If you have been considering a full suite consulting relationship with TRG Arts, you have seen the terms Revenue Accelerator and Capacity Building, the two main consulting programs we offer. This article will focus specifically on Revenue Accelerator, what it is, how much it costs, and what your organization can expect. We have been in the arts business for over 25 years, so we sometimes assume our industry knowledge and terminology is widely understood -- but we know there can be a lot to learn about consulting before you can confidently make the best choice for your organization. If you want to learn what the experience of working closely with TRG is like, you have come to the right place. Let us start with the obvious and most straightforward question: what is full suite consulting?
What is Full Suite Consulting?
Full suite consulting is a relationship. TRG Arts is an international change-agency committed to building a thriving arts and cultural industry by successfully shaping for-profit and non-profit business models. One of the ways we do that is through full suite consulting relationships with our clients. This means a TRG consultant will be working with you, your staff, and your data, to help you achieve your goals for your organization in your communities.
The word consultant is not always positively perceived. Across industries there are examples of “consultants” who enter an organization, offer a canned solution full of incongruities with the goals and challenges of the client, and then leave the client to do all the work. This is not the type of consulting we offer. TRG consulting is tailored to your needs, focused, and hands-on. Before you sign a contract with TRG Arts, you will have what we call a Preview Day, where a knowledgeable TRG client development executive will collect and analyze your data and then come to your venue and meet with your team. This is your first look at the power hidden in your data, and how a long term (think multi-year) relationship with a TRG consultant can help your organization flourish.
After your Preview Day you can decide to sign a contract with TRG Arts. Once your contract is signed, you will begin meeting with your consultant bi-weekly, the nature and goals of those meetings will depend on which program you selected. Here we will examine Revenue Accelerator.
How does Revenue Accelerator Work?
Revenue Accelerator is designed to strengthen your earned income potential and grow your marketing team’s ability to deepen consumer relationships and build long-term growth. Many organizations face barriers when trying to increase their earned income. These barriers include low audience retention, high cost-of-sale, and inventory mismanagement. Removing these barriers is when sustainability begins, and your team builds lasting relationships with your patrons.
Revenue Accelerator begins with an analysis of your marketing and sales practices to uncover your future revenue potential. Your consultant will build on this analysis to craft a customized road map from pricing and scaling decisions to campaign planning for single tickets and subscription (or membership). One-on-one, we teach best practices using innovative tools and techniques, all with a customized approach to your organization's business model. During your client relationship you will have in-office site visits or virtual summits quarterly, group learning in webinars as scheduled quarterly, bi-weekly calls with duration between 30 minutes to 1 hour depending on need, and unlimited email support.
The details of a multi-year relationship with TRG are a lot to cover in one article, but below you will find the highlights of focus areas that Revenue Accelerator will bring to your team.
Baseline Assessment
A three-pronged assessment to uncover potential growth and optimization areas for consumer-centered revenue, loyalty growth, and ticketing inventory.
Pricing and Demand Management
Strategies for maximizing revenue potential and future success based on a historical review of programming, admission / performance time, and seat location use.
Patron Loyalty Planning
Provides a customized strategy designed to build a more substantial base of loyalists and reduce attrition of consumers still getting to know your organization.
One-on-One Counsel
In-depth counsel to infuse innovative ideas, keep teams accountable for implementation, and teach industry best practices to pursue revenue-generating opportunities.
Consumer-Centered Planning
Campaign planning focused on consumer-centered revenue to maximize results in admissions, donations, and subscriptions (or memberships).
Peer Group Learning
Provides access to core professional development summits for your team based on topics like pricing and season planning, subscription, single tickets, and fundraising.
Revenue Accelerator Sounds Great, but What does it Cost?
Hopefully at this point you have some idea of what to expect from a consultant at TRG, and what Revenue Accelerator offers. It’s time then to get down to the brass tacks of cost.
Revenue Accelerator has a one-time onboard cost of $35,250 and is $5,300 monthly thereafter. This means the first year will cost around $98,850 and each year afterward will be $63,600. The work involved with Revenue Accelerator calls for at least an 18-month relationship to maximize results, but there is no enforced timeframe, and the relationship continues on an at-will basis between your organization and TRG Arts.
Conclusion
Thriving organizations leverage their most important asset - their admissions inventory, and TRG Arts Revenue Accelerator is a bespoke consulting relationship focused on that very thing. Each marketing investment needs to work to further your mission. Optimizing your marketing return-on-investment is essential in short-term planning and long-term sustainability. Revenue Accelerator can find new consumers and deepen relationships with existing consumers by implementing industry best practices in marketing. While you may still have questions even after reading, we hope you have a clearer picture of what TRG Arts Revenue Accelerator is focused on and what a consulting relationship looks like. If you would like to have your questions answered or take the next step and book a preview day, we would love to connect. Schedule a call today and let’s talk shop!