Extra SciTechSpace: Why Webcasts Are Perfect for Tapping Into Emerging Markets

Monday, January 17, 2011

Why Webcasts Are Perfect for Tapping Into Emerging Markets

Lara Fawzy is co-author of Emerging Business Online: Global Markets and the Power of B2B Internet Marketing, and currently a marketing manager for Ciscos African region. Lara is also Director and founder of her own firm, ebocube Consultancy, and conducts online marketing training.

The term emerging markets refers to countries experiencing relatively recent industrial and technological change, resulting in rapid economic growth. These markets were hit by the recession, but many remain in a robust growth position. Trading with businesses in these economies can offer a high return, but the endeavor involves a lot of uncertainty and risk.

However, Internet penetration in emergi! ng marke ts is growing at a dramatic pace, and businesses are particularly enthusiastic early adopters. Commerce and lead generation in these markets are now just a click away, and one way to pique interest is through video webcasting.

Webcasting is relatively new in emerging markets, and has proven to be extremely popular. While the media in developed economies often outshines the humble webcast, business leaders in emerging economies have taken to it with enthusiasm.

How Webcasts Work

Webcast content can be in the form of video, audio, PowerPoint, other presentation software, or any combination of the above.

A good webcasting platform will be streamlined, reliable, and enable attendees of your online event to access your live content with ease from any Internet connection.

Additionally, many platforms enable you to make your event viewable after you broadcast through a video-on-demand feature. That way, your valuable content doesnt disappear after the shows over, but can continue to engage an international audience for as long as there is interest.

Webcasting for Marketers

Webcasting is a flexible and enduring marketing technique that has a variety of uses:

Raising brand awareness
Acquiring and retaining loyal customers
Generating sales leads
Communicating product/service launches
Training
Seminars

Benefits include:

Cost-effectiveness: While marketing budgets are being cut or scrutinized, webcasting is an extremely inexpensive way to drive engagement and supplant costly physical events. Theres no space to rent, travel expenses to incur, or staff to pay.

Interactivity: Because webcasts occur in real time, they are ripe for interactivity. Ask your audience to participate in Q&As, through polls, or by communicating with them one-on-one.

Measuring Success in New Markets

The success of webcasts can be measured in ways similar t! o live e vents with the added advantage of tracking attendees in real time. Metrics include:

Registrations: Determine how many attendees you can expect prior to the event.

Attendees: Once the webcast is over, determine your full audience.

No shows: Once the webcast has begun, you can determine how many registered attendees never log in.

Drop-off rate: While the webcast is in progress, most tools will tell you when attendees drop off. Connect this with the content in motion at the time of the drop-off to improve the retention rate of future webcasts.

Cost per attendee: Divide the production cost of the webcast by the number of attendees to better determine your return.

Number of questions asked or submitted and by whom: Take a look at reports on how many questions you received and who asked them. You can also advise attendees to e-mail you or the speaker if you are unable to answer all questions during the webcast.

The exact time a question was asked: Questions may have increased during a specific section of the broadcast. This may highlight specific areas of interest in the local market

Voting/polling in real time: Measure the participation of attendees in opinion polls. The results can be insightful.

Attendee evaluation: Use a questionnaire at the end of the event. Feedback is likely to be more honest because the attendees are not face to face with the presenter, and their opinions are not biased by a free lunch.

Leads and lead conversions: These are registrants who have answered lead qualification questions while registering or have requested contact by sales in your evaluation questionnaire. These leads or potential leads should be added to your sales management tool.

Thinking Globally, Acting Locally

While reaching out to emerging markets is a global endeavor, you mus! t think about the local business community you are targeting. Webcasting is a great way to tailor your local marketing strategy. Before jumping in, think about language, business culture, and timing.

While theres certainly a lot to consider, the potential ROI is can be significant.