Archive for December, 2008

Published by FON on 23 Dec 2008

Maximizing Revenue During Peak Times

Happy holidays to everyone!

I hope you enjoy the holidays yourself — and that it is profitable business-wise.

This is a hugely important time for many venues and promoters.  For some, December does over 40% more than their average month. This is especially the case for those that emphasize private parties - a lot of booking revenue is available (though in many locations the competition for it is brutal…).

That brings to mind the importance of maximizing revenues during your peak times.  Many operators run into capacity issues during the peak periods and cannot truly maximize their revenues. What do you do to maximize your results during peak periods? Do you have a systematic / strategic plan for periods like this? How far in advance did you start your marketing activities? What did you try this season that is new or different?

The fun thing about this industry is that there are always new ways to do things, new opportunities to apply creativity, and new techniques to leverage your marketing initiatives. It is never boring!

Have a great holiday season!

Published by FON on 14 Dec 2008

Very Important Procedures

VIPRookie nightclub owners (and vets alike) often ask how they can better organize and manage their VIP and guest list reservations. It doesn’t take long to realize that a no-show or a booking error can significantly impact your revenues on any given night. How do you make sure you’re bringing in the most business you can and maximizing your profits on reservations? The truth is, there are many different ways of staying organized though most build upon the same fundamental principles.

Get a system in place. It can be as detailed or loose as you’d like but make sure you have a system you and your staff can follow so that everyone is on the same page. For example, do your VIP reservations have a minimum spend? Do you have cancellation or no-show charges? Do your guest list customers get perks like no cover or queue jumps? Do all of your staff understand how these policies are applied on different nights of the week? By keeping these policies in place, you’ll always know what to expect and your VIP customers will understand that you take your reservations seriously.

Get the most out of taking reservations. Sure, a reservation can just be a name and a date but with today’s technology why not get as much as you can out of it? When someone calls to book a reservation, you should add that person to a customer database and grab as much information out of them as you can (without seeming overbearing). Get their email address, their cellphone number and why not ask them if they’d like a bottle waiting for them on their table when they arrive? Keeping a credit card on file for VIP guests never hurt either.

Make sure to confirm and remind. If you know how much a lost reservation costs your business, then you know how important it is to make sure your guests arrive. By getting customer contact info (see above), you’re greatly increasing your chances of avoiding a no-show or a cancellation. Send a confirmation email a few days before a reservation or a text message reminder a few hours in advance - and automate this process as much as possible. You can even up-sell with a confirmation by letting your VIP know what your club has to offer. Confirmations reassure your guests that you are on top of their reservation and that you value their business. Plus, when you tell your guests that they’ll receive a confirmation email with the details of their reservation, you have a legitimate reason to request their email address — and they have a reason to agree to giving it to you! With the ever-growing importance of good email lists in nightlife marketing, this is a key benefit.

Keep your staff informed. Nothing is more frustrating for staff and customers than a mix-up at the door or with a food & beverage order. Make sure you have a way of notifying your staff about important reservations. Nothing says VIP like your club’s bus boy asking your customers, by name, how their evening is going. Nothing turns a good customer off faster than the customer turning up at the door, their own guests / friends in tow, and finding their name missing from the list.

Always follow-up. Checking in with your VIP customers after a reservation is critical. You can make sure they had a great time or, if they didn’t, find out why and make sure it’s fixed for next time. You can also take the opportunity to invite them back and let them know of any deals or theme nights they might be interested in.

This is just the tip of the iceberg, of course, but making sure that even just these core systems and processes are reliably in place can make a huge difference to the bottom line.

Published by FON on 03 Dec 2008

Blast Tactics: Promoting Your Club With Text-Messaging

Tatango

Young Entrepreneur recently interviewed the CEO of Tatango, a start-up text-messaging service that launched in 2007. For some club owners, text-messaging services have provided significant advantages as far as marketing/promotions and Tantango is looking to join the fray. In the interview, CEO Derek Johnson boasts having already helped send “15 million text messages to a wide variety of groups, including college clubs, religious organizations, non-profit associations, athletic teams and businesses since the launch.” With an easy-to-use interface and unlimited mass-texting at a monthly cost, Tatango might be a good solution for club owners who like to keep it simple.

Competitors like FireText are much more geared to the nightlife scene. Their products include Text to Screen, Bulk Text Messaging to customers, and Private Flirt Messaging - services that the tech saavy club owners could get behind.