by Jerry Bazata
Although I’m not a professional prognosticator, I am a Senior Vice President of a global financial institution, a consultant to the event planning and music industries, and a mobile DJ. These positions put me in a unique position to see upcoming trends.
So, just for you, I’m going to gaze into my mirror ball and tell you what my DJ business predictions are for 2011.
My Top 10 Predictions
- Increased spending on new technology and equipment will be the major initiative for most mobile DJs. With more pro audio companies embracing digital technology and advancements in traditional style players, those avoiding the laptop will embrace this new equipment.
- LED Lighting will continue to evolve and lasers will play a major role in lighting designs due to the reduction in costs. Additionally, uplighting and lighting packages will become more attractive as an add-on sale for brides and corporate event planners seeking an enhanced experience for their events.
- Video integration will take further hold of the wedding market as more DJs incorporate family slide shows into the overall entertainment experience for reception guests. The low cost of flat screen televisions will enable mobile DJs to have them on hand as part of their standard set-up.
- Financing for all this new technology will become more available as the credit markets further open up. We will not see the liberal lending policies return any time soon as you will still have to prove your ability to repay the loan through reportable profits. Lending institutions will be actively marketing to small business owner in 2011
- Continued tax savings through accelerated depreciation and 179 deductions will increase tax savings and encourage owners to reinvest more capital in the business. Mobile DJs will be looking to take advantage of this opportunity to upgrade equipment, which most have been postponing since 2008.
- There will be an increase in sales to the corporate clients as DJ companies allocate more dollars to their sales and marketing efforts. Industry trade show attendance will increase as will employee and client recognition. Having the skills to help create events will put mobile DJs front and center with most event coordinators.
- The Bridal Market will be extremely active in 2011 and even out to 2013 as those who have been putting off wedding plans are now ready to make the commitment. High end wedding receptions will increase as those who prolonged the day will have additional funds to purchase additional services from the mobile DJ. The mid-range market will remain highly competitive. This market will not only require the ability to compete as commodity to but to be able to sell the “value proposition” and get your price.
- Social networking will continue to generate the best resource for developing leads; however, it will not replace the primary marketing tool, which is your website. Mobile DJs will be investing in upgrades and enhancements to their websites. Professional networks and affiliations will play a key role in raising the creditability of DJ services. References in 2011 should include a network of vendors that can attest as an independent source to your professionalism and ability to deliver a high quality service.
- Increased news reports by the industry in the prosecution of file sharing and illegal distribution of copywritten material. Knowingly sharing your subscriptions with other DJs or not obtaining music from a trusted source may make you a target and ultimately cost you your business. Technology and watchdog groups within our industry are making this a key initiative in 2011 to protect the revenues of the music industry.
- Education and continued training will be the focus for many DJ business owners. Access to knowledge via blogs, webinars and trade shows will all increase in 2011. Spending overall will increase about 10%-20% both from the vendors looking to educate and those seeking the knowledge.
Care to share any of your own predictions?
Jerry Bazata – Money Answer Man
Jerry Bazata (Maine’s DJ Jaz) has over 25 years of experience as a professional DJ entertainer. His firm, J & J Marketing and Entertainment, is a leading consultant to the event planning and music industries. Jerry is a published author and is recognized nationally as an authority on the disc jockey business. He is also Senior Vice President of a global financial institution. To learn about Jerry’s DJ company, visit MaineDiscJockey.com and you can email him at Jerry@mainediscjockey.com.