What's with the events that are FREE but make you pay a deposit?

15 years ago

You can usually buy stuff at the event against your deposit - and
the average attendee probably does.

It also prevents too many empty seats. If you haven't noticed,
people are pretty flaky when they haven't got some skin in the
game.

Events do cost the promoters money. I paid $100 for one a while
back and, honestly, I bet they paid almost that much for the
conference room, tables, bottled water, coffee service, printing,
etc... the promoters did go out of their way to make it a nice
experience (which puts folks in a buying mood).

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JamesJeffery

15 years ago

Originally Posted by Loren Woirhaye

You can usually buy stuff at the event against your deposit - and
the average attendee probably does.

It also prevents too many empty seats. If you haven't noticed,
people are pretty flaky when they haven't got some skin in the
game.

I see. I'll book now

Thanks for the response.

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Alexa Smith Banned 15 years ago

I think it's not unreasonable for people to charge a deposit for a free event, when they have financial outlay and need at least an indication of the numbers expected. ($97 sounds quite a bit, though?).

The "deposit" also qualifies you (well, very nearly) as a "potential buyer" rather than a "browser": someone who has a credit-card and is willing to use it, anyway.

Some businesses do spend a lot on free events, but include within them a very professional, sometimes subtle, sales presentation for other events at high prices ... it's just part of their "sales funnel", really. There can still be great value in attending these things in their own right, though: I went to a very good forex-trading one, once, in London, which was free, and learned a couple of very useful things from it.
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JohnMcCabe

15 years ago

Back in the day, we'd host seminars and have each participant reserve their seat with a check. They got the check back when they showed up and checked in. After the event, we deposited any checks left over, along with the receipts from back of the room sales.

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Eddieheli

15 years ago

Hi,
If that event is in Cambridge on 14th October, then I've signed up as well.
Don't have a problem paying a deposit, as I've paid a lot more than that for seminars that turned out to be useless.
Even if I end up not getting it back I believe in investing in yourself, as you might just learn one snippet of information that makes it all worthwile.
I have paid thousands of pounds over the years for books because there was one paragraph that made the purchase worthwhile.
Same with seminars. If I learn one thing, (even if it's what not to do) then it will have been worth it.
Although sometimes the one thing I learnt was that it was a waste of time!

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JamesJeffery

15 years ago

Originally Posted by Eddieheli

Hi,
If that event is in Cambridge on 14th October, then I've signed up as well.
Don't have a problem paying a deposit, as I've paid a lot more than that for seminars that turned out to be useless.
Even if I end up not getting it back I believe in investing in yourself, as you might just learn one snippet of information that makes it all worthwile.
I have paid thousands of pounds over the years for books because there was one paragraph that made the purchase worthwhile.
Same with seminars. If I learn one thing, (even if it's what not to do) then it will have been worth it.
Although sometimes the one thing I learnt was that it was a waste of time!

Indeed it is!

I don't have a problem paying the deposit. Was just a little curious. I purchased Mikes course about a month ago and I really had no issue with paying the deposit. I just wondered why they done it.

Looks like I'll be seeing you there

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andybeveridge

15 years ago

I would have liked to have gone to that one myself. I am moving house on Oct 1st and I would have book flights right now. I am just worried that we might not have evrything all set up and running here in France. Moving up into the mountains and things can take a little while to set up over here.
Plus I am flying to Newcastle in Nov and I can't do it all.

I am suprised that the seminar is being held though, because they have only just started their high priced course. Was that not £20,000 for the year? Perhaps there will be an upsell for that. He does hint about an opportunity in the evening.

Love to hear you get on there.

Andy

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JamesJeffery

15 years ago

Originally Posted by andybeveridge

I would have liked to have gone to that one myself. I am moving house on Oct 1st and I would have book flights right now. I am just worried that we might not have evrything all set up and running here in France. Moving up into the mountains and things can take a little while to set up over here.
Plus I am flying to Newcastle in Nov and I can't do it all.

I am suprised that the seminar is being held though, because they have only just started their high priced course. Was that not £20,000 for the year? Perhaps there will be an upsell for that. He does hint about an opportunity in the evening.

Love to hear you get on there.

Andy

It's £2,000 for the year yes. That's the one I purchased. I have to say the course has taught me a lot already ... and I thought I knew a lot.

I'm looking forward to shaking the hand of Chris Farrell

Would love to see some other WF members there. 1st round of drinks are on me

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Kim Standerline

15 years ago

What event is this actually, is there a web addy

Kim

Originally Posted by JamesJeffery

It's £2,000 for the year yes. That's the one I purchased. I have to say the course has taught me a lot already ... and I thought I knew a lot.

I'm looking forward to shaking the hand of Chris Farrell

Would love to see some other WF members there. 1st round of drinks are on me

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imon32red 15 years ago

Having been in Sales for 10+ years I might be able to add something to this thread. I have actually done marketing for a similar type of event.

This is how it works. The company putting on the event figures out how much they make per person that comes to the event. With that information they are able to determine how much they can spend in advertising. Let's say that the company averages $500 per attendee and they decide that they can spend $100 per attendee on advertising.

Instead of TV or radio you can pay a marketer to provide you with targeted potential customers. How do you know that they are targeted? Anyone will to put down a refundable deposit to reserve their seat is definitely targeted.

So the marketer takes the $100 deposit and that is his commission. The company doing the event has a room full of people interested in purchasing what he is selling. And the customer is seeing a product that he is interested in.

It's a great model, especially if you are the marketer pocketing the deposits. I did this type of work for about 2 1/2 years.
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Ashley Wright

15 years ago

There you go Kim http://russellbrunsonuk.com/ I think thats the one everyone is talking about

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gfsocial

15 years ago

just to go back to this original post of why...

nothing is worse than having no idea how many people will be showing up to your event.. ordering too much staff and food.. to have too few show up.. or too many for that matter...

deposits confirm your ball park of numbers..