Increasing the number of client interactions II
Fall Test Prep Marketing Strategy II: Engagement
Last month we noted the importance of scheduling events in the Fall. We reasoned that events generate leads which in turn can generate enrollments. Interestingly, many folks with whom I speak tend to view event success based upon the number of attendees and enrollments. This is fair to be sure, particularly if one is hoping to use the event to fill tutoring slots or a class taking place within a few days of the event. As fair as it is to measure event success in this way it is arguably short-sighted. Events registrations are arguably as important since they allow one an opportunity to engage potential clients for what could be a lengthy client life-span.
Leads from events come in the form of registrations and registrations, whether they show up for the actual event or not, are viable prospects for follow-up. Therefore, even an event "no-show" has value.
Without going into too much detail, the test prep & tutoring industry is reliant upon a supply of willing clients. It has also been commoditized to the point where discounts & deadlines permeate much of the promotional strategy. Because of this, a sophisticated sales management strategy is required with lead pipelines, automated emails etc. Add in a business dashboard and big data, and one pretty much has the ability to measure conversion rate, conversion time, and return on promotional investment. The process becomes less about the product or service and more about algorithms and metrics. As dehumanizing as this may seem, it is a sound business practice and good companies engage in sound practices.
How then, do boutique companies compete? Let's first assume that the boutique product is exceptional and that the company's personnel is bright, engaging, and affirming to students. Next, lets assume that although the product and delivery is superior, the marketing and promotional strategy is drowned out by the web presence and dollars of larger players. Finally, lets assume that when someone does call or email our boutique company and interact with the owner or staff, those prospective clients almost always enroll. If this sounds familiar, it should; most of the companies for whom I have worked or consulted seem to have this dynamic in common.
In essence we are saying the product is good, the word of mouth isn't bad, and that when a client interaction occurs between company and prospective client, conversion is excellent. The problem then becomes scaling the number of client interactions.
One solution is to simply interact with more prospective clients. After all, conversion is strong once a client interaction is triggered. Therefore, we could argue that increasing the number of client interactions becomes important.
Event strategy is one way to increase the number of interactions. And here is where the magic can start to happen; rather than focusing on enrollments, focus on interactions. This means that registrations, even when they don't ultimately attend a free event, should be engaged. Once the paradigm is shifted good things generally happen quickly.
As I mentioned last time, normal events include: Free Practice Tests, College Admissions Talks, Graduate School Admissions Talks, or some sort of SAT/ACT/GMAT/GRE Information Workshop.
The events themselves should be 45 minutes to and hour in length and should be designed to create value for the participants. After all, these participants are giving up their time to attend. If you need help figuring out what to use and when, click the link at the end of this article and we'll guide you. When it comes to Event Outcomes one should look to: 1) capture the prospect (or lead) information and 2) represent one's brand in a positive way, and avoid the misconception that events should immediately generate sales. While this is certainly an excellent and desirable outcome, the true goal is to expand the client base. To learn more about this perspective check out this link on the long tail approach to marketing.
Learn more about Test Prep & Tutoring Professionals Boiler Plate Events & Sales Management Training.
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