The Magic of Revenue Enhancement

The following post was originally published in March, 2010

March Break can be a stressful time.  Families are conflicted by the thought of taking a peak-priced trip to an over-crowded resort, or staying home and finding things to do locally.  This year, we chose to do a bit of both.

On the first night of March Break with the kids, we decided to take in a Vegas-style magic show.  Purchasing our tickets online was dead easy – pick your seating section, select adult or child, dinner or show-only.  First impression:  positive.  We drove to the theatre, where we were “greeted” by a parking attendant – “that will be $5.00 please”.  My second reaction: negative.  Why couldn’t the attendant say “Welcome to the XXX Theatre”?  Why not have the attendants dressed in Magic-show attire to get the experience started?  Better yet, why not increase the show ticket price and promote “Free Parking”?  As I thought about it further, however, and as the attendant did say “Enjoy the show”, the parking fee was a pretty good deal.  Inside, the concessions were reasonably priced, the staff was courteous, we were seated promptly, and the show was terrific.  The evening ended with an opportunity for each of the kids to be photographed in a cage with a real tiger!  Of course, those photos were an extra, rather excessive charge, but by that time, our favourable impressions of the evening had won us over.  The star of the show even stayed behind to greet us and to sign the photos, which made the value of these memories well worth the price we paid. 

The Bottom Line

If there is any magic to revenue enhancement, it is this:  a well-crafted strategy should extend far beyond the notion of “what else can we sell our customer?”  It should involve a thorough consideration of the customer experience, from initiation through to the final act and beyond.  A sequence of planned and positive impressions, laid down early in the experience cycle, can pay significant dividends later in the relationship.  If you’d like to learn more, give us a call today.