Summertime is coming up quickly and you know you want to hold client events, however you don't have the staff or budget available in the past. How can you create events that will impress clients and gain referrals?
The challenge: Summertime is coming up quickly and you know you want to hold client events, however you don’t have the staff or budget available in the past. How can you create events that will impress clients and gain referrals?
The solution: Keep it simple and plan for two to three events tied to your top 40 to 50 clients.
When you have too much on your plate to add an event, one successful shortcut I’ve found is to connect with a local charity and help co-sponsor their event. Several advisers are teaming with a charity golf outing and fashion show. Here is how they are doing it.
A success story
High-end stores such as Nordstrom holds in-store events such as fashion shows and other fundraisers in which you can take part. They do all the work, take care of all the details, and you can add your group to the mix. This keeps your costs down while still letting you take credit for an event with incredible client value. In July, we will give the details to four specific lifestyle events that have been very successful and at a minimal cost.
[Also, you can tag along with a docent-led museum tour group and your clients will never be the wiser – dh]
In the meantime, here is a checklist you can use for almost any event you’re planning:
Event checklist and timetable
1 month ahead
• Confirm your topic, presenter and venue (confirm the food, time and audiovisual needs)
• Send out or e-mail invitations to your clients and their guests with a catchy message in the subject line or on the envelope.
1-2 weeks ahead
• Create an agenda and have handouts or materials approved by your compliance officer. Check on LCD projectors and microphones. We recommend using a microphone for any group larger than 10 people.
• For a dinner or meeting with a speaker, have the room set up in round tables of eight (never use 10 — it’s too crowded) or a U-shape to allow your speaker and you the opportunity to walk around.
• Call the venue to confirm the starting time and times for drinks and food to be served. If you have more than 20 in your group, consider using a bar so guests are sure to get something to eat and drink quickly. With larger groups, consider a buffet with several stations to allow your guests more flexibility. Often for dinner and evening events, guests have come right from work and will be hungry.
• Call all invitees to confirm their attendance and invite them to bring a friend.
The day of the event
• Bring nametags (use big type), agenda and materials.
• Arrive one hour before the event to check the room setup, valet parking, introduce your team to the staff and check the timing for the drinks and food to be served. Do not make your guests wait — it sends a message you haven’t prepared.
• Here is an ideal timeline for an evening dinner from 6-8 p.m.:
• 6 p.m. — Serve cocktails and hors d’oeuvres as guests arrive. Personally invite guests to start sitting down at 6:20.
• 6:30 — Welcome everyone and provide brief introductions (five minutes). Dinner should be served promptly at 6:30 (a buffet usually keeps the program on time).
• 7:00 — Guest speaker begins. If a wholesaler is sponsoring your dinner, offer to let them speak for five minutes at 7:50 once your guest speaker has finished.
• 7:55 — Conclude the program with a memorable close and invite guests to stay for questions. Let guests know you will be following up with them later in the week.
Follow-up and gain referrals
Send a follow-up e-mail the next morning to thank your guests for joining you and tell them what your follow-up action plan is. This is the key to turning client’s guests into referrals. Have an e-mail template prepared before the meeting (one for referrals and one for clients). This can even be set ahead of time into your computer for delivery the next morning.
Call within two to three days to schedule a follow-up meeting.
Event tips
• Plan event topics tied to your clients’ specific lifestyles or business interests.
• Hold events at the time that best suits each client group: during the week and early morning for retired clients and early evening for professionals and business owners.
• Set an agenda with the audience’s benefit in mind. The seminar should not be a sales pitch for your products, but rather focus on the educational value you provide.
• Confirm all the event details in advance (use the checklist from Week 2)
• Control the meeting from introductions to the close, stay on time, and tell attendees when and how you will follow up.
• Always allow clients to bring friends and family to generate referrals.
Each week in July, a successful event will be detailed right down to the approximate cost per attendee and the results. You will learn the best practices from top advisers who have mastered the art of events to lock in their best clients and streamline referrals from them.
Successful summer events have included:
International fashions and fine wines Leveraging an existing event can wow clients with a unique venue and let them support a charitable cause.
Gardening is golden (and nutritional) Learn how one top Midwest adviser hosts this event at a famous garden (hint: Tom Hanks and Madonna filmed A League of Their Own here) and the entire cost is under $10 per person.
401(k) retirement checkup We will show the steps for a high-end, yet low-cost, group meeting that one wirehouse adviser uses to stay connected with lower-tier clients’ retirement dollars.
Take action
Set a goal to improve just one area of your practice over the next few weeks and track the success. One degree of change can make a difference to take your practice to the next level.
Next segment: Summer client events that generate referrals
