We've all seen Koozies as music festival merchandise stalls, but they are almost always all the same - same design, same format. We were recently contacted by a designer work on behalf of a local music festival with a modest attendance of 15,000 people and they needed 400 Koozies. Only 400 between 15,000 people, that can't be right we said to ourselves - it look's like a lost opportunity to us...
With Coolaz Koozies we are looking to address this by creating an experience that is just a little more interesting. This not only provides fans with something they can engage with, but also is a little more personal to them. We've had a think about how people can utilise these fun yet functional merchandise products to maximize their festival revenue and here are a couple of our ideas. Take a quick look in more detail here: Promotional Koozies.
Number 1 way to increase revenue: Price Point
Music Merch or Band Merch is always going to be more expensive than any other similar item, but every product has a tipping point where it move from being a niche product with few buyers to getting towards a point where you cannot move for demand. At Coolaz we feel that asking $10 or more for a Koozie is not really going to shift that many units - maybe $5 is where it is at? We have the wholesale rates to match that price point. The general idea is to shift more, which makes the product more visible (people using, wearing and enjoying), which shifts more units... and an interesting cycle starts up.
Number 2 way to increase revenue: Variation
Not everyone likes the same color of course. A quick way to appeal to more people is to create a few variations to bring more eyes to the table so to speak. With Coolaz Koozies this is relatively easy to do - either by altering the artwork across your order volume or simply by choosing from 12 different colors of interior foam to suit the design on the front.
Another fantastic way of creating variation, and even driving multiple purchases, is to spread information across a number of designs. For example, if you are hosting a festival over more than one day why not have a different Koozie for each day. Again, variations may just be in color, but this might be missing a trick: better might be to have the days running order on each Koozie for that day. This is intrinsically linked into the price point argument described above. Get it right and people will be applauding the originality of the idea and snapping up 3 times the units they would have bought originally!
Not one to just put an idea out there, we've been out in the field testing! A couple of team Coolaz printed up a running order for a music festival they attended just the weekend past - and even though it had to be plain black and white with no logos etc. - there was a huge amount of interest in them, with people ducking back again and again to find out who was on next and where. You can be assured we'll be on to the organisers for next year's festival!
There's lots of other ideas that can be incorporated into your music festival Koozies - take a look at our article about barcoding our Koozies for more reading. And if you have any ideas you'd like to share just let us know!