Create a presentation you can deliver which is related to that product. The presentation should be helpful and useful, and mostly pure content. If the webinar is going to be an hour long, then you should have at least 45-50 minutes of good, solid content in there before you ever even talk about the product. An exception would be if the entire point of the webinar is how to use that product.
A webinar is a live, web-based video conference that uses the internet to connect the individual (or multiple individuals) hosting the webinar to an audience of viewers and listeners from all over the world. Hosts can show themselves speaking, switch to their computer screens for slideshows or demonstrations, and even invite guests from other locations to co-host the webinar with them.