One of the mistakes businesses make is not asking for more business when the time is right,
An example would be someone running a once a year event. Let’s use a camp as an example. If it’s a week long camp, at the end of the camp, if it’s well run, the kids will most likely be tired and happy. They are thinking about going home but also what a great time they have had.
Most camps, will then follow up in 6 months with information about when and how to sign up for the next year. Sadly, this is frequently too late. The excitement is gone, the memories have faded.
Instead, the camp could/should have sign up for the following summer at the end of the current session. This would allow them to take advantage of the excitement, the parents are there (most likely with their checkbooks) and when the kids and their parents see others signing up for next year, the “herd mentality” takes over. It does require some additional planning.
You could even go so far as to give an incentive for early signs up. First, it would guarantee their acceptance. Second, you could offer a small discount (as an example, if you sign up before the end of check out, this years price will be guaranteed for next year). Having the money 12 months in advance should more than make up for the loss from any potential increases. You could even offer to guarantee a spot for a small deposit. While the deposit might not be legally binding, it’s is somewhat emotionally binding.
This would also apply to yearly conventions, conferences etc.
Plan ahead, get your numbers early and see how much easier it makes your preparations!
Have a great day!