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?
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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.
