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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.

The first step involves direct-response marketing. Typically, larger competitors shy from this type of marketing effort despite the high return on investment (ROI). For the small business, however, direct-response marketing has proven to be a cost-effective way to reach hundreds and even thousands of prospects. And since it is a direct-response method, only interested prospects will respond.

The second step involves developing and presenting a valued-added sales pitch to interested parties via webinar or web conference. This is more than a “Why You Should Deal with Me” pitch. For example, an electrical contractor might present some of the common problems electrical encountered in the course of a typical renovation as well as some of the remedies taken to correct such problems.

By generating interest beforehand, the small businesses can avoid spending the resources they previously would have. In addition, only interested prospects will attend the web conference, meaning the small business is now dealing with a captive audience. This is a welcome change from the cold call audience that needed to be “sold.”

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.

Today’s leader in webinar solutions is GoToMeeting. They offer a cost effective solution that is cheaper than nearly any hotel room rental. Plus, if you use the link below you can try GoToMeeting for Free and take an additional $10 off your first paid webinar.