It's Summer! Select the Right Social Event
Philadelphia: “Every time we decide that we’re going to incorporate intimate social events into our business, we get derailed,” groaned Bill in the Q & A session following my keynote, concluding with his real question, “how can we get started?”
Bill isn’t alone. Although intimate social events are the preferred event of today’s affluent investor (see chart below) and the event to which they are most likely to bring a guest, few advisors seem to have incorporated them into their business model. This is a shame. Why? Because it’s one the few activities where you are able to express appreciation to your best clients and prospect at the same time. And the bonus, when done properly, you are mixing business with pleasure.
The objective is to entertain your best clients and friends within their centers-of-influence. It’s important that you begin with the end in mind; you want your clients to bring guests. This requires selecting an event that is guest-worthy. If you picky something that might be considered boring or salesy (i.e. a dinner hosted by your firm), as our research highlights, you will struggle getting people to attend. SO, the first step is selecting an event that is worthy of your client’s making that extra call (to bring a guest).
We are frequently asked about which types of events are most popular. The answer is; it depends – as it’s based on your specific client base. However, we’ve found that most of the events that advisors have held fall into the following broad categories:
• Life Milestone Events – Birthdays, anniversaries, and graduations offer excellent opportunities to honor clients and their family members.
• Cultural Events – Art exhibits, concerts, theater outings, and events that honor the culture of your community all have worked well.
• Entertainment – Here is where you can have some fun; whether it’s a wine tasting, cooking, antiques, or playing bridge.
• Sporting Events – This can be either as observers or participants. Golf, tennis, and boating are favorites. College and pro games are also appreciated by those who are fans of local teams.
• Educational Events – An invitation to clients and guests to hear a well-known speaker is one option. Another is to bring in a speaker on a topic that you know will be of interest to a select group of clients (nutrition, cancer prevention, etc.)
• Charitable Events – Select with care, knowing that your clients might be solicited by the organization sponsoring the event. This is a great way to be see by the power players in your community.
These broad categories should provide you a framework for determining which match your client’s interests.
Think not only of your first event, but of your second event as well. Setting up at least two events over the balance of the summer provides an option for clients and guests that are unable to make the first event.
Remember, the best events are personal and fun – they don’t have to be extravagant or costly.
As you consider your events for the summer, keep in mind that these events must also be something you enjoy. So, if you don’t play golf, forget about any type of golfing event. If you don’t like wine, skip the wine tasting. The idea is to think in terms of socializing with your top clients and their friends in a non-threatening environment.
Keep these events intimate (8 – 10 people per advisor) and you will be able to develop rapport with all of your guests; clients and prospects. Do so, and you will soon be filling your pipeline as you master the art of mixing business with pleasure.
Bill isn’t alone. Although intimate social events are the preferred event of today’s affluent investor (see chart below) and the event to which they are most likely to bring a guest, few advisors seem to have incorporated them into their business model. This is a shame. Why? Because it’s one the few activities where you are able to express appreciation to your best clients and prospect at the same time. And the bonus, when done properly, you are mixing business with pleasure.
We are frequently asked about which types of events are most popular. The answer is; it depends – as it’s based on your specific client base. However, we’ve found that most of the events that advisors have held fall into the following broad categories:
• Life Milestone Events – Birthdays, anniversaries, and graduations offer excellent opportunities to honor clients and their family members.
• Cultural Events – Art exhibits, concerts, theater outings, and events that honor the culture of your community all have worked well.
• Entertainment – Here is where you can have some fun; whether it’s a wine tasting, cooking, antiques, or playing bridge.
• Sporting Events – This can be either as observers or participants. Golf, tennis, and boating are favorites. College and pro games are also appreciated by those who are fans of local teams.
• Educational Events – An invitation to clients and guests to hear a well-known speaker is one option. Another is to bring in a speaker on a topic that you know will be of interest to a select group of clients (nutrition, cancer prevention, etc.)
• Charitable Events – Select with care, knowing that your clients might be solicited by the organization sponsoring the event. This is a great way to be see by the power players in your community.
These broad categories should provide you a framework for determining which match your client’s interests.
Think not only of your first event, but of your second event as well. Setting up at least two events over the balance of the summer provides an option for clients and guests that are unable to make the first event.
Remember, the best events are personal and fun – they don’t have to be extravagant or costly.
As you consider your events for the summer, keep in mind that these events must also be something you enjoy. So, if you don’t play golf, forget about any type of golfing event. If you don’t like wine, skip the wine tasting. The idea is to think in terms of socializing with your top clients and their friends in a non-threatening environment.
Keep these events intimate (8 – 10 people per advisor) and you will be able to develop rapport with all of your guests; clients and prospects. Do so, and you will soon be filling your pipeline as you master the art of mixing business with pleasure.
posted by Matt Oechsli at
11:03 AM
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