Debunking Webinar Myth #3: Webinars produce quantity, but not quality.

Debunking Webinar Myth #3: Webinars produce quantity, but not quality.

Common Webinar MythsSometimes, we hear from customers that their webinars drove a ton of registrations or high attendance, but they didn’t feel like they generated many qualified leads. What gives?

A great webinar topic can drive a lot of interest from people in all buying stages. That means a lot of people might show up to your webinar, but they might not turn into qualified leads right away. This could give you a false sense of how we your webinar performed.

This is definitely one of the most important myths that needs to be dispelled.

Tweetable alert: Webinars provide a higher quality lead than most other lead generation tactics because prospects:

  • provide accurate data to gain access to the webinar,

  • are willing to give up their time to join the webinar for an extended period of time, and

  • they want to hear what you have to say.

If you feel like webinar attendees are not turning into qualified prospects, then it’s time to use some lead qualifying techniques to find and identify the best prospects:

  • On the sign up form, have an open-ended question that asks why the prospect is attending the webinar.

  • Conduct surveys or polls during the webinar to gather some insight into your attendees.

 

How many qualified leads do you usually get out of a webinar? Share your stories in the comments section below!

 

Stay tuned for the next post in this series about the myth surrounding webinar technology.

We know there are a lot of common misconceptions about webinars. They’re expensive, people never show up or something always goes wrong. But we also know webinars are a great lead generation tactic that provides companies with high quality leads. So, why all the bad press?

We’re here to debunk the most common webinar myths. Download “The Top 8 Common Webinar Myths” ebook to learn more:

Webinar Myths

 

 

Debunking Webinar Myth #2: The price per lead is too high.

Debunking Webinar Myth #2: The price per lead is too high.

In our first post of this series, we talked about how you can conduct cost effective webinars for your organization, since most think webinars cost an arm and a leg to conduct. Along with this assumption, most marketers also think that the cost per lead is really high. This is simply not the case, and we’re going to show you why.

While webinars might cost a bit more than other lead generation tactics (direct mail, inbound marketing, etc.), the price per lead is justified given the average conversion rate of webinars compared to other tactics. Webinars are actually more likely to lead to a sale than other lead generation tactics:

Tweetable alert: Based on a recent survey we conducted with our clients, between 20% and 40% of webinar attendees turn into qualified leads, with an average cost per lead at $97.70.

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That’s only $40 more than a lead from inbound marketing or direct mail, and it’s almost three times cheaper than a trade show lead.

If you feel like your webinar leads aren’t quality leads, then there is a problem. According to a survey conducted by Redback Conferencing, one of the main reasons webinars fail is because of poor content (35%.). If prospects are not intrigued by your content, then they’re not going to turn into leads. Conduct post webinar surveys to see what your attendees had to say about your webinar and adjust accordingly.

 

Do you have a webinar success story? Share your stories in the comments section below!

 

Stay tuned for the next post in this series about the quality leads webinars produce.

 

We know there are a lot of common misconceptions about webinars. They’re expensive, people never show up or something always goes wrong. But we also know webinars are a great lead generation tactic that provides companies with high quality leads. So, why all the bad press?

We’re here to debunk the most common webinar myths. Download “The Top 8 Common Webinar Myths” ebook to learn more:

Download 8 commmon webinar myths
 
 

Debunking Webinar Myth #1: Webinars cost an arm and a leg

Debunking Webinar Myth #1: Webinars cost an arm and a leg

In our experience, most people think webinars cost an arm and a leg. There can be a variety of expenses associated with webinars, including staffing, technology, promotion and more, but webinars do not have to deplete your piggybank. Seriously!

Download Common Webinar MythsAs with every lead generation tactic, there is a cost associated with execution. However, webinars do not necessarily have to be expensive to implement. It’s really up to you and your organization how much you want to invest in this tactic.

Tweetable alert: The average cost of conducting a webinar is between $100 and $3,000, depending on promotion and technology costs.

Obviously, the cost can vary substantially, which really depends on a couple of factors, including how much you want to invest in paid promotion, the technology you choose and how many attendees you want at your event.

Want to do a webinar, but want to do it on a budget? Do the math. If you want to conduct a webinar series, but only have a set budget per month, then take all of the different cost considerations into account.

Here are a couple of recommendations for decreasing your webinar costs:

  • Ask qualifying questions to limit the number of registrants for each webinar.
  • Conduct webinars on a monthly or bimonthly basis.
  • Only archive or record webinars that are valuable after the fact.
  • Save time by having a clear promotion plan and execution plan in place.
  • Improve prospect nurturing by automatically moving the attendee data to your CRM or marketing automation system.

Check the cost associated with all of these for your webinar platform, then figure out what you can afford.

How have you saved money on conducting webinars in the past? Share your stories in the comments section below!

Stay tuned for the next post in this series about the webinar price per lead.

 

We know there are a lot of common misconceptions about webinars. They’re expensive, people never show up or something always goes wrong. But we also know webinars are a great lead generation tactic that provides companies with high quality leads. So, why all the bad press?

We’re here to debunk the most common webinar myths. Download “The Top 8 Common Webinar Myths” ebook to learn more:

Download Webinar Myths eBook

 

 

 

How to Identify and Clean up Bad Data

How to Identify and Clean up Bad Data

cost of bad dataThe implications of bad data are huge, as we discussed in this post. It causes not just direct financial losses to the tune of $600 billion annually in the US alone, but it could destroy a business. Businesses need to understand what causes bad data and take proactive steps to remediate the causes.

1. Automate: The number one reason for bad data is clerical errors as data is entered manually into systems. Automating manual steps such as moving figures and summations would reduce bad data significantly.

2. Shun the obsession with more: The hype on big data notwithstanding, collecting excessive data may become counterproductive, leaving no time for the marketer to undertake any meaningful analysis or evaluation of the collected data. Also, it could lead to data overload, increasing the chances of errors or wrong analysis. The lack of use of information leaves little incentive to improve data quality. A marketer is better off trying to put the available data to better use rather than seek more and more data and dilute its usage.

3. Seek out consistency: Fragmented information systems and blurred controls could lead to significant duplicate entries. Data scattered across disparate databases makes it difficult to mine that data for useful information, or use such data to build and improve customer relationships. Investing in a robust system and procedure upfront with regards to data collection would lead to better data consistency and eliminate the menace of duplicates. Some ways to do this include making changes in data collection forms, harmonizing methods, and instituting routine checks on data quality.

4. Undertake Data Audits: The best of precautions notwithstanding, bad data invariably creeps in due to unavoidable manual entries, technological glitches, deliberate wrong inputs by customers, and other reasons. The solution is a periodic data audit, to review key customer touch points and audit the customer experience. These audits should ideally review how data is collected and how the collected data is being used. Specific points for data audits include:

  • Reviewing the data collection forms and eliminating the collection of superfluous or unnecessary information.
  • Ensuring that data collection is consistent across the various touch points, including websites, ads, point of sales terminals, social media and more.
  • Using tools such as the ones offered by Business Objects and IBM to clean up inaccurate or contradictory data.
  • Place an expiry date on data, to update or delete stale records.
  • Enrich data with outside sources, to update stale records, such as a contact’s change of job
  • Break down data silos by ensuring that the various data related efforts go into a centralized data mart
  • Ensure that there are proper definitions and validations in place, so that the data entered is of high quality in the first place. One important check is searching for duplicates before entering new data, to avoid reinventing the wheel.
  • Ensure that data confirms to standard conventions and definitions, to eliminate misunderstandings.

Adopting data quality best practices could boost revenues by as much as 66%, and in most cases more than compensates for the time and money invested.

One way to improve data is through system integrations. ReadyTalk integrates directly with Eloqua, Marketo, Salesforce and other platforms to automatically move your webinar and conferencing data between platforms. By eliminating manual processes, the quality of the data is greatly improved. Learn more about ReadyTalk integrations.

 

Reference:

 

  1. http://go.crmfusion.com/rs/crmfusioninc/images/CRMfusion-Challenge-of-Bad-Salesforce-Data.pdf
  2. http://www.dhis2.org/doc/snapshot/en/implementer/html/ch13s02.html
  3. http://www.clickz.com/clickz/column/2258186/spring-cleanup-bad-data-not-big-data-needs-your-attention
  4. http://www.informationweek.com/new-tools-to-clean-up-bad-data/d/d-id/1042956?
  5. http://go.crmfusion.com/rs/crmfusioninc/images/CRMfusion-Challenge-of-Bad-Salesforce-Data.pdf
  6. http://www.dmrsgroup.com/papers/WPDataHygienePro3-06.pdf
  7. http://www.informationweek.com/new-tools-to-clean-up-bad-data/d/d-id/1042956?
  8. http://www.clickz.com/clickz/column/2258186/spring-cleanup-bad-data-not-big-data-needs-your-attention
  9. http://blog.kalido.com/whats-the-root-cause-of-bad-data/
  10. http://www.springcreeksystems.com/2013/05/27/how-does-bad-data-happen/

Top 5 Webinar Lead Generation Mistakes

Top 5 Webinar Lead Generation Mistakes

Top 5 Webinar MistakesA webinar is a proven medium to generate high quality leads. However, merely going through the motions does not guarantee leads. For the webinar to provide results, it is important to avoid some cardinal, yet common pitfalls.

1. Limited Marketing Efforts:

Many marketers go all out to curate top content and put in place the best possible infrastructure, to the extent that they do not have the time or resources to market the webinar. The best content and infrastructure is useless without people being aware of the webinar in the first place.

It usually takes a multi-pronged effort to drive people to a webinar. Many marketers confine their marketing efforts to just a single email to their list, but sending multiple emails within seven days of the webinar alone increases the registration rate by 36%. Other methods, such as social media campaigns and PPC ads, are also effective.

Many marketers fail to optimize their landing pages as well. A lack of focus or intensity in the landing page causes many leads to click away without registration.

2. Neglecting Infrastructure:

While some neglect marketing, other marketers neglect the infrastructure. Logistics play a critical role in the success of a webinar, as does superior quality infrastructure. Make sure that the audio quality and Internet speed is up to par.

3. Preaching to the Converted:

The aim of the webinar is to either attract new prospects or move existing leads up the marketing lifecycle chain. The webinar marketing efforts need to progress in this direction, rather than target people who are already convinced or are ready to buy. With a combination of big data analytics and effective filtering of the lead database, marketers can easily segment their leads and decide who they should reach out to.

4. Faltering at the Big Stage:

The webinar offers the marketer a captive audience for an extended length of time. Many marketers get carried away by this and start preaching. This becomes an exercise in futility, and even counterproductive. The easiest way to drive people away from the webinar is by bombarding them with endless slides and text.

For a webinar to be effective, the slides should be compelling, there needs to be a story, there should be key take-aways or perceived value for the audience, and, more importantly, the marketer needs to involve listeners through polls, question and answer sessions and relevant feedback. These interactions will reveal more about the audience and offer the marketer a rich haul of behavioral data and better insight to leads. For instance, a poll on a key issue would help the marketer understand where the specific prospect stands, paving way to engage them on a personalized basis.

5. Not making follow up initiatives:

For the marketer, the webinar is not an end by itself. The marketer needs to position the webinar as a way to generate more leads or progress leads up the marketing lifecycle, and engage with each attendee accordingly. The marketer would also need to archive the event and make them available on demand to net more leads later, without additional investments or efforts.

Avoiding these pitfalls will allow marketers to realize the optimal value from their webinar efforts, and bring down the cost per lead substantially.

 

Reference:

  1. http://www.iwebinar.com/top-10-webinar-mistakes-to-avoid/
  2. http://communication.on24.com/top-10-common-webinar-mistakes
  3. http://www.on24.com/press_releases/webcasting-leader-reveals-top-10-webinar-donts/
  4. http://rockthedeadline.com/blog/top-10-webinar-mistakes/