High Trust BNI

What is the key to a successful live event?

Let’s face it, the economy is not the same as it was 6 months ago.  People are becoming a lot pickier with their time and money.  I work with a ton of professional speakers.  Many of them are telling me how different it is to speak.  Events that would usually have 400-500 people are lucky to get 100 people.

Everything seems to be shifting online.  Having produced several live events, I still feel you can have a successful and profitable event.  A friend of mine asked me about this and here is what I had to say:

What is the key to pulling off a successful event (content & guest speakers)

Understanding what your target market wants and giving it to them.
There are several key pieces to having a successful event:

1. The right message for the right audience
2. The best speakers (you can get top speakers if you can book
   seats) Then you do a split with them. They pay their own way…..you
   share in the sales they make.
3. GREAT and ample marketing. Typically it can take 3-4 months to
   put people into seats. Just depends on how big your network is to
   start. Many times you can find people with large databases to
   promote the event for a split of ticket sales. I would keep the
   seats a low price with high value to have more people in a room.
4. Good use of time. Right now, people don’t want to have to spend
   a lot of time away.  I would consider doing a one day event, you can
   realistically have 4 speakers for the day. I would offer networking
   opportunities before, during and after the event to help boost
   attendance. You might want to offer a lunch so people can quickly
   get in and out of lunch and network together.
5. Powerful branding…..the more people feel they understand
   you….the more you will sell.
6. Follow up, follow up, follow up – when I book an event (and I
   have done many) I follow up with the attendees several times before
   the event to ensure we have the maximum attendance. People forget
   why it was so important to show up. My messages get progressively
   more energetic the closer an event comes.

Can you actually turn a profit from holding and event? YES!

1. You can make money from ticket sales.  Again keep it low so you
   can increase attendance. Even if you do a 50/50 split with people to
   promote the event, you should easily be able to cover your costs
   plus a little extra with a well attended event. Shoot for 300 people
   and you will hopefully get 100. You can offer attendees to bring a
   friend, business associate or family member for half off or for free
   to boost attendance.
2. You can make money from each speaker.  Most likely, this is
   where you will make the most money.  At least you should depending
   on how experienced your speakers are.  Right now, you can get pretty
   amazing speakers if you have a well attended event.   Do a 50/50
   split and have them offer packages from $497 and higher. I would do
   a big bonus for anyone getting the whole package.  Meaning, if they
   purchase all packages you have a huge bonus for them.
3. You can sell your next event and keep the excitement and
   momentum going.

What is your experience with live events?  Are you more likely to
attend a free webinar or attend a live event?