Membership Growth Online Summit 2017 - Day 3: How to Turn Your Events into a Growth Engine for Your...
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Transcript of Membership Growth Online Summit 2017 - Day 3: How to Turn Your Events into a Growth Engine for Your...
Wild Apricot Expert Webinar
Build. Connect. Grow. Membership & more.
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Presented by
Summit Webinar 3
How to Turn Your Events into a Growth Engine for your Organization
Jeff Hurt
Velvet Chainsaw Consulting
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Donald CowperStory ApricotContent Manager
Your Wild Apricot Hosts
Rano GhoshInvictus Apricot
Customer Success Coach
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Your Presenter
Jeff HurtVelvet Chainsaw Consulting
Photo by Johnny Vulkan - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/26614375@N00 Created with Haiku Deck
10
Strategies For Attracting &
Growing The Right Audience
Photo by Matt. Create. - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/76583692@N00 Created with Haiku Deck
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Presenter-Attendee Agreement
Law of the Click
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Vibrate please
17
Social Sharing
welcome
Tweet Unto Others As You
Would Have Them Tweet
Unto You.
18
@JeffHurt
Tweet
Something
Good Before
You Tweet
Something
Bad
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20
Seek first to
understand
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Safe
space
to
agree,
disagree,
ponder,
& question
About Me• Coal Miner’s Grandson
• West Virginia Hillbilly
• Nonprofit Junkie
• Environmental Advocate
• Meeting & Event Professional
• Education Evangelist
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Executive Vice PresidentEducation & Engagement
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About You
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26
What is your favorite dessert?
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29
Which of these LOs
important to you?
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Your Turn
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• Gain strategies to identify & maintain
market share of economic buyers &
decision makers
• Explore how audience segmentation
is critical to conference success
• Compare acquisition costs of new
attendees vs costs of loyal attendees
Growth Growth
Increase & Sustainability
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It Happens
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Plateaus
Declining
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Plateaus
What do you currently do with
your events to create growth?
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Your Turn
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Never learned how to acquire new customers
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More than new customers –
the RIGHT customers
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Depending upon easy sale & past
marketing methods.
• Which groups do you provide
programming for at your
conference?
Small Group Discussion
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Shotgun Approach
All things to all
people
Big box department store
discounted quantity for masses
Who decides content/speakers
for those groups?
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Your Turn
Content defined by committees
Laser approachHighly amplifiedCoherent focused beam
• What is the primary objective
of most conferences?
Small Group Discussion
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Revenue - profits
Revenue - profits
Monetize over a long time period
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Product Centricity
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Product Centricity
More product you sell, cheaper it
becomes to produce, sell more &
make more money
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Most Conferences Have Product Centricity Mentality
The more content offered for all
stakeholders more likely people will
register
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Product Centricity – Shampoo Model
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Create a conference.
Market the conference.
Sell the conference.
Repeat.
Product Centricity
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Tweak conference slightly
Product Centricity
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Cracks in Product Centricity
Attendees:
1. Demanding better experience.
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Cracks in Product Centricity
Attendees:
2. Expect better ROI.
1. Demanding better experience.
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Cracks in Product Centricity
Attendees:
2. Expect better ROI.
3. Like free agents, loyalty is fickle.
1. Demanding better experience.
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Product Centricity Vulnerable
vulnerable than in past.
Way you’re planning conferences more
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In The Past - Stacked Deck
Expertise in industry.
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In The Past - Stacked Deck
Expertise in industry.
Info delivery models that secured market share.
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In The Past - Stacked Deck
Expertise in industry.
Few competitors
Info delivery models that secured market share.
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Perfect Storm
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Perfect Storm
1. Easy access to experts today.
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Perfect Storm
1. Easy access to experts today.
2. Info widely available online.
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Perfect Storm
1. Easy access to experts today.
3. Increased competitors.
2. Info widely available online.
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Not all registrants created equally
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Customer Centricity
What does customer centricity
mean to you and your events?
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Your Turn
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Customer Centricity
strategic advantage.
Focusing on the right customer for
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Customer Centricity
Not a philosophy
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Customer Centricity
Not a philosophy
Not customer service
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Customer Centricity
Not a philosophy
Not customer service
Not being nice to customers
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Customer Centricity
Cannot be fostered via mission/guide
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Customer Centricity
Cannot be fostered via mission/guide
Strategy: align topics with needs,solutions for most valuable customers
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Customer CentricityAim: more profits for the long term
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Is customer always right?
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Is customer always right?Right customer always right!
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Two Types Of Conf Customers
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Two Types Of Conf Customers
1. Good customers
2. Everyone else
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Your Org Better Served If
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Your Org Better Served If
1. Spent more time on attracting right, good customers for your conference.
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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.
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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?
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Your Turn
Economic Buyers
Decision-MakersEconomic Buyers
Decision-MakersMarket to grow
Economic Buyers
• Are these companies customer centric?
Nordstrom
Starbucks
Walmart
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Your Turn
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Customer Centric?
Nordstrom, Starbucks, Walmart don’t collect long-term data about their loyal customers.
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Customer Centric?
Nordstrom, Starbucks, Walmart don’t collect long-term data about their loyal customers.
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Identifying Right Customers
Requires data collection
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Identifying Right Customers
Requires data collection
Collecting, tracking & monitoring
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Identifying Right Customers
Requires data collection
Collecting, tracking & monitoring
Past purchasing habits
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Identifying Right Customers
Requires data collection
Collecting, tracking & monitoring
Past purchasing habits
Investing in tech & staff to collect, sort
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Product Centric Conferences
Develop and sell education sessions
they think their customers want.
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Flip The Conference Model
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Flip The Conference Model
Customer Centric Conferences develop
& sell education sessions they KNOW
their customers want.
104
Flip The Conference Model
Content satisfies a pain point
Provides relevant solutions to problems
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Flip The Conference Model
Content satisfies a pain point
Provides relevant solutions to problems
Aggregation to curation
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Flip The Conference Model
Content satisfies a pain point
Provides relevant solutions to problems
Aggregation to curation
Requires audience segmentation
107
Customer Acquisition
Sales & marketing processes used
108
Customer Acquisition
Sales & marketing processes used
Includes staff time & benefits
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Customer Acquisition
Sales & marketing processes used
Includes staff time & benefits
Web, print, postage, pr, social media
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Costs 6-7 X more than loyal customers
New Customer Acquisition
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Revenue: $1,116,338
Attendees: 1,600
Conference Example
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Revenue: $1,116,338
Attendees: 1,600
Conference Example
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Conference Example
Revenue: $1,116,338
Marketing: $342,000
Speakers: $70,000
Attendees: 1,600
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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
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Acquisition Cost Of New Customer Vs Loyal Ones
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Most orgs do not measure LTV
LTV: Life Time Value Of A Customer
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Mailbox members/customers
Most orgs do not measure LTV
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Total number of events attended 3 yrs
Add the amount of revenue
Compare customers
Most orgs do not measure LTV
LTV: Life Time Value
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Unbalanced Conference Model
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Balanced Conference Model
For Conference Growth?Who Is Your Ideal Target Market
Your Turn
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Thank You
• dmourati
• loungeri
• Leo Reynolds
• Vizzzual.com
• Eiser Bahner
• Kehm
• Kevin Rouhte
• Gin_able
• Abbyladybug
• vermininc
• Johnny Vulcan
• neys
• coofdy
• clagnut
• sanctu
• Jeremy Brooks
• minipixel
• stevendpalo
• maubrowncow
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Group
facebook.com/groups/WildApricotTribe
Wild Apricot Academy
wildapricot.com/academy
#1 Membership Management Software
Provider
www.wildapricot.com
Wild Apricot Expert Webinar
Presented by
Summit Webinar 3
How to Turn Your Events into a Growth Engine for your Organization
Jeff Hurt
Velvet Chainsaw Consulting
THE
END
