Festival season is about to start, which means that a lot of people are looking for ways to make more money. Often, people don’t think about the fact that merchandise sales can help pay for last-minute expenses. But to make the most money from your festival merch, you need to know what swag fans want and how much they’ll pay for it.
If you want to buy a cool new T-shirt, you’ll have to pay more for it these days because physical music sales are going down all the time. Fans are more likely to spend their money on things like a cheesy Christmas sweater from a metal band or a band’s branded hot sauce. Many artists don’t want to think about profit margins because they don’t like putting a price on their music or because they don’t like the less artistic parts of the job. However, if you want to make money with your music, you need to sell the right kind of merchandise at the right price in the right way. Is simple and doesn’t have to be painful.
Merch is important
Festivals that sell merch make money all over the world, and it’s a good way to make money. Merchandise at festivals with more than 5,000 attendees costs an average of $421,000 per event, with an average spend per transaction of $50, according to a study from Venu in 2017. This is a big source of extra money for the festivals.
Merchandise can be used for more than just profit. It can also be used as a marketing tool. What better way to show off your festival than to have real people wearing shirts from last year’s event for the next 12 months? You can’t buy that kind of social proof, and it’s very hard to get it. It’s important for festivals of all sizes to think about merch.
The following are some ways to make money on merch at a festival:
T-shirts and CDs/vinyl/cassette tapes are the two main things on the merch table. Most people buy these things from any band. (Totes are also becoming more and more popular.) You can decorate your table with stickers and buttons, which should cost so little to make that you can give them away for free, or charge $1 if you want to.
When people buy wearable merch, they make money from the sale, but they also get free advertising for their band for years to come. So it makes sense to buy a good product that won’t fade, stretch in the wrong places, or lose its logo. The quality of your goods should not be sacrificed to save money. You’re putting your name on it, so if it falls apart, it looks bad on you. You should, of course, not spend a lot of money on merch, like a limited edition silk bomber jacket with your band name on it. But don’t buy cheap, ugly t-shirts just because they’re cheap. People won’t buy them, so you’ll have 400 bad shirts. Next time you’re shopping for band merch at a show, you’ll see that American Apparel shirts are almost always high-quality.
Unusual items, limited edition products, or tour-only swag will make your biggest fans want to come over to the table and see what you have. Demand is caused by scarcity. As long as you start with a good design on a good shirt, your T-shirts will sell quickly when you tell your fans that your new run is only 100.,
Use more than one way to communicate
You should make your YouTube merch feel like it’s part of the event. Use more than one tent at the event. Instead, make sure that it’s seen on all of your marketing channels, before, during, and after the festival. For example, make sure that it’s seen in videos that show how the festival went, for example. Like Full Moon, you should try to make your merch look and feel good.
Find a partner
The last few years have seen a lot of collaborations between brands and events that have worked out well. Is there already someone you know who is a designer, or have you looked at a brand from afar? You should reach out now. As long as the collaboration goes well, the merchandise will be even more valuable to the fans than if you made them yourself. It can also help to give them a life after the festival is over.
People who are important to you should be found
It’s also a great idea to use your fans to sell more shirts. Audience Republic can help you find your most influential fans and work with them to make merch and marketing campaigns that really spread across the world.