Seminars are the most effective method of turning prospects into clients. While you may have your seminar marketing budget planned here’s five ways to increase your ROI. It’s not too late to make your marketing dollars go further.
You don’t get what you don’t ask for, discuss specific advantages with the restaurant owner or manager can pay off. We suggest using a copy of your seminar invite and a previous or unpaid invoice to negotiate with the restaurant, it can be a powerful tool when illustrating the positive impact your marketing could have on their business. With restaurants especially feeling the sting of the economy, the number of invitations you’re mailing with the restaurant’s logo can be attractive – you’re pretty much marketing to their neighborhood and demographic of diners for them!
If they still need a push, explain that the restaurant will gain repeat customers it didn’t need to pay to market to. How many times have you heard your guests say they went back to the restaurant after the seminar? That’s a plus in negotiations. Try shooting for smaller portions, lower meal pricing, a lower minimum, or ask them to waive the room charge.
2) Optimize your mailing list.
Do you find it hard to set appointments with certain demographics, like age, income or ethnicity? When you do get the appointment, do you have trouble closing the sale? Most advisors end up removing these guests from the list due to the hassle, but working with the right marketing team can get you a much better list so you don’t have to worry about that. For example, you can ask us to purge certain demographics that you know don’t convert to sales or only come for free food. That’ll save you thousands in the long-run, your marketing budget won’t be feeding people you can’t work with or paying for empty chairs and full plates of food for no shows.
3) Call attendees.
Advisors who are successful with seminars get the numbers game behind their marketing strategy. Yet, many are so focused on the game they overlook opportunities they didn’t plan for. Making calls to attendees who didn’t set appointments with you after the seminar can present new opportunities. Oftentimes, those people need additional time to commit to an appointment, and a simple call can open that dialog and get them in your office.
If you don’t have time to make these calls, there’s professional appointment setting programs that can make the calls for you using your company name, they can also book appointments on your behalf. It’s a cost effective way of increasing your ROI by capitalizing on an otherwise lost prospect.
4) Make in-house confirmation calls.
Most seminar marketing companies will offer to make confirmation calls to attendees for an added fee. You might think this is a great value that can save you and your staff time, but we’ve found that taking this task on within your office can have a positive impact on conversation rates. Having you and your staff make the calls allows the prospects to develop a relationship with your team at a faster rate. We recommend you make calls prior to the seminar to confirm the RSVP, follow the guide offered here if you don’t have a system in place. By the time the seminar comes along, the person handling those calls can interact with the guests on a first name basis. Not only will the prospect be relaxed when speaking with you and your team at the event, they’ll be more receptive to setting an appointment afterward.
5) Consider home ownership and value.
Some advisors turn to Income Producing Assets (IPA) data when selecting their demographics, but that comes at a hit to your budget. Since IPA data is based only on modeling, there’s alternative selections you can choose that do not command a premium, but are based on exact data. Factors like home ownership or minimum home value can help accomplish the same outcome without the 2 cent hike per record, the average for IPA data. For advisors mailing hundreds of thousands of invitations a year, this can help them save around $2,000 or more!