You have most likely heard this proverbial percentage analogy mentioned many times in the business world. It is universally stated that 80% of the business comes from 20% of your clients, or your salespeople, or your products, your efforts and so on.
Based on that premise, I wanted to explain a similar dynamic that occurs when you are marketing your Estate Planning business (if you use public seminars to acquire new clients). At times, some tend to get concerned with the attendees that do not book appointments and believe that they were there for the wrong reasons or that they were not good prospects. Anyone who agrees to spend their valuable time coming to hear you present your services and financial strategies is there because something is wrong with their plan, they are seeking better options or because they feel it’s time to get their financial situation in order. Keep in mind; thousands of individuals procrastinate when it comes to meeting with an expert about their life savings and their private matters. So at your event it is up to you to offer value and compelling reasons for them to want to meet with you at a face to face private appointment. If you do not do that in your public seminar presentation you most likely will think that they were not qualified and that they just came to gather information or for a nice lunch or dinner if you are serving meals at your events.
Perception is not reality in this case. Think about it, who cares why they are there? Ultimately, they fit your selected ideal demographic profile: by age, income, net worth, investable assets, zip codes that you specifically targeted and finally they physically came to hear what you have to offer. Isn’t that the most ideal prospect? They came to you!
This is what you have to understand about seminar marketing…the same 80/20 rule applies here. Its simple math, 80% of your new business will come from 20% of your attendees. So, why worry about the 80% who for some reason, that afternoon or evening, did not connect with you or maybe your presentation did not answer some of the questions or doubts that they had prior to attending your event. So don’t get caught up on perception, instead, use the law of averages & numbers in your favor. Focusing on that 20% that is interested will generate lots of new clients and increase your income dramatically. Keep in mind, many of those attendees will fill your future business pipeline and can become clients if you stay in touch with them. The more people you get in front of, the more opportunities you will create…more of the right people that is. This is where data and experience becomes valuable to you. You must have “the right list, the right invitation package, the right message, the right timing, the right venues, the right times and the right presentation”. These are the critical ingredients that will bring you a continuous flow of motivated prospects and generate the most ideal marketing outcomes for you to grow your business faster.
In closing, if you are not currently using targeted direct mail to promote public seminars and grow your practice, please consider this proven formula! It is still one of the best and most effective ways to get in front of a large amount of “motivated” prospects in a very short period of time. Chasing leads and referrals are not enough to make a BIG difference in your practice. We can share various successful scenarios coming directly from many of your peers in the Academy.
Jorge Villar is President of RME360, with more than 26 years of direct marketing experience, he is known in several industries for his ability to create mail packages that garner the highest response rates. He is responsible for the Seminar Success program that for the last 17 years has accounted for more than 65% of the events being held in the nation, with over 17 million individuals making reservations. Mr. Villar has also been very successful marketing to physicians and business owners regarding Succession Planning and Asset Protection. RME360’s marketing programs are presently being utilized by over 10,000 clients, including: top producing financial advisors, estate planning attorneys, large financial organizations, health care organizations, franchises, universities and many other industries. Mr. Villar is a frequent key note speaker at national financial symposium and marketing training conferences.
Academy Guest Blogger
American Academy of Estate Planning Attorneys, Inc.
9444 Balboa Avenue, Suite 300
San Diego, California 92123
Phone: (800) 846-1555
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