Whenever you read online posts by DJ's, you never see an answer to this problem.
You see a few DJ tips, but nothing concrete.
Not only is this a daunting problem for the beginning mobile DJ, but it also haunts experienced professionals as well.
If you charge too much you will potentially miss jobs and your calendar could be mostly empty.
If you charge too little, you will probably be sold out, but working extremely hard with nothing to show for it; maybe even losing money.
As an example, let's say that you currently charge $1000 for a wedding reception and you do about 30 per year.
If you could raise your price to $1200 without losing any bookings, you have just made yourself an extra $6000 a year for no extra work.
$6000 can buy you some very nice equipment.
It can send you on a worldwide vacation.
If your career lasts 20 years, you have just earned an additional $120,000.
Here are some DJ tips to get you booked, and make the most money you can as a professional mobile DJ.
Audit the Competition.
It's best if you could find out what all of your competitors charge.
In a smaller market, this is a must, but in a larger market, you will have to do a sample of DJs that work your area and offer similar services to you.
One way to do this is to talk and network with other DJs.
If I have a good relationship with a DJ in my market I'm not afraid to tell him what I charge.
This will usually encourage them to open up about their prices.
If not, simply ask them.
Ask them about the other guys in town as well.
However, don't be surprised to find out that often other jocks exaggerate the amount of money that they say they are charging just to impress you.
You should be able to get a general idea though.
Check your competition's websites.
Many times your competition will post prices on their website.
They may discount this price, but usually not by more than about 15%.
Write down all of the prices you collect this way, and make note of the services they offer, the quality of services and anything else that you can use to compare their services to yours.
The other way to find out what other DJs are charging is to enlist the help of a friend who can make some calls for you, is willing to accept calls from DJs and will write down the information for you.
It's probably best to pay your friend $100 or so to help out.
By paying them, they will realize how important it is to you and they won't take it too lightly.
Make sure you verbalize to them how important it is.
Get a list together of the DJs you want to find out about, including the names and email addresses.
Have your friend pose as a customer, complete with fictional date and venue.
Make sure to have your friend "rate" the DJs sales abilities and how professional they are.
These are important factors in determining who gets booked or not.
Compile all of the information you have, and determine where you should be in the range of prices and services.
Don't forget to factor in your sales ability in comparison with your competition.
Pricing strategies.
Lowest price.
The strategy here is to have the lowest price product of anyone else.
"I'll beat anyone's price" is a common slogan.
This may be good when you are first starting out.
There are some DJs that like to keep everything on the cheap, even after doing it for a long time.
The typical experienced DJ in this category would be the kind who shows up a few minutes before the dance starts with a couple of lightweight speakers, a computer and a few cheap lights.
There is something to be said for this type of operation and you do get jobs by being the cheapest.
Highest price.
Generally, the highest priced DJ will be associated with the highest quality.
This isn't always true, but if you are in the ballpark of the top of the line, you may want to use this strategy.
Usually DJs in this range have top-notch equipment, an extensive planning system, a large music library and a good light system.
They usually dress well, and have a professional approach to every aspect of their business.
The DJ is usually experienced and has an excellent delivery.
If you have the goods, don't be afraid to go with this one.
People often equate quality with price, and for many brides, the higher the price, the better the quality.
Somewhere in the middle.
"I'm not the lowest and I'm not the highest.
" This can work well also, but you run the risk of getting buried in the middle of the pack.
Inventory based.
This is a strategy based on demand.
As your bookings increase, your price goes up.
Usually you have a range starting at the lowest price you will accept.
Then, as your bookings increase, your price goes up.
For example, in my market, (and in many others) I am extremely busy from May through September.
In about August of the previous year I usually book 2 or three weddings.
They usually dribble in until after the first of the year when the requests and inquiries are really hot.
I may charge $800 for the first 3, then $875 for the next three, then $950 for the next three bookings and then $1050 until I'm sold out.
Proponents of this type of pricing strategy maintain that you should never be sold out; but rather just short of being full.
This way you know you are getting the highest prices possible.
Whatever strategy you employ, make sure to do your research and give it some thought.
When you decide on a pricing strategy, stick with it to determine if it works or not.
This is more than a DJ tip but an essential part of a DJ education and a must to operating a money making DJ business.
By having a strategy, you will appear more confident to your prospects and less tentative when asked "What do you charge?" Confidence combined with a pricing strategy will lead to higher bookings and higher booking fees.
Gentlemen, start your cash registers!
You see a few DJ tips, but nothing concrete.
Not only is this a daunting problem for the beginning mobile DJ, but it also haunts experienced professionals as well.
If you charge too much you will potentially miss jobs and your calendar could be mostly empty.
If you charge too little, you will probably be sold out, but working extremely hard with nothing to show for it; maybe even losing money.
As an example, let's say that you currently charge $1000 for a wedding reception and you do about 30 per year.
If you could raise your price to $1200 without losing any bookings, you have just made yourself an extra $6000 a year for no extra work.
$6000 can buy you some very nice equipment.
It can send you on a worldwide vacation.
If your career lasts 20 years, you have just earned an additional $120,000.
Here are some DJ tips to get you booked, and make the most money you can as a professional mobile DJ.
Audit the Competition.
It's best if you could find out what all of your competitors charge.
In a smaller market, this is a must, but in a larger market, you will have to do a sample of DJs that work your area and offer similar services to you.
One way to do this is to talk and network with other DJs.
If I have a good relationship with a DJ in my market I'm not afraid to tell him what I charge.
This will usually encourage them to open up about their prices.
If not, simply ask them.
Ask them about the other guys in town as well.
However, don't be surprised to find out that often other jocks exaggerate the amount of money that they say they are charging just to impress you.
You should be able to get a general idea though.
Check your competition's websites.
Many times your competition will post prices on their website.
They may discount this price, but usually not by more than about 15%.
Write down all of the prices you collect this way, and make note of the services they offer, the quality of services and anything else that you can use to compare their services to yours.
The other way to find out what other DJs are charging is to enlist the help of a friend who can make some calls for you, is willing to accept calls from DJs and will write down the information for you.
It's probably best to pay your friend $100 or so to help out.
By paying them, they will realize how important it is to you and they won't take it too lightly.
Make sure you verbalize to them how important it is.
Get a list together of the DJs you want to find out about, including the names and email addresses.
Have your friend pose as a customer, complete with fictional date and venue.
Make sure to have your friend "rate" the DJs sales abilities and how professional they are.
These are important factors in determining who gets booked or not.
Compile all of the information you have, and determine where you should be in the range of prices and services.
Don't forget to factor in your sales ability in comparison with your competition.
Pricing strategies.
Lowest price.
The strategy here is to have the lowest price product of anyone else.
"I'll beat anyone's price" is a common slogan.
This may be good when you are first starting out.
There are some DJs that like to keep everything on the cheap, even after doing it for a long time.
The typical experienced DJ in this category would be the kind who shows up a few minutes before the dance starts with a couple of lightweight speakers, a computer and a few cheap lights.
There is something to be said for this type of operation and you do get jobs by being the cheapest.
Highest price.
Generally, the highest priced DJ will be associated with the highest quality.
This isn't always true, but if you are in the ballpark of the top of the line, you may want to use this strategy.
Usually DJs in this range have top-notch equipment, an extensive planning system, a large music library and a good light system.
They usually dress well, and have a professional approach to every aspect of their business.
The DJ is usually experienced and has an excellent delivery.
If you have the goods, don't be afraid to go with this one.
People often equate quality with price, and for many brides, the higher the price, the better the quality.
Somewhere in the middle.
"I'm not the lowest and I'm not the highest.
" This can work well also, but you run the risk of getting buried in the middle of the pack.
Inventory based.
This is a strategy based on demand.
As your bookings increase, your price goes up.
Usually you have a range starting at the lowest price you will accept.
Then, as your bookings increase, your price goes up.
For example, in my market, (and in many others) I am extremely busy from May through September.
In about August of the previous year I usually book 2 or three weddings.
They usually dribble in until after the first of the year when the requests and inquiries are really hot.
I may charge $800 for the first 3, then $875 for the next three, then $950 for the next three bookings and then $1050 until I'm sold out.
Proponents of this type of pricing strategy maintain that you should never be sold out; but rather just short of being full.
This way you know you are getting the highest prices possible.
Whatever strategy you employ, make sure to do your research and give it some thought.
When you decide on a pricing strategy, stick with it to determine if it works or not.
This is more than a DJ tip but an essential part of a DJ education and a must to operating a money making DJ business.
By having a strategy, you will appear more confident to your prospects and less tentative when asked "What do you charge?" Confidence combined with a pricing strategy will lead to higher bookings and higher booking fees.
Gentlemen, start your cash registers!