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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