Jorge's Thoughts: Debunking the Top 3 Seminar Marketing Myths

This week, we're taking a look at seminar marketing across our social media. Take a look at these top 3 seminar myths and let us know what you think in the comments below!

1) Feeding at the events 

This is a must to create that social event environment and not that antiquated lecture, workshop or sales pitch scenario. Also, the obvious: it allows time for you and/or your team to make appointments; otherwise, attendees would just leave after your presentation. The restaurant setting is neutral and familiar to your attendees. They probably go there many times on their own, and it's not suffocating or compromising like the other closed door venues. They know they can just leave the crowded restaurant if they wanted to.

 Something is bothering them financially, which is why they originally responded. If there are a few couples who appear to be there just information shopping or just gathering ideas, then so be it. They help fill the room and give you that emotional dynamic that makes people feel comfortable. You are going to get a 20% to 30% appointment ratio from the people who are attending whether you feed or not. You need the numbers on your side. Top producers do not worry about food costs because the ROI takes care of that. Ironically, not offering food does not change the appointment ratio nor does it mean that the attendees are truly more interested in what you are presenting . It will just end up being 30% appointments of less attendees. 

 

2) Converting attendees to appointments 

The amount of appointments you make at your seminars is 100% in direct proportion to the following factors:

• Did you have enough attendance? 

• Did you connect with your audience socially? 

• Did you tell stories that were relevant to the attendee's financial concerns? Could they relate? 

• Did you give your local background and tell your own story?  

• Did you intrigue your attendees with potential solutions and options and not a product pitch? 

• Was your topic current? Did you have too many slides?  

• Did you inspire the audience to feel like their confusion and worries about many financial issues were normal? 

• Did you explain and clarify what will happen at their first office appointments, include that nothing will be sold even then? 

• Did you have an effective and professional process to ask for the appointments during the dinner session? 

• Did you pre-sell appointments during their presentation and not just at the end? 

• Was the event feedback form explained and handed out? 

• Were you diligent in calling attendees who could not commit to a time and date the very next day? 

• Did you ask if a better or a later date would help them commit?  

• Did you offer the option of a private complimentary phone call review session if they were not willing or ready to meet face to face yet? 

 3) Saturation in marketing 

The real saturation is not in the marketing; rather, it is in the amount of advisors who are in direct competition in the immediate area. In one city corner at a business district intersection there could be 10 to 30 advisor offices. Many advisors ignore that fact and decide to blame bad seminar results on the amount of marketing that they perceive is happening in their backyard. If that were even remotely true and it was not working, then why would so many others send out invitations? 

The reality is that a very high percentage of those who are even doing seminars are doing them wrong. Wrong invites, wrong lists, wrong venues, wrong dates, wrong messaging...on and on. They may want to cut corners, save pennies, not take the time to understand marketing and end up usually partnering with local printers instead of experienced direct marketers. Good marketing is based on good data. Understanding and following the 10 to 15 critical variables that create successful outcomes is challenging. 

To wrap this up, everything we do here at RME360 is intended to create predictable marketing and sales processes that will continuously drive prospects and results for advisors over and over, all year long. We have 20 years of data. Let us show you how we can generate a continuous flow of prospects for your business. 

Tweet me and let's chat about seminar marketing:

 @JorgeVillarRME

By: Jorge Villar, President and Founder 

Seminar Marketing Success Factors: The Critical Factors You Must Avoid

Long before social media marketing, there was the original social marketing concept: seminar marketing. And while there are many marketing trends that allow you to reach your targeted audience with your brand messaging, your brand can't afford to ignore the classic solution of seminar marketing that brings you face-to-face with interested prospects.

Click here for our FREE white paper to learn more!

#planyourseminar





By: Susan Gail Taylor, Social Media Manager and Copywriter at RME360

Summertime and the...

...marketing's easy!

Yes, summer is in full swing. And if you're like many financial professionals, you've throttled back your marketing and lead generation activities - this despite the fact that it's a proven fact that consumers continue to respond to direct marketing campaigns. (See my June 2nd blog post: Debunking the Myth about Summer Seminars).

If you're among the savvy minority of producers who are keeping up their marketing momentum and continuing prospecting efforts throughout the summer months - BRAVO!If, however, you're "taking the summer off" and aren't investing in your marketing, at least take this time to review your marketing results from the first 6 months of 2014. Marketing and prospecting, like investing, is a process and cycle. If you aren't tracking what you're spending your marketing dollars on - and the results of those investments - this is the time to do so. Then, calculate your ROI.

If the ROI on your marketing dollars is 200% or more, you're doing things right and you should use the summer to set in place a marketing plan and strategy to capitalize on your past results. 

If the ROI is less than 200%, something's broken. Identify what's not working and consult with a trusted colleague or marketing professional to help you find out why a specific marketing campaign failed and then put in place a plan to fix it. 

REMEMBER THIS: When it comes to direct mail (be it lead generation, appointment setting or seminar marketing), if consumers aren't responding, they are sending you a clear message: your offer stinks!

There is a myriad of reasons why a campaign fails. Perhaps you promoted a seminar and didn't offer a free meal or held your seminar at a library. What list did you use? Is the list accurate and up-to-date? Did you offer something as an incentive to respond? (Note: a "free consultation" isn't an incentive; a gift card is an incentive!)

If you're not sure what to do, find a person or company with experience in financial services marketing and ask them to review your failed campaigns. If they're worth their salt, they will be able to give you feedback and recommendations that can improve your results.

Bottom line? Use the summer months to develop a marketing plan that will help you finish the year strong. Collect and analyze data from your marketing and use that data to drive your marketing investments. Finally, find a marketing partner to help you with lead generation activities. Focus on what you do best and outsource tasks that take you away from getting face-to-face with motivated and qualified prospects.

Marketing is an investment - treat it like one!

Have a happy and safe summer!

Debunking the Myth about Summer Seminars

For as long as financial advisors have been using social dinner seminars to get in front of a consistent flow of qualified prospects, there has been a persistent myth: “People don’t go to seminars during the summer.” Good marketers listen to consumers and base their approach on data, behaviors and trends. 

HERE ARE THE FACTS: A comprehensive review of seminars marketed for the months of June, July and August in both 2012 and 2013 shows that over 90,000 reservations were taken!

Your target audience does not suspend their financial planning needs, concerns or issues during the summer - or at any other time of the year for that matter. They need your help, advice and solutions year round.

Makes total sense right?

When I recently asked a group of advisors their motivation to conduct summer seminars, the overwhelming response was, “Because they work.” The next most common reason was because so many other advisors take the summer off and that gives them a big advantage!Another theme that emerged in these discussions was the importance of maintaining production momentum. One advisor confessed the obvious, “I know from personal experience that it takes an average of 30 to 60 days to convert a seminar prospect to a client. If I was to take two or three months off during the summer I’d be hard pressed to meet my personal and business goals.” 

One advisor added, “Marketing and lead generation is all about being consistant. Starting and stopping my marketing based on months of the calendar is short-term thinking. I know that marketing is an investment. I need to be in front of prospects every month of the year. After all, if they (prospects) aren’t meeting with me, chances are, they are meeting with someone else.”

Bottom line, financial advisors who continue their marketing efforts throughout the year will see more prospects, increase their client-base and generate the highest revenues. Avoid the “summer seminars don’t work” myth. Listen to the consumer –all successful marketers do.