How can you make more profit in the entertainment industry? BookYou supports the following 6 options.
The basis is ofcourse the competence of your service, your abilities. Keep this as supreme as possible! But without bookings no profit. So next to the performance there are 3 factors that decide your succes:
A The amount of bookings (frequency)
B The amount of services per booking (volume)
C The price of your services (value)
Frequency x volume x value = revenue
So how can you score as high as possible on these factors? BookYou supports 6 options within the entertainment. If you set your target at doubling your revenue then you can use the following formula, with adjecent to that side-targets.
A1: 10% more direct customers:
BookYou separates customers in two groups; direct and indirect. The direct customers arethe customers that have direct contact with you(e.g. via the booking site that BookYou offers for free) These first grade customers find you via for example search engine marketing, a tool that BookYou offers in order to let you pop up higher in the search charts. You add specific searchwords and topics in the system in BookYou and the application does the rest. For Example ‘’beste underground DJ or DJ with percussionist’’. This works the best if you use differentiated searchwords which can be found easily on Google.
The second way to up the frequency is: More indirect customers, also good for 10%
In the entertainment you also face indirect customers. They find you via an agency or another person. With Network Bookings from BookYou this is very easy. Though you need to activate Network Bookings in the BookYou application. After that other users of BooKyou can see your services. If they like it they can contact you for a mediation. It also works the other way around.
Tip: Let your artist be mediated by agencies, that have not yet have artists like yours so that your artists really pop out. And do not leave it with one agency, but you try to mediate your artists with as much agencies as possible! That makes the range of your products bigger!
The third way for a higher frequency: selection mailing, good for 10%
The purpose is that customers are becoming returning customers. This is what selection mailing is for. These are e-mails in which you communicate short but useful messages written in your own style to the customer. If you have new artist, or personal invitation to an event etc etc. Every contact receives this with his own personal header. This is to be set per customer. So the mass of a newsletter with the personal touch of an e-mail. This makes that the newsletter is read more often and earlier.
The fourth way: raising the conversion rate, in this example good for 15%
With BookYou you can raise your conversion percentage. This means that your score of the amount of options that become definitive bookings is going up. If that is now 5 out of 10, than your goal is going to be 8 out of 10. If you use the automated option reminders your customers will be reminded multiple times during his or her decision making process, if you follow this up with a personal conversation your ahead two steps ahead of the competition. With this BookYou makes it simple to have a reminder for yourself, so that you know when and what to do when the time is right. This can be one time or frequent reminders if it is a recurring event. Also the raise in volume can lead to a higher conversion rate and thus more profit.
B, the volume: How can you create a 30% increase in size of your booking?
With BookYou you can save up to 70% time compared to excel on booking and administration. This time can be used to put more artists in the market and let the agency grow. A growth of 30% also means an increase in revenue of 30%. BookYou stimulates strategies to grow in variety of entertainment. With BookYou it is possible to mediate and arrange extra products within a couple of clicks. With mutual consent you can select artists that supplement your act and target group. These are side services. Not only the size of your company will grow but also the status in the scene. As you offer a wide spectrum of artists the customer will get a better perception of your company. This earns trust and the chance of actually getting the booking. More bookings, more profit.
And eventually, C, the pricing, how can you make your price go 20% up, with the customer paying it as well.
This is a good option for artists who are in the lower price range at the moment. The price of an artist is determined by the capabilities, but also his status. BookYou offers you the tools for a superb profile/website. The experience of the customer while visiting your page is crucially important on deciding your price position. The trick is creating the feeling that you are the professional, reliable, nice person they are looking for. The more you create that feeling, the more the customer feels he needs to book you. This will raise the price you can ask.