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Now that in-person gatherings are back, should you ditch webinars?
Not so fast.
Here is a simple, three-step process for post-COVID event success.
Your advisory firm can get the highest return-on-investment with the right mix of webinars, hybrid events and in-person seminars.
Step 1: Narrowcast versus broadcast
Advisor events are naturally narrowcasts rather than broadcasts.
Each event should match a specific, relevant topic to a defined group or market.
One advisory firm segmented its audiences into prospects, clients, and professional influencers.
Another firm that works with both investors and advisors divided its event strategy into two tracks for these two markets, which have very different interests.
A newer advisory firm geared its events towards prospects, so it segmented its audience to match the three sections of its marketing funnel – generating new leads/opt-ins at the top, educating and nurturing its marketing list in the middle, and converting identified prospects into meetings and clients at the bottom of the funnel.
Insight from step 1: Think narrowcasting rather than broadcasting for advisor events. The first step to reenergize your event strategy is to segment your target audiences.
Step 2: Match the medium to the market with the right event type for each audience
One firm holds events exclusively for “clients, friends and family” only.
It segmented its audiences into local and remote.
Its event strategy was easy – continue webinars for remote clients and return to seminars for clients in the area.
The firm can offer the same content for both audiences and just adapt to the medium.
For example, its webinars are 60 minutes while its seminars are 90 minutes in duration – providing more time for breaks, interactions, and exercises.
Another firm with a planning niche for pre-retirees will resume on-site workshops at local companies and run webinars for potential clients outside the area.
Insights from step 2: Consider your current relationship with each segment, their likely interest in planning or investing topics, and location when selecting event type.
Adapt the content and format to the medium, whether you are in-person or remote.
Email and digital promotions will work best for webinars, while other promotional vehicles like direct mail are available for seminars and workshops.
Step 3: Run an initial set of events and adjust the calendar based on results
Many of my advisory clients manage their marketing through a rolling event calendar of 90 or 120 days instead of trying to plan out an entire year of events.
After targeting your audiences and mix of events, start with a few events as a test.
Measure both the strategies and tactics like topic, promotion, attendance, engagement with content, and follow-up/results.
Repeat winning events, fix or ditch losers and adjust the event calendar as needed.
What about hybrid events?
You have likely heard about hybrid events that mix in-person and remote audiences.
While this event model may seem simple to conceptualize, in practice it is complex, costly, and difficult to master.
Step up to hybrid events by recording your in-person events as a video and then promoting the video as a separate marketing campaign.
Or run your next event as a workshop or webinar and flip the same content and promotion to another medium as a separate event.
A successful partnership extends its reach with a varied, post-COVID mix
Here's one model for post-COVID events that mixes webinars, hybrid and in-person events to maximize its reach and return-on-investment.
It is a successful partnership in a wealthy suburb of New York City with a niche in retirement income planning for the mass affluent (generally empty-nest couples aged 55 to 65 with 750k to $1.25 million in investable assets).
The marketing mix for this advisory firm leverages many of the events discussed above:
- Continues prospect webinars for social/LinkedIn connections and its email list,
- Based on a survey of its clients, continues quarterly client events as webinars only,
- Adds back local, educational workshops, promoted primarily through direct mail and local educational groups,
- Plans to video a core, educational workshop and market it online and through social channels.
The firm is going to hold off on hybrid events where attendees are both in the room and online/remote.
It will run this event model for the next 120 days and evaluate if it should change the strategy for the fall.
As you can see, this firm followed the three-step approach and is positioning itself for success in the post-pandemic event environment.
You can too.
While your event strategy will be your own, ditch webinars at your own risk.
Bob Hanson is a fractional marketer and author of Marketing Power for Financial Advisors. Get his checklist, Nine Questions Advisors Must Ask Before They Hire a Marketing Agency, Fractional or Full-Time Marketer, click here.
Read more articles by Bob Hanson
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
