I often see heated discussions on social media about whether you should charge the same for Friday, Sunday, weekday, and off-season weddings and events, as you do for Saturday nights. There are passionate arguments on both sides of the DJ world. Some people contend that you’re doing the same work, therefore you should charge the same. That’s a sound position.
Others say that they can only do a limited number of Saturday events per year, therefore they hold to their price, also a valid argument. Looking at it from a different perspective, some DJs speak of not getting as many enquiries for Fridays, Sundays, or weekday events - so they offer a discount to encourage those to book. That too makes a lot of sense. There are successful businesses on both sides of this discussion.
So what’s the right answer for your entertainment business? That’s the thing - there is no one right or wrong answer. It’s going to depend upon your business model and your goals. Are you trying to increase the number of events you do?
If you’re already booking the most popular dates you can’t do any more events unless you take on more staff, something many of you are reluctant to do. Trying to book the dates Pro Mobile Conference irst Time Delegate's Story By Alan Berg With more than 20 years of experience in wedding-related sales and marketing, Alan Berg has been called ‘The Leading International Speaker and Expert on the Business of Weddings & Events’ . He is also the author of four books which are all available on Amazon in paperback, Kindle and audio formats.Find out more about Alan and his consulting and website review services at Friday and Sunday Pricing Should It Be Lower? that are less in demand isn’t as easy as just saying you’re available.
It takes a strategy that includes marketing, advertising, networking and, yes, pricing. I’m not saying you have to discount to book those dates, but it has to be part of the discussion. Supply and Demand The most basic principle of economics is supply and demand. I’ve spoken and written about this often, and it’s a common discussion when I’m consulting with DJ businesses, like yours.
What we’d all love is more people wanting to buy our product or service (that’s the demand) than we have available to sell (that’s our supply or inventory). Then we have pricing power. When there’s less demand there’s pressure to lower pricing. What’s your inventory?
All of us have an inventory, and it’s not just the physical goods that are involved in our work (speakers, consoles, lights…). Time is the most limited resource of all. No matter how many weddings or events your company can do in a day, there is a limit. Even if you staff-up you’re going to eventually run into a wall and run out of supply.
For some of us it’s easier than for others; an entertainment company can hire another DJ easier than a venue can build another function room! If you’re doing the right marketing and networking you should be getting enough leads to at least book the most popular dates. If you can fill your calendar early in the season or without much price resistance, you probably have pricing power. (And it may be time to increase your rates!) Do you like getting a discount?
Another factor to consider is that everyone likes getting a discount, don’t you? Have you ever asked for a discount? Probably. If so then don’t fault your customers for asking you for one.
You don’t always get one when you ask and you don’t have to give one just because you’ve been asked. But don’t get upset or insulted because someone has asked you for a discount. You don’t have to say, “Yes” . You can say “no” , with a smile.
Be happy that you’re having that conversation at all. Many of your competitors will never speak to that prospect! But my services are the same no matter the day That’s true. You’re going to provide the same level of quality entertainment and service no matter what you’re being paid, no matter the day of the week, or month of the year.
That said, there are lots of times when we get to pay more, or less, based upon some factor. Movie theaters often have weekday pricing, yet the movie is exactly the same. OAPs and students are often offered discounts when the rest of us have to pay full price. Is it right, or wrong, when the product/service is the same?
Discounting vs. negotiating In my presentations on pricing, I discuss discounting versus negotiating. The examples above were all discounts that have a structure. They have rules and those rules are applied the same to everyone. Every OAP who attends the show, or stays at the same hotel, is offered the exact same discount.
If they ask for a bigger discount the answer will be “NO” . The rules for the discount can be easily explained and you can see whether you qualify or not. Offering a discount for a Friday evening wedding versus a Saturday evening wedding is an easy rule. If Saturdays book up fast for you, and Fridays don’t, you might choose to offer an incentive.
Or you could just have a higher price for Saturday, not a lower one for Friday. Yes, it’s semantics, but that too is very common. Workers often get paid extra for working overtime, yet they’re doing the same work. Likewise hotels and airlines charge more for high-demand times.
The Wild West Negotiating, on the other hand, has no rules. You give bigger or smaller discounts to different customers, even when they’re buying the very same DJ, lighting and entertainment services. You offer larger or smaller discounts depending upon how badly you want that sale or, in many cases, how desperate you are for that sale! I’ve often said you should always negotiate as if you don’t need the business - even when you do!
It’s also important to remember, in this digitally connected world, that people talk about, and read, the deals others have negotiated. Should you discount Fridays, Sundays and weekdays? Whether you decide to discount - or not, or charge more for some dates - or not, is solely up to you. You should do it to fulfill your business needs and goals, not anyone else’s.
Listen to what others are doing, but don’t copy them. Do what’s right for you. As a consultant, I help people decide what’s right for each client. As a businessman, I don’t expect anyone else to copy what I do, because that’s what’s right for me and it might not be right for you.
Choose your own right path!
