Posts Tagged ‘Recession’

INNOVATION WINS EVERY TIME!

August 3, 2009

In a recent article in Advertising AgeJack Heff writes  about a new product from SC Johnson that exceeded sales expectations by 400%…in a recession…with a really high price point for what it is…insect repellent.   The Off Clip-On Fan’s suggested retail price is $9…if you can find it as it is sold-out almost everywhere.  But Neff’s article says that Amazon (who does have it in-stock) “is charging $12.89 for a starter kit and $8.49 for refills…”  Can you imagine a fancy bug repellent dispenser selling in this economy while we can’t give our tickets away (it still costs too much to park, eat, drive, get a sitter, etc)???  Someone needs to turn us upside down and shake us!  We need to get the innovators from our business out there innovating!

We have seen what C3, Superfly, Goldenvoice/AEG Live, AC, Coran Capshaw, Kevin Lyman, CAA, and William Morris (among others) have been able to create in the past on the festival front.  It has built new businesses for many of our clients and changed the landscape of the U.S. concert business.  I know that many of you reading this wish you were in business with several if not all of those above.  I do!  So what’s next?  Where is the next Cirque?  How about ice shows?  Remember when they were the rage?  We need a good swift kick in the… innovation!

DINNER CLUB – NY

It seems that most cities are taking August off from Aspen Dinner Club Meetings (if you haven’t been to one yet, you really should go)…but not our die-hard New Yorkers!!!  You don’t have to be in the music or live businesses to come.  You just need to have a brain…and a little cash to chip-in.  Please forward to anyone you think should come.  RSVP is preferred as Gayle Miller has reserved a private room …email @ rockinhorse@mac.com.  Anyway, the information is below.  Have Fun!!!

Stitch was voted the Best Afterwork Bar by CitySearch.com, offers food & drink, & will give us a “happy hour” deal. 

Date:  Wed, Aug 5

Time:  7 pm – 9 pm ish

Location:  Stitch Bar & Lounge

                         247 West 37th Street (between 7th & 8th)

                         (212) 852-4826

 

 

 

                        http://www.stitchnyc.com/

Speak with you soon…

Jim

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This Is A Bull Market!

October 28, 2008

We have all read of great military victories where outnumbered forces win over far superior armies.  The Battle of Guagamela where Alexander and a force of 50,000 (or less) beat back over 200,000 Persians or Julius Caesar’s victory at Alesia, where his Roman army of 30,000-60,000 defeated over 300,000 Gallic tribes.  You see these same kind of remarkable results every day on sports fields and conference rooms around the world.   Teams, athletes, businesses that should easily win on paper are beat by those with inferior resources, skills, size, etc.  They do it through the will to win (among other things).  This is the attitude we are taking through our current economic downturn and we suggest you do the same.  It may be ugly on Wall Street, but in the Entertainment and Branded Live Entertainment businesses, it is a Bull Market!!!

Going to work everyday worrying about the economy is not going to make it better.  In no way am I suggesting you forget about it, in fact just the opposite.  Look at the recession as an opportunity to serve fans, talent, partners, brands, etc.  Find new ways to reach and talk with your consumers…start a dialogue…build or re-build a community.  Put the audience first.  Here are some suggestions (some may be painful) on how to win in our Bull Market.

1) Spend more time working on fewer projects. With the number of shows, festivals, and attractions we are putting through our markets, there is no way to do a great job on all of them so it becomes a numbers game.  Stop that shit.  If you don’t believe…don’t have passion, let it go to your competitor or same it for another time.

2) Marketing is not buying ads and putting shows on-sale! There are event and entertainment marketing people out there from Feld to Disney, AEG to Live Nation, who would love the budgets, staff, and tools that their counterparts at companies like GM and Unilever have to work with.  Take on fewer shows and maybe those budgets and tools will exist.

3) Spend time with your team thinking about price points. Consumer value is the name of the game here.  How many times have you put together a small focus group even within your own office to talk about how much a ticket or hot dog should cost?

4) Leadership is key to winning! Whether the CEO of a big company or President of “Me Inc.” you need to lead by example.  Show the world you aren’t scared and have a plan to move everyone forward.

5) Now is not the time to cut staff or marketing budgets. They are both easy targets during hard times but ultimately could and will have negative effects on the long-term heath of your business.  Cutting staff is bad for morale both inside and outside the company.  As for marketing budgets, any business that either increased or kept their marketing spend level during the recession of the early ’90’s came out ahead of their competitors when things got good again.

6) Look at winners for inspiration. Target’s numbers are down, Wal-marts are up.  Follow the leader when developing and or marketing your next event.

Yes, you can read “The Secret”, pray, or call Mom and Dad for advice (I do all the time).   They all may work for you.   For me, I think about the fact that everyone needs an escape from their daily lives.  Live entertainment can bring that to them like no other medium.  It is something you share with those around you…a moment in time that can’t be captured.  The other day, win guru Gary Vaynerchuk passed on a big money speaking gig because it conflicted with a NY Jets home game.  When I asked him why, he said something like “he could always make that money back but could never take back those Jets snaps”.

This is a Bull Market!!!

Talk with you soon…

Jim