Archive for July, 2010

increaseeventrevenue

Take advantage of every opportunity to increase event revenue.

Running an event can provide you with a substantial profit. You can earn revenue from the event itself, or from selling items during the event. With the many revenue options available for making money from an event, people still miss out on some great revenue opportunities. Here are some insider tips for increasing your event revenue that most people don't consider:

Provide Tiered Pricing
If you want to open your event to the widest possible audience, consider creating a tiered pricing structure. You can quote a relatively low €˜entry-level' price for just admission to the event. You can also add a €˜premium' or €˜deluxe' event attendance, with carefully-considered extras. You might add a product free of charge for attendees who sign up for the premium package. You might also add one-on-one time with the event organizer, keynote speaker or other key event guests.

In this way, you can provide basic entry to wider range of people, while still raising the overall cost of your attendance. If you provide basic entry for $100, or a premium attendance for $200, your average revenue will increase, depending on how many people choose the premium option. You can also add a pre-registration option at a lower rate, and then charge the full rate for registration at a pre-designated cutoff point.

Offer Trial Memberships
If you have a product that functions as a subscription, such as an information distribution service, you could offer attendees at your event a €˜free trial.' A 30, 60 or 90-day trial is typically long enough to provide attendees with a good understanding of the service and its benefits. You'll find that many people like the service and stay in the program; giving you an ongoing revenue stream once the free trial has ended.

Open Up In-House Opportunities
One great function of an event is to promote your in-house opportunities and services. Events are a great way to convey information about your services to attendees, and convince them that you're the person with the expertise and systems in place to serve their needs. If you're promoting in-house opportunities, though, your event can't be planned exclusively around that. Unless you're hosting a free event to reveal a new product, people expect to receive a certain level of value from your event; not an extended marketing pitch.

Convey valuable information at your event. Answer important industry questions; questions that you have the expertise to answer because it's in your field. Provide information about a product. Give your event a purpose beyond simply promoting your services or products. A good event coordinator can find opportunities to work in-house services into the event's structure at key points, and begin to build a relationship with attendees to meet their ongoing needs.

Be creative in the ways you leverage revenue at your event. Offer a tiered pricing structure, which typically yields higher event revenue than a single price. Provide trial memberships to subscription or ongoing services, to demonstrate the value to your attendees and create an ongoing revenue stream. Finally, find ways to promote your in-house services to your audience throughout the event.

Want to learn more about how to make money with your own events? Visit our Event Money Machine Blog. You’ll learn about an amazing Telesummit being held later this month. Tickets to this event are FREE – so join our priority notification list to be the first to know when they become available.

When you meet someone for the first time, you have a chance to make a real connection, or you can just pass on your name and be forgotten. Successful relationship-building requires more than just handing out business cards. To build long-lasting, solid and mutually-beneficial relationships, a little homework and a little thoughtfulness goes a long way. Here are my tips for making an impression that brings lasting results …

Research the People You're Meeting

If you're meeting someone in particular, research the person or people you're meeting. Lots of resources exist that can give you both professional and personal reference material. The Web is a source of myriad information, with things like company websites, personal bios, work histories, resumes, portfolios; depending on who you're meeting, you may be able to find a wide range of information about your contact.

If the Web doesn't yield any useful information, you could check with the company where your contact works, to see if they have any marketing information containing professional info about your contact. You could also check periodicals, such as magazine stories, newspaper articles or professional interviews. Depending on how public the person is that you're meeting, you may be able to find everything from the name of a spouse to the first place he or she worked out of college.

Use the information you find when you meet your contact. Talk about common interests, such as being dog owners, adoptive parents, yachters; whatever common bond you can form with your contact can help you form a good relationship. Ask about things near and dear to the person's heart - not just business talk - and you're well on your way to forming a real connection.

Ask Questions and Show Genuine Interest

Get to know people to form real connections. Ask questions about everything; not just their professional life, but their personal interests and family life, too. The more you can show that you understand, know and really "get" the person, the better your relationship will be, and the more business opportunities you're likely to gain. Be a real person to your connections, too - if your new business partner volunteers information about his wife, talk about your wife. The more personal you can make your relationships with people, the better your long-term success with those relationships will be.

Have Fun Making Connections With All People

Everyone can have fun building good relationships - all you have to do is be genuinely interested in people. Enjoy getting to know your business colleagues, or even that woman you met on the street the other day. Forming connections with people can help in all aspects of your life, and even random connections can help your business in unexpected ways. You never know when someone will refer a key contact; an affiliate who may have great products for your prospects, or a business or distributor that could make your product a high-demand success!

Don't just see people as stepping stones to a better business. Form real, legitimate connections by getting to know people, and I promise good business will naturally follow.

The thank you page is one of the most overlooked places of real estate on the web.

That quote, from one of my mentors, Yanik Silver, speaks volumes. There is so much opportunity to promote more business and further your relationship with a new client on your thank-you page.

That client has just indicated that they trust you by opting in to your offer. Signing up to your list is a sign that they want to hear more from you.     Don't let them leave wanting; offer them even more before they click off your thank-you page.

When developing your thank you page, think about what you can do to increase your client's involvement. Marketing research has shown that the more people are involved, the more likely they are to buy - again.

That's one reason companies hand out scratch-off cards with prizes or discounts hidden beneath the ink. It's called an involvement device. When someone physically has to do something, it increases their involvement, which increases response and increases conversion.

The content on your thank you page needs to be relevant to your target market. Think about what you want them to do next, where you want them redirected to, and if there's an opportunity to make them another offer.

There are several key ways you can accomplish this.

•      Make another offer. While letting the client know you're glad they signed up, also let them know about another offering. Make a special offer. Offer a special prize or a special bonus that new clients will receive, but only if they sign up there and then.     Remember to use language that encourages action.   For example, "This is the only time you will see this offer. It's for new subscribers only and you won't have access to it again."

•      Ask for more information. Once a new prospect joins your list, ask them to describe their biggest problem. You can then direct them to other offers you may have to help with the problem, or develop that new offering if you don't have one.

•       Create a "tell a friend" campaign. Invite people to tell three friends about your offering in exchange for a special bonus. "Congratulations. Your place on the call is reserved. But just before we continue I would like to offer you this free gift…….."

Everyone who opts in helps you spread the word to other people. This will make a massive difference to your opt-ins and really help to increase your list. You can automate this process using Viral Friend Generator software.

When saying "thank you", the key is to include only one of these options on your page. Either attempt an additional sale by making another offer, ask new clients for more information, or create a tell-a-friend page.

Any one of these options added to your thank-you page will start increasing your sales immediately.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

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