Strategies for Attracting and Growing the Right Audience

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You seldom awake in the morning with people waving money in your face to register for your event. There comes a time in every conference's history when there is a need to identify and pursue the right markets for conference growth and sustainability. Instead of trying to be all things to all people and offer something for everyone, organizers need to focus programming and services that attract the top three audience segments of economic buyers and decision makers.

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Strategies for Attracting and Growing the Right Audience

  1. 1. Strategies For Attracting & Growing The Right Audience 1
  2. 2. 3
  3. 3. 4
  4. 4. 5
  5. 5. Growth Growth
  6. 6. Increase & Sustainability
  7. 7. It Happens 10
  8. 8. PlateausDeclining 11
  9. 9. Plateaus 12
  10. 10. Never learned how to acquire new customers 13
  11. 11. More than newcustomers – the RIGHT customers 14
  12. 12. Dependingupon easy sale & past marketing methods. 15
  13. 13. • Which groups do you provide programming for at your conference?• Who decides content/speakers for those groups? 16
  14. 14. ShotgunApproach
  15. 15. Allthings to allpeople
  16. 16. Big box department store discounted quantity for masses
  17. 17. Content defined by committees
  18. 18. Laser approachHighly amplifiedCoherent focused beam
  19. 19. • What is the primary objective of most conferences? 22
  20. 20. Revenue - profits
  21. 21. Revenue - profitsMonetize over a long time period
  22. 22. Product Centricity 25
  23. 23. Product CentricityMore product you sell, cheaper itbecomes to produce, sell more &make more money 26
  24. 24. Most Conferences Have Product Centricity MentalityThe more content offered for allstakeholders more likely people willregister 27
  25. 25. Product Centricity – Shampoo Model 28
  26. 26. Product CentricityCreate a conference.Market the conference.Sell the conference.Repeat. 29
  27. 27. Product CentricityTweak conference slightly 30
  28. 28. Cracks in Product CentricityAttendees:1. Demanding better experience. 31
  29. 29. Cracks in Product CentricityAttendees:1. Demanding better experience.2. Expect better ROI. 32
  30. 30. Cracks in Product CentricityAttendees:1. Demanding better experience.2. Expect better ROI.3. Like free agents, loyalty is fickle. 33
  31. 31. Product Centricity VulnerableWay you’re planning conferences morevulnerable than in past. 34
  32. 32. In The Past - Stacked DeckExpertise in industry. 35
  33. 33. In The Past - Stacked DeckExpertise in industry.Info delivery models that securedmarket share. 36
  34. 34. In The Past - Stacked DeckExpertise in industry.Info delivery models that securedmarket share.Few competitors 37
  35. 35. Perfect Storm 38
  36. 36. Perfect Storm1. Easy access to experts today. 39
  37. 37. Perfect Storm1. Easy access to experts today.2. Info widely available online. 40
  38. 38. Perfect Storm1. Easy access to experts today.2. Info widely available online.3. Increased competitors. 41
  39. 39. Not all registrants created equally 42
  40. 40. Customer Centricity 43
  41. 41. Customer CentricityFocusing on the right customer for strategic advantage. 44
  42. 42. Customer CentricityNot a philosophy 45
  43. 43. Customer CentricityNot a philosophyNot customer service 46
  44. 44. Customer CentricityNot a philosophyNot customer serviceNot being nice to customers 47
  45. 45. Customer CentricityCannot be fostered via mission/guide 48
  46. 46. Customer CentricityCannot be fostered via mission/guideStrategy: align topics with needs,solutions for most valuable customers 49
  47. 47. Customer CentricityAim: more profits for the long term 50
  48. 48. Is customer always right? 51
  49. 49. Is customer always right?Right customer always right! 52
  50. 50. Two Types Of Conf Customers 53
  51. 51. Two Types Of Conf Customers1. Good customers2. Everyone else 54
  52. 52. Your Org Better Served If 55
  53. 53. Your Org Better Served If1. Spent more time on attracting right, good customers for your conference. 56
  54. 54. Your Org Better Served If1. Spent more time on attracting right, good customers for your conference.2. Right customers hold key for long term profitability. 57
  55. 55. Your Org Better Served If1. Spent more time on attracting right, good customers for your conference.2. Right customers hold key for long term profitability.3. Right customers give strategic advantage over competition. 58
  56. 56. • How would you identify the right customer for your conference planning? 59
  57. 57. Economic Buyers
  58. 58. Economic BuyersDecision-Makers
  59. 59. Economic BuyersDecision-MakersMarket to grow
  60. 60. • Are these companies customer centric? Nordstrom Starbucks Walmart 63
  61. 61. Customer Centric?Nordstrom, Starbucks, Walmart don’tcollect long-term data about their loyalcustomers. 64
  62. 62. Customer Centric?Nordstrom, Starbucks, Walmart don’tcollect long-term data about their loyalcustomers. 65
  63. 63. Identifying Right CustomersRequires data collection 66
  64. 64. Identifying Right CustomersRequires data collectionCollecting, tracking & monitoring 67
  65. 65. Identifying Right CustomersRequires data collectionCollecting, tracking & monitoringPast purchasing habits 68
  66. 66. Identifying Right CustomersRequires data collectionCollecting, tracking & monitoringPast purchasing habitsInvesting in tech & staff to collect, sort 69
  67. 67. Product Centric ConferencesDevelop and sell education sessionsthey think their customers want. 70
  68. 68. Flip The Conference Model 71
  69. 69. Flip The Conference ModelCustomer Centric Conferences develop& sell education sessions they KNOWtheir customers want. 72
  70. 70. Flip The Conference ModelContent satisfies a pain pointProvides relevant solutions to problems 73
  71. 71. Flip The Conference ModelContent satisfies a pain pointProvides relevant solutions to problemsAggregation to curation 74
  72. 72. Flip The Conference ModelContent satisfies a pain pointProvides relevant solutions to problemsAggregation to curationRequires audience segmentation 75
  73. 73. Customer AcquisitionSales & marketing processes used 76
  74. 74. Customer AcquisitionSales & marketing processes usedIncludes staff time & benefits 77
  75. 75. Customer AcquisitionSales & marketing processes usedIncludes staff time & benefitsWeb, print, postage, pr, social media 78
  76. 76. New Customer AcquisitionCosts 6-7 X more than loyal customers 79
  77. 77. Conference ExampleAttendees: 1,600Revenue: $1,116,338 80
  78. 78. Conference ExampleAttendees: 1,600Revenue: $1,116,338 81
  79. 79. Conference ExampleAttendees: 1,600Revenue: $1,116,338Marketing: $342,000Speakers: $70,000 82
  80. 80. Conference ExampleAttendees: 1,600Revenue: $1,116,338Marketing: $342,000Speakers: $70,000Marketing is $214 per attendeeExperience is $44 per attendee 83
  81. 81. Acquisition Cost Of NewCustomer Vs Loyal Ones 84
  82. 82. Most orgs do not measure LTVLTV: Life Time Value Of A Customer 85
  83. 83. Most orgs do not measure LTVMailbox members/customers 86
  84. 84. Most orgs do not measure LTVLTV: Life Time ValueTotal number of events attended 3 yrsAdd the amount of revenueCompare customers 87
  85. 85. Unbalanced Conference Model 88
  86. 86. Balanced Conference Model 89
  87. 87. Who Is Your Ideal Target MarketFor Conference Growth?
  88. 88. 91
  89. 89. 92
  90. 90. 93
  91. 91. • dmourati • Jeremy Brooks • Kayser1• loungeri • minipixel • Corporate Monkey• Leo Reynolds • stevendpalo • eMagic• Vizzzual.com • maubrowncow • Mad-King• Eiser Bahner • AESUM • Bobby Gret• Kehm • Brutualsocal • Stevetookit• Kevin Rouhte • loriegreig • twm1340• Gin_able • kahlladibath • ChicagoGeek• Abbyladybug • pouwerk • Jesse Draper• vermininc • yersinia • Storybehind• Johnny Vulcan • greekadman • Moriza• neys • Naill Kennedy • Juhansonin• coofdy• clagnut • jordigrails• sanctu • gino
  92. 92. jhurt@velvetchainsaw.com velvetchainsaw.com @JeffHurt

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