Prem League Entrance Fee

[bigeddiechek 1,094]

Take Stella Artois for a perfect example of a poor quality product (well packaged, nonetheless), marketed as price driven.
Huge success, officially one of the worst beers going according to many World beer experts.

 

I stuck my prices up considerably last year, won a contract 10 x my previous biggest, and 5 x my usual hourly rate.

It opened up a hugely different market.

 

My product has always been good, but I am able to make it excellent due to the extra resources at can utilise due to higher revenue.

That's the smart way to do business.

 

Year after year there is talk of improving the product.

I have yet to see anything radical enough to really attract new supporters.

 

Furthermore, attracting new supporters is a long-term strategy and takes a lot of hard work for small returns.

You do not suddenly change the product (which costs a lot of cash), and then magically get a massive increase in crowds.

It takes a lot of hard yards. Incidentally, I think this is something that Berwick does very well.

 

Now, we know drops in prices do not work.

We know sponsorship is getting harder.

Dropping rider costs, lowers the quality of the product, and that can only go so far as well.

 

So what do we do?

 

If we were to stick by higher pricing, there might be extra cash to the push the product forwards, and start building a larger - and very different - fan base.

I have seen pricing increases work time and time again in business. You don't see many bargain basement businesses around, and supermarkets are masters at being expensive, yet tricking the masses into thinking they are cheap.

 

Business is sophisticated, and all I am saying is speedway is running out of things to try.

 

Want another benefit to higher prices?

Do not apply it to season tickets. It makes them more attractive and drives up-front revenue which is also very valuable.

 

Lots of it makes sense as part of an overall strategy.

 

In one scenario, you could lose 40% of your attendance, yet still have the same revenue.

In the same scenario, you maintain crowd levels, you are looking at an increase of revenue of circa £20k over a season.

 

The reality could lie somewhere in between.

 

It is not as pie in the sky as some may think.

[YAMYAMBANDIT 560]

Take Stella Artois for a perfect example of a poor quality product (well packaged, nonetheless), marketed as price driven.

Huge success, officially one of the worst beers going according to many World beer experts.

 

I stuck my prices up considerably last year, won a contract 10 x my previous biggest, and 5 x my usual hourly rate.

It opened up a hugely different market.

 

My product has always been good, but I am able to make it excellent due to the extra resources at can utilise due to higher revenue.

 

That's the smart way to do business.

 

Year after year there is talk of improving the product.

I have yet to see anything radical enough to really attract new supporters.

 

Furthermore, attracting new supporters is a long-term strategy and takes a lot of hard work for small returns.

You do not suddenly change the product (which costs a lot of cash), and then magically get a massive increase in crowds.

It takes a lot of hard yards. Incidentally, I think this is something that Berwick does very well.

 

Now, we know drops in prices do not work.

We know sponsorship is getting harder.

Dropping rider costs, lowers the quality of the product, and that can only go so far as well.

 

So what do we do?

 

If we were to stick by higher pricing, there might be extra cash to the push the product forwards, and start building a larger - and very different - fan base.

I have seen pricing increases work time and time again in business. You don't see many bargain basement businesses around, and supermarkets are masters at being expensive, yet tricking the masses into thinking they are cheap.

 

Business is sophisticated, and all I am saying is speedway is running out of things to try.

 

Want another benefit to higher prices?

Do not apply it to season tickets. It makes them more attractive and drives up-front revenue which is also very valuable.

 

Lots of it makes sense as part of an overall strategy.

 

In one scenario, you could lose 40% of your attendance, yet still have the same revenue.

In the same scenario, you maintain crowd levels, you are looking at an increase of revenue of circa £20k over a season.

 

The reality could lie somewhere in between.

 

It is not as pie in the sky as some may think.

Oh Yes It Is (pie in the sky)

In a more afluent society, perhaps, Berwick & The Borders are not by any stretch of the imagination an afluent society. There are people who are afluent but are in the very low percentages, and are they the type of people who go to speedway (unlikely), which traditionally has a lower working class following.

You make a good arguament on paper, but this is the real world. If you have found a niche market that you can over charge for, good luck. However in general the more popular something becomes the cheaper it becomes. To buy an Aston Martin is aspirational, but they aim the product at the top 1% of the population, and are very successful at it, can you however translate that to speedway which is aimed at the ordinary working man & women. Employed Tradesmen in the Berwick area are only on about £10 an hour, North Northumberland has the highest percentage of 'Self Employed People' in th UK, but is in the lowest bottom 10 areas for pay, this trend reflects accross the Eastern Borders.

I have tried many asprational brands in my shop, none of which worked, it has taken 20 years to learn to cater for what you have, and not what you would like. It is now doing better than ever, remember I am still trading, Northern Goldsmiths and H.Samuels have gone, and it is quite flattering when I get some opposition, they have tried to emulate what I do.

[bigeddiechek 1,094]

I'm not saying you haven't got your positioning right for you business, Taffy.

Based on what you mention above about the demographic, and I don't disagree with that for a second, why do you think dropping the price to £10 did not boost numbers?

 

Incidentally, I haven't found a niche market, far from it.

I just found that increased pricing took me to a different market.

 

Crucially it is a market with available spend.

Lower pricing had me in sectors that didn't have cash to spend, and were being increasing squeezed.

 

Once I had the increased revenue, I was able to further improve the services, make a higher margin, improve the end product, and secure an ongoing contract.

 

I know it is counter-intuitive, and it takes a hell of a lot of balls to do, but it invariable works.

 

I will give one example where it didn't. Travel Inn went 1p too far and it was a disaster for them.

[YAMYAMBANDIT 560]

I'm not saying you haven't got your positioning right for you business, Taffy.

Based on what you mention above about the demographic, and I don't disagree with that for a second, why do you think dropping the price to £10 did not boost numbers?

 

Incidentally, I haven't found a niche market, far from it.

I just found that increased pricing took me to a different market.

 

Crucially it is a market with available spend.

Lower pricing had me in sectors that didn't have cash to spend, and were being increasing squeezed.

 

Once I had the increased revenue, I was able to further improve the services, make a higher margin, improve the end product, and secure an ongoing contract.

 

I know it is counter-intuitive, and it takes a hell of a lot of balls to do, but it invariable works.

 

I will give one example where it didn't. Travel Inn went 1p too far and it was a disaster for them.

Scott, for this area I think the inbetween price of £14 is about right, perhaps an increase to £15. We both agree dropping the price to £10 did not work, as in general it is that 500+ that turn up week in week out, increasing it £20 in an area like this could be the straw that broke the camels back, ( as in your Travel Inn scenario). The conclusion for me is the product in general has lost favour with the paying public, the fans are predominantly in that older group, so what do you have to do to get the younger fans back to speedway. I don't have the answer, but speedway in general needs to change, Promoters have just had a jolly in Warwickshire, they have changed very little, just tweeked what they were doing wrong in the first place. I suppose as long as the Dinosaurs are still in charge, we will have to stay in 'The Ice Age'.

Edited November 17, 2014 by TOURETTES

[Fromafar 10,370]

Take Stella Artois for a perfect example of a poor quality product (well packaged, nonetheless), marketed as price driven.

Huge success, officially one of the worst beers going according to many World beer experts.

 

I stuck my prices up considerably last year, won a contract 10 x my previous biggest, and 5 x my usual hourly rate.

It opened up a hugely different market.

 

My product has always been good, but I am able to make it excellent due to the extra resources at can utilise due to higher revenue.

That's the smart way to do business.

 

Year after year there is talk of improving the product.

I have yet to see anything radical enough to really attract new supporters.

 

Furthermore, attracting new supporters is a long-term strategy and takes a lot of hard work for small returns.

You do not suddenly change the product (which costs a lot of cash), and then magically get a massive increase in crowds.

It takes a lot of hard yards. Incidentally, I think this is something that Berwick does very well.

 

Now, we know drops in prices do not work.

We know sponsorship is getting harder.

Dropping rider costs, lowers the quality of the product, and that can only go so far as well.

 

So what do we do?

 

If we were to stick by higher pricing, there might be extra cash to the push the product forwards, and start building a larger - and very different - fan base.

I have seen pricing increases work time and time again in business. You don't see many bargain basement businesses around, and supermarkets are masters at being expensive, yet tricking the masses into thinking they are cheap.

 

Business is sophisticated, and all I am saying is speedway is running out of things to try.

 

Want another benefit to higher prices?

Do not apply it to season tickets. It makes them more attractive and drives up-front revenue which is also very valuable.

 

Lots of it makes sense as part of an overall strategy.

 

In one scenario, you could lose 40% of your attendance, yet still have the same revenue.

In the same scenario, you maintain crowd levels, you are looking at an increase of revenue of circa £20k over a season.

 

The reality could lie somewhere in between.

 

It is not as pie in the sky as some may think.

The trouble with your 'pie in the sky theory' is you are not in the real world regarding running speedway as a business .Perhaps with you business doing so well you could shove all your profits in being Main Sponsors for the Bandits after all you think there is money to be made by hiking up the prices.This time next year we all be millionaires(dell boy)!!!!

[YAMYAMBANDIT 560]

The trouble with your 'pie in the sky theory' is you are not in the real world regarding running speedway as a business .Perhaps with you business doing so well you could shove all your profits in being Main Sponsors for the Bandits after all you think there is money to be made by hiking up the prices.This time next year we all be millionaires(dell boy)!!!!

I have worked out so many times what I would spend my lottery win on, in the mean time I spend what I have earned this week.

[bigeddiechek 1,094]

I have worked out so many times what I would spend my lottery win on, in the mean time I spend what I have earned this week.

 

Yep, and it backs up my point. It needs lots of regular small amounts that is sustainable.

 

Almost everyone who has come with me has enjoyed it. 2 out of 30-odd said it wasn't their cup of tea.

Some who have become regulars get frustrated when there are hold-ups waiting for ambulances.

That is the only grumble I get from them, but it is a big grumble.

 

The product really isn't that bad, it could be better, but it will need investment to do that.

That isn't going to happen with the current fan base.

 

Need to be progressive and brave.

[YAMYAMBANDIT 560]

 

Yep, and it backs up my point. It needs lots of regular small amounts that is sustainable.

 

Almost everyone who has come with me has enjoyed it. 2 out of 30-odd said it wasn't their cup of tea.

Some who have become regulars get frustrated when there are hold-ups waiting for ambulances.

That is the only grumble I get from them, but it is a big grumble.

 

The product really isn't that bad, it could be better, but it will need investment to do that.

That isn't going to happen with the current fan base.

 

Need to be progressive and brave.

Back to my point, although to you an extra £6 is a small amount, someone on a minimum wage or even the so called 'Living Wage' it is a big hike. The vast majority of employment in this area is in the lower salary bands, mostly being topped up with 'Family Credit,

[bigeddiechek 1,094]

Back to my point, although to you an extra £6 is a small amount, someone on a minimum wage or even the so called 'Living Wage' it is a big hike. The vast majority of employment in this area is in the lower salary bands, mostly being topped up with 'Family Credit,

 

Yep, I guess you are right.

We might just not be able to afford professional sport at this level in years to come

[Skid Sprocket 243]

One thing is for sure, lower pricing doesn't seem to be an influential variable, certainly at Berwick.

 

So I say stick the price up, hoy in a burger, a can of pop, and enjoy the racing.

 

 

I can see another advantage, it would probably get rid of the whining "supporters".

I'd happily subsidise the loss of them through increased entrance fees.

Now, that would improve the product no end.

 

You can offer all the incentives you like but if the only people that know of them are the existing fans then the incentives wont make a jot of difference.

In this day of wall to wall social media we should all be beating at the doors of newspapers and radio stations and get the message of speedway across to "non believers", it wont cost us a penny but increasing gate numbers will allow prices to be cut.

[rogero 19]

Plymouth's entrance fee for adults is £14. A short walk from a big Park & Ride car park (free) and programmes £2.

 

I've been watching speedway for 53 years and racing at the St Boniface Arena is superb ..... the best I've seen. You feel right on top of the track on the back straight.