Music & Culture

Creating a Broader Financial Scope for a German Top Orchestra

Challenges

Attendances growth not appropriate to the artistic successes

 

Financial restrictions: Too small budget measured against the artistic successes and in comparison to other orchestras

 

Need for a broader financial scope—in consideration of all relevant economic and artistic-strategic levers

Problem-Solving Approach

Examining the as-is situation regarding earnings, costs, concert management and business processes

 

Analyzing best-practice examples

 

Optimizing existing sources of income:

  • Increasing the number of attendees/subscribers by optimizing the concert bill as well as by improving marketing and public-relations efforts
  • Improving the subscription and pricing concept
  • Raising the advertising revenues
  • Optimizing merchandising/CD sales
  • Safeguarding existing subsidies

Exploiting new sources of income:

  • Setting up an advisory board
  • Fostering special projects
  • Developing a fundraising/sponsoring concept

Reducing the costs:

  • Exploiting new ideas for cost reduction (e.g. outsourcing of the concert management and sale of tickets)
  • Reducing the running operating costs (e.g. by optimizing the processes)
Results

Financial scope quickly broadened and sustainably ensured by medium- and long-term measures

March 2021

‘Best Management Consultants 2021:’ T. K. HAMANN among the top 3 consultancies for sales, after sales, and CRM

The 2021 ranking ‘Beste Unternehmensberater [Best Management Consultants]’ by the German business magazine brand eins and the business data portal Statista has just been published.

 

T. K. HAMANN takes a top position in this with a shared second place in the field of ‘Sales, After Sales, CRM.’  In addition, we are honored for the sector ‘Auto & Suppliers’ and the functional area ‘Strategy Development.’

 

We are grateful to all our clients, the entire team, and business partners who have worked with us since our founding in late 2016.  Together, we will continue to consequently pursue quality leadership in our disciplines.

For this year’s ranking, 2,334 colleagues determined the best management consultancies according to their perception by industry and functional practice area.  Subsequently, assessments were obtained from the clients.  For this purpose, 1,100 senior executives were provided with a list of the recommended consultancies for each industry and work area clients via online survey; another 234 senior executives (Head of Strategy, Head of Business Development, etc.) from DAX, M-DAX, S-DAX and Tec-DAX companies were specifically invited to participate in the survey.