When and why do you add new courses or seminars to your lineup?
New offerings are now critical to maintaining the vitality and viability of your programming, and LERN recommends that every program offer 20 to 30 percent new activities or seminars each year.
There are seven very specific and very important reasons to create new programs. If you’re adding a new program for another reason, closely evaluate why.
The 7 reasons to create new programs:
1. To generate new sales. You need to add dollars to total income. Certain division may be lacking or need beefing up. Failing to look at numbers can mean missing out on targeting programs that can be expanded.
2. To increase operating margin. Your present mix of programs may not be generating the operating margin you need, While the programs may be popular, the cost may be too high or the price too low. Developing new programs with a better operating margin can increase your current operating margin. You may choose to price these programs higher or reduce costs. Even if this is what you are already doing, be aware that too many programs with low operating margins could jeopardize the future of your total program.
3. To build customer base. By offering more new programs, you may do a better job of targeting segments that are not being served, and you might just reach out to people not currently involved in your program. A diverse, but not overextended, selection can be helpful in adding new names to your database.
4. To keep your catalog and promotions fresh and current. Many times customers move on to another organization because there aren’t enough new products to choose from. Also, may times potential customers do not even review a program if they feel it is just a rehash of what came across their desk six months earlier. It is important to always be adding new programs so the public feels you are spending energy and time listening and responding. It is all perception. Image is everything.
5. To energize and challenge the staff. Programming staff can easily fall into a routine. If they are not being challenged to develop new products, they will do what is easy. Also, if they are not made accountable for the products they develop, they will not look to add new programs.
6. To respond to customer needs. The customer is the boss. If the customers are looking for new programs, it is our responsibility to give them what they want.
7. To cut out losers. Since there is only so much promotional space, developing new programs will probably force the elimination of programs that are not carrying their own weight. This is important because many times losers are left in way too long and weigh down all of our hard work.
Developing new programs takes dedication, concentration and a lot of hard work. You need to be actively engaged in a process that has specific steps, tools and strategies.