3 Merchandising Tips for Students in Entertainment Management College

Posted on December 9th, 2016 - Written by: Trebas Toronto

Band merchandise can be a great way to generate revenue and excite fans

Band merchandise can be a great way to generate revenue and excite fans

The music and entertainment industry is in a state of change. Physical album sales have been steadily declining as streaming platforms like Apple Music and Spotify continue to grow in popularity. The way modern artists, entertainers, and bands generate income is very different than how they did twenty or even five years ago. However, one thing that has remained constant is merchandise. Band t-shirts, hats, posters, and other swag has remained a staple source of income for artists.

Merchandising is an essential component of entertainment marketing. It has many different facets. From pricing, product development, and selection to setting up an actual merchandise table at a live event, there is plenty to learn.

Are you interested in the entertainment biz? If so, keep reading to discover three merchandising tips you can keep in mind once you begin your career.

1. Grads of Entertainment Management College Can Follow Good Ordering and Pricing Practices

Whether you are working for an iconic band or a newer artist who found their success on social media, merchandise is important. And whether you’re working on a large or small scale in entertainment business management, ordering and pricing can make or break your merchandises’ profitability.

If you’re working with a new entertainer, it’s often a good idea to start with just a few great merchandise options. When ordering, think about your audience, and consider whether or not they would actually wear what you’re selling. The key to great merchandise is not just selling a t-shirt, but selling an awesome t-shirt that fans will be proud to wear.

In order to get great prices, foster good relationships with your suppliers. One way to do this is to order exclusively from one supplier. In addition, ordering in bulk usually helps save on costs. Some of your artists’ fans may be strapped for cash, so by negotiating good merchandise deals, you can help keep prices affordable.

2. Students in Entertainment Management Courses Can Promote Merchandise to Fans

The success of a merchandise booth is often dependent on promotion. Drawing awareness to the table will increase sales, which adds more revenue for your artists. One great way to plug the merchandise table is to have the act mention where it is during their set. To take it a step further, having band members or artists sit at the merchandise table and interact with fans can help draw a bigger turnout.

After completing your entertainment management courses, consider positioning merchandise tables in a visible and well-travelled location. Some concert venues are large and become crowded during a show, so having the booth in an easy-to-access spot leaves no excuse for fans to skip out on grabbing some merchandise.

3. Students in Entertainment Business Management Can Create an Appealing Merch Table

When it comes to the day of the live event, make sure your merchandise display is well put together and uncluttered. It’s best to display merchandise up high or on a wall, so that even from the back of the crowd fans can see what their options are. Also, having prices clearly labelled next to merchandise items will help avoid any confusion. Keep the table organized, as merchandise booths can get hectic and it may drive your customers away. Before opening the booth to customers, also make sure you have a variety of sizes in all the articles of clothing you are selling, and as soon as something sells out, remove it from the display.

These pointers are just the tip of the iceberg. Do you want to learn more about merchandising and entertainment management?

Contact Trebas today to learn more about enrolling in our entertainment management college.

Write a Comment

Comments are closed.