Are you lowering price for recession?
- Thread starter Abbey Lane
- Start date
Rox,
Do you have a tour going or maybe a workshop or something. Listening to you might just be worth the paying for.
I'm glad you asked. I am offering a limited participation seminar called Getting What I'm Worth, GWIW.
I am the expert in me and if you want to be the best me I can be, you'll pay me lots of lettuce to hear me talk it.
Can I get that in DVD?I'm glad you asked. I am offering a limited participation seminar called Getting What I'm Worth, GWIW.
I am the expert in me and if you want to be the best me I can be, you'll pay me lots of lettuce to hear me talk it.
I raised my prices 20% last March. Last week I raised my 2009 rates another 10%. This past year I experienced just about the same number of events as I had in 2007. It was my first year without growth in the quantity of events. But I realized growth in the quality of my events in that I earned more money. I also reduced my expenses this year, eliminating lead services and advertising that were not producing a decent ROI. So 2008 has turned out to be a winner for me overall.
I am anticipating a slight slowdown for 2009 bookings, but , again, with the rate increase, I will maintain my income level.
I have gone through the economic downturn of 1977, 1988, and 1993. It never mattered as people are still going to get married, celebrate Communions, Bar/Bat Mitzvahs, Anniversaries, and now, Civil Unions. The business will always be there if you seek it out and offer the client the entertainment they are seeking.
Upselling EE (Extra Entertainment) is a great way to increase your profitability.
Video montages, Big Screen TV, Up-Lighting, Zap-Photos are all ways to increase your income from your current clientele.
I am anticipating a slight slowdown for 2009 bookings, but , again, with the rate increase, I will maintain my income level.
I have gone through the economic downturn of 1977, 1988, and 1993. It never mattered as people are still going to get married, celebrate Communions, Bar/Bat Mitzvahs, Anniversaries, and now, Civil Unions. The business will always be there if you seek it out and offer the client the entertainment they are seeking.
Upselling EE (Extra Entertainment) is a great way to increase your profitability.
Video montages, Big Screen TV, Up-Lighting, Zap-Photos are all ways to increase your income from your current clientele.
Nope.
Reason being, most upscale engagements don't hinge on the economy. The people who have it to spend are still gonna part with it.
Inflation is real. The cost of everything else is going up. Why should the cost of music entertainment go down? It's costing us more to do business, same as everyone else.
Reason being, most upscale engagements don't hinge on the economy. The people who have it to spend are still gonna part with it.
Inflation is real. The cost of everything else is going up. Why should the cost of music entertainment go down? It's costing us more to do business, same as everyone else.
Business is booming as well!!
I have adjusted/re-adjusted my prices to echo.............
1) Value of my service
2) Time of services provided
3) Competition Rates
4) Steady Advertisement......meaning.....bar nights/street dances etc etc....
I would love to make more/work less....but when your name isn't on "particular events" this isn't a good thing! Some people arent looking for that awesome dj...they are just looking for someone "cheap" to help the party 'coast' through the night!
So...that is why I priced myself in the middle! Not the highest.....and definitely not the lowest!
I have adjusted/re-adjusted my prices to echo.............
1) Value of my service
2) Time of services provided
3) Competition Rates
4) Steady Advertisement......meaning.....bar nights/street dances etc etc....
I would love to make more/work less....but when your name isn't on "particular events" this isn't a good thing! Some people arent looking for that awesome dj...they are just looking for someone "cheap" to help the party 'coast' through the night!
So...that is why I priced myself in the middle! Not the highest.....and definitely not the lowest!
I'm holding my rate at the same old for 2009 and (hopefully) 2010. I had just raised it earlier this year anyway. Maybe when the economy gets better, I'll raise the rates. On the plus side, I've had inquiries about doing ceremonies, so I'm looking at adding on a small ceremony setup and charging an extra little bit for that. Folks might find that it is cheaper to have a DJ for the ceremony than a soloist, pianist, harpist, etc. 
I dropped my prices almost $100 per gig, and now have $24,000.00 on the books that I didn't have 2 months ago when I was not booking gigs at all...
My expenses per event are an average of $50.... but I've got 25+ events a week going on, and I'm full time.. I've had several 4+ year repeat holiday party clients call to tell me they were not doing a party this year.. I saved a few of them by dropping my price a little to keep them with me..
I normally get a grand out of them, but if they go to a cheaper guy, that may be the last time they call me.. I explained why I'm reducing my fee for this year, and that the prices would return to normal next year.. they appreciate it, and I retain a customer....
Like I'm going to go broke by charging $750 instead of $1000? come on now.. That's a week's pay check for a decently paid cubicle monkey who has to report to a boss in someone else's office 5 days a week, adhere to a dress code, and be there on time...
So If I charge $400 for a birthday party, I've pocketed $350-ish in 4 hours...
Many people have to go to work for three days to earn that...
I'd rather do 2 or 3 cheapie gigs a week right now... no prep necessary, no outlandish expectations, and simple setups consisting of only a couple subs, a couple bose, a pair of design spots a few LEd, and maybe a projector...
I'm still booking expensive ones, but I'll never let a customer go because I simply want more money...
It's all about the total numbers at the end of the week.
I don't care how I get there, just that we get there...
Because of this attitude, I'm one of the only DJ's in my area still not personally feeling the effect of the economic down turn.
yet the same ones that are whining are the ones that refuse to drop their rate a bit to fill their calendar.. They say I'm stupid...
I see no argument that can justify their position... I'm still well off, and they're not working... to them I say "who's stupid now Beyotches????"
when you lose your home, I'll rent you my investment property for a non-discounted rate, because I know how you feel about discounts...
My expenses per event are an average of $50.... but I've got 25+ events a week going on, and I'm full time.. I've had several 4+ year repeat holiday party clients call to tell me they were not doing a party this year.. I saved a few of them by dropping my price a little to keep them with me..
I normally get a grand out of them, but if they go to a cheaper guy, that may be the last time they call me.. I explained why I'm reducing my fee for this year, and that the prices would return to normal next year.. they appreciate it, and I retain a customer....
Like I'm going to go broke by charging $750 instead of $1000? come on now.. That's a week's pay check for a decently paid cubicle monkey who has to report to a boss in someone else's office 5 days a week, adhere to a dress code, and be there on time...
So If I charge $400 for a birthday party, I've pocketed $350-ish in 4 hours...
Many people have to go to work for three days to earn that...
I'd rather do 2 or 3 cheapie gigs a week right now... no prep necessary, no outlandish expectations, and simple setups consisting of only a couple subs, a couple bose, a pair of design spots a few LEd, and maybe a projector...
I'm still booking expensive ones, but I'll never let a customer go because I simply want more money...
It's all about the total numbers at the end of the week.
I don't care how I get there, just that we get there...
Because of this attitude, I'm one of the only DJ's in my area still not personally feeling the effect of the economic down turn.
yet the same ones that are whining are the ones that refuse to drop their rate a bit to fill their calendar.. They say I'm stupid...
I see no argument that can justify their position... I'm still well off, and they're not working... to them I say "who's stupid now Beyotches????"
when you lose your home, I'll rent you my investment property for a non-discounted rate, because I know how you feel about discounts...
It's funny it was about four years ago I was saying just this and being beat to the ground by the worthers because "everyone can do it". You are one of the lucky ones Hugh you survived it many didn't
How do you pull an event together for $50 Steve. Mabye we just calculate expenses differently but I can't seem to pull an event in for less than $100 and more often than not it's closer to $150
I'm not saying your wrong just curious
I'm holding my rate at the same old for 2009 and (hopefully) 2010. I had just raised it earlier this year anyway. Maybe when the economy gets better, I'll raise the rates. On the plus side, I've had inquiries about doing ceremonies, so I'm looking at adding on a small ceremony setup and charging an extra little bit for that. Folks might find that it is cheaper to have a DJ for the ceremony than a soloist, pianist, harpist, etc.
Your last sentence is exactly why you are not getting your price. Don't go after "Folks might find that it is cheaper..."
Stay away from these people. Go for the ones that want to have a great event and are willing to spend the money necessary to do that.
Become an ordained minister (easily accomplished via inter-net)
Offer to perform the ceremony, providing appropriate ceremony music on a professional sound system. You can charge as much as $300 for this alone.
Put it together with a reception package, and you can get as much as $1300 for the event, minimum.
Don't sell yourself cheap. Explain to the client that you can provide them with the best and most memorable services, and that their money will be well spent!
There are alot of markets that if you go after just the upscale you just wont be working. I live in one and by the sounds of it Ducky does too. I've done some real big money weddings but the average wedding around here is brought in for about $7000.
I do agree if you are willing to provide more services you can upsell they will pay more but even on that there is a limit
The point is, if you get the right price, you don't need to go after so many jobs.
If you go after the upscale jobs, and they run anywhere from $1500 to $ 5000.
The more you charge, the less y have to work.
When you can charge the higher end, you will get the reputation as such.
As you progress in your career as a DJ Entertainer, you would expect, as you would working for someone else, to get a raise in pay every year.
This is totally in your control.
In this month's Mobile Beat magazine, there is a very good article by Peter Merry on this very topic. Do you deserve a raise?
If you charge $300 per event, and work 2 gigs a week throughout the year (104 gigs) you gross $ 31,200. Hardly a good paycheck. And you are working your ass off to fill your calendar to earn this meager wage.
Isn't it more realistic to go after 50 events a year ( you need a couple of weekends off for a vacation don't you?).
At $1500 per event, you would gross $ 75,000 a year. Now we are beginning to realize some decent income, and at the same time, reducing the workload.
Additionally, you are only chasing at half the jobs you were before.
Can't find 50 $1500 gigs? Then look for 40 $1875 gigs.
Sounds tough to achieve? It is tough. Nobody ever said this would be easy!
If you go after the upscale jobs, and they run anywhere from $1500 to $ 5000.
The more you charge, the less y have to work.
When you can charge the higher end, you will get the reputation as such.
As you progress in your career as a DJ Entertainer, you would expect, as you would working for someone else, to get a raise in pay every year.
This is totally in your control.
In this month's Mobile Beat magazine, there is a very good article by Peter Merry on this very topic. Do you deserve a raise?
If you charge $300 per event, and work 2 gigs a week throughout the year (104 gigs) you gross $ 31,200. Hardly a good paycheck. And you are working your ass off to fill your calendar to earn this meager wage.
Isn't it more realistic to go after 50 events a year ( you need a couple of weekends off for a vacation don't you?).
At $1500 per event, you would gross $ 75,000 a year. Now we are beginning to realize some decent income, and at the same time, reducing the workload.
Additionally, you are only chasing at half the jobs you were before.
Can't find 50 $1500 gigs? Then look for 40 $1875 gigs.
Sounds tough to achieve? It is tough. Nobody ever said this would be easy!