They say size matters. It doesn’t because it never has.
It’s the quality of your relationships, not the size of your database, that matters. You might feel that because you’re just starting a new company or because you don’t have a lot of prospects in your database that you cannot host a virtual event.
The key to producing a profitable and pain-free virtual event rests in your relationships. Imagine generating six or seven figures from your virtual event because you relied on your relationships to help you promote your virtual event. It is possible.
Forming joint ventures with your speakers, exhibitors and sponsors are just some of the ways you can bring attention to your virtual event. But don’t forget those other relationships which may not be as obvious, such as current or past clients, businesses that attract the same audience as you do, even celebrity experts are all individuals who will jump on your bandwagon and help you market your event if you play nice, be gracious and present an offer that is irresistible.
Whether you’re just starting out in business or if you have a very small e-mail or mailing list, it really doesn’t matter. You can simply rely on your relationships with your speakers, your existing client base, and any other joint venture partners to help you promote your virtual event.
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Hey Ian, relationships are key no matter which industry you're in, huh? This tip can apply to just about anything.
That stat you shared is key. I've heard people say it's 10x more expensive to find new customers than to retain existing ones. I wish I could find the report, company or survey to quote on that. The closest is Scott Stratten Hierarchy of Buying pyramid (which he has since removed from his site **sigh**).
Hi Leesa,
Great posts! I remember a statistic from my distant marketing past that was something like it takes 6X more to get a new customer than it does to retain an existing one. We often overlook loyalty programs as a source for new relationships and new revenue…