Why it’s more important than ever to be transparent with your pricing
Be transparent with your pricing to increase your booking potential and earn the respect of millennial couples.
More often than not, one of the very first questions wedding venues and suppliers will be asked by couples is “how much do your wedding services cost”.
Price transparency has been a highly fractious debate within the wedding industry for as long as we can remember, and for years wedding suppliers have battled this ‘opening question’ by couples – discussing frustrations and seeking advice on pricing strategy from like-minded suppliers, and in some instances even attempting to persuade couples that price is not the most important factor.
Except that often – at this early supplier shortlisting stage – it actually is one, if not THE of the most important factor for couples; particularly for 2017/2018 weddings.
If the price is right, you’re through to the next round!
Of course, as creators, artists, planners and wedding venue hosts the last thing we want to do is reduce our services to numbers and subject our passions to bidding wars.
But as human beings, with special reference to millennial couples, we know that the process for any decision making procedure relies on completing intense research, cementing boundaries and budgets, and setting priorities.
And owing to an abundance of online wedding checklists, budgets and advice blogs (not to mention the thousands of venues and suppliers couples now have to choose from) brides and grooms are likely to want to understand within which pricing perimeters you’re operating before they fall in love with you – only to realise they can’t afford you. Saving both them and you time.
The pricing positives
Let’s look at the positives of getting the “how much is an average wedding photographer/cake/venue [insert as appropriate]” question out of the way, upfront.
When you’re transparent with your pricing, you’re unlikely to experience time-wasters asking you for all the important things that prospects need to know, only to decide that they believe they can find your services for cheaper elsewhere.
You know that couples who get in touch with you are doing so because they’re genuinely considering hiring your wedding venue or engaging your supplier services to help them create their perfect wedding and that they can afford you.
However, as we all know, wedding plans evolve and develop as couples decide they’d like to “add drones” to their wedding photographer hire package, for example.
In this instance, it’s essential that wedding suppliers include a “from” price, and ideally a “to” price so that you’re being completely transparent with the spectrum of costs your clients are dealing with. This avoids any surprises for soon-to-be newlyweds later down the line and saves you the stress of having to have that awkward conversation.
Setting your price parameters
When it comes to answering pricing questions and setting your ‘average price’ parameters on directories such as Bridebook, it’s essential that you think about the true value of your services and never just attempt to compete on price.
A number of hours you put into your work should be a key factor, however, remember that couples are also investing in your expertise, your personality, your skill and your support. The key to setting a successful pricing strategy is to position your business as the most knowledgeable, dedicated, and high-quality option.
Don’t undervalue yourself. You must walk away from your documented ‘guide price’ happy, and know that by the time couples have read about your wedding services, your price will become less important to them.
If you’re interested in understanding more about average wedding supplier costs in the run-up to peak wedding season, view The UK Wedding Report 2017.
Update your pricing information and stay relevant by logging in and editing your Business Account HERE. Once updated, you will instantly increase your profile searchability and are able to connect with our community of 40,000 couples open and honestly.
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