strategies for attracting and growing the right audience

1

Strategies For Attracting &

Growing The Right Audience

3

4

5

Growth Growth

Increase & Sustainability

10

It Happens

11

Plateaus

Declining

12

Plateaus

13

Never learned how to

acquire new customers

14

More than new

customers – the RIGHT customers

15

Depending upon easy sale

& past marketing methods.

• Which groups do you provide

programming for at your

conference?

• Who decides content/speakers

for those groups? 16

Shotgun Approach

All things to all

people

Big box department store

discounted quantity for masses

Content defined by committees

Laser approach

Highly amplified

Coherent focused beam

• What is the primary objective

of most conferences?

22

Revenue - profits

Revenue - profits

Monetize over a long time period

25

Product Centricity

26

Product Centricity

More product you sell, cheaper it

becomes to produce, sell more &

make more money

27

Most Conferences Have Product Centricity Mentality

The more content offered for all

stakeholders more likely people will

register

28

Product Centricity – Shampoo Model

29

Create a conference.

Market the conference.

Sell the conference.

Repeat.

Product Centricity

30

Tweak conference slightly

Product Centricity

31

Cracks in Product Centricity

Attendees:

1. Demanding better experience.

32

Cracks in Product Centricity

Attendees:

2. Expect better ROI.

1. Demanding better experience.

33

Cracks in Product Centricity

Attendees:

2. Expect better ROI.

3. Like free agents, loyalty is fickle.

1. Demanding better experience.

34

Product Centricity Vulnerable

vulnerable than in past.

Way you’re planning conferences more

35

In The Past - Stacked Deck

Expertise in industry.

36

In The Past - Stacked Deck

Expertise in industry.

Info delivery models that secured market share.

37

In The Past - Stacked Deck

Expertise in industry.

Few competitors

Info delivery models that secured market share.

38

Perfect Storm

39

Perfect Storm

1. Easy access to experts today.

40

Perfect Storm

1. Easy access to experts today.

2. Info widely available online.

41

Perfect Storm

1. Easy access to experts today.

3. Increased competitors.

2. Info widely available online.

42

Not all registrants created equally

43

Customer Centricity

44

Customer Centricity

strategic advantage.

Focusing on the right customer for

45

Customer Centricity

Not a philosophy

46

Customer Centricity

Not a philosophy

Not customer service

47

Customer Centricity

Not a philosophy

Not customer service

Not being nice to customers

48

Customer Centricity

Cannot be fostered via mission/guide

49

Customer Centricity

Cannot be fostered via mission/guide

Strategy: align topics with needs, solutions for most valuable customers

50

Customer Centricity Aim: more profits for the long term

51

Is customer always right?

52

Is customer always right?

Right customer always right!

53

Two Types Of Conf Customers

54

Two Types Of Conf Customers

1. Good customers

2. Everyone else

55

Your Org Better Served If

56

Your Org Better Served If

1. Spent more time on attracting right, good customers for your conference.

57

Your Org Better Served If

1. Spent more time on attracting right, good customers for your conference.

2. Right customers hold key for long term profitability.

58

Your Org Better Served If

1. 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.

• How would you identify the

right customer for your

conference planning?

59

Economic Buyers

Decision-Makers

Economic Buyers

Decision-Makers

Market to grow

Economic Buyers

• Are these companies customer

centric?

Nordstrom

Starbucks

Walmart 63

64

Customer Centric?

Nordstrom, Starbucks, Walmart don’t collect long-term data about their loyal customers.

65

Customer Centric?

Nordstrom, Starbucks, Walmart don’t collect long-term data about their loyal customers.

66

Identifying Right Customers

Requires data collection

67

Identifying Right Customers

Requires data collection

Collecting, tracking & monitoring

68

Identifying Right Customers

Requires data collection

Collecting, tracking & monitoring

Past purchasing habits

69

Identifying Right Customers

Requires data collection

Collecting, tracking & monitoring

Past purchasing habits

Investing in tech & staff to collect, sort

70

Product Centric Conferences

Develop and sell education sessions

they think their customers want.

71

Flip The Conference Model

72

Flip The Conference Model

Customer Centric Conferences develop

& sell education sessions they KNOW

their customers want.

73

Flip The Conference Model

Content satisfies a pain point

Provides relevant solutions to problems

74

Flip The Conference Model

Content satisfies a pain point

Provides relevant solutions to problems

Aggregation to curation

75

Flip The Conference Model

Content satisfies a pain point

Provides relevant solutions to problems

Aggregation to curation

Requires audience segmentation

76

Customer Acquisition

Sales & marketing processes used

77

Customer Acquisition

Sales & marketing processes used

Includes staff time & benefits

78

Customer Acquisition

Sales & marketing processes used

Includes staff time & benefits

Web, print, postage, pr, social media

79

Costs 6-7 X more than loyal customers

New Customer Acquisition

80

Revenue: $1,116,338

Attendees: 1,600

Conference Example

81

Revenue: $1,116,338

Attendees: 1,600

Conference Example

82

Conference Example

Revenue: $1,116,338

Marketing: $342,000

Speakers: $70,000

Attendees: 1,600

83

Conference Example

Revenue: $1,116,338

Marketing: $342,000

Speakers: $70,000

Attendees: 1,600

Marketing is $214 per attendee

Experience is $44 per attendee

84

Acquisition Cost Of New Customer Vs Loyal Ones

85

Most orgs do not measure LTV

LTV: Life Time Value Of A Customer

86

Mailbox members/customers

Most orgs do not measure LTV

87

Total number of events attended 3 yrs

Add the amount of revenue

Compare customers

Most orgs do not measure LTV

LTV: Life Time Value

88

Unbalanced Conference Model

89

Balanced Conference Model

For Conference Growth?

Who Is Your Ideal Target Market

91

92

93

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