While webinars have become a very common occurrence for online marketers, webmasters and virtually any type of professional, the business value of hosting these virtual events is remarkable. Webinars leverage the cross section of a few powerful psychological triggers, such as social proof, event-based marketing, video and scarcity. Together they create the powerful sales and lead generation force that webinars have become.

Here are 6 ways that webinars will grow your business:

1. Lead Generation

Webinars are common enough that attendees are happy to give you their email address and other info if your webinar description and the rest of your landing page is interesting enough. This stands in contrast to other online lead generation processes, where it’s becoming more difficult to obtain good email addresses.

2. Solid Attention from Prospects

Webinars are unique in the sense that they actually cause people to sit down and pay attention. Even a decent webinar will retain at least 50% – 60% of the audience for the full duration of the event, even up to 90+ minutes. Given that studies show that marketing messages now need to grab attention in 6 seconds or less, this is pretty remarkable.

3. Gain Trust

Webinars are an excellent platform that allows you the time and demonstration ability to share your story of how you built your business to where you are today. Since attendees can actually hear (and sometimes see) you, there’s a level of personal connection that goes beyond other online formats.

4. Build Credibility

Since a webinar is often an educational event, even if there’s a pitch at the end, it allows you to demonstrate your expertise, both via your prepared presentation, as well as in fielding questions from attendees.

5. Excellent Conversion Rates

If your online sales letter converts between 2-5% of visitors into customers, you’re usually regarded as sitting on a gold mine. Imagine what they’ll say about conversion rates of 10-20% of webinar attendees into customers! This has been seen consistently in the Internet marketing community for years now, even with high ticket items. Webinars most definitely are a selling tool.

6. Practice Makes Perfect

Just like giving a live presentation, the more often you give the presentation, the better you get at it. So there’s no better time to start than now, as it will only benefit you as your webinar presentation skills become more refined and effective over time.