Seminars have been a popular tool for financial advisors to bring in predictable revenue for years and contrary to popular belief they still work.
In the past these events have been marketed using direct mail which was fine 15 years ago.
In today's financial advisor marketing world social media is proving to be a much better investment when it comes to filling up your seminar with qualified prospects.
This brings me to the point of writing up this comparison.
White Glove Workshops to the best of my knowledge is one of the biggest providers of Done For You marketing for financial advisors when it comes to hosting seminars.
In this comparison we will take a look at the pros and cons of using White Glove Workshops versus using a more traditional marketing agency to help you market your seminars.
Disclaimer
All of the information for this comparison was gathered from publicly available resources on WGW's website.
If being in control and owning your data is important then having a system built for you that can be used over and over again will win out here. Owning your data allows you take advantage of retargeting visitors to your funnel even if they don't register. This also allows for you to customize your messaging to your brand.
If having potential prospects know who you are and building rapport is important to you then promoting your own brand should be a winner here. As an advisor people are buying a relationship with you and the sooner you can start that relationship the better.
If having someone help you find a venue is important to you then WGW wins out here. In most instances you can easily book a room in your local library and this is usually free to you as a taxpayer. Just call them up and see if they have availability and pick a date that works for you. Tuesdays, Wednesday, and Thursdays are the best days for hosting a mid-day seminar.
We both offer the same service here so it's a wash.
If you need a presentation and training on how to be an effective presenter then WGW wins out here.
We both offer the same service here.
We believe marketing should not break the bank and for this reason you should not need a loan to grow your practice using effective marketing strategies.
In our experience paying at cost for your marketing allows for a much lower cost per registrant by as much as 50% or more. While you do take on some risk with your own campaign, the reward is just as great if you have the right marketing partner.
If you are looking to get your money back or only want to pay for results, then WGW is the winner here.
The average WGW seminar will costs about $300 per household that shows up to your event.
The average cost per registrant using your own marketing system is $30.00 per household as of the time of this writing. (2/22/23) This is based on real data from accounts we manage for advisors in various markets.
With an average show up rate of 40%, your cost per attendee would be $75.00.
Let's run the numbers to see which approach would be more cost effective and give you the ability to scale your marketing.
In this example we will say 20 households will attend your seminar.
| WGW | ||
|---|---|---|
| 20HH | $6,000 | $1,500 |
As you can see there is a vast difference in costs. WGW is 4X the cost of buying ads at costs.
Now this doesn't take into consideration the time it would take you to figure out how to set up and run an efficient campaign using social media.
If you hired an agency like ours to manage your campaign your costs would be an additional $2,500 which is our flat fee for managing a campaign.
This would bring your total costs to $4,000 which equates to paying $200 per household.
To add to this, since our service is a flat fee service, you can host up to 4 seminars every 30 days for the same flat $2,500. Your only additional cost would be the ad spend for each campaign.
Going back to our original example of having 20 HH attend a seminar. If you held 4 seminars in a month with WGW, your total costs would be $24,000!
Doing the same 4 seminars with us would cost you $8,500 ($2,500 flat fee + Facebook ad spend of $6,000) which is almost a 300% savings!
In the end you would be paying less by partnering with an agency to help you build your own system to market your seminars.
Plus you get the benefit of owning all of the data and using it to market to people over and over, thus lowering your costs over time.
Click the button below to explore the possibilities of partnering with us to create your own seminar marketing funnel.
We only work with a limited number of advisors in each market so check to see if your area is available today.
