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. ,p>
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.