We’re just crossing mid-year and I hit a major milestone: I have as much on the books halfway through this year compared to ALL of last year!
I’m keeping up with my targetted revenue growth of doubling each and every year. I hit $25k last year so basic math would tell us that I’m looking at $50k for 2018.
It’s also looking like I’ll be able to keep expenses flat despite the massive uptick in revenue.
|Gross Rev||Expenses||Total Gigs||Private Gigs||Private Rev||Bars/Clubs||Bar Rev|
Weddings, Weddings, Weddings
So what can we glean from all these fancy numbers? The big thing sticking out is the explosion in Private Gig Revenue. Weddings have accounted for the big growth here.
I had five weddings in 2016 and unfortunately followed that up with absolutely zero in 2017. That changed in a big way this year, as I played five weddings over a four week period in May ALONE. So far I have 11 on the year with another already booked for 2019.
Bar revenue has fallen off a bit but that was to be expected. I stopped spending any and all energy working into the bar scene to focus exclusively on weddings and clearly it’s been paying off. I even began turning away bar gigs to double down on growing the most valuable part of my business.
As you can see below, I’ve done fewer gigs and my revenue has grown. Bar gigs pull in $200-250 not including tax or expenses. My average weddings have been priced at $1500 depending on the package. This is exactly what I planned on.
From Whence They Came
Below I break down percentages of where my revenue has been coming from.
Since a large portion of my income last year were bar gigs, Industry Connects & Multi-ops contributed to half of my revenue. Now that I’m turning away from bar gigs they’ve contributed to only a quarter of my revenue with Paid sources picking up the slack.
Paid sources include sites like Gigmasters and WeddingWire. A big reason why they’ve spiked up is because of the testimonials I’ve gathered.
|Word of Mouth||100%||100%||100%||70%||41%||31%||33%|
More Reviews = More Leads (& Gigs)
In August of 2017 I signed up for a Wedding Wire Pro account and through January 2018 I only had two reviews. By June I got that up to TWELVE, with every single wedding client writing me a testimonial.
Industry average is 20%, 30% at best if you follow-up four times. Once you break double digit testimonials Wedding Wire’s traffic DOUBLES. Anyone can tell you that doubling your ROI is huge, because now you’ve got twice the bang for buck. And Wedding Wire is not cheap.
I’m getting more and more qualified cold leads from clients who are willing and able to pay for quality service. If you don’t have the reviews or marketing assets (like a great website and professional photos), you’re just not going to make the sale outside of budget shoppers.
How Did I Get Reviews from 100% Of My Clients?
It all boils down to doing the unexpected. Spending just 2% of my gig revenue on a gift, my clients were jumping up and down to write me a glowing review!
Look out for the next the article or sign up for my newsletter to be the first to know when it’s posted!
2018 Wedding Trends by Wedding Wire
The following are my notes from Wedding Wire’s most recent webinar focusing on wedding trends of note for DJs & Bands as useful tidbits to pass along to prospective clients. By staying on top of the industry and conveying to your clients where weddings are headed, they’re more likely to view you as an expert in the field and thus more likely to entrust you with their big day. Enjoy!
- 1/3 weddings taking place Sept thru Nov
- 15% weddings in October
- 22% guests ask guests for an unplugged ceremony
- Assigned tables, free choice seating
- 50% couples writing their own vows
- Less aisle markers, more focus on backdrop
- More personalized experiences/elements
- More unique food to the wedding location
- More themed wedding décor – Ex. Wood theme, less décor by color palette
- More low-flower centerpieces so table can see each other and talk
- Food trucks are in after the reception
- Top-tier cake, then small desserts for later
- 50% serve a buffet style dinner
- Photo Booths still in however with different props: less boas, more signage
- Less Father/Daughter and Mother/Son dances
- Less couples changing last names
- Less Honeymoons right after wedding; more mini-moons
- Less wedding party members divided by gender
- Less sparkler exits
- Less traditional Save-The-Date invites in the mail
- Less menu cards sent in the mail
- God only knows – John Legend
- Perfect – Ed Sheeran
- How Would You Feel – Ed Sheeran
- Helium – Sia
- I’ll name the dogs – Blake Shelton
- Greatest love story – lanco
- Love – Lana del rey
- Best party – Daniel Chester
- My forever – Tamar Braxton
Narrowing down everything into your budget:
- Pick your top 3 or 5
- Focus on things guests will notice & remember
- Guests most comment on Food & Experiences (Band, DJ, juggler, etc)
For an in-depth view on the most recent wedding I did including each and every song I played, check out my article here: My New Year’s Eve Wedding Playlist