The Economy is Killing the Wedding Industry!
The slow down began in December of 2007 but didn't really hit until October of 2008 and is estimated to continue to worsen until 2010. Are you prepared?
For years I have been promoting and preaching about DJs needing to raise their rates to represent the quality, skills, talents and experience of their business. I followed the Mark Ferrell's "Getting What Your Worth" mantra and to this day still believe in it's message and it's positive effect on the DJ industry... But the winds of change has hit the economy, the number of DJs continue to rise while the number of events with an entertainment need continues to deplete.
Everyone is looking to save the few pennies that they have and have turned to hiring the "Discount" low budget DJ. So what happens to those of us who have raised our rates to a respectful and needed price to cover the bills, we suddenly are losing business to many untalented, unexperienced and unpredictable DJs.
The economy in many areas just can't sustain the number of DJs available on any given night and/or the DJs who are higher in costs then the "average" DJ in the area.
Many DJs including myself are trying different ways to attract the fewer events available to the huge numbers of those calling themselves entertainers.
What will work for you if you are facing a slow down in 2009 - 2010 events?
Options:
1) Reconfigure your packages to add value to them
2) Offer a sale for a limited time.
3) Reconfigure your standard billing rates
4) Increasing advertising
5) Networking/phone calling
Or a combination of several or all of them.....
Good Luck.