Are Public Seminars Right For You?
So many experts are jumping on the public seminar bandwagon. And with good reason: there is a lot of gold in those events, and millions are being made without being “famous.” So, does that mean every expert should include public events and retreats? Not necessarily….below are three questions to ask yourself before committing time and money to this endeavor.
Are you a draw?
Experts who are unknown expect too much, too fast, according to Debra Thompson, Event Marketing Strategist for high-profile platform speakers and CEO of the Wealth Alliance Group in Phoenix, Arizona. “It can take anywhere from $80 - $100 per attendee to promote an event. That means a typical 1,000 person event can cost a promoter around $100,000 in advertising.” Debra explains. “That’s way too much risk for unknown or un-tested speakers.”
And she should know: Debra has worked with top dogs in the public seminar business to manage and market events that have generated millions. What’s Debra’s secret to making public seminars profitable? “It’s not really about attracting the highest number of attendees; it’s about attracting the “right” attendees for the event.” Debra says. “When you promote an event and get the right target audience for the right speaker, magic (and money) show up in a big way.”
Bottom line: public seminars don’t jumpstart speaking careers; the events augment already established ones.
Do you have a marketing budget?
Another misconception of the beginner is marketing costs. You have to be prepared to invest in this revenue stream like you would writing a book, or launching a professional speaking business. Remember, promoters typically spend major bucks on advertising and direct mail. This environment is too sophisticated for bootstrapping.
Without a marketing budget, experts set themselves up for losing their hard costs in hotel fees, materials and most importantly, their momentum. Creating events that don’t work out can devastate your brand, Debra explains. “If the results are dismal, everyone knows about it, and word travels fast” she says. “It will impact the attendance of your next event.”
Bottom line: Failure can hurt. Get serious or get out.
Do you have infrastructure to support your platform?
You’ve done everything right and your event is a success. Now what? If you don’t offer ancillary services and products, all the great education you just provided your attendees will go to waste. “The participants need more than just information,” Debra explains. “They need help with execution. And if you don’t give it to them, they’ll never get started…and blame you.”
Prepare for this platform by having at least three ways attendees can get more help. Provide options that include all kinds of learning: books for visual learners, CD’s for the auditory and even mentoring for the hands-on types
Bottom line: Current attendees can be future success stories. It’s in everyone’s best interest to provide support.
Like everything else in life, public workshops can be a high-risk prospect or a slam-dunk sure thing. It’s all in your strategic approach and execution.
(Vickie’s note: Debra Thompson is a world-class expert on the subject of promoting profitable public events. If you are even THINKING about this marketplace, it is worth your investment to strategize with her. Email Debra at debra@wealthalliancegroup.com to get started…and no, I’m not getting a commission if you contact her. )
Getting into the Public Seminar Market
Don’t want to put on your own event? Another way to cash into this lucrative market is to speak at other public seminars. The buyers: promoters who put together all facets of the event. What do promoters look for in selecting speakers? Debra shares the top three criteria:
Established experience
Public seminars are not the place to try new things. For example, if a promoter has an event with 1,000 attendees, speakers who have only spoken in front of audiences of 100 need not apply. “No one is interested in “newbies.” They need to get their experience somewhere – but “not on my turf” is the industry buzz.” Debra explains.
Content-based selling
Contrary to popular belief, many promoters don’t want a constant sales pitch from their speakers. In fact, riveting content is very important to promoters. “Content – Content – Content! I can’t stress this enough.” Debra states. “If a speaker just gets up and sells during the entire presentation, they will not be back.”
Many promoters want the best of both worlds: great content and big sales. They look for that delicate balance between giving great content and selling the audience additional products. According to Debra, the ratio is 90% content and 10% selling throughout the presentation. “There is a skill and an art to platform speaking that many fee-based speakers do not understand.” Debra explains. “This is the biggest reason why public seminars don’t work for a lot of professional speakers.”
High-fee product lines
Public seminars are like any other business: profitability is king. Therefore, speakers who just have a book and no other products aren’t ready for the public seminar market. “Never sell a piece of you.” Debra says. “If the audience has the option of buying a piece of you by purchasing your book or purchasing your home study course, the majority will always buy the $29 book.” What price points are promoters looking for? Start at $795 and go up from there.
And that’s not all. Professional speakers also need ancillary systems, such as fast product fulfillment and great customer service. The last thing promoters need is attendees complaining to them that one of “their” speakers is ripping them off.
Bottom line: Experts who treat public seminars seriously and are willing to invest in high-fee product lines and to master a different speaking format can leverage their expertise into these profitable venues.
Money is in motion
In many markets, the windows of opportunity are opening and closing quickly. Are you keeping up? If you want the latest inside scoop to where the money is going, check out this teleclass High-Fee Speaking Engagements: Trends In The Industry. Susan Levin will be interviewing me on the latest trends as well as strategies to fill your calendar (and your bank account.). Make sure you’re first to market with this HOT information. Investment is a mere $69 and that includes the CD. Click here to register. http://speakerservices.com/teleclasses/high_fee.html )
Can’t live with it, can’t live without it…
I’m really starting to have a love/hate relationship with technology. The latest “incident:” I’ve been receiving reports that some folks aren’t receiving our personal responses to their specific question or request. So this calls for a new process: if you send an email to info@sullivanspeaker.com asking me for something and you don’t receive a response either from me or Vicky Likens by the next business day, call Vicky at 301/604-3242. There’s a big possibility we emailed you back and you didn’t get our response. Also be sure to include your phone number in your email, so we can stop the insanity and give you a call…
Times, they are a changin’…
And so is this publication. This spring issue will be the last for Splash…but have no fear! This summer I will unveil “The Sullivan Report,” which will be filled with insights on building the empire of expertise. Stay tuned…
I’ve been in business for a long time and have a great track record with my clients. However, when I market outside my “fan club,” I seem to be one of many. How do I differentiate my expertise to prospects that don’t know me?
There are two ways: first, make sure that your point of view is shining through in everything you say. Called the manifesto in the Your Position of Power™ system (click here for more info), you need to make sure your “take” on current challenges is considered a fresh perspective. If your manifesto is really unique, you’ll attract outsiders.
Second, your reputation needs to precede you. How? By getting your “big stories” out into the marketplace. Knowing that others went before them and were successful lowers the risk for prospects. And you look safe to hire. To help make that happen in the open market, distribute your success stories as case studies. And don’t just depend on creative writing; make those stories come alive with sounds and images. Want to see an example? Click here…
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