Nearly 60% use them. A third even say they’re critical. Want to know what all the fuss is about? It’s marketers singing the praises of webinars to promote their business. Increasingly, more businesses use this tool to create new customer relationships and reinforce existing ones. Need more convincing? Here are five reasons why you should consider whether webinars are right for your small business.

But first, let’s be clear about what a webinar is (and isn’t). In simplest terms, it’s a seminar held online. It might demonstrate how to do something or educate people on a topic where you’re the expert. Participants often interact with the speaker in question/answer sessions. That’s what creates the connection needed to form an on-going relationship.  

Webinars are not a sales pitch. Instead, they educate or inform. The goal isn’t to close a sale. That will likely come later, as your relationship develops.

With that understanding, here are reasons you should consider adding webinars to your marketing efforts:

Reason 1: They get results.

Webinars attract attention. ClickMeeting, a webinar hosting service, reported a 7% increase in webinar events with a 16% rise in attendees. 

They also create leads. ReadyTalk reports 20% to 40% of people participating in a webinar turn into qualified leads. While results will vary, that’s an impressive result. They can also increase traffic to your website or social media platforms from attendees who want to learn more.  

Reason 2: They put you at the head of the line.

An effective webinar positions you as an authority on the subject. Think back on the last time you heard a good speaker. You likely walked away feeling this person was an expert on the topic. You trust their opinion.

That equity establishes you as their go-to resource for information. When new or repeat customers have questions (or want to purchase), you go to the front of their consideration line.

Reason 3: They help grow your prospecting list. 

As people register for your webinar, you’re gathering contact information to incorporate into your ongoing marketing efforts. After the webinar, you can invite them to “like” your Facebook page, add them to your monthly newsletter list, or integrate them into an email campaign. 

If you use a customer relationship management system, you can feed that information into the database for systematic follow-up. Collectively, each contact keeps you visible.

Reason 4: They are surprisingly affordable.  

The cost of a webinar will vary based on the platform you use. Companies like Zoom or Google Hangouts will host your webinar for free, if you have a limited number of participants. Paid hosting services can accommodate larger numbers and provide extras like email invitations and post-webinar metrics. Here’s Capterra’s review of free and for-pay platform. 

There will also be costs to promote the event. Some marketers integrate that into existing touchpoints like blogs or emails to defray this expense. 

Reason 5: They use equipment you probably already have.  

You likely have the technology you need to conduct a webinar. First, you’ll need a high-speed internet connection (300 mbps or greater) that can accommodate streaming video. With it, you can send and receive data without annoying buffering.

Many laptop or desktop computers have a webcam integrated into them for video. Likewise, your existing computer has a built-in microphone for the audio portion. You can also purchase a headset and microphone for optimal quality.

Webinars can be an effective way to extend your marketing efforts. Consider these advantages when deciding if they’re right for your business. Ready to give it a try? Take a look at these tips for creating your own webinar.