I keep geting pushed by my marketing orginazation to start doing seminar's and my thinking is that the time has passed on this method, based on current expense's,etc. I thought a mailer for one on one dinner meetings sounded like a better idea, any feedback from those of you that have tried one or both are appreciated.
Annuity seminars can be productive if you have the funds to do it up right. Think $5,000 and up.
You still have compliance issues and all the bad press, particularly if you are targeting retirees.
Some companies that were pushing seminars hot & heavy a few years ago seem to have backed off considerably.
Two, maybe three years ago a buddy and I decided to give one of these seminar companies a shot. We split the cost of the names and the company was going to call & set up the seminar in exchange for a cut of the commission.
After calling around 800 folks and only getting 2 who agreed to come to the meeting they gave up.
I stopped doing them 9 months ago. I did 50+ the 12 months prior. They are expensive and there is a learning curve. I used Seminars for Less for a lot of them and prior to that I used RME.
Generally you set 3 dates per mailing. Tuesday, Thursday, Tuesday works well. Lunch is not as effective as dinner. I had attendances from 70 -12, but generally had between 30-40 each seminar. The restaurant is the draw, not you.
The entire purpose of the seminar is to set appts at the seminar. If you are not effective at that and have a good system to get the appts set before they leave the restaurant, you are wasting your time and a ton of money.
It is not a simple business and it has been worn out by the firms that do it constantly. My attendance started slipping and I wasnt willing to go any further away from home, so I went back to working mailings and referrals.
I tried informational meetings without serving a meal. Unless you are a well known author, celebrity or superstar, it doesn't work.
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Chuck
If you think your boss is stupid, remember: you wouldn't have a job if he was any smarter.”
I do "Community" Seminars. I don't buy lunch, I just provide information. I don't get company specific. I just cover the basics, and go over some additions that someone not in the industry would not know.
I do this at Libraries, and get invited back each and every quarter. My attendance is anywhere between 8 and 20 people, depending on the topic and the day.
About 35% have turned into Health/LTC/Medicare Clients, and have gotten some referrals from others that have NOT done business with me.
There is also a group here called PALS (Perimeter Adult Learning Services) that I speak at as well. I am also speaking to my parents' condominium group in October.
None of these cost me a dime, and I get a steady stream of business and referrals. Maybe not the volume you guys expect, but hey, I'm also not shelling out several grand.
I am currently working with a Business Coach, preparing a series of workshops (Webinars) aimed at the small business market. It helps to work with affiliated partners.
So, you guys keep buying leads, and hiring telemarketers. Leave the seminars to me. OK?
Well I am doing well as it is, not looking to waste money,just looking to take it to the next level so to speak. I am thinking I might be better off to host a client appreciation meal and ask them to bring any interested friends, then maybe work
Ad a seminar oncea month type of thing to stir up more potential clients.
I do "Community" Seminars. I don't buy lunch, I just provide information. I don't get company specific. I just cover the basics, and go over some additions that someone not in the industry would not know.
I do this at Libraries, and get invited back each and every quarter. My attendance is anywhere between 8 and 20 people, depending on the topic and the day.
About 35% have turned into Health/LTC/Medicare Clients, and have gotten some referrals from others that have NOT done business with me.
There is also a group here called PALS (Perimeter Adult Learning Services) that I speak at as well. I am also speaking to my parents' condominium group in October.
None of these cost me a dime, and I get a steady stream of business and referrals. Maybe not the volume you guys expect, but hey, I'm also not shelling out several grand.
I am currently working with a Business Coach, preparing a series of workshops (Webinars) aimed at the small business market. It helps to work with affiliated partners.
So, you guys keep buying leads, and hiring telemarketers. Leave the seminars to me. OK?
Everyone should be doing what you are doing Bob. Putting together meetings with a small group works well and doesn't cost much.
Not really what I had in mind when talking about seminars. I do presentations to small groups on a fairly regular basis. Church groups, clubs, senior centers are all good places to do them. I do introductory lunches with customers who bring friends and that works ok too. I don't see that the true seminar model is as effective as it was, but small group presentations work well and cost little if anything.
You can not afford to do meal seminars and sell small ticket policies. Annuities is the only product that will consistently finance them if you plan to do full blown seminars using a mass mailing and telephone invites. Sure, anyone can find people to fill one or two, but on a regular basis month after month it takes money to sustain the model.
I made money at it, but it became a grind and not necessary for me to write business, so I am on hiatus.
Last edited by patch36 : 08-21-2008 at 05:56 PM.
Reason: I can't spell.
Well I am doing well as it is, not looking to waste money,just looking to take it to the next level so to speak. I am thinking I might be better off to host a client appreciation meal and ask them to bring any interested friends, then maybe work
Ad a seminar oncea month type of thing to stir up more potential clients.
Look at the Introductory Lunch model. Have existing clients meet you for a non sales lunch and bring a friend who can benefit from your services. No business discussed other than an introduction and setting a time to meet in the future.
As with a seminar, the sole intent is to set an appointment, and it is a great way to meet new clients who see you as being endorsed by someone you mutually know.
I went to Chicago to see a presentation of a lunch seminar by a very successful agent. He does 3 lunch seminars a month and writes 20 25 M yr. He was featured on the cover of Sr Market Advisor magazine.
I'm starting in the next two months.
The ideas for speaking at community centers and libraries is a good idea. I'll mention it to my partner. See if there is any space left in this area.
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"People who think they know it all really annoy those of us who do"
We will do about 75 this year. They work great and we have a lot of fun doing them!!!
Matt
I agree Matt. They do work once you get a system in place and I really looked forward to the events. We will probably start back up again after the first of the year, I just haven't felt the need business wise.
I agree Matt. They do work once you get a system in place and I really looked forward to the events. We will probably start back up again after the first of the year, I just haven't felt the need business wise.
Yes ones you get things worked out they seem to work well, particularly when you have a few under your belt. Also Seminars’ tend to work best in the Fall, before people switch to holiday mode.
Having just completed a lunch seminar, I can tell you the dynamic right at this point in history is dramatically different for annuity seminars.
I just spent almost two hours looking at half a room full of deer in the headlights. Getting people to move investments while they are down 30-40% in their life savings is not an easy task.
Having just completed a lunch seminar, I can tell you the dynamic right at this point in history is dramatically different for annuity seminars.
I just spent almost two hours looking at half a room full of deer in the headlights. Getting people to move investments while they are down 30-40% in their life savings is not an easy task.
No kidding! I can't tell you the number of people who are in the "I only lose if I sell now" mode - wow! The re-education of the "typical investor" is really tough. It's kind of like telling them to face reality while they're still in la-la-land.
Hey Rabbi, were you talking about Craig Randall, or who?
Having just completed a lunch seminar, I can tell you the dynamic right at this point in history is dramatically different for annuity seminars.
I just spent almost two hours looking at half a room full of deer in the headlights. Getting people to move investments while they are down 30-40% in their life savings is not an easy task.
I don't know, we are having our best month ever. Making changes right now seems pretty easy to me. People are almost beating down our doors for help. We are having people show up at office every week, with no scheduled appointment, with money they want to roll.
Seminars are still a great way to get in front of clients. I know some big producing agents and they are really focusing on the IRA and Qualified monies markets. There invitations are gearing only to those clients, and they are telling me that they are getting about 40 to 60 people in a room 3 times per month. Average case size up around $300k.
I know an agent who did the one on one meal programs and he said it was alright - not great, not good, just alright. There is a company out there that does the mailers and set the dinner appointment for you.
Seminars are still a great way to get in front of clients. I know some big producing agents and they are really focusing on the IRA and Qualified monies markets. There invitations are gearing only to those clients, and they are telling me that they are getting about 40 to 60 people in a room 3 times per month. Average case size up around $300k.
I know an agent who did the one on one meal programs and he said it was alright - not great, not good, just alright. There is a company out there that does the mailers and set the dinner appointment for you.
If one is into doing seminars I highly recommend reading "Seminars-the Emotional Dynamic" by Frank Maselli it will greatly shorten the learning curve and provides a lot of practical detail.
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