People aren’t coming to your club for your $500 bottle of vodka or your $13 drink; they’re coming for your party. Without a great party, you don’t have an audience. And without an audience, you don’t generate revenue.
Here are the top 4 things you need to have nailed down in order to host the best party:
Know your audience
The people you are throwing the party for should define your business model. This means you need to know your customers inside and out. It’s not enough to have a basic understanding of only demographics. You need to discover their idea of a good party, the music they like to hear, the alcohol the like to drink, and even the servers they prefer. Do your research and work with a partner who can offer these valuable insights.
Get the word out
Once you’ve defined your audience you can start to spread the word. It’s much easier to market and promote your party when you know exactly whom you’re trying to reach. The best strategy is to always keep your customers informed while maintaining a clear and consistent message in all your efforts. Use a multi-channel strategy to get the word out, such as text-message marketing, printed collateral, email updates, and social media. Just using one channel – such as posting a billboard – will not do. Diversify your efforts, track returns, and adjust focus based on results.
Turn your party into revenue
When it comes to a good party, it’s the experience – not the deal – that keeps them coming. It’s critical to understand what your customers will pay in return for a good party. Make sure you don’t sell yourself short and maximize your revenue when at all possible. People understand and have been programmed to pay top dollar for major events. Take note, not advantage, of these opportunities if you seek long-term success.
Maintain the party
The idea is to always keep your guests coming back for more. Treat everyone like VIPs, from the bottle buyer to the general admission guest. Keep them entertained by constantly surprising them with special events. Focus on service levels and make them feel appreciated. Your guests will not only continually come back, but they’ll also tell everyone they know.
At the end of the day, revenue is a byproduct of the value of your party. Make sure you first and foremost throw a good party, then be constantly aware of your guests, surprise them from time to time, and treat them with the service they deserve to keep them coming back.
John Wickes is an advisor for BookBottles.
