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PART
6
How
visible are you?
I
often suggest public speaking as a powerful way to show prospective
clients what you can do. Many professionals and consultants have built
successful practices by giving free presentations to associations, businesses,
and educational institutions. But what about producing your own seminar,
where you arrange the logistics and invite the guests? Does this work
as a strategy for landing clients?
Offering a seminar can be an effective means to become more visible
to your target market. If you are a good (or even fair) presenter, and
the right people come to your seminar, you will definitely get new customers.
But to use seminar marketing successfully, you need to be very clear
on your goals, and plan each seminar carefully.
If the purpose of your seminar is primarily to get clients, you shouldn't
be expecting to make money on the seminar itself. You may wish merely
to cover your expenses, or maybe even spend a little extra. For this
type of seminar, the key to making it pay off is to attract people who
are good prospects for your business in the first place, rather than
just filling the room.
Instead of making your seminar free, it's a good idea to charge a small
fee. That way, your prospective clients will perceive you as offering
something of value. The fee will also discourage attendance by people
who can't afford your product or service. It's the quality of the participants
that matters, not the quantity.
If what you really want is for your seminar to turn a profit, you must
recognize that by offering full-fee seminars, you are adding another
line of business to your company. Operating as a seminar producer will
require the same kind of planning and ongoing management as your existing
business does.
It can be as difficult to make a profit on your first seminar as it
was to originally launch your business. Many people won't sign up for
a seminar the first time they see it; others would like to come but
can't make the date. You'll have a better chance of making money if
you plan at the outset to offer your seminar on a regular basis. You
may find, though, that this takes away too much time from your core
business.
Whether the seminar you are planning is promotional or for profit, estimate
your projected income and expenses before making a commitment to proceed.
Base the income you project solely on the fee you will charge per person
multiplied by the number of attendees you expect. Don't include any
projected spinoff business in your income estimate. If you land new
business, you will still have to work additional hours to earn that
compensation.
Typical expenses include design and printing of a flyer or brochure,
postage, posting a notice on your website, purchase of mailing lists
(if you don't have your own), print and Internet media ads (including
calendar listings), facility rent, audiovisuals, handouts, and refreshments.
You should also consider the cost of your own time to design promotional
materials, compile lists, compose e-mails, and make phone calls, as
noted below.
In designing a snail mail or e-mail campaign for your seminar, keep
in mind that it is quite typical to get only one registration for every
100 pieces you mail, even with a pre-qualified list.
Subtract your projected expenses from your income, then make a rational
decision on whether to proceed. If the purpose of your seminar is to
get business, estimate how much spinoff business is likely. Before going
ahead, ask yourself if there might be an easier or cheaper way to get
that many new clients or contracts.
If your purpose is to make money, divide your expected profit by the
number of hours it will take you to design, market, and deliver your
seminar. Is that amount a reasonable level of compensation for you?
If your best guess at the numbers tells you that producing a seminar
makes good business sense for you, go for it! Because people do business
with those they know, like, and trust, seminars can help you build a
solid client base. And because repeat contacts raise awareness, mailings
and ads about your seminar will generate more visibility for your core
business.
See you at the front of the room,
C.J. Hayden, MCC
##############################################
Copyright
2001, C.J. Hayden. All rights reserved. Articles
from the Get Clients Now! E-Letter may be distributed or
reproduced as long as the copyright and URL are included.
Please forward a copy to your friends and associates!
To subscribe to the E-Letter, read back issues, or buy the
Get Clients Now! book, visit http://www.getclientsnow.com
or mailto:coachcj@getclientsnow.com
.
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