This one is mostly for the vendor community, but even for providers it is perhaps a look behind the curtain at the big challenge emerging companies have in trying to tell their story to you.

This one is mostly for the vendor community, but even for providers it is perhaps a look behind the curtain at the big challenge emerging companies have in trying to tell their story to you.

Marcus Evans, a Senior Housing Forum Partner is an international company that produces executive level summits in a number of vertical markets including long-term care/senior living.  The summits bring together a select group of solution providers (vendors) and C suite level senior living executives.

The way the summits work is that 60-100 senior living executives spend two days at a Ritz Carlton style hotel for general sessions, panel discussions and lots and lots of networking time.  For qualified senior living executives the cost of the summit, the hotel and all food and drink is complementary. They also are asked to participate in about a dozen 25 minute low key high level meetings with solution providers/vendors. 

It turns out that most senior living executives find great value in these vendor meetings because in a short period of time they get a chance to learn about new and alternative vendor solutions in low/no pressure setting.

It’s Expensive for The Vendors or Is It?

On the face of it, the cost of being a solution provider at Marcus Evans is hugely more expensive than exhibiting at a trade show like ALFA, AHCA or LeadingAge and yet, solution providers continue paying these “big dollar” prices to be a part of these events.

A couple of weeks ago, I spent some time talking to Mike Sandrock the COO and John Holder the VP of sales at iTacit another Senior Housing Forum Partner talking about why Marcus Evans is an important part of their sales strategy.

It Works

  • His immediate response was that for them, Marcus Evans is actually less expensive and far more productive. 
  • Because there are only 20-30 solution providers the atmosphere is more relaxed and much less competitive.  It becomes very solution oriented.
  • The all-in cost of a national trade show including a decent sized booth, travel, giveaways, meals, hotels and entertainment was costing them as much or more than what they pay to be at a Marcus Evans style event.
  • Trade shows have turned into a sort of trick or treat affair, with peopltrade show swage who are often not decision makers looking to collect bags of goodies, for themselves, staff back at home, or kids and grandkids.  After the show, the goodies get picked out of the bags, the promotional material sits on the floor, or a shelf for a few months then gets tossed.
  • The overall traffic at trade shows appears to be down and for the most part decision makers don’t always make it to the trade show floor.
  • For iTacit as a relatively new vendor to the US marketplace (they are a Canadian based company) Marcus Evans gives them instant access to leaders that would take them years to connect with (if they could connect at all).
  • Having the opportunity to meet with twenty or more decision makers provides them new opportunities and valuable feedback on how to better serve the marketplace.

Their bottom line is that it just plain works better for them and for the senior living executives.

The next Marcus Evans Long-Term Care & Senior Living CXO Summit takes place on February 9 and 10 at the Ritz-Carlton, Marina del Rey, California (Los Angeles area).  I will be the speaker for the opening general session.

 

Steve Moran