So, you want to increase your wedding price? Of course you do!
Here’s the challenge: If you’re not hitting your targets at your current rate, then the thought of increasing seems impossible. Surely if you put prices up you’d sell even less right?
Wrong my friend. Stay with me and let me show you the way. This isn’t an article that’s pure methodology. This is already working for my clients globally, from USA to the UK to AUS.
You’re possibly experiencing some or all of the following:
- Couples often wanting a discount
- Attracting ‘OK’ couples [But not ideal]
- Feeling irritated by low quality enquiries and lack of responses
You probably want couples who are fabulous to work with, have healthy budgets, value what your team do and understand that you [usually] get what you pay for!
THE REAL PROBLEM
When we look at a Wedding Business, the thing they usually think they want help with isn’t the actual issue. It’s a symptom of something else not working. So let’s start by you identifying what’s really happening.
There are 2 main sections to wedding sales: Attracting & Converting.
ATTRACTING You might be attracting the wrong kinds of couples in the first place. Which means no matter how epic your team are at conversion they are in quick sand. They’ll struggle to increase revenue from the leads coming in because the couples (the leads) are not the right ones. This is marketing. The images, copy, ads, packages and pricing that is the ‘bait’ going out it incorrect. Like trying to catch a fish with ravioli. You might catch something but it wasn’t the fish you wanted.
CONVERSION Once the couple know you exist you need to reel them in with clear steps. If your team are not trained in wedding conversion at each step such as high-response emails, calls that convert or tours that book, they’ll likely lose the sale.
Take a look at the Quadrant below and work out where you/your business is at the moment?
Are you attracting high or low spend couples combined with how much you convert:
- Great conversion + Low budget weddings = Busy Fool
- Great Budget Weddings + Low Conversion = Confused
- Low Budgets + Low Conversion = Miserable!
- Higher Budget Weddings + High Conversion = Sweet Spot
[PRO TIP:] ‘Higher priced weddings’ is different for everyone. It just means moving up a price bracket or simply a 30% increase on profit. It doesn’t mean going from $2K weddings to $2 million. Makes sense?
Where are you right now? Take a look and tell me in the comments below.
EPIPHANY
While I was working at Claridge’s, (one of the words most famous and luxurious 5 star hotels), I was offer a role: Group Wedding Sales Director. I was tasked to raise revenue, bookings and average booking value across 45 hotels.
But here was the challenge: These were 4 star properties. This was not the luxury market I was accustomed to. It’s easy when you already work in the luxury market.
The REAL challenge is moving your venue or business through the price brackets. I took the challenge! After tireless research, trial and error and simply testing I struck gold. I created an actual system, a formula that does exactly what we want it to:
Attract a higher spend couple and increase rate while INCREASING bookings
Here are just 3 steps in that overall system
1- ATTRACTION CIRCLE
Have you noticed you keep attracting the same kind of couple or couples with similar budgets? That’s not a coincidence.
For example when I tell businesses to avoid using chair covers in their marketing imagery they sometimes say “But Kelly, all our brides want chair covers!” Yup. That’s because what you’re putting out then comes in.
It’s an attraction circle. To move up a level you need to put out images and copy that are the bracket you WANT to attract, not the one you already have! If you continue to use only real wedding images and non-professional pictures then you will attract couples who align with that. [Tough love warning…] Those are not usually the couples with healthy budgets.
2 – SAGGY SALES JOURNEY
Most businesses we work with have a Saggy Sales Journey – but they don’t realise it until we show them a better way. How do you know if yours is saggy? Let’s take a look at a couple of quick examples:
- Stepping stones not clear. How do your couples get from where they are now, to where you want them to be? (Hint: The last part is paying you the deposit!)
- ‘Make an Enquiry’ is your CTA. For the love of God, change it now. This is not a slick sales journey. Your couples value their time and energy. If you make them work for it, they’ll simply go with another company that makes their lives easier.
- No pricing online. How do you feel when you’re stalking a business and they give no idea on price? Irritated right? If you make them add their email to download the brochure, or worse still speak to an actual human before getting price points then we are in trouble. It’s not only a waste of time for your team and your potential clients but you’re leaving money on the table.
3 – VALUE LADDER
The value Ladder is a tool inside my ‘Easy to Buy’ method. And my clients rave about it.
Firstly we must productise our services. Whether you’re a venue, florist, stylist or photographer this is essential. Only having bespoke options make it awkward for everyone. Don’t take it off the table but do show examples of what they can expect at different price points from low to luxury-super-wildest-dreams high. Create bundles, or collections or packages to show tangible options.
And it’s actually the luxury option that works hardest for you. The luxury options attracts couples with higher spends as it shows you can deliver at that level. Your previous only-low pricing was actually putting them off.
The luxury option makes your middle price points feel more valuable thereby actually driving more of THOSE sales. It’s the power of contrast at work.
Then you have a huge opportunity for add-ons and upsets. (More about that on another article)
When creating your value ladder you need to have somewhere to go up to. So the majority of your bookings should be in the middle of your ladder. When too many are at the top it’s time to increase that top luxury price point!
[PRO TIP] My clients all create 3 year pricing structures. With weddings often being long lead we must ensure we are increasing year on year, even by a small amount! Otherwise we’re selling 2025 at 2023 prices!
If you found this useful…
…comment below with any lightbulb moments.
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