Senior Market Advisor. October 2004. www.SeniorMarketAdvisor.com

LTCI Insider. With Margie Barrie.

Tips for achieving a full house at your next seminar

I know that seminars are an excellent way to generate LTCI leads, but my target audience is being inundated by seminar invitations. What advice can you provide to help me maximize attendance? — D.C., San Jose, Calif.

SEMINARS ARE ONE of the best ways to generate leads. In fact, they rank fourth on a list of 10, according to a LIMRA survey.

For advice on how to fill a seminar with qualified prospects, I turned to Marty Glasser, president of CIS Marketing, a New York firm that specializes in turnkey seminar invitation programs.

Who should I invite? As a general rule, your best prospects will have characteristics that mirror those of your best clients. Invite some of your clients and ask them to invite friends who they think would benefit. To increase the effectiveness of the seminar, plan the seating arrangement in advance so at least one client sits at each table.

Where should I hold the seminar? It’s best to hold a seminar at a neutral site. Holding one in your office limits attendance because it can make the invitee feel uncomfortable and even pressured.

The wealthier your guests are, the more upscale the seminar location should be. Private rooms in hotels, country clubs and restaurants are all acceptable locations for seminars directed toward high-net-worth prospects, while libraries, classrooms and civic auditoriums are appropriate for middle-income markets. Seminars held at colleges, particularly those perceived as prestigious, have proven to be excellent locations for all seminars. Just don’t ask potential attendees to drive more than 20 to 30 minutes.

Should I offer a meal? Meals should not be used indiscriminately to stimulate attendance. A free meal will significantly increase attendance, but should be limited to seminars with an anticipated near-term payoff large enough to justify the expense. These seminars are directed toward high-net-worth individuals or are seminars that discuss topics including money management, second-to-die life insurance, higher face value annuities and similar topics.

If your competitors are offering meals, however, you may have no choice but to follow suit. If serving a meal, wait until after your presentation.

Breakfast, lunch or dinner? Dinner seminars are best. Luncheon seminars come in a distant second and breakfast seminars usually fail.

Which day, and time of day, attracts the most attendees? Tuesday and Thursday evenings are generally best.

How many prospects should I invite? The answer depends on how many prospects you’d like to attend. Historically, between 2 percent and 4 percent of invitees will respond favorably to your invitation. Unfortunately, of this number, only 1 percent to 3 percent will actually show up. Keep in mind that these statistics are based on invitations mailed to home addresses.

To calculate how many prospects to invite, first determine how many you’d like to attend. Then calculate the number to be invited, based on a conservative 1 percent to 2 percent show rate.

MARGIE BARRIE IS PRESIDENT OF LTCI CONSULTING GROUP INC., WHERE SHE SPECIALIZES IN PROVIDING MARKETING AND SALES SOLUTIONS TO THE LONG TERM CARE INSURANCE INDUSTRY. SHE CAN BE REACHED AT (410) 653-9600 OR AT MARGIEBARRIE@COMCAST.NET.