Setting Measurable Goals for Your Event
I have three goals when I give a seminar. First, I want to get great evaluations. Second, I want to sell a lot of product. Third, I want to achieve both of these goals in such a way that people will enthusiastically want to do business with me again.
All three of these can be measured. This is essential. I don’t want any of my goals to be subjective and therefore nebulous. How can you tell whether or not you are achieving goals that aren’t well defined? You can’t. It’s that simple.
I suggest you ask yourself the same questions with regards to the seminars you conduct. How will you determine if your seminars are successful? Make sure all the items are measurable.
The numbers on your evaluations will tell you whether or not people like and respect you. If you’re asking people to rate you on a fivepoint scale, set an average evaluation threshold. That might be 3 or 3.5 or 4, for example, depending on your expectations of yourself.
Product sales are discussed in detail in another section of this book, but you need a consistent, cross-seminar way of judging the return on investment you make in your seminars. I use a yardstick of revenue per person per minute. If you have 100 people in the room and sell $10,000 and you do it in a 50 minute speech you’d be doing $2 per person, per minute. Is that good? That depends on your goal and your previous experience. For me, $2/person/minute is good, $3/person/minute would be great, anything over that amount would be phenomenal.
Use the same yardstick to measure every event so you can compare your results over time and across numerous events accurately.
The only way to measure repeat business and referrals is carefully tracking the number of repeat and referral customers that come through your doors. This requires some advance planning. There has to be some way for you to know when you receive an order that it’s from someone who has attended one of your events. There also has to be some system of referrals so that when a new order comes in as a result of a referral, you can know and track that.