt.  Still, I can’t help thinking that webinars as a means of communicating with a far-reaching audience is spreading across category boundaries. 

What are the characteristics of webinars that make them so appealing to such a broad population of users?

• They’re convenient.  One can log into a webinar from the privacy of their office and instantly be connected to a group of like-minded individuals ready to listen to an expert in their field – all without travel expenses.
• They’re informative.  While webinar registration might be open to all, it’s always still feels like I’m getting the “inside scoop” by attending a well designed webinar with a title that promises information that appeals to me.
• They can be both anonymous and participatory at the attendee’s discretion.  Sometimes it pays to just silently listen.  Other times you may wish to jump in and ask questions or enter into a discussion while you have an expert on hand.
• They’re easy to attend (and to exit).  The latest webinar software has made it quite painless to attend and leaving is as easy as hanging up.
• They’re revealing. Thinking of purchasing something from a vendor?  It pays to attend a webinar to see what they’re all about.  While many webinars are scripted (some terribly overly scripted), most of the time the speaker’s true personality and that of the company is bound to come out.  I actually think the Q&A portion of most webinars is the most revealing.

 In all fairness, is there a down side to webinars?  Well, yes there is.  Since no good things in life are free, you will no doubt be the recipient of at minimum an email inquiry or perhaps a phone call from the sponsoring vendor of the webinar attempting to gauge your interest in their product.  In my opinion, this is a small price to pay if you’ve gained some valuable knowledge from the event.

In my final search of unique webinars, I happened to be watching TV when an ad for a new kind of mop came on.  On a lark I googled “mop webinars” and sure enough, there are webinars given to explain the many benefits of a certain type of mop.  My mop search garnered over 2,700 results, but come to find that MOP is an acronym for many different things besides what you drag across your kitchen floor (Meta Object Protocol, Millionaire On Paper, My Own Prison).  However, I can verify that at least one of the webinars was about the floor variety.

Do you have an interesting story about an unusual webinar topic?  I’d love to hear about it.

Presenting Technology to a Business Audience

I’ve often worked with technology professionals who have been called upon to participate in business-orientated webinars.  I frequently am impressed by not only their innovation and capabilities, but the passion with which they convey their developed services.  However, as any technology marketer knows, it’s a long leap from a deeply technical presentation to one that can be easily digested by a business audience.  I’m loath to use the term “dumb-down”, but I’ve heard that phase applied many times to this situation.  I prefer to use the term “cross-convert” to refer to transforming a technical presentation for the business audience (frequently the buyers and decision makers for the service).

Previously, I would start the process by asking the tech person to create a draft presentation, usually from a multitude of slides they had previously developed.  Then we would work to whittle the slide deck down as well as the voluminous content on each slide.  After a few painful experiences using this method, I’ve found it’s more productive to engage in a discussion first with the tech presenter prior to producing a single slide.  Points for this discussion are as follows:

•  Understand the Target Audience:   This is the first step in gaining an appreciation for the level of detail to be presented.  It helps to discuss the prospect’s business, their challenges and the pain points they might be experiencing.
•  Focus on the Benefit to the Client:  While it’s wonderful to create ‘cool’ technology and I am the first to appreciate elegantly written code, it’s the perceived benefits that will drive the client to a purchase decision.
•  Remember the Primary Goal of the Presentation:   Before beginning any webinar preparation, I always determine with the client the primary goal of the event.  In other words, after the webinar, what is the one thing you want the audience to carry away in their heads?  Communicating this to the tech presenter is key to helping them understand the mission at hand and how that translates to their presentation.  I challenge them on every slide to understand how that slide contributes to our primary goal.
• Outline the Presentation:  It’s tempting to place slide after slide with capabilities in a presentation, but a presentation is like a story – it needs a beginning that builds tension, a body with the majority of content and a big finish.  Putting together an outline with the tech presenter will make a smooth transition to a finished product.
•  Use Graphics and Text Wisely:  Typically technology presentations have one of two flavors:  large complex diagrams or long lists of bullets with very small text.  Neither of these bode well for a business oriented presentation.  Explaining the role of well chosen supporting graphics with the spoken word filling in the details will ensure a quality presentation.
•  Apply Effective Speaking Techniques:  It doesn’t matter if you’re on the technology or the business side, speaking in general can be unnerving.  Speaking online can be especially stressful, so it’s best to be prepared using some simple speaking techniques.  (See Chocolate Vine white paper entitled “Into the Void:  Techniques for Speaking to an Online Audience” at http://www.chocolatevine.com/Webinar_Resources.html for more information.)
• Handle Q&A with Confidence:  Once the presentation is complete, the webinar is not over.  I find it useful for everyone to set some simple guidelines ahead of time around the Q&A portion of the webinar.  Topics include what should and should not be said about the company’s revenue goals/progress, new product plans, expansions (or reductions) and other sensitive items.  Additionally, for a tech presenter, it’s especially important for everyone to understand what constitutes the “secret sauce” that should not be revealed about the technology during the webinar.

 Once armed with this orientation, the tech presenter usually has a firmer handle on the level of detail to provide and a more confident approach to the webinar in general.  It also helps to review the attendee list with the tech presenter ahead of time to fully appreciate the titles/departments that will be represented at the event.  Most business buyers of technology services want to understand the mechanisms behind the scene, but only in a way that reinforces that their pain points will be relieved after they start to use it.

Webinars – Don’t Let Them Stand Alone

I meet marketing executives at B2B companies all the time who want to increase lead generation by trying webinars as a new approach, but only wish to put their toe in the water with a single, stand-alone event.  After all, depending on the promotion venues and hired speakers, webinars can carry a relatively healthy price tag and they’re not as sure of the ROI as they are for say, direct mail or email campaigns, for example. 

While I wouldn’t suggest that they start with both barrels blasting with a monthly webinar series, I initially propose looking at their marketing calendar for the next six months to see where webinars may fit as an integrated part of their planned campaigns.  As someone who believes that B2B sales happen over a period of several months building trust with a prospect, I think webinars are the perfect venue for showcasing expertise and thought leadership.  Integrated with a company’s overall marketing plans, webinars can give companies an opportunity to ‘show off’ their intellectual knowledge and expert staff.

When looking at a marketing plan and deciding where to place webinars, here are some things I look for:

• Product Launches:  Hosting a webinar around the problem your new product is designed to solve is an excellent webinar draw.  I don’t believe it’s ever a good idea to blatantly promote a new product, especially in a webinar title and description.  This is a turn-off to prospects and you will not garner the attendance you desire.  Instead, focus your webinar content on the industry, the problem at hand and, if possible, a neutral outside expert.
• Capability Promotions:  When I was running marketing departments between product launches we would design campaigns that focused on our company’s key differentiators.  If, for example, your service has an especially interesting security aspect to it, an integrated campaign on that topic with a webinar as part of the promotion will draw attention.
• Vertical Campaigns:  Taking a vertical marketing approach for a specific campaign is an excellent way to integrate webinars into your plans.  The more targeted you can get in your audience, the more successful the webinar will be.  Once you decide on the vertical you can investigate sponsored newsletters, trade shows and events, blogs, social networks and local meet-ups as venues for spreading the word on your upcoming webinar.
• Industry events:  Do you have a major industry trade show or event on the schedule?  Use that venue to tell your prospects about a webinar specifically related to the topic of the event.
• Regulatory changes:  If your target prospects are facing new regulatory requirements, chances are it’s top of mind to them.  Using this as a webinar topic will no doubt bring attendees.  However, be sure that your company has a valued perspective or information to enhance your prospect’s understanding of the regulatory implementation.
• Major Analyst Reports:  Some reports are scheduled to appear annually, such as the Gartner Research Magic Quadrant reports.  If you’ve been working to gain great positioning, then put a webinar on the schedule for report time. Of course, wait until the report is published to understand where you’ve placed.  You can structure your webinar topic around the theme of the report and offer a copy to participants (usually you must purchased this from the analyst service).
• Channel/Partnering programs:  If your company has a partnering program, an excellent way to increase attendance and interest is to also partner on a webinar.  You can each leverage each other’s opt-in mail lists, create a broader, more appealing topic and share the cost of the webinar.  It’s a win-win for both parties.

Once a couple of webinars have been run successfully, it doesn’t take long for clients to realize how valuable these are in attracting the right prospects.  From there, they are typically off and running coming up with new ideas for additional webinars and ways to cross promote with other marketing campaigns.  Pay attention, however, to how often you promote your webinar programs to your in-house email lists.  Like all marketing touches to your prospects, it pays to be respectful of the number of touches your make on webinar invitations as well.

Do you have any ideas for ways to integrate webinars into your marketing programs?  I’d love to hear about them.

Social Networks for B2B Companies – A Beginner’s Plan

If you haven’t already made social networks part of your 2008 plan, it’s understandable.  Confusion reigns on how to use these venues for B2B business advantage.  However, I’m sure you’re experiencing a nagging feeling that you’re missing the boat somehow and the rest of the business world, including your competition, is out there making fast and furious work of social networks.  First, there are two questions you ask about how your company will use social networks:

•  What can I hope to gain from participation in social networks now?  It pays to be realistic about the potential for business impact using social networking in its current state.  If you hope to use it as a major lead generating mechanism, I’m afraid you’ll be disappointed.  Social networks can currently be used to connect with constituents and colleagues, collect valuable client feedback and establish a rapport with your buying community.
• Which ones?  There are a dizzying array of social networks springing up, some more general business and others dedicated to specific audiences.  The answer lies in the service you’re offering and the target audience you’re attempting to reach.  For business, I’m partial to Linkedin, but am hearing so much buzz around Facebook becoming more business-friendly that I think it’s worth checking out. (Gaining personal information about a prospect with whom you are about to meet is a definite advantage to Facebook.)  If, however, your products/services are geared to a very specific audience, I would recommend finding the most trafficked networks for that community.  Here are just some samples of social networks that I’ve come across and their associated participants:

• Information technology:  http://www.ittoolbox.com
• General business: http://www.xing.com/ , http://www.linkedin.com/ , http://www.jigsaw.com/ , http://www.facebook.com/ , http://www.viadeo.com/en/connexion/
•  Marketing b2b community:  http://www.beetoobee.com/
•  Health Care:  http://www.dailystrength.org , http://www.patientslikeme.com , http://www.sermo.com/ , http://www.organizedwisdom.com/Home , http://www.revolutionhealth.com/ , http://www.sermo.com/
•  Finance:  http://community.dynamics.com/ (sponsored by Microsoft), https://www.cakefinancial.com/app/pubHello.do   

Once you’ve chosen the right social network for your business and buying community, here are some actions I’d recommend taking now to leverage your participation.  These are relatively low in resource consumption, but will allow you to test the social network waters with an appropriate amount of effort.

1.  Listen to your constituency: If there are groups already dedicated to your particular product area, assign someone in your organization to read postings, engage with readers and really understand the needs of your target prospects.  As with all interactions with prospects and clients online (including personal blogging and blog responses), I would recommend producing a company communications guideline that outlines acceptable behaviors, such as no discussion of products in development, no competitor bashing, no discussion of revenue plans/goal, etc.
2. Challenge your management team: Social networks are all about connections between individuals.  Let’s face it – B2B sales are all about relationship building with your prospects.  It’s a natural fit, but sometimes cumbersome to execute on a grand scale.  Here’s an idea to put the two together.  First, challenge your management team and Board of Directors (if you have that type of relationship with your BOD) to complete their profiles (I recommend starting on Linkedin).  Second, ask sales to create a Top 50 list of prospects that they’ve been trying to penetrate.  Finally, review the list in light of their new connections to find any opportunities for introduction.  It’s amazing how many 2^nd level introductions can be accomplished if the effort is made.
3.  Sponsor a group:  Companies are beginning to sponsor groups with their company names to engage customers and prospects in an open dialog.  Yes, it’s risky.  Someone may enter an uncomplimentary posting to which you will have to respond.  However, the benefits of hearing what your clients have to say directly should outweigh the risks.  Just be sure to have a mature (read:  someone not likely to fly off the handle and who is familiar with company’s public relations messaging) person be responsible for monitoring and responding.  Once you’ve established this trusted forum, you can use it to garner new product ideas, announce product enhancements, promote company events such as webinars, local meet-ups and trade shows, launch new products or use as a recruiting tool for the company.  Don’t forget to market the group’s existence across other venues, such as on your web site, at customer events, and in company literature.
4.  Answer questions in your category:  Make sure that your company is known as an expert in your field.  This might require time and effort on the part of your engineering staff or product managers to produce quality responses that jive with the company message.
5.  Ask questions in your category: Want to know what your audience would like to see in new products?  Ask them!  Along with more structured surveys and focus groups you might be conducting, social networks might yield some surprising results for product enhancements.
6.  Learn about the competition:  In the same way that social networks are an open forum for discussion, they are as well an open book for information.  Take advantage of this and assign someone to perform regular competitive analysis. 

I hope these suggestions are helpful.  They represent a minimal effort, but potentially a big cultural shift for your organization, so don’t forget to garner buy-in at all levels prior to launch.  Establishing your social network presence could also be a cause for celebration for your company and should energize employees and customers alike.  After all, it represents an exciting entry into the new media world that holds more and more promise daily.

What’s in Your Plan for 2008?

  Over the last several months I’ve been reading about how new media might apply to B2B Marketing.  With the announcement of Open Social support from Linkedin (http://blog.linkedin.com/blog/2007/10/linkedin-open-s.html), it seems every day there are leaps and bounds towards creating new interactive environments for professionals and thus, for companies engaging to reach those individuals.  Still, it’s not always clear how to leverage these new ecosystems for clear return on investment.

 There are a few sentiments that seem to commonly weave their way into almost every posting/article on the topic of new media and B2B marketing: 

• Social networks, community email groups and independent blogs are the first in a long list of tools that individuals will use to form their own communities to pull information, rather than be the victim of push by marketers.  Some industry experts are predicting that smart filters will enable users to avoid unwanted information altogether (see http://www.conversationagent.com/2007/11/web-30-artifici.html )
• Marketing efforts are generally perceived to be evil (see bullet one) due to the constant and annoying push of promotions.
• Marketers must change their way of thinking to engage in a two way conversation with their constituencies in order to both offer value, resolve customer service issues and glean product requirements.

 So what’s a B2B marketing exec to do?  Warnings abound about waiting to jump into the fray of new media.  No doubt these execs are struggling to resolve serious cultural and practical issues around control of messaging, resource allocation and a fundamental strategy change that will have ripple effect on every function in the company.  If I was running a B2B marketing organization right now, here are the questions I’d be asking myself about integration of new media techniques in my 2008 marketing plan: 

• What new media venues are my clients and prospects using and which are the most trafficked?
• By starting a direct and open dialog with my constituencies online, what risks do we incur and how can we mitigate these risks?
• What resources should I allocate to new media as opposed to traditional marketing efforts?
• What new media are my competitors using?
• How can I measure the success of new media efforts?
• Do I have the talent on my staff to manage new ways of communication and promotion?
• How might my proposed changes effect the sales organization and processes?  Product development? Customer support? Other groups?
• What consensus do I need to build with my peers, my CEO and the Board of Directors for any significant changes in marketing strategy using new media?

 I thought I’d outline what I’d recommend for B2B companies to do right now about new media, starting with participation in social networks.  Check back here in a bit and I’ll compile a list of actions that I think you should take in early 2008.  How aggressive you will be will depend on your style, your audience and the tolerance of company for such changes.

What new media activities do you have in your 2008 plans?  I’d love to know.