Tips From The Member Mentoring Committee - October 2009Partnering to Create OpportunitiesIn today's rough and tumble world of generating business from an existing client base and recognizing new opportunities, the basic principle of relationship building and maintenance is important to continue on a daily basis.
As with any successful plan, advance preparation, due diligence and knowing the individual target is critical to increase chances of success and achieve the goals and objectives of your sports commission, CVB, event or product/service. What is it you want to do, what is it going to cost and where will the revenue stream flow are basic questions that may guide any effort. As the evaluation process proceeds, tell yourself what is it that sets your organization apart from any competition-is it your venue inventory, the saleability of your event, or the product/service selection that may be of interest to your market.
As you think about what you want to do, remember some plan is better than no plan. The more detailed the plan is, the greater the possibilities of success. Make the plan, craft winning e-mails, make Facebook, Twitter, and Linked-In part of the marketing plan.
To Achieve Maximum Success Consider These Five Steps:
· The Power Of Visibility-attend NASC Symposiums and Marketplace, Breakout Sessions, Market Segment Meetings, be part of CSEE
· Effective Follow-up
· The Ability to expand your market, find new and complementary markets even it is a bit unconventional
· Maximize time by knowing your audience, listen, research and provide ideas and get in front personally with your target. Each target is different...be flexible.
· Have a positive outlook
For Example:
· Build within your community and try to branch out
· Solicit testimonials that may be shared with prospects, many of whom may already know each other thereby using a valuable asset for you and your organization
· Expand the 80/20 rule (80% of your business comes from 20% of your customers).
· With successful planning, honesty and integrity, you may be able to increase those percentages
· Look for ways to cross promote your organization with complementary organizations, thereby creating opportunities to share expenses, revenues, studies and spreading the risk
· Create business models that may allow your organization to "give back" when revenue streams and profitability reach defined levels. This may drive business and be an asset for the entities involved as new revenue sources are developed.
· Be willing to share your strategic plan with your stakeholders and be able to measure results quantitatively and qualitatively.
· Consider all the sources of information available to you through NASC membership and ask.
About the Guest Contributor: Jim has 26 years of experience in the premium and promotional products industry. His areas of focus include product branding, sports marketing, sports event and venue promotions, awards, recognition, event marketing, and organization recognition. This has included coordination with sponsor involvement in the overall event experience. Besides product placement, Jim has contributed his expertise in strategic planning and development and the financial impact of premium usage and placement. Jim is the Allied Representative on the NASC Board of Directors and has served on NASC Marketing, Meetings, Mentoring, Awards and Nominating Committees. He is President of the Cincinnati Chapter of the Wisconsin Alumni Association which serves over 1200 Wisconsin Alumni in the Cincinnati Metropolitan Area. Tips from the Member Mentoring Committee
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