In walks Dani Zoldan, one of the kindest and funniest dudes we’ve ever had at our office. Sporting a bright yellow zip-up hoodie and black trucker hat, he joined us to share a few behind-the-scenes stories about what it’s like to own one of the world’s most legendary comedy clubs, Stand Up New York.
We had a lot of take-aways from this conversation…but, the idea that we haven’t been able to get off our minds is this notion of thinking outside the box to generate revenue beyond the traditional means of selling tickets and drinks.
Not only did Dani give us a good laugh, he also had brilliant ideas of revenue streams that can be applied across various industries. From comedy clubs to music festivals, restaurants to small-scale events, all event hosts and venue owners can learn a lot from Dani’s journey.
In today’s issue of HOSTED, we'll explore actionable steps and examples, intertwined with Dani’s story, to empower event organizers in any industry to tap into new revenue streams.
But first, be sure to catch the full episode:
Dani’s journey showcases the importance of adaptability in generating revenue. When COVID hit, his club was amongst the first to shut down in New York. He had no choice but to reel in the spending and stay home. But, he did feel pressed to find new ways to conduct business outside the four walls of his comedy club. His first step was to host pop-up events.
Inspired by his club's closure during COVID-19, Dani organized pop-up comedy events in parks all over New York City and began selling tickets to these unique experiences. They gathered 40-100 people under trees in parks all across New York and Brooklyn. They quickly got to a point where they were hosting 50+ pop up shows every week! Think about it…when you make the entire city your venue, you can host tons of events in a single night. This is where the revenue starts to grow as your brand takes off!
Idea: Whether you own a restaurant or organize corporate events for clients, we suggest you consider hosting pop-up events in unconventional locations or outdoor spaces related to your industry. Identify potential locations to throw down or partner with complementary businesses to host joint events that expand your reach and attract new customers.
Here is a comedy pop up in an equestrian store in NYC:
Building on the idea of enhancing the attendee experience, we love seeing hosts and venue owners offer VIP or premium packages that provide backstage access and meet-and-greets with performers. Apply this concept to your industry and offer exclusive experiences that cater to your audience's desires.
Idea: Identify elements of your event or venue that can be transformed into exclusive experiences that you can market to your target audience.
If you’re hosting a dance party, have a VIP package where the guests can meet the DJ backstage before the show begins. Or if you’re hosting a restaurant grand-opening, offer VIP packages where the guests get a special dessert prepared by the chef.
This one took place long before COVID, actually. Even before MasterClass was a thing believe it or not…
Dani launched an online course teaching aspiring comedians how to write their first five minutes of material. Many of these comedians would perform at his club on a regular basis, so it was a natural extension of the brand. Think about how cool it sounds to learn the architecture of a joke from your favorite comedian, and then see them live on-stage three days later.
Similarly, we encourage you to identify a specific area of knowledge or skill within your industry that you can teach through online workshops or courses. Personally, if my favorite event producer launched an online course on how to find a great venue, I’d sign up in a heartbeat.
Idea: Plan and create a structured curriculum and consider utilizing platforms like Teachable or Udemy to host and monetize your courses. Position them as an extension of your brand and have fun with it!
While we all can agree that the virtual music festival is overplayed, it’s not a bad idea to consider expanding your reach through webinars and virtual educational events. By hosting online seminars or virtual events that provide valuable insights, demonstrations, or entertainment, you’re now able to tap into new audiences around the world.
Plus, while many people enjoy online courses, which is a one-way experience, a lot of people prefer a two-way experience where they can ask questions to the speaker and engage more interactively.
Dani's collaborations and partnerships played a significant role in his revenue diversification.
When COVID forced all of the venues to shut down, there were only a few that remained open, including religious groups. So, Dani had the idea to launch “The Temple of Laughter”, where they started hosting services at churches and synagogues, bringing a bit of joy and humor to congregations during a time of confusion and sorrow.
By collaborating with religious groups, he was essentially cross-promoting his events. We encourage you to apply this concept to your industry by partnering with complementary businesses to expand your reach and attract new customers that would have never otherwise heard of you.
One of our favorite strategies that Dani employed was to build and launch LaughPass, an annual membership that grants you access to unlimited comedy shows at venues across the country plus great perks, like VIP seating, free tickets for your friends, no drink minimums ever and advance notice when celebrity comics drop-in for a show.
This is a brilliant way to drive revenue while drastically boosting brand awareness all over the country.
Check out LaughPass to get some inspo for your industry. What if you sold memberships to your events where people could skip the line and get the best seats at concerts?
Inspired by Dani's LaughPass subscription program, you could develop a subscription-based membership program that offers exclusive benefits to your audience at many venues; not just yours. Start by determining the benefits and pricing structure of your subscription-based model. Then, set up an online platform or utilize existing ticketing platforms to manage memberships.
Implement a loyalty program that rewards customers for repeat visits or purchases, similar to Dani's loyalty initiatives. Think of the Starbucks card. Yeah, do something like that.
Idea: Design a loyalty program and establish clear rules and rewards. Utilize customer relationship management (CRM) tools or loyalty program software to track and manage customer rewards.
All in all, event hosts and venue owners can draw inspiration from Dani's journey to unlock diverse revenue streams. Embrace the power of adaptability, leverage digital platforms, collaborate with others, and implement membership or loyalty programs.
Remember to pull inspiration from Dani's story and adapt the actionable steps to your industry and target audience. With a mindset of creativity, innovation, and a willingness to explore new opportunities, your event organization will flourish financially while delivering exceptional experiences to your attendees.
