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Our wedding
reception market is large in comparison to other parts of the
country; the unofficial estimate being tossed around is approximately
20,000 last year. My rates for basic no lighting receptions range
from $850-$2,500 and I have limitations on events I can personally
participate with due to the fact that Friday, Saturday, and Sundays
are our main reception dates. Having a large market, I only have to
do 1% or less of these events and I'm jamming; team that with 90% of
my bookings being referrals, and I don't have that hard of a time.
There are a few who have raised the bar in my market as well, however
it's no more then a Limbo Pole. They charge top rates for their
personal service, but still bid low when needed and they sub out jobs
at a lower rate as well. This practice serves to benefit no one. I
feel that dangling the higher rate as bait for anyone willing to pay
it is un-ethical;my rates are in print and solid-- no bargains, no
sliding scale, no hype!
I've found it easy
to collect what I'm worth due to the high percentage of receptions in
my surrounding market, but what IS amazing, is that I have priced
myself out of my local market or "county". I did
"0" business other then the donation of my services for
several worth while causes last year, so when I read "Geography
has nothing to do with getting what your worth", I would only
agree if the worth is scientifically based on your specific market;
not on a nationally established fixed rate. I used the exact same
marketing materials, offered the exact same service, and quoted the
exact same rate, and not one client booked me-however, the majority
did ask or tried to obtain a reduced rate. What I consider my
local market now is everything within a four-hour drive; on average,
I drive a minimum one-hour drive to each event. As I raised my rates,
I actually found myself changing my market area and increasing the
size of my market. I've read posts where others have expanded their
marketing area to collect higher rates also, so it is possible to
price yourself out of your local Geography. Planning and market
research is very important. I've read where many companies include
lighting with every package. I have approximately thirty thousand in
Intelligent lighting which I offer as additional packages. I decided
long ago, when the manufactures give me lighting, I'll then give it
to my customers. LOL! I only had two up-sale's last year that
booked lighting, and it has not affected my business; if it had, I
would have quickly re-added this feature to my packages (this would
have been market research via trail and error LOL).
It seems that the
higher value many have obtained that I've read, offer extended or
VERY personalized services or years of experience in justification of
higher rates. I'm not an average DJ as I've read others claim they
are, my personal experience and detailed event production is a couple
of my power points; however, I would be first to admit there are
markets I would never be able to obtain my present rate plan and
sustain my present position as a FULL-TIME, it IS my real job,
professional entertainer. I don't get the Friday evening
sock-hop or the Thursday evening birthday party or the car show at
In-&-Out Burger, or the ribbon cutting at the new 7-11; it's been
years since I did a Toga party and you sure as hell won't see me at
the local pub any night soon. There are enough events in my market
for my small percentage willing to pay my rate for my personalized
service and there are thousands of events that will say rate is a
major issue and look for their perceived value from another who is
willing to only charge that rate and that is a fact I live with.
My advice to
anyone wishing to charge the rates many boast of and you feel is
unattainable; work on your performance, educate yourself as to the
type of events you feel confident in, and as you gain experience and
knowledge, the value will be reflected in professionalism and
obtaining such rates will be a breeze. However, Fail To Plan, Plan To Fail.
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