Market Intelligence
Tips & Trends
The Sullivan Report
Special Reports

 

Well, it had to happen. Previously seen as the party that would never end, sponsorships are slowing down in the financial sectors. If you’re big into banking, don’t abandon ship yet. Focus on smaller deals, with smaller benefits as well as fees. Focus on marketing efforts to promote savings accounts and CD’s. Raising capital is a big priority right now.

Association Meetings’ study on meeting attendance goes beyond the typical attendance blues in industry media. Almost half (43%) of those surveyed reported an increase in attendance, with 17% of those folks boasting an increase of 20% or more. What did the trick: expanding marketing efforts past the traditional attendee base. What had limited success: hiring big-name speakers, as only 18% credit the speaker’s name for increasing attendance. Only 5% credited entertainers (that includes the humorists) for the increase.

Move over Second Life; the copycats are coming. Industry insiders are whispering about IBM’s efforts to launch a platform that uses Second Life technology for Corporate America. This will be great for training and other communication efforts. IBM’s platform is scheduled for launch by the end of this year. Experts need to practice using this technology NOW. The train is leaving the station…

It’s really sexy to brand yourself as a pioneer. The downside: you have to spend a lot of time and marketing money educating prospects to try something new. And in this economy, that’s easier said than done. The key: instead of charting new territory with new customers, brand yourself deep in markets that already get it.

Turbo Charge clients, Tim and Suzette Autrey, drilled down and struck gold. After establishing the direction and differentiation, they applied their brand (error reduction) in the narrowest way (power and electricity transmission.) Margins are high because they didn’t have to educate these potentials on the ROI of reducing errors. That allowed them to start with smaller projects but get more money in the long run. The result: booming business in a bad economy and seven figure projections for next year. Check out their perspective here. Great job Tim and Suzette!

Do you just need to be pointed in the right direction? I’m here to help. Contact Brenda at Brenda@sullivanspeaker.com and she’ll get you on my calendar.