Do dine-arounds actually work? The answer can be a resounding yes, but only if they’re executed thoughtfully and strategically. Here are some key details to consider to ensure your dine-arounds are effective and worthwhile.
Make Yours Unique
Dine-arounds have been a staple in the industry for as long as we can remember. However, one thing that stands out is the lack of innovation in how they’re conducted. Often, they follow the same formula: the same steakhouse, the same attendees. While familiarity can be comforting, it doesn’t always yield the best results.
To truly make your dine-arounds stand out, start with the basics: planning. Think about the venue, the ambiance, and most importantly, the attendees. Make it unique by choosing a venue that offers something different. Perhaps a trendy new restaurant, a private dining experience, or even a themed event. The goal is to create an environment that fosters engagement and leaves a lasting impression.
Who Are You Inviting?
The guest list is a critical component of a successful dine-around. It’s easy to fall into the habit of inviting the same people over and over again, but this doesn’t necessarily serve your objectives. You want to impress management with a full house, but what happens after that dinner is what truly matters.
When selecting your guests, think strategically. Of course, you want to include big producers—those who already bring significant value to your firm. However, don’t overlook the potential of inviting advisors who show promise but haven’t yet invested clients in your products. These individuals could become your next big producers with the right nurturing. Additionally, consider inviting advisors you’d like to know better. These could be prospects who, with a bit more personal interaction, might do business with your firm.
Strategies That Evolve With Time
Like any other aspect of business, dine-arounds need to evolve. Just as email campaigns and social media strategies change over time, so too should your approach to these events. Staying ahead in the industry requires continuous adaptation and innovation.
First, reassess the purpose of your dine-arounds regularly. Are they achieving the goals you set out? If not, why? Sometimes it’s as simple as changing the format or adding an interactive element to the dinner.
Second, keep your finger on the pulse of what’s new and trending. This could mean incorporating new dining trends, like farm-to-table experiences, or leveraging technology to enhance the experience, such as interactive presentations or virtual reality tours of your latest projects.
Third, remember that advisors are evolving too. Their preferences, expectations, and the way they do business are constantly changing. Your dine-around strategy should reflect these changes. Make it a point to gather feedback after each event to understand what worked and what didn’t. Use this feedback to continuously refine your approach.
Practical Tips for Evolving Your Dine-Arounds
- Personalize the Experience: Tailor the event to the interests of your attendees. If you know your guests enjoy a certain type of cuisine or activity, incorporate that into your planning.
- Incorporate Learning Opportunities: People appreciate events where they can gain something valuable. Consider adding a brief, insightful presentation or discussion that provides value to the attendees.
- Mix Up the Format: Not all dine-arounds need to be formal dinners. Consider hosting a brunch, a wine tasting, or even a cooking class. The key is to create an engaging and memorable experience.
- Utilize Technology: Use digital invitations, follow-up surveys, and interactive elements during the dinner. This not only modernizes the experience but also provides valuable data you can use to improve future events.
- Engage During and After the Event: Keep the conversation going post-event. Send personalized follow-up messages, share photos from the event, and continue to engage with attendees on social media.
We’re Here to Help
Over the years, we’ve developed and refined numerous strategies to make dine-arounds more effective. By focusing on uniqueness, strategic guest selection, and evolving with the times, you can ensure that your dine-arounds are not just dinners but powerful tools for engagement and capital raising support.
If you would like to discuss your conference and dine-around strategies, reach out to us. We’d love to help you out and share some of the unique ideas and strategies that have worked well in the industry.
