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How many businesses have avoided the effects of higher energy costs and a slower economy? Not many. Energy costs affect all of us and the news of the slowing economy does not help promote any growth initiatives, particularly for small businesses who need to enforce greater budgetary control.

In times like these, sales growth typically slows. In addition, margins lose steam and productivity also suffers. The reason for slower sales growth is a combination of emotion (fear-based) and a reluctance to try new approaches. Margins decrease because expenses, such as travel and transportation, increase. And productivity suffers because more employees are sitting around due to slower growth.

Instead of crawling into a cocoon and hoping to weather the economic storm, small businesses should face the elements head-on. Withdrawal is a fundamental mistake that only gets amplified for small businesses that can’t afford back-to-back months of little or no sales. This does not mean or suggest spending more and more on advertising. Rather, small businesses need to consider and weigh alternate marketing techniques. This is where the webinar solution comes up.

Where webinars, or web conferencing can help with the sales process is through a simple two-step process. The way Quote Stork Solutions sees things, web conferencing is expected to grow six-hundred percent over the next five years according to a May 2008 Ipsos report. And while medium- and large-sized businesses are already capitalizing on the benefits, small businesses who fail to adapt quickly stand to lose.

In the first step, the small business initiates a direct-response marketing campaign. This type of marketing benefits all types of businesses, but larger competitors typically shy away from them since they are perceived as high-maintenance. Small businesses, however, use these touchy-feely campaigns more effectively and consequently have experienced proven results. Additionally, since direct-response involves taking action, only interested prospects will respond.

The second step entails hosting a webinar. Of course, the webinar will have something to do with a sales pitch, but Quote Stork recommends offering a value-added reason for prospects to attend. For example, a mortgage broker might want to discuss regional mortgage trends and highlight some of the problems facing existing homeowners and how this particular broker can help prospects through tough times.

Using direct-response marketing, small businesses can eliminate the need for fronting large sums of cash for putting together a traditional seminar. And since only interested prospects will attend your webinar (versus cold-calling prospects who do not want to hear or see you), you will speak and sell to a captive audience. Forget the hard sale.

Lastly, using the webinar approach provides a win-win for both the small business (seller) and prospect (buyer). For the seller, the webinar option allows small businesses to pitch to a “roomfull” of interested prospects instead of pitching to each business individually. For the buyer, a webinar allows prospects to attend meetings remotely from their home or office.

The market leader here is GoToMeeting. They offer a comprehensive web conference solution for all business types. Plus, through the link below, you can enjoy a Free Trial and receive $10 off your first paid web conference.