Hopefully you were able to make today’s Event Marketing webinar – 7 Secrets to Profitability Using Lunch & Learns and Sales Events. In case you missed it, there will be a recording posted at some point soon…I want everyone to have this information before they do another event. Here’s a quick recap:
First, we talked about success – How do you measure success when talking about lunch & learns and other customer facing events? I hear that often, especially when involved with resellers who are trying to find funding for an event. What’s the ROI, they say. What they mean is, “How much revenue will this event drive?” No matter what you do, it’s hard to really tell. Would these people have bought if they hadn’t attended the event? You just don’t know. We talked about something you can measure – Conversion rate. We talked about various inflection points along the timeline of an event, starting with the invitation, and going though to fee-based business. There are about 5 infection points along the way. Consider:
- How many people you called, vs. how many attended?
- How many attended, and how many of them went on for a second 1-1 meeting or some other offering?
- How many meetings, assessments, or whatever, turned into billable engagements?
- How many engagements led to annuity services?
In my new eBook, I will be providing a conversion sheet example along with formulas and modifications to track your customized program. This is the key to refining the process.
Here is the official announcement. I plan to release my eBook, Event Marketing, 7 Secrets to Profitability Using Lunch & Learns and Sales Events, on October 10th, the same day I kick off my new workshop on Marketing. Sign up and get a free copy of the book before it’s released to the public!
Next, I covered common mistakes. These are mistakes I see even the best resellers making all the time…I only had time to cover three, but there are many. Fix these and you’re headed for success. I presented the problem, and then offered several ways to fix it. Here are three:
- Recreating the wheel: This refers to the reseller who insists on building a customized event every time they do one. The problem is, they never perfect it. Try building a great event, then make incremental improvements along the way. This makes a lot more sense and will allow your sales team to learn it, and execute on it.
- Focusing on more attendees – not follow up. Companies that focus on getting numbers in the door are making a mistake. Focus on getting the right people there. Invite a reasonable number that you can then follow up with in a reasonable amount of time.
- Your event is too technical. Forget about technology – focus on the four things buyers buy (Which I write about extensively in my book, From Vendor to Adviser). ROI, operational efficiency, competitive advantage, and risk mitigation.
Finally, we covered three things that lead to success. Again, there are many more to cover – which I do cover in the workshop, but here are a few to get you going.
- Make it educational. Think about those executives that will travel on their own dime to attend Gartner or some other industry event. Why won’t they attend your event? Simply because it isn’t worth traveling to. That might be real or perception. Your job is the make it great, and make sure the word gets out.
- Create an offer that takes them from attending to buying. This second point of conversion is critical. The first point is addressed in the bullet above - getting them there. This second one is something you offer your attendees at the meeting – something that compels them to meet again.
- Finally, start your follow up process in the meeting. Many companies don’t even have a follow up program. Your job is to create one before you ever meet, and then be prepared to offer it right there in the meeting. There is a way to do this without sounding like a used car sales person. We’ll cover that in detail in the workshop.
Finally, I gave everyone the early sign up coupon for the workshop: “EARLY” – original isn’t it! Us this when signing up at this link (it’s only good this week):
© 2012, David Stelzl