Finding and Using Innovations for the Events Industry, with Long-Term Benefits (Part 1)

By Eric Hatch
Director, Marketing
Hatch Marketing  & Consulting, LLC

“I’m no genius, but I’m smart in spots, and I stay around those spots.””
- Warren Buffett (quoting Thomas Watson Sr.)

Warren Buffet isn’t like you and me… unless Bill Gates is reading this.  He’s the world’s third-richest man, with net assets worth $50 Billion, most of which came only from good investments.

He’s also unlike most investors.  He won’t “buy low, and sell high”, nor will he “day trade”.  You want quick profits?  Look elsewhere.  He and his holding company Berkshire Hathaway provide long term, very secure investments.  And his safe approach produces phenomenal returns, over the decades, especially in comparison to recent failures of now-bankrupt Wall Street firms.

1. Buffett Stays Rich Through Consistent Forethought.
In its modest office in Omaha, Nebraska, Berkshire Hathaway consistently predicts many companies’ future growth and stability.  When Mr. Buffett finds businesses up to his standards, he buys and holds onto that stock, not for months or even years; he keeps a stock and doesn’t let go.  This method keeps the Berkshire stock portfolio largely unchanged.  53% of its $60 Billion market value comes from businesses which Berkshire has neither bought or sold any of their stock last year.

Coca-Cola, the single largest holding at Berkshire Hathaway at 22% of their portfolio, exemplifies this approach.  It attracted Mr. Buffett, not because it’s flashy, but because it is stable and growing.  He also bought it because, unlike tech stocks, he understood the business.  He comprehends the competitive advantage of each company in his portfolio.  Berkshire started buying it back in the 1980’s.  Now it owns 8.7% of Coca-Cola — 200 million shares — valued at $13.9 Billion. It makes up over 22% of Berkshire’s portfolio, it’s a sound, long-term investment, and it will be for the foreseeable future.  So, Mr. Buffett keeps it in his portfolio.

Breaking News! Buffett Buys Tech… with Forethought!
If Warren Buffett’s investment style seems immovable, look at how Berkshire shifted its investments in 2011.  It was back in October that I began to really take notice of Berkshire Hathaway, when they bought 5% of IBM, over $10 Billion worth!  It made headlines because it was the first tech stock Berkshire ever held.

So, why did Buffett invest in this stalwart of technology?  His explanation will help anyone, especially associations and others in the Events Industry, to invest effectively in technology.

Part 2 – How Buffett sticks with stable businesses with takeaways for the Events Industry and beyond.

Part 3 – How Buffett changes  with the Business World with takeaways for the Events Industry and beyond.

With hope for your True success!
Eric Hatch
Twitter Handle: @HatchEvent
Skype ID: Eric-Hatch
Phone: 240-565-1557
Eric@HatchMarketingLLC.com

#EventProfs, if you sell Marketing Technology or organize events of  a #TradeShow, and you missed the Meetings Technology Expo, this week in New York City, you lost a great opportunity for learning and sales.  The power-packed one day provided just enough exhibitors with opportunities for break-out demo sessions.  And tables for networking and one-on-one appointments in the exhibit hall made it more like an alumni event at #Meetings Tech University.

Speakers included Tom Wong, the VP of Marketing with Salesforce.com: if you don’t know this guy, you should.  He talks a mile a minute, and he gave me some great ideas I will implement on how Event Organizers and attendees of all sizes should use Social Media and live events to grow and sustain growth.

I also saw Erik Mintz, Constant Contact‘s Event Marketing Director, who gave us some purpose-driven ideas on better email marketing.  Even Rich Stone, President of ExpoCAD, cogently showed attendees “How to Select and Purchase Meeting Technology Successfully“.  Yes, I am praising ExpoCAD’s founder, though I still appreciate my former colleagues at A2Z. I thank all the ladies and gentlemen who spoke, exhibited, and attended the event, but especially Paul Paone (faceless here, not at the expo) and his MTE team.  Each group made the event into an event I can confidently say will exceed all of my Learning, ROI, and Lead Generation expectations.

The proof of high ROI  won’t come with the number of business cards I took home, as you know.  It will be in the follow-up, which I have already begun.

Yet, even a fantastic opportunity like MTE won’t help a sales person follow-up, nurture, and market to hundreds of leads, especially the “B” and “C” Leads.  Your sales team will contact your “A” Leads, maybe in one afternoon.  But how can your sales people market consistently and appropriately to every qualified prospect?  Like SiriusDecisions says,

“Research has shown that 80% of the leads dis-qualified by sales, go on to buy a competitor’s product, or service within 24 months.”

That’s why Mike and I started HATCH Marketing.  We make sure that incredible technology fits your budget, allowing you to find your leads (using live events, webinars, email marketing, social media… I could go on).  Then the technology will successfully incubate the leads and almost completely insure ROI, not just now but for years to come.  The offerings include

• The newest Marketing Automation tools like Pardot and Marketo;

• Customer Relationship Management programs (CRM’s) like Salesforce.com that become your overall sales, marketing, and customer service solution;
• Easy-to-use, yet powerful websites that integrate with your CRM and Marketing Automation solutions!

Click on the links above to learn more about these tools.

Thanks for your consideration! Keep watching for our messages.  We will earn the opportunity to help you... when you are ready.
Eric Hatch
Twitter ID: @HATCHevent

Description: The National Association of Federal Credit Unions – Creation and presentation of an all-new trade show marketing webinar for exhibitors including the latest free social and new media marketing tools and techniques for generating more booth traffic and qualified leads.

Description: Fantail’s most important show of the year was approaching. For this challenging assignment, Fantail secured the only available booth, in the back corner of the expo hall. HATCH Marketing & Consulting LLC (HMC) team members developed a comprehensive trade show marketing campaign that included a series of pre-show broadcast emails, phone calls, and use of social media to pre-qualified registered attendees. This was complemented with on-site social media techniques and HMC’s in-booth staff support to increase booth traffic, engage show attendees, qualify their business, and generate quality leads.  HMC also executed the post-show follow-up campaign and scheduled demo appointments for Fantail’s sales executives after the show. The results were exceptional.

CLICK TO READ CASE STUDY

Description: Oswego is a provider of CCN, Convention and Conference Newscasts. They launched a new product at a series of conferences and generated many quality leads. Because of limited sales staff to follow-up the leads they contracted with the team members of HATCH Marketing & Consulting, LLC to execute the follow-up for their executives.

“The team stepped in and filled the void. They quickly understood our product, our pitch, and helped us convert the leads into demo appointments”, said Bill Johnson, VP of Sales.

Description: ITI designs and manufactures tools that enhance military and first responder imaging technologies. HATCH Marketing & Consulting, LLC has provided ITI with both the management of their trade show marketing program and social media marketing campaigns.