Seminar Success/What day?time?

vbrainy-I have done some seminars and am just finishing the planning for a September event.  All the literature says to hold them Tuesday/Thursday.  Time depends on which age segment you are planning to target.  Dinners outdraw lunches/breakfast by far.  Here is what I got from the seminar people I am using this time.  Bear with me on the format, lol.

<p =“Msonormal”>Venue:  Local restaurants
equivalent to Outback Steakhouse that have a function room or national chains
like Outback Steakhouse, Red Lobster, Olive Garden that have a function
room.  Country Clubs don’t pull as well but may be used as a last
resort.<o:p></o:p>

NOT RECOMMENDED – Hotels, Ethnic Restaurants, Libraries, Banquet Centers, Private Clubs, Buffets, Your office, museums, art galleries

Best Days:  Tuesdays and Thursdays, followed by Wednesdays.  You should advertise 2-3 seminars in one 5,000- 7,000 piece mailing. Other days are not recommended

Dinners have out-pulled lunches 2 to 1.  Breakfasts, appetizers, high teas, refreshments, snacks only are not recommended.

Ages to prospect:  Pre-Retirees – Age 50 at an absolute minimum, but 55+ has drawn better

                                   Retirees – Ages 60-79

Income:  Pre-Retirees - $50k or $75K +

                 Retirees – $30K - $70K

                Targeting higher incomes has had an adverse impact on response

Starting Times: Pre-Retirees – Three dates at 6:30pm or Two dates at 6:30pm and 

                                                             one at 4:30pm

                              Retirees – Three dates at 4:30pm or Two dates at 4:30pm and one at

                                                    
<st1:time hour=“18” minute=“30” w:st="">6:30pm</st1:time>

If you have time i would like to hear more about tactics that work with seminars, the topic does not seem to get much attention on this site recently. do you do a mailing and have #'s to call and follow-up, or just fire out that 5000 mailings and wait and see who shows up? Sounds really expensive for the mailing. what type of results does that yield - 25 people and you close a couple or.... is that conservative or wishful?

I am relatively new to seminar gig.  I am having 3 people present, and all 3 are seasoned vets, so I have been using them, along with wholesalers to prep and gather some “best practices.”  For the first group I am sending out 7500 postcard style invites, knowing full well postcards have a small turnout than a full blown wedding style invite.  I am hoping the restaurant we are using will draw a decent amount of people to make up for the postcard style invite.
I am paying .50 per mailing, which includes design of the invite (not much, I had someone else design it from scratch so I did not use one of their cookie cutter designs), postage, and RSVP service.  I can check daily via internet who has RSVP’s and the # of projected attendees.  The service will also call them as a reminder as the seminar gets closer.  I plan on calling them myself as well the day before.
They tell me .8% response is good for a postcard.  A full blown wedding invite usually generates 1-1.1%.
Also figure food/drink is roughly $30/person after gratuity and taxes in my area.

Sunday mornings at 11am. I would rent a fellowship hall at a church.

[quote=theironhorse]I am relatively new to seminar gig.  I am having 3 people present, and all 3 are seasoned vets, so I have been using them, along with wholesalers to prep and gather some "best practices."  For the first group I am sending out 7500 postcard style invites, knowing full well postcards have a small turnout than a full blown wedding style invite.  I am hoping the restaurant we are using will draw a decent amount of people to make up for the postcard style invite.
I am paying .50 per mailing, which includes design of the invite (not much, I had someone else design it from scratch so I did not use one of their cookie cutter designs), postage, and RSVP service.  I can check daily via internet who has RSVP's and the # of projected attendees.  The service will also call them as a reminder as the seminar gets closer.  I plan on calling them myself as well the day before.
They tell me .8% response is good for a postcard.  A full blown wedding invite usually generates 1-1.1%.
Also figure food/drink is roughly $30/person after gratuity and taxes in my area.
[/quote]

I'm sure that the 3 guys who are presenting will be very grateful for the clients that they get off of your marketing money and effort.

bobby thinks seminars suck - is that the only message

yeah, he is a genius and constructive fella too. figured he’d love seminars as most VA guys use them to prey on the elderly. 
my 3 presenters are an attorney (non security licensed), a wholesaler, and an estate planning “wholesaler” who I will split the 2nd to die life with 50/50, otherwise, there will nobody taking anything from me. 
thanks for the input-now feel free to go back to perusing the RR forum another 2-3 hours replying to people who think you are an idiot.

[quote=theironhorse]yeah, he is a genius and constructive fella too. figured he'd love seminars as most VA guys use them to prey on the elderly. 
my 3 presenters are an attorney (non security licensed), a wholesaler, and an estate planning "wholesaler" who I will split the 2nd to die life with 50/50, otherwise, there will nobody taking anything from me. 
thanks for the input-now feel free to go back to perusing the RR forum another 2-3 hours replying to people who think you are an idiot.

[/quote]

The idiot is gonna be the guy at the seminar who doesnt' seem to know anything about the topic because he has to get other people to do the talking. He will be MORE of an idiot when he tries to schedule appointments and the prospects don't remember him and wonder why they should do business with a guy who doesn't know anything. Now, THAT'S an idiot!

IGNORE BOBBY HULL

IGNORE DEVILS ADVOCATE

They are not worth responding to.

Ironhorse.  Good posts and thank you.  I had not heard the Tues, Thurs were best.  The 1% response rate you quoted is the same I myself have experienced with the seminars I have done.  After they get the invitation, I try to call as many as possible.  It kinda turns a cold call into a warm call.

Prospect, Prospect, Prospect that is what we have to continually do.  And finding what works for you and what you LIKE is best.  Because if you are not doing what you like, you will not last long.

I just try to identify qualified prospects, and then work with them to make a plan that accomplishes their goals.

Some will. Some won't--next.

Keep the positive attitude.

Have a prosperous day.

He may not say it in the nicest way, but what he is saying is very true.  At a seminar, if you're not doing most of the talking, who will remember you?  If he has the 3 experts doing the presentation, why would people call him?  They will call the attorney, the CPA, or whatever.  This was something that we were cautioned about also.  If you want to get experts to speak, make sure that the crowd understands they are there to back you up. 

And

[quote=vbrainy]

IGNORE BOBBY HULL

IGNORE DEVILS ADVOCATE

They are not worth responding to.

[quote=shadow191]

He may not say it in the nicest way, but what he is saying is very true.  At a seminar, if you're not doing most of the talking, who will remember you?  If he has the 3 experts doing the presentation, why would people call him?  They will call the attorney, the CPA, or whatever.  This was something that we were cautioned about also.  If you want to get experts to speak, make sure that the crowd understands they are there to back you up. 

[/quote]

Are you saying that if you do a seminar you should sit back and wait for the phone to ring?

I've organized, participated in, authorized and observed hundreds of seminars.  Most involve having outside "experts."

The idea is for the registered person to make a follow up phone call the next day or two.

If you wait for the people who were there to call you you'll be waiting till the cows come home.

I always do most of the presentation, and I have had a good deal of training and experience in public speaking.  It has been a great way for me to get in front of people and bring on clients.

Has anyone done a live online webinar? I'm toying with doing one next month and see what kind of response I get. It will be a lot cheaper than at a restaurant.

I've done lot's of one-on-one presentations online and had very good success with it.

I'd like to hear your feedback...

My mistake, I should have rephrased that.  My point was that if he won't be remembered from the seminar, people might not be as inclined to meet with him.  He definitely should follow up with attendees.

Outside experts are great because the provide value.  Obviously if all we did was the canned "cornerstones of retirement" seminar that everyone does, no one would go.  But if he has 3 experts and he does a minimal amount of the talking, what will happen when he makes the followup calls?

[quote=DAtoo][quote=shadow191]

He may not say it in the nicest way, but what he is saying is very true.  At a seminar, if you're not doing most of the talking, who will remember you?  If he has the 3 experts doing the presentation, why would people call him?  They will call the attorney, the CPA, or whatever.  This was something that we were cautioned about also.  If you want to get experts to speak, make sure that the crowd understands they are there to back you up. 

[/quote]

Are you saying that if you do a seminar you should sit back and wait for the phone to ring?

I've organized, participated in, authorized and observed hundreds of seminars.  Most involve having outside "experts."

The idea is for the registered person to make a follow up phone call the next day or two.

If you wait for the people who were there to call you you'll be waiting till the cows come home.

[quote=EDJ to RIA]

Has anyone done a live online webinar? I'm toying with doing one next month and see what kind of response I get. It will be a lot cheaper than at a restaurant.

I've done lot's of one-on-one presentations online and had very good success with it.

I'd like to hear your feedback...

[/quote]

We have a VERY tough compliance department.  Live stuff never flies.  You have to have a preapproved script and NASD letters on everything.  It sounds fun, but pretty dangerous.

How can you be sure that attendees will be from the states you are registered in?

I think it is a big mistake to assume I am going to sit there and let everyone else present without saying a word.  I have done that before (3 years ago) and am fully aware that I need to be seen as the leader of this group, which I will be.  I will moderate the entire thing and will spend the first 7-10 minutes giving an overview of my practice and why my “group” is different.  I definitely plan on being in charge.
For this particular topic I need an attorney and someone well versed in estate planning…I will not pretend to know everything.  However, these are also people who have and do refer/split business with me.

For other, less involved seminars, ie basic investing, business owner stuff I do 75% of the speaking myself.

I would agree with BH in that you need to project to the audience that you are the expert, but that your resources allow you to bring in a select group of experts for their benefit.

You need to control the seminar, perhaps with opening/closing remarks, and some points thrown in along the way...

If you are hosting an hour long seminar, having 3 speakers plus yourself may be overkill. Perhaps you can trim one off the list and save them for a future event...

[quote=theironhorse]I think it is a big mistake to assume I am going to sit there and let everyone else present without saying a word.  I have done that before (3 years ago) and am fully aware that I need to be seen as the leader of this group, which I will be.  I will moderate the entire thing and will spend the first 7-10 minutes giving an overview of my practice and why my "group" is different.  I definitely plan on being in charge.
For this particular topic I need an attorney and someone well versed in estate planning......I will not pretend to know everything.  However, these are also people who have and do refer/split business with me.

For other, less involved seminars, ie basic investing, business owner stuff I do 75% of the speaking myself.
[/quote]

I assumed it because you said it. Are you lying about being "relatively new" to seminars? I'm sure your "team" members are quite pleased that you are prospecting for them.

Blarm, honestly, just ignore these strange creatures and do not respond to them.  They just try to get people mad and take us off the subject.

Back to the adult conversation;  If you have had success with seminars tell us about it.

One thing about forums, people read something and then make it "say" whatever they want to.  Can't believe I am having to EXPLAIN this to people.

Seminar will start with me speaking for 7-10 minutes.  Overview, how I personally am bringing this group of experts together, etc etc.  Presenter, me, presenter, me, presenter, me closing.  My "in between" parts will be 1-2 minutes tops.

I did a group of 5 seminars 3 years ago with 3 other people.  I did little to nothing presentation wise, but shared in the profits of the subsequent business.  I moved to another company, did no seminars during that timeframe, and am now back to organizing them, this time completely directed by me, at my new indy firm.

Now for the less involved seminars, I should have said I PLAN on doing 75% of the speaking.  Those are set to happen in October.

And I am in essence prospecting for the group, but the attorney will only get attorney fees, nothing else.  The wholesaler is only going to position me as the expert, so no sharing of revenue there.  And the 3rd guy, essentially the life expert, will split the life business with me 50/50 and anything else, managed money, va, ltc, etc etc will be 100% mine.  The 3rd guy is a great friend/colleague I have worked with for 7 years-I do not see any chance of losing $ to him.

good deal.  do you do anything special with the invitations?  do you use a response card or have them call in their RSVP?

People talk about using real stamps, but i have not seen a difference in the response rate with stamps.

Please pay attention.

The best day for seminars is Tuesday.  This buys you three days to confirm your appointments after the event.  Don't try to do on the spot, have them indicate the best day and time with their schedule and call the next morning at 8:30am to confirm.  Repeat the call at 12:00 and 5:00pm if they are not available.  Your last calls should be at 7:00pm and if they do not answer leave a message with the time and date of the appointment.  Send confirm letters with a map to your office.

The best time is from 4:30 to 6:00.  Serve dinners, your cost will be higher but your ROI will be as well.

NEVER USE CHAIN RESTAURANTS LIKE SOMEONE SUGGESTED.  Find a local upscale restaurant that has a banquet/private room.  If none such exist, think of the place the wealthiest families in your city would host a wedding reception.  Country Clubs will work just fine as will upscale hotels (Ritz, etc.).  Avoid your conference room at all cost.

Don't use multiple day offers from one invitation.  It will be a waste of your time and people will feel more comfortable in a room of 50 or more rather than 15.  All mutiple day offers accomplish is the company that does your mailer will have a higher probability of acheiving a stupid percentage response.  This will cost you money which is why it is stupid.

NEVER EVER SHARE THE PODIUM!  Guest speakers are absolutely worthless and will detract from your effectiveness monumentally.  Especially never use wholesalers as speakers.  The impression you will give your audience is:  "hmm...the guest expert is an expert on xyz mutual funds, I'm glad I came, zzzzzzzz".

The best topics are the topics that keep your prospects up at night either out of fear or excitement.  If you can find out what these items are and offer a solution people will come to your seminar.  Never mention product in your presentation.

The most important aspect of your seminar success is the invitation.  Don't design it yourself or hire a graphic designer to do it.  Use a professional copywriter.  You could bid out the copy design on elance or buy a system.  Don't use the crap the mailhouses offer as it will be the exact same garbage every baby boomer and senior gets five times per week in the mail and drops directly into the garbage...unless of course they're looking for a meal on your dime.

When you ask for seminar advice - maybe preface the question by only asking people who've done them successfully to respond.

Follow these rules (and many more I don't feel like typing), do at least 3 events and wait 6 months to guage your results.  Seminars work very well if done correctly and every geographic and demographic will require some tweaking.  Good luck!

not trying to be a smarta**, but how are you a brandnewadvisor but an expert on seminars?  just curious, I am looking for any and all helpful advice, but am curious as to your "story."
thanks

[quote=malcom]

If you have time i would like to hear more about tactics that work with seminars, the topic does not seem to get much attention on this site recently. do you do a mailing and have #'s to call and follow-up, or just fire out that 5000 mailings and wait and see who shows up? Sounds really expensive for the mailing. what type of results does that yield - 25 people and you close a couple or.... is that conservative or wishful?

[/quote]

I can fire out 1000 and my branch pays for them.  Some wholesalers will also reimburse you.  I wait to see what comes back, and call in between.

Rough numbers are 1% just from mail and 2 to 3% with calls.

The most important aspect of your seminar success is the invitation.  Don't design it yourself or hire a graphic designer to do it.  Use a professional copywriter.  You could bid out the copy design on elance or buy a system.  Don't use the crap the mailhouses offer as it will be the exact same garbage every baby boomer and senior gets five times per week in the mail and drops directly into the garbage...unless of course they're looking for a meal on your dime.

The above is stupid advice.

Invitations you receive from wholesalers and annuity companies have EXPERT PROFESSIONALS designing them.  They know how to reach people and they want to reach people.  You are supposed to be a FA, not a writer or designer.  Plus, they are already compliance approved.

But, you gotta use envelopes.  Postcards don't even make it in the house.

[quote=vbrainy]

The most important aspect of your seminar success is
the invitation.  Don’t design it yourself or hire a graphic
designer to do it.  Use a professional copywriter.  You could
bid out the copy design on elance or buy a system.  Don’t use the
crap the mailhouses offer as it will be the exact same garbage every
baby boomer and senior gets five times per week in the mail and drops
directly into the garbage…unless of course they’re looking for a meal
on your dime.

The above is stupid advice.

Invitations you receive from wholesalers and annuity companies have EXPERT PROFESSIONALS designing them.  They know how to reach people and they want to reach people.  You are supposed to be a FA, not a writer or designer.  Plus, they are already compliance approved.

But, you gotta use envelopes.  Postcards don't even make it in the house.

Well, listen, it is all about getting in front of people and telling your story.  It doesn't matter how you do it, as long as you ENJOY it (or you won't do it long) and you are GOOD at it (or you are just wasting everyone's time).

I have to disagree that HNW don't respond, they do.  It is a great way for them to test the waters with another broker/firm.

And rich people are CHEAP.  They love a free meal.

Now Carpe Diem

[quote=vbrainy]

Well, listen, it is all about getting in front of people and telling your story.  It doesn't matter how you do it, as long as you ENJOY it (or you won't do it long) and you are GOOD at it (or you are just wasting everyone's time).

I have to disagree that HNW don't respond, they do.  It is a great way for them to test the waters with another broker/firm.

And rich people are CHEAP.  They love a free meal.

Now Carpe Diem

[/quote]

Often HNW people are not who you expect.  Theyare not always the lawyer/doctor/attorney.  Sometimes they owned garages, convenience stores, manufacturing firms, etc.  Sometimes they just saved and invested ferociously.  This sounds like a bad infomercial for the Millionaire Next Door, but it's actually pretty true.  Unless you do the country club/marina/tennis club prospecting thing, or you live in Sillicon Valley, chances are your HNW people are pretty normal people.  Also, I have found many business owners and "frugal" wealthy people to be very insular about their money.  Often, they don't even have advisors, their money is at the bank in CD's and annuities because they never trusted anyone else with it.  Now they are older and realize it is time to move on with some real planning as they enter their retirement years.

IRONHORSE WROTE:

not trying to be a smarta**, but how are you a brandnewadvisor but an expert on seminars?  just curious, I am looking for any and all helpful advice, but am curious as to your "story."
thanks

*****

New to forum - not to business or seminars.

Also, to the moron who thinks that fund company/wholesaler invitations work because they hire it out professionally: your stupid.  They're done in-house by someone who's generally just out of college, has never done a seminar, know's nothing about what prospective clients are looking for and are biased toward their firms products.  All things that will get an awesome response.

To the moron who says postcards don't work:  explain why millions of them get mailed everyday.  They work about 1/2 to 1/3 as well as a first class envelope mailing but cost 1/4.  So they work as long as your market is large enough to support a very large mailing (10k plus) on a regular basis.  In more modest markets the only way to get response without total saturation is with something in an envelope.

Most of the regular posters here seem to ask good questions or are obviously goofing off.  Then some idiot posts something as though they actually have an idea what works (which the don't) and clearly are a moron.  Just calling em' like I see em'.

[quote=brandnewadvisor]

Most of the regular posters here seem to ask good questions or are obviously goofing off.  Then some idiot posts something as though they actually have an idea what works (which the don't) and clearly are a moron.  Just calling em' like I see em'.

[/quote]

Not impressed by what I have seen from you so far.  I put you at about 22 years old and 2 weeks from getting fired.

Just an fyi update concerning my recent seminars.  Mailed out 7400 postcards in black/white only, held the events at a high(er) quality restaurant, on a thur/tue/thur deal-they could choose 1 of 3 nights.  Turnout was 22/14/19 for the 3 days.  Am doing follow-up calls today and this week for appointments, will let you know.
I used RME for the whole deal, but I did design my own invites.  3 speakers, a vendor/estate attorney/myself.
My only criteria was age 55+, $250,000 net worth.

[quote=theironhorse]Just an fyi update concerning my recent seminars.  Mailed out 7400 postcards in black/white only, held the events at a high(er) quality restaurant, on a thur/tue/thur deal-they could choose 1 of 3 nights.  Turnout was 22/14/19 for the 3 days.  Am doing follow-up calls today and this week for appointments, will let you know.
I used RME for the whole deal, but I did design my own invites.  3 speakers, a vendor/estate attorney/myself.
My only criteria was age 55+, $250,000 net worth.
[/quote]

They don't call you Iron Horse for nothing.  Whoosh.  Lots of work, let us know what and how you close.

Best of luck.

[quote=theironhorse]Just an fyi update concerning my recent seminars.  Mailed out 7400 postcards in black/white only, held the events at a high(er) quality restaurant, on a thur/tue/thur deal-they could choose 1 of 3 nights.  Turnout was 22/14/19 for the 3 days.  Am doing follow-up calls today and this week for appointments, will let you know.
I used RME for the whole deal, but I did design my own invites.  3 speakers, a vendor/estate attorney/myself.
My only criteria was age 55+, $250,000 net worth.
[/quote]

What was your cost?

List, invites/postage, meals, etc.?

50 cents per invite, which includes postage, rsvp-everything done via web with rme.  i picked up 1 meal, $600.  vendor picked up the other 2.  biggest unexpected cost was the 25 page color packet of the presentation we made.  wife printed it off at work(she did the design work-she is a graphic designer by trade), copyworks bound it for $4 apiece.  

[quote=vbrainy][quote=brandnewadvisor]

Most of the regular posters here seem to ask good questions or are obviously goofing off.  Then some idiot posts something as though they actually have an idea what works (which the don't) and clearly are a moron.  Just calling em' like I see em'.

[/quote]

Not impressed by what I have seen from you so far.  I put you at about 22 years old and 2 weeks from getting fired.

Truly intelligent prose, the type that has made this sight (in)famous, and dying.

I’m looking for help. You and Iron horse seem like you have some experience I can benefit from. Where do you get your leads and what is your cost. Copyrighters will probably not happen since I am with a wirehouse.

i bet the 81 cents is for color and/or envelope style invite.  i used black/white postcard and it worked fine.  the invite was nothing too fancy at all.  i firmly believe the main draw was the restaurant.  do not skimp there at all.  i could be wrong but believe people viewed us as more "professional," right or wrong by what venue we chose.

i simply bought the lists from whoever rme used.  gave them my parameters and went from there.  it is simply a numbers game, there is no magic bullet.

The Iron Horse,

Look, I just wanted to throw my 2 pennies here.

I don't think where you get the leads is important. D&B is what most folks here use, but I am told by another vendor that they sell to D&b. Just do it.

I am thinking about doing seminars and the more I think about it I am kicking myself for not having done them yet. It hit me while reading, " The Emotional Dynamic" by Frank Maselli.

[quote=Joe2121]I am thinking about doing seminars and the more I think about it I am kicking myself for not having done them yet. It hit me while reading, " The Emotional Dynamic" by Frank Maselli.

You are absolutely right. I figure if I can add seminars it will most effectively increase my quality and quantity of contacts.

[quote=Joe2121]I am thinking about doing seminars and the more I think about it I am kicking myself for not having done them yet. It hit me while reading, " The Emotional Dynamic" by Frank Maselli.

I don’t think he is. Preparing a seminar is time consuming, but he isnt counting all of the time spent on the phone trying to reach people who you never talk to.

So the prep time for the seminar matches up with the phone time used trying to reach people to speak with.

What prep time?  Tell your assistant that you want to do a seminar.  She says when.  You tell her.  She says where.  You tell her to figure that out.  She says what topic.  You tell her the topic and the kind of people you want there.  She preps invitations, makes the invitation calls (if that’s the way you roll), gets compliance approval, books the wholesaler (who pays for the majority of it), gets materials together, books the meeting place, and answers the phone to take reservations and/or answer questions.  You show up, speak, set appointments, answer questions, shake some hands, and go home. 

If you host a seminar in which the FA is speaking for 30-40 minutes and a wholesaler is giving a 10-15 minute market update and dinner is also served, in what order should everything occur ?