A well presented seminar is an excellent way to connect with your clients and reach out to prospects.
Seminars are the best method to meet prospects, says Jim Nelson, president of Advisors Marketing in Tampa, Fla. Although referrals work well, he says, some advisors are hesitant to ask for referrals for fear of sounding like a pest, he says. And cold calling is becoming more and more difficult — and risky — thanks to the Do-Not-Call-List legislation.
Of course, seminars are not solely for prospecting. They can also help you build trust in your relationships with your current clientele, says Jack Cramer, president of Jack Cramer and Associates Inc. in Madison, Wis.
Yesterday’s BYB Daily article outlined common slip-ups that can derail a seminar — along with your best-laid prospecting and trust-building plans. Here are three more mistakes to avoid when organizing a seminar:
1. Hosting only one seminar
It’s easy for clients to forget or skip a one-time event. Generate interest and a routine for your seminars by setting up a series.
Schedule a block of three to five seminars focusing on a single theme, such as retirement planning, says Cramer. For example, you might hold a seminar every Wednesday at 2 p.m. throughout the month of March, each covering a different challenge faced by future retirees.
That consistency will increase the likelihood that clients will attend.
2. Trying to make a sale
If you push products at a seminar, you will drive your audience away, whether they’re prospects or clients.
A group setting is not a good the environment for selling because individuals have different needs, Nelson says. “The seminar is really just an appointment-setting device.”
Instead, focus on topics that will resonate with your audience.
Cramer suggests retirement planning, tax planning or investing amid a low interest-rate economy as the kinds of themes you might address in a seminar.
3. Too many presenters
Like too many cooks in the kitchen, a multitude of speakers at a seminar can ruin the results. Although the number can vary depending on the situation, try to keep the list of speakers to two — including yourself.
It’s best if you do most of the explaining, Cramer says. But if you have a guest who’s an expert on the seminar’s topic, it’s OK to share the stage. Just make sure you have a larger role than your guest.
Also, avoid having manufacturers or wholesalers of products present at seminars, Cramer advises. They might contribute to a “sales” atmosphere, which would distract from the theme of your presentation.