We’re keen to show Karaoke Jockeys and show hosts how they can double, triple or even quadruple their nightly revenue. There’s a paradigm shift in karaoke entertainment that’s already begun rolling, and we want everyone to share in the opportunities and avoid the pitfalls that are to come.
Most karaoke professionals know their business well, and work hard to maximize the money they can make from each of their venues. These pros keep their eyes on the ball, understand how to play the long game, and look for ways to increase their take-home over time by building their clientele from the ground up.
Karaoke Summit 2015 is geared toward showing that forward-looking professional how to use new tools to increase the engagement their singers have over the course of each night of entertainment, how to solidify the relationships the singers have with the KJ and the venue, how to extract more revenue from each gig, and how to keep those customers returning again and again.
Learn more about the topics and program below.
The Smartphone Revolution
What’s not immediately clear is what opportunities these fundamental shifts in behavior offer the karaoke industry.
Certainly there are some major players in the karaoke space vying to put that killer karaoke app on the smartphones of the world. Indeed, we are one of these. But while the others are either focusing on a consumer play, or leveraging novelty in order to move as many apps as possible before the flavor-of-the-minute moves on, we want our entry into the market to accomplish much broader goals.
We asked ourselves, what if a karaoke application could not only benefit the consumer through convenience, pricing and availability, but also give the professional KJ and their venues an opportunity to make more money, all while returning even more revenues back to the intellectual property owners on which karaoke music is based?
We believe a rising tide should lift all the boats.
So, who’s in those boats? Who stands to gain when the karaoke industry expands?
This is not intended as an exhaustive list, but all these stakeholders are bound to benefit.
- The songwriters and composers who create the intellectual properties on which karaoke is founded.
- The publishers of the underlying musical works.
- The performers and recording artists of those songs.
- Record labels who release the original versions of those songs.
- Companies involved in the merchandising and cross-promotion of products associated with recording artists and their songs.
- The studios who make and distribute karaoke versions.
- Licensors and performing rights organizations.
- Online and offline retailers of karaoke downloads and streams.
- Software and hardware developers who facilitate karaoke consumption for both the consumer and professional markets.
- App, software and hardware stores.
- Platforms that deliver content to audio-visual devices.
- Venues that feature karaoke.
- Professional Karaoke Jockeys.
- Singers who perform karaoke at home or in public.
- Products and brands that sell through venues benefiting from karaoke.
The list is ordered more-or-less according to the supply chain, and not by importance. In fact, we believe that all the players are equally important, and wish to stress that the karaoke industry is in no way a zero-sum game. A system that nurtures and encourages the growth of our industry must by definition consider the interests of everyone.
Big Data for Small Business
So what brings all these stakeholders together in a way that’s meaningful for the end-user? The obvious answer is “the smartphone”. This single device has become not only ubiquitous (or nearly so), it also has the ability to tie all the stakeholders together with the patron in a way that builds persistent engagement over time. This is particularly true for the most desirable demographic groups – younger patrons willing to part with discretionary income in exchange for a superior karaoke experience.
Furthermore, once a smartphone platform has been established, one can use data about user behaviors to bring even more value to the stakeholders. Every single entity in the value chain can benefit from this, as long as the data is presented to them in a way that makes sense for their enterprise.
A word on data and privacy: End-users, and especially younger end-users, are more than willing to part with data regarding how they interact with their devices and apps. This is in fact the entire business basis for the behemoth known as Google.
How specifically might a venue or KJ benefit from this? Let’s look at some examples. As a venue, you’d love to be able to communicate with your patrons through their smartphones. You can offer drink and food specials, promote special or regular events, reward loyalty with promotions, and in general run an entire gamut of marketing and advertising strategies, directly to your patron, through a device with which they already have a strong affinity. And as they respond to these triggers, you can track how well each one performs, which lets you refine your messaging to become more and more effective over time.
As a KJ, you can use all the strategies above, as well as communicate to the patron where they are in the queue, alert them when it’s almost their turn to sing, give them a single-tap method of tipping you, allow limited interaction with the rotation by monetizing bumps, and much more.
By telling you how well your efforts are performing, you get immediate vital data on how to improve. And that’s key to growing your revenue, no matter where you are in the value chain.
What’s this “Engagement” thing?
KJs are not strangers to engagement strategies. They engage with their customers every time they take a song slip, or talk with their singers about the songs they sing.
But technology and smartphone pervasiveness allows a broader and deeper level of engagement than has been available before. KJs and venues might be maintaining a e-mailing list, or posting frantically to their Facebook pages (with perhaps ten percent of their followers being presented with each post to their Pages). Smartphone apps extend the ability of KJs and venues to communicate directly with their customers through push notifications, location-based triggers, behavior-based communications, and more.
Direct feedback from customers and much marketing research has confirmed that customers are not only willing to accept these communications, they actively appreciate them – as long as they are relevant to their experiences. One quick way to alienate a customer is to spam them with non-relevant messaging, so it’s important to get and keep accurate and current data.
The combination of extended reach with relevancy is one of the major game-changers the karaoke industry must adopt in order to stay relevant against other entertainment options. Being smart and selective is the key to effective use of this technology.
Why is this so important?
Patron engagement helps mitigate some of the issues that karaoke entertainment has suffered in the past decade – declining numbers of patrons, fewer shows overall, and a downturn in the amount of time patrons spend in the venue (often called “dwell time”).
The technology has already been developed such that, with the right channel partners, patrons can be encouraged to spend a much longer time in the venue, drastically increasing their value. Metrics passed to the KJ from apps enabled with this technology gives them solid data whereby they can demonstrate to their venues how strongly they are creating more revenue.
Another key part of the puzzle is in making it easy for patrons to compensate the stakeholders. Paying by smartphone has now become a mainstream activity. Tools are now in the hands of developers that allow patrons to input and choose payment methods that remove much of the friction out of this process, including using the phone’s built-in camera to snap a photo of the credit card with which the patron wishes to purchase, in addition to the usual bevy of payment options such as PayPal, Apple Pay and Android Pay (formerly Google Wallet). Once a purchase has been input using one of these methods, the patron does not have to enter the information again to complete a purchase – the smartphone saves all the settings and makes subsequent purchasing a single-tap experience.
The challenge is in making the purchasing process as seamless and easy for the end-user as possible. Savvy developers put calls to action and one-tap purchasing options into the user experience in prominent positions on the user’s screens and directly adjacent to a relevant experience.
In 2015, for the first time, there are more global users of smartphones than desktops. When you add in the tablet market, it becomes clear that the karaoke industry has to learn how to leverage where their customers are, how they interact with content, and how to sell to them on their platform of choice.