Dinner seminars are one-of-a-kind marketing solutions that connect prospects with professionals face to face in a comfortable environment. And they’ve been proven successful for over 25 years. However, there are mixed feelings about dinner seminars in the marketing space. Some feel it’s outdated. Others had to shift their marketing plans during the pandemic and found other ways to reach their audience. So, what is the verdict on live dinner seminars? Are they a win? Or should we take them off the menu?
The Pros and Cons of Dinner Events
Every marketing solution has pros and cons. Let’s dig through some common issues and misconceptions with dinner seminars. Then we can determine whether live events are beneficial for your business and how to make them successful.
One downside of live events is that many professionals were trapped when COVID hit the U.S. If they had committed themselves to just one marketing solution. And if that solution was no longer allowed, what did businesses do? It was a very stressful time, but it clarified that everyone needed a backup plan. Many professionals shifted successfully to webinars and online learning systems. Lesson learned? Never limit yourself to just one solution – including dinner seminars. Regardless of your marketing strategy, multichannel marketing is key to success. When one marketing channel doesn’t return the results desired, or as with the pandemic, the unforeseen happens, you’ll have other options.
Let’s not deny it – there’s a sense among some business owners, including those that cater more to millennials and Gen Zers, that it’s outdated. And yes, these marketing tactics have been used for decades to connect with new prospects. They come for dinner, but savvy business advisors move them to convert. And as technology and marketing shift to social media and digital ads, is there really a space for good old-fashioned marketing techniques?
In our experience, the answer is yes. Sure, it’s okay if you don’t like dinner seminars and decide it’s not for your business. But, statistics show nearly 75% of millennials would attend an in-person seminar, compared to just 69% of generation X and 62% of baby boomers. Wait, did you just read that right? Yes – millennials are MORE LIKELY to attend an in-person dinner event.
Plus, regardless of how long it’s been around, the fact is, it still works. So, we can fix things and adjust to more modern techniques, but there’s no reason to ignore a tried-and-true marketing technique.
Marketing costs money! Frustrating, we know. But perhaps the adage is true – you get what you pay for. Acquiring new customers is a necessary evil to growing your business and increasing your revenue. The key to successful marketing is to ensure the return on the investment (ROI) is worth the time and effort. So, what is the verdict on dinner seminars? Let’s find out:
|Total Lifetime Revenue||$72,000|
|Total Gross Profit||$62,355|
Senior Living Community
|Average Lifetime Value||$712,800|
|Total Gross Margin||$166,725|
|Total Gross Margin||$149,260|
|Total Gross Margin||$160,400|
Statistics don’t lie. Basically, whatever market your business is in and whatever your ideal consumer looks like, seminars can be a crucial component of a successful marketing strategy.
Our Dinner Seminar Verdict
Let’s be honest – live events aren’t perfect. But what marketing solution is? What makes dinner seminars successful is more of an art than just getting together and talking to your audience. If it were that easy, all events would be a success, and we wouldn’t be having this discussion.
By using the best practices determined over 25 years of seminar marketing experience, you can ensure a successful event. What are the best practices?
- Personalization – your audience wants to be recognized as an individual and personalizing the invitation, subject matter, and event helps guarantee success.
- Cater to your Audience – What you want to cover doesn’t matter when planning an event. What matters is what your audience wants to hear and learn about. Make sure you keep them top of mind, and the conversion rates will soar.
- Be Prompt & Professional – It should go without saying, but just in case! Be yourself, share your vision, and impress them with your skills and knowledge.
- Focus on the Audience, Not your Notes – Give your audience your full, undivided attention and make sure to connect with them in a personal, professional way.
The bottom line? Dinner seminars work for financial advisors, healthcare professionals, senior living communities, and other businesses. But it’s key to know your audience, cater your topic and discussion to their needs, prep effectively, and continue to market in other areas. When used with other multichannel marketing solutions, dinner seminars can help your business reach new levels of success. Ready to get connected with an expert and learn more? Connect with us.